The naira has been listed among the worst-performing currencies in Sub-Saharan Africa in 2024.

This is according to the latest edition of Africa’s Pulse, a new report by the World Bank.

As of the end of August 2024, the naira had depreciated by approximately 43 per cent year-to-date, making it one of the region’s weakest currencies alongside the Ethiopian birr and South Sudanese pound.

The depreciation of the naira is attributed to several factors, including surging demand for United States dollars in the parallel market, limited dollar inflows, and delays in foreign exchange disbursements by Nigeria’s central bank.

The World Bank’s report further highlights that demand for dollars, driven by financial institutions, non-financial end-users, and money managers, has exacerbated the pressure on the naira.

It noted, “By August 2024, the Ethiopian birr, Nigerian naira, and South Sudanese pound were among the worst performers in the region. The Nigerian naira continued losing value, with a year-to-date depreciation of about 43 per cent as of end-August.

“Surges in demand for US dollars in the parallel market, driven by financial institutions, money managers, and non-financial end-users, combined with limited dollar inflows and slow foreign exchange disbursements to currency exchange bureaus by the central bank explain the weakening of the naira.” 

This situation has persisted despite some foreign exchange market reforms introduced by the Nigerian government, including the liberalization of the official exchange rate that began in June 2023.

However, these efforts have so far been insufficient to stabilize the currency.

The naira’s struggle reflects broader economic challenges in Nigeria, including limited foreign currency reserves and ongoing inflationary pressures.

The report also notes that the naira’s depreciation has contributed to higher domestic prices, particularly for imported goods, compounding the difficulties for Nigerian consumers.

In contrast, some African currencies that faced challenges in 2023, such as the Kenyan shilling and South African rand, have shown signs of recovery this year.

The Kenyan shilling, for instance, strengthened by 21 per cent year-to-date by the end of August 2024, marking it as one of the region’s top performers.

Despite this, foreign exchange shortages and exchange rate pressures remain a significant concern for many African economies.

The PUNCH, however, observed that the naira appreciated by 5.69 per cent against the dollar on Monday, according to data from the FMDQ Exchange.

The exchange rate improved from N1,641.27/$1 on Friday, October 11 to N1,552.92/$1 on Monday, October 14.

Despite the naira’s recovery, foreign exchange turnover plummeted by 44.27 per cent, falling from $616.73m to $343.71m over the same period.

In its report, the World Bank offers a cautious outlook for Nigeria’s economic growth, projecting that its Gross Domestic Product will expand by 3.3 per cent in 2024 and slightly accelerate to 3.6 per cent in 2025-2026.

The report read: “Economic growth in Nigeria is projected at 3.3 per cent in 2024 and 3.6 per cent in 2025–26 as macroeconomic and fiscal reforms gradually start yielding results. Inflation peaked in June 2024 (at 34.2 per cent year-on-year) and decelerated to 33.4 per cent in July and further to 32.2 per cent in August.”

It also noted that following the Nigerian government’s decision to remove fuel subsidies in mid-2023, gasoline prices surged dramatically, causing a ripple effect on inflation across the country. The report notes that this policy change, which saw gasoline prices triple initially, further increased by an additional 40-45 per cent in September 2024, driving up transportation and logistics costs for businesses and consumers alike.

In July 2024, inflation reached 34.2%, and although it showed signs of easing in August, the recent hike in gasoline prices is expected to reverse this trend and potentially push inflation higher in the coming months.

“Bros, na wah for you oh. How person go dey call you, you no go pick call?”

“A beg. My head no straight these days.” 

“Are you okay? You sick?”

“I sick. I sick well, well, well.”

What is the matter? And your wife could not call family? These women! What is going on?”

“I sick oh. Because my salary can no longer take me home. Nobody is increasing salaries. They don’t even pay as at when due anymore. When I buy fuel, the thing evaporates in 24 hours. My heart is perpetually pumping up and down. My body aches. And Madam is putting me under pressure that we have not yet paid the children’s school fees. I am sick. I can feel it in my bones. Have you not noticed that the fuel we buy these days simply evaporates?

“My brother. Bros. Na wah.”

“Tell me where are we going in this country?”

“President Tinubu and his wife are certain that we are going somewhere that is good. Mrs. Tinubu made the point the other day that we, Nigerians are not seeing what the Lord is doing and that in two years, we will all see the truth.”

