Business
IPMAN Commends Bank Over Emadeb’s PMS Import
The Independent Petroleum Marketers Association of Nigeria (IPMAN), has commended Polaris Bank, and Emadeb Energy Services Limited, for their collaborative efforts and strategic partnership that resulted in the recent importation of 20,000 metric tonnes of premium motor spirit into the country.
National Operations Controller of lPMAN, Mr Mike Osatuyi, in a release, described the pioneering feat by Polaris Bank and Emadeb Energy as unprecedented.
He noted that they both made it possible for Nigeria to break the age-long monopoly in the downstream sector.
He specifically commended Polaris Bank for fully funding the whole cargo to the tune of N13bn, enabling the transportation of the 20,000 metric tonnes, or 27 million litres of petrol, to the country seamlessly.
He noted that the bank’s support exemplified the pivotal role played by the financial institutions to support the growth of the critical downstream sector of the economy.
Osatuyi said, “The NNPC’s many years of monopoly in terms of importation have been broken by Emadeb Energy Services Ltd.
“This is commendable, particularly for the company. Being the pioneer in tough terrain is not easy. But of specific interest is (Polaris Bank) the Bank that financed this feat.
“We were there to witness the event. We saw the cargo ship as it arrived. It is a huge investment. The Bank has demonstrated a strong belief in the market after deregulation. I call on others to emulate this”.
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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