NNPCL Reduces Petrol Price
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The Nigerian National Petroleum Company Limited (NNPCL) has reduced the price of Premium Motor Spirit (PMS) to N965 per litre at its retail outlets in Abuja, down from N1,030 per litre. This marks the second price cut in less than two weeks, providing some relief to Nigerians facing rising fuel costs. Meanwhile, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has also reduced prices to N935 per litre, following Dangote Refinery's decrease in ex-depot price.
In other news, President Bola Tinubu had his first-ever media chat since taking office in May 2023. The president addressed key policies, including the removal of fuel subsidies, the harmonisation of foreign exchange rates, and his stance on maintaining the current size of his cabinet. Tinubu also defended his decision on fuel price increases, stressing that these actions were necessary for long-term economic recovery.
Additionally, the Federal Government has declared total victory over the Lakurawa terrorist group, eliminating their presence in Nigeria after a successful military campaign. In Delta state, a disturbing crime unfolded, with four suspects arrested after kidnapping and beheading a victim in a ritualistic act. The Nigerian Army has also urged Nigerians to embrace peaceful coexistence and unity, while in Mozambique, Daniel Chapo has been proclaimed president in disputed elections that sparked protests and violent clashes.
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