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Depot price hike: Marketers jostle to join Ardova, Heyden in Dangote Refinery bulk-purchase incentives

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Attracted by the bulk-purchase agreement incentives being offered by the Dangote Petroleum Refinery, more oil marketers in the country are jostling to be listed as beneficiaries of the agreement.

The bulk-purchase agreement, the petroleum marketers reasoned, offers a guaranteed price stability as against purchase from depot owners whose price is opened to incessant upward review as has just been announced.

Recall that two prominent players in Nigeria’s downstream oil and gas sector – Ardova Plc and Heyden Petroleum – have entered into a bulk purchase agreement with the Dangote Petroleum Refinery after MRS; a situation they have leveraged on to sell petroleum at a much cheaper pump price.

The depot owners recently jerked up their loading price to N950 per liter from N909 citing increase in the price of crude oil in the international market, a situation that has forced most independent marketers to raise their pump price too to reflect the new higher price from the depot owners.

The Independent marketers are referring to the benefits of the bulk-purchase agreement with Dangote Refinery as being enjoyed by the three leading oil marketers, MRS, Ardova Plc and Heydey who have entered into the purchase agreement with Dangote refinery and are able to retain their lower pump price.

National President of Independent Petroleum Marketers Association (IPMAN), Alhaji Abubakar Maigandi Garima has confirmed that the association members are eager to sign on with Dangote Refinery and that they have been advised to do so by organizing themselves to pool resources together to be able to qualify for the bulk-purchase agreement.

Justifying the IPMAN new position, he said members could not continue to depend on depot owners for products when they can buy directly from the refinery bearing in mind that the minimum quantity to buy from Dangote Refinery is two million litres at N909 per litre.

The management of the Dangote Refinery citing economic relief provided by President Bola Ahmed Tinubu’s crude-for-naira swap initiative had announced a bulk-purchase offer incentives to the three leading downstream sector operators, so that Nigerians could heave a sigh of relief on the reduced pump price.

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As the MRS, Ardova Plc and Heyden keyed into the arrangement, other petroleum marketers besieged the Refinery in Ibeju-Lekki, Lagos, seeking to be part of the bulk purchase deal, which guarantees steady supply of petroleum products and at competitive prices.

The desire to be part of the bulk-purchase agreement, it was also gathered, was also apparently being fueled by the testimonies from motorists who have been praising the impressive burn rate of fuel sourced from Dangote Refinery and sold in MRS filing stations which they said lasts longer compared to other products imported into the country and sold by others.

Dangote Refinery had said the strategic move was designed to further stabilise the nation’s fuel market and enhance energy security for consumers, as it would guarantee steady supply of petroleum products at affordable prices.

The bulk purchase agreement incentive by Ardova and Heyden came on the heels of a drop in the pump price of petrol by the management of MRS Oil Nigeria Plc, which had previously entered into a similar agreement with Dangote Refinery.

As a result, MRS Oil lowered its fuel prices to N935 per litre across all its stations nationwide, addressing the long-standing issue of price disparities between states. Furthermore, MRS Oil’s stock surged to a new 52-week high recently, as investors became increasingly optimistic about the company’s future earnings prospects.

Reports indicate that the bulk purchase agreement with Dangote Petroleum Refinery had also enabled both Ardova and Heyden to secure a reliable and consistent supply of petroleum products from the world’s largest single-train refinery at competitive prices, benefiting consumers across the country.

The arrangement ensures that Ardova and Heyden will have access to a full range of refined products, thereby securing their operations with a reliable supply chain. Other petroleum markers, reports said, are keen on signing similar agreement with Dangote Refinery as soon as they are allowed to, as most of them have majority of their filing stations in Lagos close to Dangote Refinery.

After signing the agreement, Ardova Plc, it would be recalled, had in a statement underscored the importance of this agreement in fostering a more competitive environment within Nigeria’s downstream oil and gas sector.

The partnership with Dangote Refinery is poised to have a positive, transformative impact on Nigeria’s oil and gas market. By ensuring a stable and affordable supply of fuel products in the over 1,000 retail outlets of the two companies, the agreement will help to alleviate the recurring issue of fuel scarcity that has long plagued Nigeria.

 

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PenCom Alleges Non-adherence to Pension Laws

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By Yusuf Danjuma Yunusa

 

The National Pension Commission has said that only seven states and the Federal Capital Territory are fully implementing pension reform laws despite widespread adoption of contributory pension frameworks across the country.

 

The Director-General of the National Pension Commission, Mrs Omolola Oloworaran, disclosed this on Thursday in Abuja during the maiden edition of the bi-annual consultative session for heads of service of states yet to adopt or fully implement the Contributory Pension Scheme or the Contributory Defined Benefits Scheme.

 

She said, “Out of the 36 states with pension reform laws on their books, only seven states, together with the Federal Capital Territory, are fully implementing these laws.”

