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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FRANCE BEGINS MILITARY WITHDRAWAL FROM CHAD, ARMY SAYS. (PHOTO).

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 France begins military withdrawal from Chad, army says


France has started the withdrawal of its military from Chad with the departure of two warplanes that were based in the capital N’Djamena, the French army said, two weeks after Chad said it was ending its defense cooperation pact with Paris, Reuters reported.


In a surprise move, the government of Chad — an ally of the West in the fight against Islamist militants in the region — ended the defense cooperation pact on Nov. 28.


Terms and conditions of the withdrawal and whether any French troops will remain in the central African country altogether have yet be to be agreed, but on Tuesday the first Mirage warplanes returned to their base in eastern France.


“It marks the beginning of the return of French equipment stationed in N’Djamena,” Army spokesperson Col. Guillaume Vernet said after two Mirage fighter jets left Chad.


France has already pulled its soldiers out of Mali, Burkina Faso and Niger following military coups in those West African countries and spreading anti-French sentiment.


The departure from Chad will end decades of French military presence in the Sahel region and ends direct French military operations against Islamist militants there.


France still has about 1,000 troops in Chad. Vernet said a calendar to drawdown its operations would still take several weeks for the two countries to finalize.


There were no indications Paris received advance notice of Chad’s decision to end its defense cooperation although a French envoy to President Emmanuel Macron delivered a report last month containing proposals on how France could reduce its military presence in Chad, Gabon and Ivory Coast.

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