“Like Saul who became Paul on the road to Damascus. I beg. Let nobody deceive me. Na hungry I hungry, I am not blind oh. I can see what is going on in Nigeria. What is the Lord doing in Nigeria that Mrs. Tinubu is talking about? She goes to Ife, visits her alma mater, Obafemi Awolowo University and donates one billion Naira. What does she do for a living?  Where did she get the money from? And then she says we, Nigerians must learn to work hard. Oh. Oh. These people. So, I don’t have one billion Naira because I am lazy? And then on top of it all, the Ooni of Ife erects a fake gold statue in her honour. Rochas Okorocha Iberiberism in Ife! And I am here, looking for quality fuel. This country is not okay, I swear.”

“E lo fokan bale. I believe that everything will be okay. President Tinubu is working on it. He is on a working vacation. From England to France. As a Christian, I believe that you will soon see what the Lord is doing.”    

“I can see what is going on. We must stop blackmailing God in this matter. I can see that the leaders of Nigeria do not care enough about us. They are going about in luxury jets, SUVs, yachts, and Nigerians are told to work harder and be patient. It is the slave master’s logic. And the President says he is on a working vacation. Okay, what working vacation? It is either you are on vacation which is legitimate, perfectly legitimate. But you are working and you are on vacation? What an oxymoron! And Mrs. Tinubu gets a statue in Ile Ife? As what?” Tell me.”

“As our wife. First Lady. Mother of the Nation. Yoruba wife.”

“I have told you. We are not okay in this country.” 

“But I disagree with you that the President cannot go on a working vacation? Mr. Bayo Onanuga has made it clear that the President can run this country from anywhere on the planet. If he so wishes he can leave France and go to Australia and stay there till the end of the year.”

“No. No.  No.  I disagree. Number One. Why must he always go to Britain and France? Number Two. It is not true that he can stay away from Nigeria for as long as he likes. Sections 145 and 146 of the 1999 Constitution are very clear. If he is going to be away due to vacation or incapacitation, he is required by the Constitution to hand over to his Deputy. Did he hand over to the Vice President? Did he inform the National Assembly? He just carried his bags and said he was going on a working vacation? President Tinubu is undermining the Nigerian Constitution.” 

“It is his prerogative. He is President. He can delegate as he wishes. The Nigerian President is a monarch. That is the truth.” 

“They say he is on a working vacation. I want to know what work he has done. He had to leave Britain just when that country was hosting business leaders from every part of the world to discuss the future of investment and Britain’s economic growth. It would have been a great networking opportunity for Nigeria. But our President left.”

“Again. You miss the point. The International Investment Summit in Central London was strictly by invitation. Elon Musk who wanted to be at the Summit, so desperately, was not invited. Other leaders in the world were not invited. The Summit is not a gathering of the tribes and former colonies.”

“Okay I get the point. Nigeria was not considered important enough. So what work did President Tinubu do or that you know that he did during this working vacation? Nigerians have the right to know” 

“No. You cannot order the President around. He is not your prisoner. He is a monarch. Get that straight. Why do Nigerians think that because this is a democracy, they can order the President and his wife around anyhow? What is wrong with us? In fact, we should count ourselves lucky. The people of Cameroon have just been told that it is a breach of national security to talk about the whereabouts of President Paul Biya. Biya was last seen in September when he appeared on television at a function in Beijing. He is 91 years old. He has been ruling Cameroon for more than 41 years, the second longest ruling monarch after Teodoro Obiang Mbasogo of Equatorial Guinea. Tinubu is just two years on the throne, you are looking for him. Come on man, he is still better than Paul Biya. I dare say he is even better than President Buhari who spent a total of more than a year outside the country.”

“And is that good for Nigeria? I ask. Answer. Is that how anybody should run a serious country?” 

“Don’t worry yourself, Nigeria will survive. We will always survive. President Tinubu told us, have you forgotten? E lo fokan bale.” 

“I have my doubts. I am anxious. Which fokan bale is that? Very soon men will lose their wives because they will no longer be men at home. Wives will give up their husbands and homes will be ruined.” 

“Be patient bro. Two years.” 

“Two years, with this hardship?”

“Something will come up. Naija no dey carry last. Our God will never forsake us.” 