 

The session was organised to encourage dialogue with affected state heads of service and to explore practical ways in which PenCom could provide technical support for the successful adoption and implementation of pension reforms at the sub-national level.

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According to Oloworaran, 30 states and the FCT had enacted laws on the contributory pension scheme or the contributory defined benefits scheme, while six states still had pension reform bills awaiting passage in their state assemblies.

 

She noted that 23 states had pension laws that were either inactive or only partially implemented, leaving many civil servants uncertain about their retirement future.

 

“That leaves 23 states whose laws are written, inactive, or only partially being implemented. Twenty-three sets of public servants or civil servants whose retirement future hangs in the balance, not because there is no law, but because the law has not been activated,” she said.

 

The PenCom boss described pension reform as a constitutional and fiscal obligation rather than a policy option, citing Section 210 of the 1999 Constitution, which guarantees pension rights for civil servants.

 

She said the old pension structure had failed because it created uncertainty and unsustainable liabilities, adding that the contributory pension scheme was introduced to promote accountability, sustainability, and transparency in pension administration.

 

Oloworaran stressed that the main challenge facing many states was no longer the passage of pension laws but the discipline required for implementation, including regular remittance of pension contributions and adequate funding of accrued pension rights.

 

“Across our states, the challenge is no longer the enactment of laws. The challenge is the discipline of execution. It is the regular and timely remittance of contributions. It is the adequate and consistent funding of accrued pension rights,” she stated.

 

She urged heads of service to see pension reform as part of their governance legacy, noting that the success or failure of implementation in states would largely depend on their commitment.

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NECO Computer-based Exams Will Commence this Year–Education Minister

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By Yusuf Danjuma Yunusa

 

 

The Federal Government on Thursday unveiled a major reform in Nigeria’s examination system with the introduction of computer-based examinations, CBE, by the National Examinations Council, NECO, as the nation celebrated the examination body’s 25 years of existence amid glowing tributes to its rise from a troubled national initiative to an internationally recognised.

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The minister of education, Dr Tunji Alausa, who announced the reform at NECO’s Silver Jubilee celebration in Abuja, declared that the transition to technology-driven examinations would significantly curb examination malpractice and reposition Nigeria’s assessment system for global competitiveness.

 

Speaking at the event held at the Bola Ahmed Tinubu Conference Centre, Garki, Abuja, Alausa described NECO as a “standard-bearer for credible external examinations”, saying the council had become a critical pillar in safeguarding integrity, fairness and accountability in Nigeria’s education sector.

 

“We are at the threshold of a very important reform, which NECO is spearheading, and that is the Computer-Based Examination, which is to commence this year,” the minister said.

 

According to him, the new system would provide real-time monitoring of candidates, track suspicious activities and drastically reduce examination fraud that has continued to undermine confidence in public examinations.

 

The minister said NECO’s 25-year journey reflected Nigeria’s determination to build a credible national examination system capable of guaranteeing equal opportunities for learners across the country.

 

He noted that the council had over the years strengthened examination security, improved reliability in scoring, widened access to examinations in underserved areas and embraced technological innovations that restored public confidence in national certification.

 

 

Alausa said the Ministry of Education would continue to provide policy direction and oversight to ensure NECO examinations aligned with national curricula, learning outcomes and broader development goals.

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2026Hajj: Nigerian Pilgrims Begin Movement from Madinah to Makkah

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By Yusuf Danjuma Yunusa

 

The National Hajj Commission of Nigeria (NAHCON) has announced that Nigerian pilgrims in Madinah have begun their movement to Makkah as of Thursday.

 

According to an update from the commission, the transfer commenced after the pilgrims had completed a four-day stay in Madinah.

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NAHCON further disclosed that the four official airlines handling this year’s Hajj operations—Max Air, Umza Airline, Air Peace, and Flynas—have so far transported 9,756 pilgrims to Saudi Arabia.

 

The commission also advised pilgrims intending to visit the Rawdah (the sacred area containing the Prophet Muhammad’s burial chamber in Madinah) before departing for Makkah to coordinate with their respective State Pilgrims’ Welfare Boards for proper guidance and scheduling.

 

“NAHCON wishes to assure the Nigerian contingent that officials of state pilgrims’ welfare boards have already been trained and adequately guided on the procedures for booking Rawdah visits,” the statement read.

 

“However, pilgrims are kindly reminded that due to congestion and crowd management measures, access to the Rawdah is strictly subject to space availability and approved bookings. Pilgrims are therefore advised to remain patient, orderly, and to heed the guidance of their Ulama regarding the validity and acceptance of their Hajj rites.”

 

The commission emphasized that while visiting the Rawdah is a blessed opportunity, it is not a condition for the validity of Hajj.

 

“Allah grants such opportunities according to His will,” NAHCON added.

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