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Petrol Depot Price: Marketers To Sell At ₦168 – ₦170 Per Liter – NNPC

The Petroleum Products Marketing Company, an auxiliary of the Nigerian National Petroleum Corporation, has increased the ex-depot cost of Premium Motor Spirit, otherwise called petroleum, to N155.17 per liter from N147.67 per liter.

The PPMC revealed this in an inside update with reference number PPMC/C/MK/003, dated November 11, 2020, and endorsed by Tijjani Ali.

The notice, a duplicate of which was seen by our reporter, said the new ex-depot cost would produce results from Friday.

In its PMS value proposition for November, the PPMC put the arrival cost of petroleum at N128.89 per liter, up from N119.77 per liter in September/October.

It said the assessed least production cost of the item lead to an increment of N161.36 per liter from N153.86 per liter.

The National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr. Mike Osatuyi, said 

“The ramifications of the expansion in the ex-terminal cost is that there will be an expansion in the siphon cost. We are expecting the siphon cost to go from N168 to N170 per liter.

“Unrefined petroleum cost is going up,”

Petroleum value band had additionally ascended from N121.50–N123.50 per liter in June to N140.80-N143.80 in July and N148-N150 in August.

The Minister of State for Petroleum Resources, Timipre Sylva, said in September that the public authority had ventured back in fixing the cost of petroleum, adding that market influences and unrefined petroleum cost would keep on deciding the expense of the item.

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Donald Trump Wins US Presidential Elections, defeats Kamala Harris

Donald Trump has won the US presidential election after securing the over 270 Electoral College (EC) votes required to emerge victorious.

As of this report, Trump has secured 279 EC votes, while his main challenger, incumbent Vice President Kamala Harris, has secured 223 votes.

Mr Trump is also ahead in the popular vote count, securing over 71 million votes to Mrs Harris’s over 66 million.

This election is the first since 2004 in which a Republican presidential candidate will secure more popular votes than a Democratic Party candidate, indicating Mr Trump’s solid performance and Mrs Harris’s sub-par performance.

“America has given us an unprecedented and powerful mandate,” Mr Trump told a jubilant crowd in Florida Wednesday morning.

As of Wednesday afternoon, Mr Trump had already won in four of the seven crucial Swing states – North Carolina, Georgia, Pennsylvania and Wisconsin – and was ahead in the remaining three – Michigan, Nevada, and Arizona – BBC reports.

Apart from winning the presidential election, the Republican Party also took control of the US Senate for the first time in four years and maintained its hold of the House.

Several world leaders, including Nigeria’s President Bola Tinubu, have congratulated Mr Trump on his victory.

According to President Tinubu, Mr Trump’s victory reflects the trust and confidence the American people have placed in his leadership, the president’s spokesperson, Bayo Onanuga, wrote in a statement.

President Tinubu believes that, given President Trump’s experience as the 45th president of the United States from 2017 to 2021, his return to the White House as the 47th president will usher in an era of earnest, beneficial, and reciprocal economic and development partnerships between Africa and the United States, he added.

“Together, we can foster economic cooperation, promote peace, and address global challenges that affect our citizens,” the Nigerian leader was quoted as saying.

Many other leaders posted their congratulatory messages on X, the social media platform whose owner, Elon Musk, was one of the main campaigners for Mr Trump.

“Ready to work together as we did for four years. With your convictions and mine, with respect and ambition. For more peace and prosperity,” French President Emmanuel Macron wrote on X.

“For a long time, Germany and the U.S. have been working together successfully promoting prosperity and freedom on both sides of the Atlantic,” wrote German Chancellor Olaf Scholz on X. “We will continue to do so for the wellbeing of our citizens.”

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Nigerian Chief Of Army Staff, Taoreed Lagbaja Dies At 56

Nigeria’s Chief of Army Staff, Lt. General Taoreed Abiodun Lagbaja, has died at the
age of 56, according to a state house press statement. Lt. General Lagbaja passed away on Tuesday night in Lagos following an illness, as announced by President Bola Ahmed Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga.

President Tinubu expressed profound sadness over the loss of a “dedicated servant
of the nation” whose military career spanned over three decades.

Lt. General Lagbaja, born on February 28, 1968, was appointed Chief of Army Staff on June 19, 2023. His service history includes numerous leadership roles in critical security operations such as Operation ZAKI in Benue, Lafiya Dole in Borno, and Forest Sanity across
Kaduna and Niger States. A distinguished alumnus of the U.S. Army War College with a Master’s in Strategic Studies, Lt. General Lagbaja was recognized for his strategic acumen.

Lt. General Lagbaja is survived by his beloved wife, Mariya, and their two children. President Tinubu expresses his heartfelt condolences to the family and the Nigerian Armed Forces during this difficult time. The president wishes Lt. General Lagbaja eternal peace and honors his significant contributions to the nation.

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EFCC Detains Former Governor Of Delta State Ifeanyi Okowa

okowa sacks Latimore Oghenesivbe

Operatives of the Economic and Financial Crimes Commission (EFCC) have detained a former governor of Delta State, Ifeanyi Okowa, for the alleged diversion of N1.3 trillion of the 13 percent derivation fund from the Federation Account between 2015 and 2023.

A source close to proceedings says that Mr Okowa was detained on Monday, 4 November, in Port Harcourt, Rivers State, when he reported at the Port Harcourt Directorate of the EFCC on the invitation of investigators handling his matter.

The former governor allegedly failed to account for the funds and another N40 billion he allegedly claimed to have used to acquire shares in the UTM Floating Liquefied Natural Gas.

Mr Okowa allegedly bought N40 billion worth of shares in one of the major banks in Nigeria, representing eight percent equity, to float the offshore LNG.

The funds were allegedly used for other purposes. The anti-graft agency is also investigating the former governor’s alleged diversion of funds to acquire estates in the nation’s capital, Abuja, and Asaba in Delta State.

He is being held at the EFCC holding facility in Port Harcourt.When contacted on Monday evening, the EFCC spokesperson, Dele Oyewale, confirmed Mr Okowa’s detention but declined to give details.

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