Business
Committee Commences Monitoring Of Petroleum Marketers In PH
A taskforce set up by
the Department of Petroleum Resources (DPR) to monitor the activities of petroleum marketers in Rivers State has commenced operations.
This follows the refusal of some of these marketers to return to the official pump price of N97 per litre of petrol, as some of the marketers, especially the independent marketers are still selling between N120 and N130 per litre of petrol.
Speaking to journalists in Port Harcourt at the commencement of monitoring operations, Wednesday, the chairman of the committee, Mr Emmanuel Amadi, stated that the committee would go after marketers that sell above approved price.
He said that the committee would leave no stone unturned in ensuring that those flouting government regulation on approved pump price are put on check. Some of the petrol stations he said flouted regulations on their visit who still sell above N97 per litre include SOBAZ filling station on Aba road, Conoil also on Aba Road and Whiz station on Rumuosi-Choba Road, among others.
Meanwhile, some petrol consumers have been lamenting over the continuous exploitation of consumers by marketers as they still sell above N97 per litre without any interference from the government agencies for some time now. They, however, blamed the federal government for allowing the masses to suffer in the hands of petroleum marketers which is aggravated by outage of electric power. It would be recalled that some petroleum marketers have refused to return to the approved pump price in Port Harcourt even after the fuel scarcity was over some weeks ago.
Corlins Walter
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.