“Will you stop that crap? Let the Pastors say that on Sunday to their congregations. All these Pastors who ride limousines and private jets and they preach hope to their poorly-fed church members.”

“Touch not my anointed. Thou shall not speak ill of the people of God.”.  

“Very soon, I will stop going to Church. No more paying of tithes. I will use the money to buy fuel and food. The Pastors are still telling people Nigeria go better because people still go to their churches. When people stop showing up, then they will know that something has gone wrong with Nigeria.” 

“People will always go to church. The Pastors preach hope. Hope keeps us alive.” 

“Go and mark my words. Nigeria is heading to a crossroads where hope will no longer show the way, hope without purpose and direction means nothing. The road called hope must be paved with clear targets. Please where are we?”

“As we speak, I am on my lunch break at work, munching on something, thinking aloud with you” 

“I am angry”

“I believe. I hope that tomorrow is another day. Nigeria always survives. We can’t go on like this, yes. Something may change the course of our history. Look at Guyana, a country of 800, 000 people. As of 2009, that country was famous for eco-tourism and its rain forests. In 2015, Exxon Mobil found oil in large quantities in its coastal waters. Today, Guyana, a former British colony way back in 1796, is now an oil rich country, so rich the Prime Minister is promising people free money and free opportunities, the country’s colonial architecture is giving way to glass sealed buildings. It is a new day in Guyana. The Lord that did it for them in that country can do it also for us in Nigeria”

“Bad example. Bad comparison.  Nigeria already travelled through that road before. We found oil and the country scattered. What has oil brought us? It has brought to a point where we cannot even refine our fuel. Something that flows in some people’s father’s backyards. It has brought us to a point where a man from a state where there is no crude oil is now the one refining fuel for Nigeria making all the people who boast about our oil, na my papa get am, look truly stupid.”

“That is life. You can have something, talk about it and not know what to do with it. God has a hand in it. He will then bring somebody who can do it.” 

“You always talk back and forth, here and there. I do not know what your people are doing.” 

“Which my people? I don’t know them oh. I am just trying to be a good person?”

“You are a PDP man then?”

“Which PDP? Those ones that will fight from now till 2028. They will wake up after the 2027 elections have been won and lost”

“Are you cursing the PDP? The main opposition party in the country?”

“Let me quote Daniel Bwala jare. Kokoro ti n je efo, inu efo lo wa? The maggot that is spoiling the vegetable is inside the vegetable. Do you get it?”  

“I get it. No hope for the APC either. Things are so bad even Libya is now insulting Nigeria, in football.” 

Many persons that I know and that are dear to me have been celebrating their birthdays in the last week and one of them, Pastor Kayode Owolabi turns 60 on October 17. On October 10, Professor Is-haq Oloyede turned 70. He is the current Registrar and Chief Executive of the Joint Admissions and Matriculation Board (JAMB), a Commander of the Order of the Niger (CON) and a Fellow of the Nigeria Academy of Letters. He is also the Secretary General of the Nigerian Supreme Council of Islamic Affairs, the 8^th and former Vice Chancellor of the University of Ilorin, former Chairman of the Association of Vice Chancellors of Nigerian Universities and Committee of Vice Chancellors, and former President of the Association of African Universities. 

Oloyede is one of such Diamonds who have spent a lifetime excelling in whatever they do, from his emergence as a National Merit Scholar (a distinction I proudly share with him) to graduating with a First Class Honour  (we are in that boat together too), to becoming a Professor in 1995 (I left university teaching to become a talking head in the media). He later became the Vice Chancellor of his alma mater in 2007. Oloyede’s tenure as Vice Chancellor in Ilorin was regarded as the brightest moments in that University’s history. He is a focused, committed scholar and a man who pays great attention to details. He has proven his measure as Registrar of JAMB, a position to which he was appointed by President Muhammadu Buhari in 2016. In eight years, Oloyede has turned JAMB around and made it a success story. JAMB used to be an unprofitable government agency, a cesspool of corruption, but today, JAMB makes profit for the Nigerian Government and remains one of the success stories of Nigeria.  Under Oloyede’s watch, the institution has been sanitized.  

