OIL PRICE NG

The Nigerian Ports Authority (NPA) on Sunday announced the berthing of the largest container to sail on the nation’s territorial waters at the Lekki Deep Seaport.

Mr Mohammed Bello-Koko, the Managing Director, NPA confirmed this in a statement in Lagos.

According to him, the vessel measuring 367M in length, christened “Maersk Edirne”, has a breadth of 48.2 and carried a Gross Registered Tonnage of 142,131 metric tonnes.

He added that the vessel which had a Dead Weight Tonnage of 147,340 metric tonnes, constituting 3,376 total cargo onboard, was navigated to safety by the highly experienced and thoroughly equipped pilots of the NPA.

“This development validates the assurances I gave during the signing of the Presidential/Ministerial Performance Bond in December 2023.

“The authority under my watch is poised to provide the leadership and technical guidance required to maximise the potentials inherent in our marine and blue economy,” he said.

Bello-Koko while responding on the milestone, commended the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, for the consistent support and endorsement of the authority’s initiatives.

He also commended the minister for investments in employee upskilling and equipment renewal, which made the milestone seamlessly achievable.

“Before this time, the largest commercial vessels to sail on Nigerian waters were “MV Stadelhorn” and “MSC Maureen” at Onne Port and TinCan Island Port Complexes, respectively.

“Thus, the berthing of a ship measuring 367 meters at Lekki Deep Seaport, represents a quantum leap forward.

“The Lekki Deep Seaport has by this feat, in addition to its pioneering of full automation and facilitation of transhippment, proven its readiness to exceed stakeholders’ expectations,” he said.

Source: vanguard

The National Bureau of Statistics has revealed that the average price for refilling a Liquefied Petroleum Gas (Cooking Gas) cylinder in Nigeria has increased again, putting more pressure on Nigerian households. According to NBS’s latest price watch report, the average retail price for refilling a 5kg cylinder of cooking gas increased by 2.79% on a month-on-month basis from N4,828.18 recorded in November 2023 to N4,962.87 in December 2023.

While on a year-on-year basis, 5KG cooking gas prices increased by 8.70% from N4,565.56 in December 2022. PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed! The report also revealed the average retail price for refilling a 12.5kg cylinder of liquefied petroleum gas (cooking gas) increased by 3.18% on a month-on-month basis from N11,155.15 in November 2023 to N11,510.16 in December 2023. On a year-on-year basis, the retail prices rose by 12.31% from N10,248.97 in December 2022.

States with the highest, lowest prices

According to NBS, Adamawa recorded the highest average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N5,725.33, followed by Jigawa with N5,686.88, and Lagos with N5,671.05. On the other hand, Ebonyi recorded the lowest price with N4,071.43, followed by Imo and Abia with N4,088.24 and N4,155.88, respectively, Punch reports.

For 12.5G state profile analysis, Cross River recorded the highest average retail price for the refilling of a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N13,572.22, followed by Edo with N13,265.63 and Delta with N13,041.67. Conversely, the lowest average price was recorded in Ebonyi with N10,142.86, followed by Imo and Anambra with N10,150.90 and N10,264.29, respectively. 10 states with highest Cooking gas prices(12.5kg) Cross River – N13,572 Edo – N13,265 Delta – N13,041 Jigawa – N12,909 Benue – N12,720 Kogi – N12,700 Nasarawa – N12,445 Ekiti – N12,556 Yobe – N12,000 Kwara – N11,992

“Full List”: 7 major marketers get approval to sell Dangote fuel Earlier, Legit.ng reported that about seven major oil marketers in Nigeria have registered with the Dangote Petroleum Refinery to lift and distribute refined petroleum products from the plant. Dealers under the auspices of the Major Oil Marketers Association of Nigeria (MOMAN) confirmed on Sunday, January 14, 2024, that with the registration, they would begin the distribution of fuel produced at the plant once the commercial terms are finalized.

The development comes as the refinery reportedly sought the Nigerian Midstream and Downstream Petroleum Regulatory Auth.

source: legit.ng

The National Bureau of Statistics has revealed that the average retail price per litre of Household Kerosene (HHK) paid by consumers in January 2023 was N1,362.27. Ads by 00:52 / 04:01 This is an increase of 23.33% compared to N1,104.61 a litre of kerosene recorded in December 2022. NBS stated this in its latest price watch report published on its website.

On a month-on-month basis, the average retail price for a litre of kerosene rose by 5.84% compared to N1,287.10 recorded in November 2023.

Breakdown of Kerosene price by states On state profile analysis, the highest average price per litre in December 2023 was recorded in Abuja with N1,650.00, followed by Ogun with N1,609.52 and Benue with N1,594.44. On the other hand, the lowest price was recorded in Kwara with N917.14, followed by Rivers with N969.70 and Nassarawa with N1,071.43., Punch reports. Breakdown of Kerosene price by zones In addition, analysis by zone showed that the South-West recorded the highest average retail price per litre of Household Kerosene with N1,455.21, followed by the North-West with N1,420.48, while the South-East recorded the lowest with N1,264.49. Kerosene price by gallon NBS also revealed that the average retail price per gallon of household kerosene paid by consumers in December 2023 was N4,529.92, indicating a decline of 1.17% from the N4,583.44 average consumer price recorded in November 2023.

On a year-on-year basis, this increased by 20.69% from N3,753.38 in December 2022. State breakdown by gallon On state profile analysis, Bauchi recorded the highest average retail price per gallon of Household Kerosene with N5,600.00, followed by Lagos with N5,273.53 and Ekiti with N5,234.38. On the other hand, Delta recorded the lowest price with N3,234.29, followed by Bayelsa and Kaduna with N3,538.03 and N3,560.00, respectively. Analysis by zone showed that the North-East recorded the highest average retail price per gallon of Household Kerosene with N5,077.08, followed by the South West with N5,014.48, while the South-South recorded the lowest with N3,957.17 in the last month of 2023.

“Full List”: 7 major marketers get approval to sell Dangote fuel Earlier, Legit.ng reported that about seven major oil marketers in Nigeria have registered with the Dangote Petroleum Refinery to lift and distribute refined petroleum products from the plant.

Dealers under the auspices of the Major Oil Marketers Association of Nigeria (MOMAN) confirmed on Sunday, January 14, 2024, that with the registration, they would begin the distribution of fuel produced at the plant once the commercial terms are finalized.

source: Legit