EDUN UNVEILS STABILISATION PROGRESS, ECONOMIC PRIORITIES IN ABUJA BRIEFING. (PHOTO). #PRESS RELEASE.

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 PRESS RELEASE EDUN UNVEILS STABILISATION PROGRESS, ECONOMIC PRIORITIES IN ABUJA BRIEFING In a landmark virtual briefing, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun presented a comprehensive update on Nigeria's economic trajectory to selected members of the media, highlighting significant progress, key priorities, and strategic initiatives to drive sustainable growth and development in the country. The Minister's briefing provided a detailed overview of Nigeria's economic stabilisation efforts, which have yielded notable results over the past 18 to 20 months. According to Minister Edun, the economy has pulled back from the brink of a fiscal crisis, with Nigeria recording 3.84% GDP growth in Q4 2024—close to the 3.4% annual target—while inflation began to ease, revenues increased, and the exchange rate showed signs of strengthening. Fiscal Discipline and Revenue Reform Edun reported a 20% increase in government revenue last yea...
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PETROAN AFFIRMS NNPCL FUEL MEETS STANDARDS AMID 'BAD FUEL' CLAIMS. (PHOTO).

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 PETROAN Affirms NNPCL Fuel Meets Standards Amid ‘Bad Fuel’ Claims


The Petroleum Products Retail Outlet Owners Association (PETROAN) has reaffirmed that the premium motor spirit supplied by the Nigerian National Petroleum Company Limited (NNPCL) complies with regulatory standards.


In a statement on Sunday, PETROAN spokesperson Joseph Obele dismissed concerns raised in a viral video that alleged NNPCL petrol burns faster than that from Dangote Refinery.


NNPCL had earlier described the video as baseless, clarifying that most of its petrol distributed in Lagos is sourced from Dangote Refinery. However, the claims have continued to spark debate.


Reacting to the controversy, PETROAN emphasized that as part of its industry oversight, it utilizes independent laboratories to test fuel quality before distribution. The tests assess flash point, density, viscosity, sulphur content, water content, and ash content, all of which, according to PETROAN, confirm that NNPCL products exceed required industry benchmarks.


The association stated that NNPCL’s fuel meets regulatory standards for sulphur content, minimizing engine corrosion and environmental pollution, while its water content remains well below the permissible limit, ensuring stability and preventing mechanical issues.


PETROAN also advocated for healthy competition in the industry, urging stakeholders to prioritize product improvement, invest in research and development, and enhance customer satisfaction rather than spreading misinformation.

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