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Hike: PMS, Diesel rose to  N679.36, N1,257.06/l in February – NBS

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The National Bureau of Statistics (NBS), says the average retail price of a litre of petrol increased from N263.76 in February 2023 to N679.36 in February 2024, while the price of a litre of diesel increased from N836.91 in February 2023 to N1,257.06 in February 2024.

The bureau disclosed this in its Petrol Price Watch for February 2024, released in Abuja on Wednesday.

It said that the February 2024 price of N679.36 represented a 157.57 percent increase over the price of N263.76 recorded in February 2023.

“Comparing the average price value with the previous month of January 2024, the average retail price increased by 1.66 percent from N668.30.

“On state profile analysis, Zamfara paid the highest average retail price of N750.43 per litre, followed by Kebbi and Taraba at N746.67 and N710.56, respectively.

“Conversely, Kwara, Ogun and Benue paid the lowest average retail price at N650.00, 650.83 and 652.73,” the bureau said.

The report said analysis by zones showed that the North-West zone recorded the highest average retail price in January 2024 at N701.20, while the South-West recorded the lowest price at N657.20 per litre

Also NBS stated in its Diesel Price Watch for February 2024 released, price amounted to a 50.20 per cent increase over the price in February 2023.

“On a month-on-month basis, the price increased by 9.02 per cent from the N1,153.01 per litre recorded in January 2024,” it added.

The bureau stated also that in state profile analysis, the highest price of diesel in February 2024 was recorded in Akwa Ibom at N1,525 per litre, followed by Gombe State at N1,500 per litre and Kwara at N1,444 per litre.

It stated that the lowest price was recorded in Adamawa at N1,037.50 per litre, followed by Kano at N1,111.43 per litre and Katsina State at N1,125 per litre.

“Analysis by zones showed that the South-South had the highest price of N1,343.09 per litre, while the Southwest recorded the lowest price at N1,164.05 per litre,” it added.

Energy

MEMAN, FRSC, NMDPRA unite to tackle truck accidents in Nigeria

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By Abdulsalam Abdullah

The Major Oil Marketers Association, (MEMAN), Federal Road Safety Corps, (FRSC) and Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA) have convened to address the recent surge in truck accidents in 2024.

The meeting was aimed to find solutions to this pressing issue and improve road safety in the country.

In attendance was the Executive Secretary, Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN).

The meeting, which was aimed to address the alarming rise in truck accidents this year, yielded several key takeaways to improve truck safety on the roads.

MEMAN, in collaboration with FRSC and NMDPRA, has committed to implementing various measures to enhance truck safety.

These include mandatory annual training for drivers and biannual truck integrity evaluations at FRSC-approved centers, phasing out old trucks in favor of new ones with advanced safety features, and ensuring no trucks older than 15 years transport dangerous goods.

Additionally, the group planned to leverage technology by implementing on-board computers, tracking devices, and intelligent cameras to monitor and enhance road safety, with control centers established for 24/7 truck monitoring.

They will also identify and address critical road infrastructure issues, emphasise the importance of truck maintenance, and advocate for the reduction of truck sizes.

NMDPRA will update truck specifications, monitor compliance, and approve new safety technologies, while FRSC will enforce strict Safe-To-Load (STL) inspections and driver’s qualifications.

Regular campaigns will be conducted to promote safe driving culture and enhance driver welfare to protect both assets and lives.

Through this collaborative effort, MEMAN, FRSC, and NMDPRA are paving the way for safer roads and better transportation practices in Nigeria.

The commitment is a significant step towards reducing the number of accidents and ensuring the safety of lives and assets.

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Nigeria’s installed prepaid meters rate climbs to 44.39%

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The total number of installed prepaid meters in the country currently reaches 5,842,726 out of 13,162,572 registered electricity customers, amounting to a paltry 44.39 percent.

According to data made available by Nigerian Electricity Regulatory Commission, NERC, revealed that in the fourth quarter of 2023, eleven Distribution Companies, DisCos, installed only 111,225 meters to customers across the country.

