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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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WHC Solar Trains 300 Youths in Kano to Prevent Installation Errors, Fire Outbreaks

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WHC Solar, a Chinese company specialising in solar energy products, has trained about 300 youths in Kano State on the technical installation and configuration of solar power systems to improve safety and expand employment opportunities in Nigeria’s renewable energy sector.

The one-day training, held at Tahir Guest Palace in Kano on Saturday, attracted participants from different parts of Nigeria and beyond, with practical sessions focused on the proper installation of inverters, lithium batteries and other solar power components.

Speaking at the opening of the programme, the company’s Chief Executive Officer, Clint Chan, said the training was organised to equip solar installers with the technical knowledge and practical experience required to deliver quality services to customers.

Chan explained that the company had observed that some solar installers lacked sufficient technical knowledge, resulting in installation errors that could damage equipment or cause fire outbreaks.

He said the initiative was aimed at addressing such challenges by improving the competence of technicians and promoting the safe and efficient use of solar energy systems.

“We noticed that some installers may not fully understand the technology, which can lead to mistakes that could damage a product or even cause fire outbreak,” Chan said.

He added that the training would help participants develop their technical capabilities and become more experienced professionals capable of contributing to society through improved service delivery.

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According to Chan, the practical sessions covered the installation and configuration of inverters and lithium batteries, including how the different components communicate and function together within a solar power system.

He said proper understanding of the relationship between the components was essential to ensuring that solar installations operated efficiently, safely and in accordance with technical requirements.

Chan also reaffirmed the company’s commitment to the Nigerian market, saying WHC Solar intended to continue investing in the country’s renewable energy sector and supporting the growing demand for solar power solutions.

He disclosed that the company had a service centre in Kano, through which it provided support for customers using its solar products in residential homes, commercial establishments and industrial facilities.

The chief executive said participants who completed the programme were expected to receive certificates in recognition of their participation and the technical knowledge acquired during the training.

Chan further stated that the company, which he said had been operating for about 10 years, was committed to making solar energy solutions available to Nigerians for domestic, commercial and industrial applications.

Also speaking at the event, Sani Abdulkadir, popularly known as ABDK, said he attended the training as a distributor of the company’s products.

Abdulkadir explained that customers experiencing technical problems with WHC Solar products could take them to the company’s service centre for repairs, adding that some repairs could be completed within 24 hours.

He commended the company for organising the training and creating opportunities for young Nigerians to acquire technical skills that could improve their employment prospects and support self-reliance.

Abdulkadir noted that the growing adoption of solar energy in Nigerian households reflected increasing public interest in alternative electricity sources.

“Before, you could count the number of houses using solar energy, but the situation is changing as more people are embracing it,” he said.

He expressed optimism that the expansion of solar energy adoption would create more opportunities for trained technicians, distributors and other professionals working in the renewable energy value chain.

The training comes amid growing interest in solar power solutions among Nigerian households and businesses seeking alternative sources of electricity, with technical expertise and proper installation remaining important factors in ensuring the safety, reliability and durability of solar systems.

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Emir Sanusi Seeks Compensation, Reallocation of Demolished Eid Ground Stalls

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The Emir of Kano, Muhammadu Sanusi II, has appealed to the Kano State Government to compensate traders affected by the demolition of shops at the Filin Idi market in Kofar Mata, Kano, and reallocate stalls to enable them to resume their businesses.

Professor Ibrahim Muazzam Mai Bushira disclosed this during a special prayer session organised by traders affected by the demolition at the Eid Ground in Kofar Mata, where participants prayed for divine intervention and government assistance to alleviate their hardship.

According to Mai Bushira, the Emir has written to Governor Abba Kabir Yusuf, requesting compensation for the affected traders and appealing for measures to address the economic losses they have suffered following the demolition.

He expressed hope that Almighty Allah would reward the Emir for his intervention and urged Governor Yusuf to consider the demands of the traders to enable them to rebuild their businesses and restore their livelihoods.

Mai Bushira said the demolition had caused severe hardship among traders, many of whom depended on their shops as their primary sources of income. He added that some affected individuals had reportedly died, while others had developed high blood pressure following the destruction of their businesses and the resulting economic difficulties.

He explained that the prayer session was organised to seek Allah’s intervention in their predicament and pray for the restoration of their livelihoods, noting that the destruction of the shops had adversely affected the lives of many families who depended on the market for survival.

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Speaking at the gathering, Professor Ahmad Muhammad of the Federal University, Dutse (FUD), described Kano as a major commercial centre and called on the Kano State Government to pay attention to the plight of the affected traders and the economic implications of the demolition.

Professor Muhammad also appealed to international entrepreneurs and investors to explore opportunities to support the development of the market, stressing that the destruction of the shops had resulted in substantial financial losses running into billions of naira.

He urged the government to consider establishing a modern market at the location, arguing that the Filin Idi market was not merely a trading centre for Kano but also an important commercial destination for traders from different parts of Nigeria and across Africa.

According to him, the market provides livelihoods for more than one million people, directly and indirectly, making its reconstruction and rehabilitation important to the economic well-being of Kano and its trading community.

The professor further stressed the need for a sustainable solution that would enable displaced traders to return to business, restore commercial activities and protect the economic interests of the large population that depended on the market.

In his remarks, the Chairman of the affected traders’ association, Auwal Said Umar, expressed appreciation to Almighty Allah and Emir Sanusi II for their support and intervention in the traders’ situation.

Umar said many of the affected traders were currently unable to engage in their usual commercial activities because their shops had been demolished, leaving them without the means to sustain their businesses and families.

He disclosed that the market previously had about 700 blocks of shops before the demolition, adding that many traders lacked the financial capacity to reconstruct their businesses without assistance from the government.

The association chairman said the government had allocated 75 stalls for reconstruction but appealed for an increase in the number to accommodate more affected traders and enable them to return to their businesses.

Umar called on the Kano State Government to provide additional support, stressing that the existing allocation was insufficient to address the needs of the large number of traders who lost their shops during the demolition.

The traders urged the government to work with their association and other relevant stakeholders to develop a lasting solution that would provide adequate trading spaces, restore commercial activities and ease the economic hardship caused by the demolition.

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Gombe flags off the disbursement of the second batch of the AGILE Conditional Cash Transfer

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Gombe State Government has flagged-off the distribution of ATM cards to Adolescent Girls in public schools under the Conditional Cash Transfer,CCT of the Adolescent Girls Initiative for Learning and Empowerment, AGILE Project.

Speaking at the flagging off of the disbursement at Government Junior Secondary School Malamsidi central in Kwami Local Government area, the Honourable Commissioner of Education, Associate Prof Aishatu Umar Maigari said the disbursement of the CCT is part of the Governor Muhammadu Inuwa Yahaya’s zeal and passion for the girl child education in the state.

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She said the concept is also geared towards supporting parents to cater for their children to remain in schools up to completion of their secondary education.

Associate Prof Aishatu Umar Maigari then assured the students that the government will continue to bring more educational policies that will further support students to pursue education with ease.

Earlier, the project coordinator of the AGILE, Dr. Amina Abdul noted that with the disbursement of the second cohort of the conditional cash transfer, the project was able to record significant improvement in enrollment and retention of students in schools across the state.

The project coordinator therefore urged parents to utilize the funds judiciously through supporting the education of their children.

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