DANGOTE REFINERY TO SUPPLY 60 MILLION LITRES OF PETROL WEEKLY TO IPMAN TO BOOST CRUDE IMPORTS. (PHOTO).

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 Dangote Refinery To Supply 60 Million Litres Of Petrol Weekly To IPMAN To Boost Crude Imports The Dangote Petroleum Refinery has reached an agreement to supply 60 million litres of Premium Motor Spirit (PMS) to the Independent Petroleum Marketers Association of Nigeria (IPMAN) on a weekly basis, which translates to 240 million litres per month. This comes as the $20bn Lekki-based refinery seeks to raise billions of dollars to import crude oil and increase production to reach its full capacity of 650,000 barrels per day. IPMAN National Publicity Secretary, Chinedu Ukadike, confirmed that the association is finalizing discussions with Dangote and expects to start lifting PMS from the refinery before the end of November. The agreement has already led to a drop in petrol prices by N10 to N15 due to increased competition in the downstream sector following deregulation. In the past 42 days, the Nigerian National Petroleum Company Limited (NNPC) and other marketers have imported over two bil
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COURT REJECTS RIVERS' BID TO BLOCK FUND ALLOCATION SUIT. (PHOTO).

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 Court rejects Rivers’ bid to block fund allocation suit


The Federal High Court in Abuja, on Friday, denied a request by the Rivers State Government to stay proceedings in a suit seeking to halt the allocation of funds to the 23 Local Government Areas in Rivers State.


The presiding judge, Justice Joyce Abdulmalik, dismissed the request after hearing arguments from the State’s counsel, Gordy Uche, and the plaintiffs’ counsel, Joseph Daudu. The judge found the request to be unmeritorious and mischievous.


The court asserted its intent to proceed with the hearing of the suit.


The Rivers State House of Assembly and its Speaker, Martin Amaewhule, had filed the suit, urging the court to direct the Central Bank of Nigeria to withhold the state’s local government fund allocation.


The Rivers State Government opposed the hearing of the suit in Abuja, but the court overruled the objection, leading the state government to approach the Court of Appeal to intervene.


The state government subsequently filed an appeal, marked CA/ABJ/CV/1197/2024, along with a motion to stay proceedings in the Federal High Court until the appeal is resolved.

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