While Ikeja Disco has the highest percentage of installed prepaid meters which stands at 73 percent from its 898,000 customers; followed by Abuja Disco which has metered 61percent of its 856,000 registered customers.

Yola Disco has metered only 15 percent of its 124,000 customers, while Kaduna and Kano Discos have metered only 24 percent each from its 206,000 and 210,000 registered customers.

Meanwhile IBEDC, AEDC and EEDC installed the highest number of prepaid electricity meters in Q4 2023, while KEDC, YEDC and EEDC installed the least number of meters in the period under review.

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Nembe road project: NDDC, Shell partnership demonstrates power of collaboration — Alaibe

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A former Managing Director of the Niger Delta Development Commission (NDDC), Chief Ndutimi Alaibe has commended the NDDC and Shell for the the completion and inauguration of the 25.7-kilometre Ogbia-Nembe Road.

Speaking during the inauguration ceremony of the N24.4 billion road with seven bridges, 53 culverts and 4 spurs, linking 14 communities, Alaibe said it was a good example of what could be achieved through collaboration of development agencies and transformative power of partnership.

Speaking further, he said the partnership between NDDC and Shell Petroleum Development Company (SPDC) has yielded tremendous results, showcasing the splendid synergy between the two organisations.

Alaibe canvassed for a more robust funding for the NDDC, stating that the Treasury Single Account, TSA, framework was a drawback to the expected rapid development of the Niger Delta region, stressing that policy posed unnecessary limitations for the interventionist agency.

He advocated the removal of the Commission from operating under the TSA framework on account of its mandate to fast-track the development of Nigeria’s oil-rich region.

Also speaking at the occasion, the former Governor of Bayelsa State and Senator representing Bayelsa West Senatorial District, Senator Henry Seriake Dickson, commended the NDDC, SPDC, and other partners, including the government of Bayelsa State on the successful completion of the Ogbia-Nembe Road and Bridges.

He said, “This achievement is a significant milestone for the Niger Delta region and a testament to the collaborative efforts of all involved.

“I am delighted to witness the inauguration of this vital infrastructure today. The Ogbia-Nembe Road and Bridges serve as a crucial link in the eastern part of Bayelsa State, benefiting 14 communities and enhancing connectivity in the region. It brings me great satisfaction to see this project come to fruition, especially considering the support it received during my tenure as the Governor of Bayelsa State.”

In his speech, the Governor of Bayelsa State, Senator Duoye Diri, represented by the Deputy Governor, Senator Lawrence Erujakpo, noted the contributions of the state to the realization of the project. He recalled that at some point, the project was stalled due to compensation issues, insecurity and lack of funds.

He stated, “The Bayelsa State government donated N3 billion for this project, which was instrumental in its continuation and completion. I want to thank the Nembe and other communities for their cooperation. I thank Shell, NDDC, and others. We are open to more collaborations with the NDDC for future projects. If we collaborate, the journey will be swift. While competition is healthy, collaboration, as demonstrated by the Bayelsa State government, is better.”

Top-ranking senators, led by Senate Committee Chairman on Niger Delta, Senator Asuquo Ekpeyong, graced the occasion and the leader of the delegation emphasised the need for  continuity in administration, citing Lagos State as an example of sustained development initiated by President Bola Ahmed Tinubu.

“If the NDDC continues from where they left off, they will lead the region and align with the 10th Senate. As you continue in the spirit of continuity, you will rise in the annals of time. I urge the IOCs to continue partnering with the NDDC to develop the region,” Senator Asuquo said.

“I give kudos to the board and management of NDDC and also commend the SPDC while calling on other IOCs to partner with this development commission and make the Niger Delta great again.”

In her goodwill message, the Chairman, House Committee on NDDC, Hon. Erhiatake Ibori-Suenu, applauded the NDDC and SPDC for their valuable collaboration, noting: “The foundation of community success and development often begins with a well-established road network, and the NDDC has undoubtedly excelled in this regard. I urge the NDDC to continue in implementing impactful projects that will further enhance economic activities and positively impact the lives of the people.”

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