PETROL LANDING COST DROPS TO N970 PER LITRE-MARKETERS. (PHOTO).

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 Petrol Landing Cost Drops to N970 per Litre – Marketers In a positive sign for the downstream sector's stability, the Major Energy Marketers Association of Nigeria (MEMAN) has announced a slight decrease in the landing cost of Premium Motor Spirit (PMS), or petrol, which fell to N970 per litre in December 2024, down from N971 per litre in November 2024. This decrease comes amid a similar drop in crude oil prices, which fell to $73.77 per barrel from $74 per barrel the previous week. According to MEMAN's daily energy bulletin, which was shared with Vanguard, the new landing cost is based on a crude oil price of $73.91 per barrel (Brent) and an exchange rate of N1,533.57/$. However, MEMAN also cautioned that international petroleum product prices are subject to significant volatility, influenced by geopolitical and economic factors, including developments in the Middle East, market trends in China, and the recent outcome of the U.S. elections. The foreign exchange rate is also f...
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S. A : FOUR SUSPECTS NABBED FOR ILLEGAL MINING ACTIVITIES IN LULEKANI. (PHOTO).

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 FOUR SUSPECTS NABBED FOR ILLEGAL MINING ACTIVITIES IN LULEKANI

Four suspects, Tawurai Muranda (28), Sinbarashe Moyo (30), Syton Muzemba (32) and Eric Mudau (33) appeared before the Lulekani Magistrate’s Court facing charges of illegal mining and contravention of immigration act. They were remanded in custody until 25 October 2024 for further police investigations.


Their arrest comes after the members of the SAPS Operation Vala Umgodi team, together with the SANDF and other stakeholders, proceed to disrupt illegal mining activities in Mopani District.


The team was on operation when they received information about active illegal mining at Scheiding Farm, Gate 03, in the Lulekani policing area.


They swiftly went to the location and found a group of people illegally mining minerals. The suspects noticed the police and ran to different directions. Four suspects aged between 28 and 33 were then arrested, and police seized also the illegal mining equipment.


The illegal mining equipment included shovels, spades, picks, iron bars, hammers, torches, and cellphones.


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