Oloyede is a perfect example of a good Muslim, a good citizen, a good scholar and a platinum-citizen representing Nigeria well. He calls me “the Deputy Governor” but that is a story for another day. I congratulate him on the occasion of his 70^th birthday. President Tinubu describes him as “an exceptional scholar, and an uncommon scholar who has shown rare commitment to financial integrity and accountability in public service”. Governor Dapo Abiodun of Ogun State where Oloyede hails from, says he “remains a leading light among many of his contemporaries and distinctly stands out for his integrity and thorough approach.” He deserves the accolades. 

DIG Taiwo Lakanu (rtd) marked his 65^th birthday over the weekend, Saturday, October 12. This is a good man who supported me in the days of struggle. He is a policeman. I am a journalist. But he is one good example of how a policeman can be your friend and I have no doubts that many who know Lakanu would attest to this fact. He is professional, firm, knowledgeable and dependable. With degrees in History and Law, (BA., LL B, B. L, LLM.) he belongs to the elite class of the Nigerian Police, one of those in that profession who could sustain an argument and an intelligent conversation. He rose, not surprisingly to the rank of a Deputy Inspector General of Police. He joined the police in 1986, and served as Commissioner in Imo and Ekiti. He was CP, Lagos Airport Command, AIG, Zone 7, Abuja. He was also Police Secretary.  The only reward for hardwork and distinction is more work. DIG Lakanu has since been recalled for more work by an appreciative government. He served on the Lagos State #EndSARS panel. He is now back in Abuja as a member of the Police Service Commission. He is the Akogun of Lagos. Congratulations, Akogun of the Universe! Live long. 

And finally, in two days, one of the persons closest to my heart in this world, Pastor Kayode Owolabi turns 60 on October 17. We grew up together. We shared dreams together. Our paths may be different. We are brothers, going back to the roots. Work demands would not permit me to travel to England, where he lives to celebrate his special occasion with him, but he is a man who deserves to be celebrated and he has earned all the successes that he has recorded. Kay, as I used to call him, he is now Pastor Kay, is one intense personality, he tells you he wants to achieve a goal, he will latch on to it and refuse to waiver until he reaches that goal. He is a very organized, and a deliberate man to the last detail. He used to tell me I am not making enough use of my talents. I think he pushes me too hard. But he means well. He has a generous and kind heart. Growing up together, his family was my family and mine was his too. Armed with a Bachelor’s degree in History, he later obtained a Master’s in Law and Diplomacy (MILD). He worked as a banker for years. Then he found God or perhaps God called him to service as a man of His word. He is today the general overseer, Senior Pastor of the Everlasting Arms Ministries, shepherd and author, with headquarters in London. He is constantly travelling all over the world winning souls for Christ. He found his calling. But this is no surprise. His father, E. V. O. Owolabi was also a priest of the Anglican Church. Happy Birthday, Pastor Oluwakayode Babatunde Adeleke Owolabi.  God bless you. Your brother salutes you. 

The Confederation of African Football (CAF) has initiated a probe into the shocking mistreatment of Nigeria’s Super Eagles at a Libyan airport.

CAF strongly condemned the lengthy delay faced by the team and coaches, describing it as unacceptable, and has been engaging with Libyan and Nigerian authorities. 

The African football governing body said it has escalated the matter to its disciplinary board for thorough investigation.

CAF promised to take decisive action against those found guilty of breaching its rules and regulations.

“The Confederation Africaine de Football (CAF) has been in contact with the Libyan and Nigerian authorities after it had been informed that the Nigerian National Football Team (”Super Eagles”) and their technical team were stranded in disturbing conditions for several hours at an airport that they were allegedly instructed to land by the Libyan authorities,” the statement reads.

“The matter has been referred to the CAF Disciplinary Board for investigation and appropriate action will be taken against those who violated the CAF Statutes and Regulations.”

The Super Eagles team was detained at the Al Abaq airport since Sunday evening, sparking outrage, ahead of their 2025 Africa Cup of Nations (AFCON) qualifying match.

In response to widespread criticism, the Nigeria Football Federation (NFF) announced the withdrawal of the Super Eagles from the qualifying match on Monday.

Nigeria’s oil marketers have said the director general of the Department of State Services, Adeola Ajayi has intervened in its complaints about the high price of Premium Motor Spirit(Petrol) by the Nigerian National Petroleum Company Limited and unpaid debts.

The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike said this in an interview with DAILY POST at the weekend.

