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

-
Image
 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
Post a Comment

ASSET PROVIDERS INCREASE METER PRICES FOR DISCOS.(PHOTO).

-


 Asset Providers Increase Meter Prices For DisCos


Meter Asset Providers (MAP) have increased the prices of prepaid electricity meters, marking the second price increase in barely four months.


This revision follows an earlier price increase in August 2024, deepening concerns among electricity users regarding the growing cost and availability of meters.


Under current prices, the cost of a single-phase meter has risen from approximately N117,000 to N149,800, depending on the distribution company and meter vendor.


This new pricing structure, which took effect on Tuesday, November 5, 2024, aligns with the deregulation of the MAP as mandated by the Nigerian Electricity Regulatory Commission (NERC).


The updated prices vary across the different DisCos, influenced by factors such as the meter type (single-phase vs. three-phase) and the vendors involved.


Eko DisCo: Single Phase Meter: N135,987.5 to N161,035. Three Phase Meter: N226,600 to N266,600.


Ibadan DisCo: Single Phase Meter: from N130,998 to N142,548 while three Phase Meter increased from N226,556.25 to N232,008.04.


For Abuja DisCo, a Single Phase Meter which sold for N123,130.53 has been raised to N147,812.5 while the three Phase Meter previously N206,345.65 would now sell for N236,500.


Kano Electricity: Single Phase Meter: N127,925 to N129,999.75. Three Phase Meter: N223,793 to N235,425


Kaduna DisCo: Single Phase Meter: N131,150 to N142,548.94. Three Phase Meter: N220,375 to N232,008.04.


LEADERSHIP reports that the NERC has deregulated prices of meters which allows meter providers to bid every two months in line with new regulations.


According to NERC’s latest order, meter prices under the MAP scheme will now be determined through competitive bidding rather than being centrally regulated.


This shift is expected to foster greater competition among meter providers, ultimately improving cost efficiency and service delivery for end-users.


In addition, the deregulation removes earlier operational restrictions, allowing MAP permit holders to provide metering services across all Electricity Distribution Companies (DisCos) in Nigeria. However, MAPs must meet specific regulatory requirements to ensure compliance and maintain quality standards in service delivery.


Previously, NERC regulated meter prices, which were often subsidised across all DisCos to reduce costs for customers. While this model aimed to make metering affordable, it inadvertently stifled competition and limited transparency in the supply chain.


As a result, DisCos and customers were unable to negotiate or explore better deals from meter vendors, contributing to inefficiencies in the system.


The general manager, Corporate Communications and Strategy of Eko Electricity Distribution Company, Babatunde Lasaki, told our Correspondent that the DisCos uses four MAPs whose prices differ and the customer is entitled to choose from among them based on his choice.


Lasaki confirmed that the latest bidding was carried out on Tuesday and that DisCos no longer controls the pricing of meters.


With deregulation now in place, NERC anticipates a more dynamic metering ecosystem where customers and DisCos can benefit from competitive pricing, improved service quality, and greater accountability among meter providers.


This upward revision follows an earlier increase in August 2024, further amplifying concerns among electricity consumers about affordability and accessibility.


Lasaki further explained that meter prices vary across DisCos, influenced by vendors and meter models (single-phase and three-phase).

Comments

Post a Comment

Popular posts from this blog

INNOSON GIVES OUT BRAND NEW IVM G5 AND SALARY FOR LIFE TO THE MAN WHO PROPHESIED ABOUT HIS VEHICLE MANUFACTURING IN 1979.(PHOTO).

-
Image
Innoson Gives Out Brand New IVM G5 and Salary For Life To The Man Who Prophesied About His Vehicle Manufacturing In 1979.  Last Saturday, July 22nd the Chairman of Innoson Vehicle Manufacturing Company Ltd, Chief Dr Innocent Ifediaso Chukwuma OFR gave out a brand new Innoson IVM G5 to Mr Ikechukwu Osakwe popularly known as Osabros who prophesied to him in 1979 that he would be the first man in Africa to manufacture vehicles and sell to different African countries.  The prophecy was given at the period the then Innocent Chukwuma could not boast of a car, talk less of manufacturing one. According to Dr Chukwuma during the presentation of the car, he recalled on how Mr Ikechukwu Osakwe all the way from Kano blocked him at the front of his house early in the morning and told him he has a message for him.  Mr Osakwe went on to narrate a dream he had about him, how he saw in the said dream his vehicle manufacturing company known as CAP PLC. "He told me that CAP means Chukwuma Automobil
Read more

SHAKIRA COVERS WOMEN'S HEALTH MAGAZINE,APRIL ISSUE.

-
Image
             Gerard Pique,welcomed their first child into the world last year January.Shakira told the magazine that ''I think it takes two to keep it passionate in relationships,a lot of laughter and a lot of fun moments together,that's essential but also affinity,you know.You have to be compatible.I'm really happy where i am right now,with the person that i'm with right now.He seems to want the same things i want,and that's very important''.More pictures below.                                                                                                                    
Read more

SSANU, NASU THREATEN STRIKE OVER WITHHELD SALARIES. (PHOTO).

-
Image
  SSANU, NASU threaten strike over withheld salaries The Joint Action Committee of the Senior Staff Association of Nigerian Universities and the Non-Academic Staff Union of Educational and Associated Institutions have threatened to disrupt industrial peace in universities should the government fail to release the withheld salaries of members. The salaries were seized by the administration of former President Muhammadu Buhari during their strike in 2022. The unions, in a joint letter signed on Friday by the President of SSANU, Muhammed Ibrahim and General Secretary of NASU, Peters Adeyemi, questioned the rationale with which the government released four months withheld salaries to members of the Academic Staff Union of Universities but failed to release the withheld salaries of non-academic staff. The unions noted that they would no longer be able to assure the government of industrial peace in universities should the amounts owed by the government are not released. Earlier, the unions
Read more