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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BANDITS KIDNAP FORMER HOUSE OF REPS MEMBER JOSEPH HARUNA KIGBU. (PHOTO).

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 Bandits Kidnap Former House of Reps Member Joseph Haruna Kigbu


On Monday evening, bandits abducted Joseph Haruna Kigbu, a former member of the House of Representatives, while he was en route to Jos.


The incident took place around 6:00 p.m. between Nunku in Akwanga Local Government Area, Nasarawa State, and Gwantu in Sanga Local Government Area, Kaduna State.


During the attack, the assailants killed the police escort assigned to Dr. Kigbu, who had tried to thwart the abduction.


A source reported that the bandits fired their weapons indiscriminately, causing widespread panic among motorists in the area.


Local residents confirmed that the incident occurred in a region known for frequent criminal activities.


Efforts to reach the spokesman for the Nasarawa State Police Command for confirmation were unsuccessful, as calls went unanswered at the time of this report.

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