This comes after petroleum marketers and the DSS had a meeting on Wednesday amid the recent hike in petrol price to N1030 per liter by NNPC.

Giving details of the meeting, Ukadike said that the Chief Executive of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed agreed to issue their members bulk purchase license to get petrol directly from Dangote Refinery.

He also said that the NMDPRA has pledged to release N10 billion to offset debts owed to marketers.

“The Director of the Department of State Security has intervened in our complaints about high petrol prices, debt owed to us, and challenges facing the oil and gas sector.

“The director intervened and said that we should be patient, and he also made some calls.

“The Executive Director of NDPRA said he would issue us a bulk purchase license to get petrol directly from Dangote Refinery.

“NNDPRA promised to release N10 billion to pay outstanding bills to petroleum marketers. We asked members to continue operations”, he told DAILY POST.

Recall that petroleum marketers had vowed to shut down operations over ex-depot price of N1,010 per liter by the NNPC which is higher than the N1030 per litre retail price.

Earlier, the oil marketers had raised alarm that NNPC owed them over N15 billion.

DAILY POST recalls that on September 15, 2024, Dangote Refinery commenced petrol distribution with NNPCL as the sole off-taker.

Samson Dauda, the Nigerian-born bodybuilder representing the United Kingdom, has been crowned the 2024 Mr. Olympia.

Mr. Olympia is an annual bodybuilding competition and title awarded to the professional men’s bodybuilding contest winner in the open division at Olympia Fitness & Performance Weekend. The international bodybuilding competition is sanctioned by the IFBB Professional League.

Dauda made history by winning the 60th Mr. Olympia contest at the Las Vegas Convention Center in Nevada, United States.

He defeated top competitors on Saturday with Hadi Choopan taking the runner-up spot, while 2023 champion Derek Lunsford secured the third position.

Dauda also became the first bodybuilder of Nigerian descent to win the Mr. Olympia competition.

He previously finished third in the 2023 Mr. Olympia. This year, he won the title and was named People’s Champion, receiving a championship belt and trophy.

A former Governor of Ekiti State, Ayodele Fayose, has expressed his support for President Bola Tinubu’s administration, stating that it is making significant efforts to improve the conditions for Nigerians.

Despite acknowledging the current economic hardships the populace faces, Fayose remains optimistic about a turnaround shortly.

In his recent remarks, Fayose recognized the challenges many Nigerians are enduring but emphasized that the Tinubu administration is committed to implementing policies to enhance the economic landscape.

Fayose’s comments come when many citizens grapple with rising living costs and economic uncertainties.

The former governor said on Channels Television’s Sunday Politics, “It’s not been too easy, that is the truth for Nigerians, but I think that this government naturally, is given their best but their best still need to be upped.

“If you say they need time, people will begin to question to say, what time do they need? Yes, I agree that it has not been too easy for Nigerians, but I know that with little time things could get better; that is what I can say.”

He, however, noted that the current situation in the country is caused by long-term damage to the economy that won’t be repaired overnight.

Assessing governance in his home state of Ekiti, where he once held sway for two terms, Fayose heaped praises on the current governor, Biodun Oyebaji.

He said that even though he is a member of the opposition Peoples Democratic Party (PDP) and Oyebanji is in the All Progressives Congress (APC), it would be unfair not to acknowledge the governor’s good works.

“As at today I am a member of the PDP, the governor there is a member of the APC, but the meeting point is that I am a leader in Ekiti.

“Like I told you, it’s either we lie we die or we say the truth we die. Governor Oyebanji has done exceedingly well,” Fayose said.

He asserted that only a miracle will stop Governor Oyebanji from winning the election to complete a second term in 2026.

“I don’t know the miracle that will defeat him except something changes between now and that election.

“Forget the party, let us be realistic – the PDP is in bad crisis in Ekiti too, anybody can come here and deny I don’t care,” he said.

He said the governor has united all the leaders in the state irrespective of their political leanings.

Former Green Eagles goalkeeper, Peter Fregene, has passed away.

Naija News reports that sad news was announced by his longtime friend and ex-international, Segun Odegbami, on Sunday.

Odegbami revealed that Fregene died peacefully after a prolonged illness, with his wife, Tina, and two of his children by his side.

The football legend, who had been on life support for the past week, finally succumbed to his health challenges, marking the end of an era for Nigerian football.

