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Energy Analyst, Adeoye Highlights Complexities Of Nigeria’s Petrol Pricing Amid Dangote Refinery Launch

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Energy policy analyst, Adeyemi Adeoye has highlighted the complexities of Nigeria’s petrol pricing following the launch of the Dangote Refinery, stressing the importance of informed dialogue and the critical role of negotiations between private refineries and the Nigerian National Petroleum Company Limited (NNPC Ltd).

He shared his views during an appearance on TVC News on Friday, which was monitored by our correspondent.

Adeoye emphasized that the emotional responses to petrol pricing have diminished since the refinery’s inauguration. “When we take sentiment out of the conversation, then the real talk can begin,” he remarked, advocating for a more rational dialogue about the oil industry.

He clarified that the NNPC Ltd was not serving as a regulator in the current deregulated environment, a point, which he contends remains misunderstood by many.

He explained, “The sentiment and undue emotions surrounding this conversation since the advent of the Dangote Refinery are subsiding. When we take the sentiment out of the conversation, then the real discussion can begin.

“The oil industry has an operational manual; there is a way it functions. We all own the NNPC. Ordinarily, if it is representing the interests of Nigeria, in this deregulated system we have seen, especially since the PIA (Petroleum Industry Act) came into effect. The NNPC is not a regulator.

“This is a point many people still do not understand. If it were a regulator, its role would be to come out in the open, maybe via a press conference, and announce the price at which the government would be selling. But, as we’ve seen, it is still the Dangote Refinery that announces the prices, and we also need to take this into consideration.

“What is happening now is a joint venture. The NNPC is familiar with joint ventures. They have joint ventures all over the upstream sector with different international oil companies operating in Nigeria, and this is what has developed between the Dangote Refinery and the NNPC — it’s a joint venture.

“The NNPC supplies Dangote Refinery with crude oil and, in return, gets refined products for Nigerians. Essentially, this is the ongoing relationship, and that is why negotiation was important. If you observe, you will notice that Dangote Refinery has not announced a price.

“Dangote did not announce a price because they need to negotiate properly, and the NNPC is the chief negotiator in this instance because it supplies the crude oil, just as the government supplies crude to Dangote.

“Dangote is also sourcing crude from Brazil and the U.S., but the NNPC is supplying crude, and on the strength of that, it goes into the negotiation.

“The key takeaway for Nigerians is that the NNPC has announced that Dangote Refinery is free to deal with any marketer on a willing buyer, willing seller basis. However, the negotiation did not start at the price announced by NNPC or Dangote. The negotiation started at a higher price, for very obvious reasons.

“In the United States (US), the average price for gas (petrol) is $3.33 per gallon. If you divide a gallon, which is about 4 liters, you get around N5,279. Breaking it down, that’s about N1,119.75 per liter. So, this is the amount Dangote would have sold it for.

“It wouldn’t have been less than N1,300. If Dangote is allowed to operate purely as a business entity, there is nothing wrong with that. But without negotiations, Nigerians could have been paying no less than N1,300 for fuel because it is an international product.

“Nigerians need to understand that to refine crude oil, you first need to produce crude oil, and producing crude oil involves what is called an oil rig.

“The cheapest oil rig you can get costs around $100,000 to $150,000 per day. So, if you have a marginal field and you are paying $150,000 per day for your crude, you will also have to pay for the vessel to transport it to Dangote.

“Dangote is not going to pay you in Naira; it is going to pay you in dollars. These are all factors that affect the pricing. It is not like other commodities; it is an internationally determined commodity, and the pricing is not something easy to determine.

“That’s why Dangote couldn’t come out to announce pricing immediately. It had to first negotiate with its suppliers, which in this case is the NNPC.” he added

 

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Anointing Shouldn’t Hinder You From Being Romantic, Adeboye Urges Couples

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Pastor Enoch Adeboye, General Overseer of the Redeemed Christian Church of God, has emphasised the importance of romance in marriage alongside spiritual commitments.

In a message shared on his Facebook page, Adeboye disclosed that he and his wife, Foluke, still use affectionate pet names in private, noting that “anointing does not diminish romance.”

