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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FOUNDER OF FASHION CHAIN MANGO DIES IN ACCIDENT AGED 71.(PHOTO).

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 Founder of fashion chain Mango dies in accident aged 71


Isak Andic, the billionaire founder of high street fashion chain Mango, died in an "accident" on Saturday, according to the company.

Spanish media reported the 71-year-old fell down a ravine to his death while hiking in a mountain range outside Barcelona. 

His son was at the scene of the accident, according to the El Pais newspaper.

The Turkish-born businessman founded Mango in Barcelona in 1984 and the chain now operates in 120 countries. Forbes estimated Andic's net worth to be $4.5bn.

Mango CEO Toni Ruiz said in a statement: "His departure leaves a huge void but all of us are, in some way, his legacy and the testimony of his achievements. 

"It is up to us, and this is the best tribute we can make to Isak and which we will fulfill, to ensure that Mango continues to be the project that Isak aspired to and of which he would feel proud."

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