Earlier this year, Odegbami had publicly sought financial assistance for Fregene’s medical care.

In a statement issued in March, he shared that the former goalkeeper was hospitalized in Sapele, Delta State, and required urgent medical attention.

Although some support was provided, including an ambulance covered by Tony Ojesina, more funds were still needed for further treatment at a teaching hospital.

Odegbami also used the opportunity to highlight the absence of a functional welfare system for retired athletes in Nigeria, lamenting the hardships many face in their later years.

In his update on Sunday, Odegbami expressed his grief, writing, “A few minutes ago, Peter ‘Apo’ Fregene, OLY, former goalkeeper for Nigeria’s Green Eagles, who has been on life support for the past one week, passed on to meet his creator. He died quietly in the presence of his two children and his devoted wife, Tina.”

Fregene’s legacy is well remembered, especially his standout performances for Nigeria’s national team in the 1960s and 70s, including his participation in the 1968 Olympics in Mexico.

Known for his incredible reflexes and shot-stopping ability, Fregene earned the nicknames ‘Apo’ and ‘Flying Cat,’ a testament to his agility and skill between the posts.

Tributes have since poured in from across the sports community, honoring his contributions to Nigerian football and his impact on the generations that followed.

The Independent Petroleum Marketers Association of Nigeria is poised for talks with Dangote Petroleum Refinery between Tuesday and Wednesday to finalise agreements on the cost and lifting of petrol from the plant.

It was learnt on Sunday that the Petroleum Retail Outlet Owners Association of Nigeria had been asked by the $20bn Lekki-based refinery to resend its request for petrol lifting.

This came as PETROAN expressed optimism that the cost of petrol might reduce in the coming days once the competition in the downstream oil sector sets in fully, as marketers load the commodity from the refinery.

Meanwhile, IPMAN described the planned agreement with the Dangote refinery as a crucial step in the association’s ongoing efforts to facilitate the lifting of petroleum products, thereby contributing to the stability and efficiency of the country’s fuel supply chain.

Last week, the Federal Government granted permission to petroleum marketers to lift petrol directly from the Dangote refinery without going through the Nigerian National Petroleum Company Limited.

The Minister of Finance and Chairman of the Naira-crude sale implementation committee, Wale Edun, had in a statement, said, “Moving forward, petroleum product marketers are now able to purchase PMS (petrol) directly from local refineries without the intermediary role of NNPC.

“Marketers are encouraged to initiate direct purchases from refineries on mutually negotiated commercial terms, which will promote competition and improve market efficiency.”

Providing an update on Sunday, the National Publicity Secretary of IPMAN, Chinedu Ukadike, said the association hoped to meet with officials of the Dangote refinery for discussion as it is ready to commence a healthy business relationship with the refinery.

Ukadike, who spoke during an interview monitored by our correspondents on Arise TV, said the association had acquired tank farms to enhance its storage facilities, thus addressing a challenge that had previously hindered operations.

He said, “We hope to sit down with Dangote maybe Tuesday or Wednesday and if they give us a template or price, we will move to Dangote. I want to reassure you that we have all it takes to off-take whatever Dangote will give to us. I don’t know why they are dragging their legs to discuss with marketers, maybe it is politics.

“The more we take action in terms of distribution lines, the price will come down, we are not afraid of this competition, we have organised ourselves and are ready to compete because this is the survival of the fittest.

“The issue of not having tank farms is gone because we have addressed the issue and now have farm tanks and anywhere Dangote says they will give us our products, we will distribute them to our marketers.”

On his part, President PETROAN, Billy Gillis-Harry, told The PUNCH his group had been asked to resend their request to lift petrol from the plant.

“We have written to them (Dangote) several times and they are fully aware of what PETROAN has been doing. One of the executive directors there called me to say that they are going to set up a meeting with us, so we are waiting for that to happen. Hopefully, we can do that this week.

“We are willing to take products from all of them, NNPC, traders, importers, Dangote refinery, modular refineries, etc. So, we are in that pursuit. We have not received confirmation of the meeting with Dangote yet, but we have been told to resend our request, which we have done.

“And I think that is a positive response compared to before when they were just keeping quiet. So, any moment from now PETROAN members should start lifting products from the Dangote refinery and it is good news for us and everyone,” Gillis-Harry stated.