He encouraged married couples to nurture intimacy and romance, ensuring their marriages remain vibrant and joyful.

He explained that some pastors avoid romantic activities, believing it distracts from their spiritual focus.

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Adeboye emphasised that being anointed should not negate the need for romance, drawing an example from the Bible.

He wrote, “The fact that you are a Christian does not in any way take romance out of your marriage. Marriage is the only institution where romance and intimacy are allowed between a man and a woman.

“Some pastors hardly go on dates with their spouses because they consider such a romantic activity as a distraction from their focus on spiritual matters. Some of them don’t even play with their spouses anymore. Beloved, the anointing does not reduce the need for romance in marriage.

“Isaac was an anointed man of God and a successful businessman, yet in Genesis 26:8, the Bible says he was being romantic with his wife.

“And it came to pass, when he had been there a long time, that Abimelech king of the Philistines looked out at a window, and saw, and, behold, Isaac was sporting with Rebekah his wife. Don’t become too rigid in your marriage; don’t have more fun elsewhere without your spouse. Make the times that you and your spouse spend together so much fun that you are always looking forward to seeing each other again. If you are married, remember how you used to talk for long hours with your spouse before you got married and had children; revive that relationship again. Your spouse is still the same fellow you were very fond of, and the things you loved in him or her are still there. Don’t let all the cares of this life distract you from the gems in your spouse.

Adeboye suggested simple acts like writing notes, using pet names, and surprising each other to keep the romance alive.

“Once in a while, compose a poem for your spouse and read it to him or her in a romantic setting. Spice things up with pleasant surprises every now and then. Write a note and put it in his or her bag so that when they get to the office and open their bag, they will see the note and smile. Have a pet name that you call each other behind closed doors.

“Up until today, there is a pet name my wife calls me when we are alone. I equally have a pet name that I call her, and every time I call her by that name, she cannot but smile at me lovingly. When we are alone, we are lovers, not Daddy G.O and Mummy G.O. Your marriage can be like heaven on earth if you and your spouse are deliberate about remaining the lovebirds that you were when you first got married.

“Don’t let the romance die.” he added.

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FG Launches Investigation Into Mpape Earthquake Activity

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The Federal Government has embarked on a comprehensive probe into the recent earthquake activity in Mpape, Abuja.

Uche Nnaji, Minister of Innovation, Science, and Technology, reported on Wednesday that a specialized team from the Centre for Geodesy and Geodynamics at the National Space Research and Development Agency (NASRDA) is utilizing cutting-edge seismic analysis tools to investigate the tremors.

Data from seismographs indicate that the seismic events included three foreshocks and three aftershocks, with the principal quake occurring at 11:18:37 p.m. It had a magnitude of 3.1 and a depth of 11 km.

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Initial findings suggest that the tremors may be due to the reactivation of local fault lines in Mpape, a region previously affected by similar events, including those in early September 2018.

Nnaji assured the public that NASRDA is diligently monitoring the situation and advised residents to stay composed.

The government is also examining data from seismic and GNSS networks to develop appropriate response strategies.

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Sowore Reports Bag Missing After Release From Detention

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Omoyele Sowore, the 2023 presidential candidate for the African Action Congress (AAC) and the convener of Revolution Now, has reported a missing bag following his recent detention by immigration authorities.

Sowore, who was held upon his return to Nigeria from the US, made the announcement shortly after his release at Lagos International Airport on Sunday.

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In a widely circulated interview on Arise TV on Sunday evening, Sowore revealed that, although his passport was returned, one of his bags—specifically a large one—was still unaccounted for.

He expressed concern that the Department of State Services (DSS) might have taken it, though the airline has indicated that the bag was tracked and should have arrived.

Sowore further disclosed that he is awaiting further clarification on the bag’s whereabouts and hopes no foul play was involved.

He said, “After they gave me back my seized passport I went to get my bag. Of course one of my bags was missing. My big bag.

“I hope it’s not the DSS that stole it. It is missing but after reaching out to the airline to look for it. The airline said the tracker on my phone from the America shows that the bag arrived. But like I said, I hope they didn’t try to do something stupid with my bag.”

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