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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OLOWO'S 5TH CORONATION ANNIVERSARY: COMMUNITY PLANS TO RAISE N1BN FOR DEVELOPMENT PROJECTS. (PHOTO).

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 Olowo’s 5th Coronation Anniversary: Community Plans to Raise N1bn for Development Projects


To celebrate the 5th coronation anniversary of Oba Ajibade Gbadegesin Ogunoye, the Olowo of Owo, the community is targeting to raise N1 billion for three key development projects.


Dr. Bode Ayorinde, Chairman of the Anniversary Planning Committee, announced that the funds will be used to construct a 5-kilometer perimeter fence around the Olowo’s palace, build a new mansion for the monarch, and create a modern reception hall for royal ceremonies and community events.


Ayorinde highlighted the importance of the fencing project to protect the palace, the largest in Africa, from encroachment. The new reception hall will cater to increasing needs for dignitaries and events, while the new mansion will uphold the dignity of the Owo Kingdom.


Additionally, 5,000 trees will be planted across Owo to address the impact of rainstorms on houses, with each household receiving a tree to plant and maintain.


Key dignitaries attending the anniversary include the Ooni of Ife, Oba Adeyeye Eniitan Ogunwusi, the Olu of Warri, Oba Ogiame Atuwatse, and other traditional rulers from various regions.


The week-long celebration will feature a health walk, medical outreach, tree planting, a novelty football match, chieftaincy title conferments, cultural events, and a thanksgiving service at the CAC Cathedral in Owo.

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