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Dangote Refinery reaffirms commitment to affordable and quality PMS

The Dangote Refinery has reassured the public of steady, high-quality PMS supply, countering PETROAN and IPMAN’s claims of importing PMS at lower prices. The refinery warns that such reduced prices result from dumping substandard fuel, threatening Nigerians’ health and shortening vehicle lifespans, posing greater economic and social burdens. The NNPCL increased petrol prices by 2.71% in October from N998/litre to N1,025/litre.

Controversies around the proposed tax reforms

The September 2024 proposed tax reform bill has sparked debate on changes to the VAT distribution formula. Under the new framework, the states’ allocation will follow a derivation principle, rewarding states with higher consumption rates. Objections over fairness and equity have prompted calls for the bill’s withdrawal, highlighting the need for clear government communication to build stakeholder alignment.

The price of 12.5kg of cooking gas skyrocketed to N16,313.43

In September, the price of a 12.5kg cooking gas surged by 76.41% to N16,313.43 in September (yoy). This sharp increase is attributed to strong domestic demand and foreign exchange pressures, given that 60% of LPG is imported. Enhanced and consistent supply from Nigeria LNG (NLNG) to gas plant operators could help stabilize and reduce cooking gas prices in the near term.

FDC’s M.D., Mr. Bismarck Rewane, and Manager, Terver Kumeka, discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated programmes, respectively.

Click the link  to watch the video.

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