On whether the price of petrol would drop in the future, the PETROAN president added, “The price can be knocked down to N700/litre; it depends on the volatility of the market and this does not always mean upward prices, it could also mean prices coming down.

“If we have massive supply and there is a lot of products in Nigeria, obviously everybody will be looking for just minimal profit. Our business is focused on turnover, so people may cut prices down.”

Meanwhile, Ukadike, the IPMAN spokesperson, stated that the Nigerian Midstream and Downstream Petroleum Regulatory Authority had issued a bulk purchase license for independent marketers so that they could off-take from Dangote refinery.

“The NMDPRA has issued a bulk purchase license for independent marketers so that we can offtake from the Dangote refinery. We want this to take effect immediately. We have also been promised an import license so that we can import. These are the factors of deregulation.

“When you implement it, you have put all the stakeholders in the same line so that the competition will be healthy. It is not putting some people before others. How can we buy products at N1,040 and say there is competition? It is designed to edge us out and make us dependent on NNPC and its sources.

“The NMDPRA boss told our national president that we would be issued an import license on Friday. But you know all these processes have bureaucratic procedures. Before we didn’t have this chance but today, the situation has improved,” he noted.

On the debt owed to oil dealers by the NNPC, Ukadike said, “The NNPC boss has agreed to load out all our tickets that are in their system and unlock the money. Sometimes we get these monies from bank loans and when it is locked up, we incur bank charges which also affect the price of fuel.

“They haven’t loaded us out as I speak to you now; they have also not revealed the new price. It is only when they do that, that we will look at the remittance we are going to pay but our president insisted that since this money has been locked up with them, they should give us at the old price so that we can use it to cushion the bank charges and other expenses we have incurred so far.

“By Monday or Tuesday, the new price will be out and I will announce it. We don’t want that impression that independent marketers are selling higher than NNPC.”

Continuing, IPMAN sought the government’s assistance in financing by creating an energy bank to assist marketers following the huge cost of interest rates affecting price increases.

“We are working with security agencies to ensure that products are not stolen out of this country, and products meant for independent marketers go to their stations. Also, we are working to ensure there is nothing like adulteration.”

He said independent marketers were on the verge of collapsing because of the huge amount invested in buying one truck of 45,000 litres of petrol.

“Before the subsidy removal, we bought products at N8.1m, but now we are buying it close to N50m. How many people can survive that?”

Super Eagles media team on Sunday night confirmed that players and officials of Nigeria’s senior men’s national team were held hostage by Libyan authorities upon their arrival at Al Abaq Airport in Al Abaq, PUNCH Sports Extra reports.

In a video posted by the Eagles media team, the players and officials, along with their luggage, were left stranded at the airport, with the Libyan airport officials indifferent to their plight and conversing in Arabic.

The Eagles departed for Libya on Sunday morning, ahead of their 2025 Africa Cup of Nations qualifying matchday 4 clash against the Mediterranean Knights. Initially scheduled to fly into Tripoli and travel by road to Benghazi, the team altered their plans to avoid unnecessary strain. Instead, they chartered a flight with a brief stopover in Kano before continuing to Benghazi. Libya will host the three-time African champions at the 10,000-capacity Martyrs of Benina Stadium in Benina, located just 10 kilometres from Benghazi, but reports emerged that they were diverted to another city.

“About an hour to landing, the Nigerian aircraft approaching its destination, Benghazi, was diverted to another city more than a two-hour drive from the original destination,” the Eagles media team said.

“Libya authorities hold Super Eagles and officials hostage at the Al Abaq airport in Al Abaq.”

Nigeria secured a hard-fought 1-0 victory over Libya at the Godswill Akpabio International Stadium in Uyo on Friday courtesy of a late Fisayo Dele-Bashiru strike. The second leg between the two countries will take place on Tuesday, October 15, with the Eagles hoping to maintain their unbeaten runs.

The Confederation of African Football has appointed Cape Verdean official Delgado Santos Rocha Lenine to referee the match.

He will be assisted by his compatriots Djêry Gomes Lopes and Jorge Santos Fonseca Aritson as assistant referees. Burkina Faso’s Hamidou Diero will serve as the fourth official. Somalian Amir Abdi Hassan has been named match commissioner, while Malian Dramane Dante will act as the referee assessor. The security of the event will be overseen by Algerian official Rachid Medjiba.