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NNPC Spends N1bn Daily As Petrol Subsidy Hits N19.37/Litre

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Reports from the Petroleum Products Pricing Regulatory Agency on Tuesday shows that the Nigerian National Petroleum Corporation has been subsidising the cost of Premium Motor Spirit (PMS), popularly known as Petro, consumed across the country by N19.37 per litre.

On several occasions the NNPC had disclosed that Nigeria consumes between 55 million to 60 million litres of PMS daily.

Further findings from the PPPRA showed that the landing cost of petrol as of November 18, 2019 was N144.7/litre, while the distribution margin was put at N19.37/litre.

For instance , in its July 2019 financial and operations report, NNPC said a total of 55.74 million litres of petrol was consumed across the country on a daily basis.

Going by a daily consumption of 55 million litres and the N19.37 subsidy which the corporation currently incurs on every litre of PMS consumed in Nigeria, the national oil firm is spending about N1.1bn daily on subsidy.

A summation of the landing cost and the distribution margin gives the total and actual cost of the commodity, which was put at N164.07/litre.

The commodity is, however, sold at a regulated price of N145/litres at filling stations across the country.

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Drama As US-based Model Accidentally Uploads ‘Cozy’ Photo With Davido

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A U.S-based model identified as Bonita Maria has caused a stir on social media after inadvertently sharing a ‘cozy’ photo of herself and Nigerian singer, Davido.

The photo which has sent the internet into a frenzy captured the model and Davido in what appeared to be an intimate pose.

The duo could be seen close together in a relaxed, comfortable pose, with Davido’s arm around her.

Despite the photo’s swift retraction, it quickly made rounds across various social media platforms, with netizens speculating on the nature of their relationship.

Although as of press time, representatives of the singer are yet to comment on the trending photo.

READ ALSO: I’d Rather Go To Hell Than Sign Under Davido, Wizkid Or Burna Boy – Brymo

Davido, a prominent figure in the Afrobeats music scene, has been under the public eye for both his musical achievements and personal endeavors.

With numerous awards and accolades to his name, including multiple MTV Africa Music Awards and BET Awards, Davido has established himself as a global ambassador for Afrobeats music.

The singer’s distinctive style, characterized by infectious rhythms and catchy melodies, has earned him a dedicated fan base worldwide.

 

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Nigeria May Adopt Chinese Water Transport System

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Nigerian maritime stakeholders and authorities have concluded plans to understudy the Chinese waterways transport model with a view to perfecting Nigeria’s waterways transportation system.

In a statement, the Head of Maritime Roundtable Breakfast Meeting, MBRBM, Mrs Tosan Edodo-Emore, said that China being the largest country with the largest inland waterways is apt to teach Nigeria on how best to manage and improve water transport system.

READ ALSO: Troops Ambush Terrorists On Transit To Cause Havoc In Kaduna, Neutralize Two

She said that the Consul General of the People’s Republic of China, Madam Yan Yuqing, is expected to share the Chinese experience with the Sino-Nigeria Maritime Relationship and lessons to be learnt from China at the summit scheduled for April 18, 2024.

According to the Edodo-Emore, the Summit themed, “Security and New Technologies in Inland Waterways Transportation”, will have some heads of maritime institutions

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NAFDAC Alerts Nigerians On Banned Soap

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The National Agency for Food and Drugs Administration and Control (NAFDAC), has drawn Nigerians’ attention to the ban on Dex Luxury Bar Soap (No 6 Mystic Flower), by European Union (EU).

The notification is contained in a public alert with No. 012/2024, signed by NAFDAC Director-General, Prof Mojisola Adeyeye, and issued to newsmen in Abuja on Sunday.

The product does not comply with the cosmetic products regulation; it also contains Butyphenyl Methylpropional (BMHCA), which is prohibited in cosmetic products due to its risk of harming the reproductive system.

READ ALSO: NAFDAC Shuts 10 Bakeries, Eight Water Factories In Rivers

“It also causes harm to the health of unborn children and may cause skin sensitisation.

“It is as a result of the defective nature of the product that the EU banned it.

“The products is not in NAFDAC database; importers, distributors, retailers and consumers are to exercise caution and vigilance within the supply chain,” she said.

READ ALSO: NAFDAC, PCN Raid, Seal 1,321 Patent Medicine Outlets In Kano

Adeyeye called on marketers and consumers to avoid the importation, distribution, sale and use of the product, saying that product’s authenticity and physical condition must be carefully checked.

She called on members of the public in possession of the product to discontinue sale or use, and submit stock to the nearest NAFDAC office.

The NAFDAC boss advised healthcare professionals and consumers to report any suspicion of adverse reaction or substandard and falsified regulated products to the nearest NAFDAC office on 0800-162-3322 or via email: sf.alert@nafdac.gov.ng.

She also encouraged healthcare professionals and patients to report adverse events or side effects related to the use of the product, to the nearest NAFDAC office.

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