The Dangote Petroleum Refinery has expanded its free petroleum products delivery initiative to Kano, Imo, Anambra and Nasarawa states, as it seeks to cut distribution costs for independent petroleum marketers and create room for lower petrol prices. The initiative, which initially covered Lagos, Ogun, Rivers, Kaduna, Abuja and Delta, is designed to move refined products closer to marketers and retailers while reducing the cost of transporting petrol over long distances from the refinery. By absorbing delivery costs, Dangote Refinery is taking on one of the major expenses built into Nigeria’s downstream petroleum distribution chain. The company said the move is particularly important for marketers supplying states far from the refinery, where haulage, vehicle operations, driver costs, insurance, road risks and …
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Former Vice President of Nigeria and Presidential Candidate of the African Democratic Congress (ADC), Atiku Abubakar, has unveiled details of his proposed petroleum subsidy reform, declaring that his administration would replace Nigeria’s old import-subsidy architecture with a targeted, capped, transparently budgeted and independently audited production subsidy designed to lower energy costs while accelerating domestic refining. Atiku, in a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, said the Atiku Economic Recovery Plan (AERP) 2027 recognises that the choice before Nigeria is not simply between subsidy and no subsidy, but between an opaque intervention that breeds waste and a disciplined economic instrument that delivers measurable benefits to citizens. Under the AERP, qualifying public and private Nigerian refineries …
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The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has announced a major breakthrough in Nigeria’s maritime sector, following the decision by the United States Coast Guard (USCG) to lift the Condition of Entry (CoE) imposed on vessels arriving in the United States from Nigeria. The development brings to an end a 12-year regime of enhanced security requirements on vessels calling at Nigerian ports before entering the United States and marks a significant milestone in the Federal Government’s efforts to strengthen maritime security, improve port competitiveness and enhance Nigeria’s standing in the global maritime industry. The Condition of Entry, which took effect on June 25, 2014, required vessels destined for the United States that had called at designated Nigerian …
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