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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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PETROL SUBSIDY REMOVAL: NEC BACKS PLANNED DISTRIBUTION OF GRAINS, FERTILIZER STARTING JULY 24

 

PETROL SUBSIDY REMOVAL:
NEC BACKS PLANNED DISTRIBUTION OF GRAINS, FERTILIZER STARTING JULY 24

Vice President Kashim Shettima 

* Supports proposed cost-of-living allowance for civil servants

* Endorses deployment of CNG vehicles for public transportation

The National Economic Council (NEC) has thrown its weight behind the planned distribution of grains and fertilizer to Nigerians by the Federal Government through the Central Bank of Nigeria to mitigate the impact of the removal of petrol subsidy on citizens.

The decision was part of resolutions reached today at the 4th meeting of the Council chaired by Vice President @KashimSM at the State House Executive Council Chambers, Abuja. 
The decision was taken after a presentation by the NEC Adhoc Committee on cushioning the effect of petrol subsidy removal was made by Anambra State Governor, Prof. @CCSoludo.  

Speaking after deliberations on the presentation, Sen. Shettima read the resolutions of the Council noting, “we will also pursue vigorously, the mass deployment of CNG-powered vehicles and establishment of autogas conversion plants/kits in all States in the short-term and deployment of electric buses and cars with charging infrastructure across the country.”

The meeting also resolved to support enhanced engagements between State Governors and the leadership of the labour unions across the States, and proposed the provision of the cost-of-living allowances to be paid to civil servants in both the State and Federal Civil Services. 

The Council agreed to support federal Government’s efforts to scale up infrastructure especially to give attention to fixing dilapidated highway roads across the country.

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