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...

SUSPECTED ILLEGAL MINERS RAID NIGER STATE ESTARE, STEAL VALUABLES. (PHOTO).


 Suspected Illegal Miners Raid Niger Estate, Steal Valuables


A group of over a dozen armed robbers, believed to be illegal miners, stormed the MI Wushishi Estate in Minna on Saturday, robbing six flats and making off with valuables and cash. The attack, which occurred around 2 a.m. and lasted for more than an hour, unfolded without any intervention from security forces.


Residents of the estate, which has more than 700 flats, have voiced increasing frustration over the repeated raids, which they attribute to illegal miners drawn to the area’s rich gold deposits.


One resident, Abdullahi Abubakar, recalled a similar attack in November, when robbers ransacked several homes. "The illegal miners have made it impossible for us to live peacefully," he said.


Dan Yaya, the son of a former Niger State Head of Service, shared his terrifying experience during the raid. He described how one robber, who pretended to be a vigilante, was spotted outside his home. Soon after, two others jumped over the fence and entered the compound. The robbers threatened his family, forcing him to hand over N29,000 and mobile phones.


Yaya also suspected that the robbers had prior knowledge of the estate's layout, as one of them wore a face mask and seemed familiar with the area.


Muhammad Bello, the Commissioner for Homeland Security, confirmed the attack and assured residents that security forces were addressing the situation. However, Niger State Police spokesperson Wasiu Abiodun stated that no official report had been filed regarding the robbery.

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