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Marketers Will Pay Naira for Dangote Fuel -IPMAN

Aliko Dangote Refined petroleum products from the $20bn Dangote Petroleum Refinery are to be sold in naira and not in the United States dollar as speculated in some quarters, oil marketers clarified on Monday. Dealers in the downstream oil sector also stated that the registration process for marketers at the refinery was still ongoing, as many operators had continued to register with the plant. It was further gathered that officials of the Nigerian Midstream and Downstream Petroleum Regulatory Authority were meeting with the management of the refinery to perfect the pricing template for products produced by the facility. On January 12, 2023, the Dangote Petroleum Refinery announced the commencement of production of Automotive Gas Oil, also known as diesel, and JetA1 or aviation fuel. The President, Dangote Group, Aliko Dangote, had in a statement issued by the firm, said, “We have started the production of diesel and aviation fuel, and the products will be in the market within this mon...
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Explosion rocks Lagos timber market

The inferno engulfing the market

Goods and property worth billions of naira have been destroyed as explosion rocks the popular Amu Timber Market in Mushin area of Lagos, Southwest Nigeria.
Residents of the area were rudely woken up as they heard massive explosions around 12:20am.
Dr. Femi Oke-Osanyitolu, spokesperson of Lagos’ emergency agency said there was a fire outbreak in the market which culminated in heavy explosions of plywood/asbestor.
The Lagos State Emergency Management Agency, LASEMA’s Director-General said his men came to the scene on time with the Lagos State Fire Service officials to battle the fire.
He said the intensity of the fire became high due to wooden and polyvinyl materials, as several efforts had been deployed to put out the fire.
Oke-Osanyintolu said there was no loss of life, but disclosed that two houses had already caught fire while the main market of about 2,200 sqm with materials worth billions of naira had already been consumed in the fire disaster.
In his words: “Around 12:20 early hour of this morning, there was fire outbreak that suddenly culminated into heavy explosions of Plywood/Asbestor. Immediately, Lagos Fire, Federal fire and LASEMA service were escalated. However, the intensity of the fire became high due to wooden and polyvinyl materials.
Fire at Amu Timber Market
 PM News also reported that “Several efforts had been deployed to put out the fire and efforts is going on as at now. No loss of life. Two houses have already caught fire while the main market of about 2200 sqm with materials worth billions of naira have already been consumed in the fire disaster,” he said.
He said further investigations at the incident site revealed that the fire was caused by an electrical surge.
However, the inferno is currently being combated by the combined efforts of LASEMA Fire Unit with two fire trucks, Julius Berger Fire Unit with two fire trucks and a water tanker, the Lagos State Fire Service with two fire trucks, the Federal Fire Service, the RRS, LNSC and the community.

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Location: Lagos, Nigeria

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