National Wire About Nigerians, Nigerian Business and Other Stories
A market survey that The Nation embarked upon yesterday confirmed that the Nigerian National Petroleum Corporation (NNPC) mega station on Olusegun Obasanjo Way, Abuja sold the Automative Gas Oil (AGO) also known as diesel for N160 per litre.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed that its members have reduced the price of diesel to N170 per litre. Speaking on phone, its National Vice President, Alhaji Abubakar Maingadi, said the price reduced from last week N180 and N190.
He however attributed the decline to the deregulation of the price by the Nigerian National Petroleum Corporation (NNPC). He said the “price is coming down because of deregulation,” urging the Federal Government to deregulate the entire petroleum sector. He noted that the price of Premium Motor Spirit (PMS) will also crash if the NNPC deregulates its price.
The Corporation’s General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu had on Sunday said the price dropped by 42 per cent owing to the NNPC strategic intervention efforts.
$300m Diaspora bond will be used for capital projects, says Dabiri-Erewa.
The Senior Special Assistant to the President on Foreign Affairs and Diaspora, Mrs Abike Dabiri-Erewa, has affirmed that the net proceeds of the $300 million maiden Diaspora bond issued by the Federal Government will be used to finance capital projects.
In a statement by her media assistant, Mr. Abdurrahman Balogun, Dabiri-Erewa urged all Nigerians to buy into the first-ever Diaspora offer and contribute to ongoing national developmental efforts.
She said the net proceeds from the bond would be used to finance capital projects to enhance the economy’s development. Her office, she noted, has noted great enthusiasm among Nigerians in the Diaspora as the first ever Diaspora bond is being rolled out to the benefits of Nigerians.
According to her, subscription to the bond is a unique way of lubricating the interest of Nigerians in the Diaspora to participate in the developmental projects being carried out by the Muhammadu Buhari administration.
