End fuel crisis within 48 hours, DSS tells NNPC, marketers – Newstrends
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End fuel crisis within 48 hours, DSS tells NNPC, marketers

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says situation becoming security threat

The Department of State Services on Thursday handed down a 48-hour ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) and other players in the oil sector to end scarcity of petrol in all parts of the country.

The fuel scarcity has persisted in Abuja, Lagos and many states for over a month, adversely affecting economic activities and a threat to security.

The situation has also resulted in hike in the price of the product.

But speaking to journalists at a press conference on Thursday in Abuja, the DSS said the situation was becoming a threat to the nation’s internal security and it needed to intervene.

Spokesperson for the DSS, Peter Afunaya, spoke to journalists on the issue, saying they had a closed door meeting with the NNPCL and others relevant operators in the sector and they had promised to end the scarcity of the product.

He said, “Today, we held a meeting with NNPLC and other stakeholders in the downstream sector which include the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Nigeria Union of Petroleum and Natural Gas Workers, Independent Petroleum Marketers Association of Nigeria, Major Oil Marketers Association of Nigeria, depot operators among others.

“We were clear and told them enough is enough on the lingering fuel scarcity. We told them they should resolve the hurdle right away. Nigerians have the right to have access to petroleum products. We told them we would not continue to tolerate the scarcity.”

Afunaya said the DSS had to intervene because of it is mandated by the constitution to prevent threats to national security as well as to prevent sabotage to the Nigerian economy.

“You might be wondering what our business is on this issue. Don’t forget the Constitution charges us with the mandate of detecting and preventing any threat against our internal security.

“We are also empowered to investigate economic sabotage of concern to national security.”

He added that all stakeholders in the sector agreed on the need to end the scarcity at the meeting with them.

Afunaya said on its own part, the DSS would provide security for the distribution of fuel across the country.

According to him, all the DSS commands in the country are on alert and will begin operations to bring defaulters to book.

He said, “The major takeaway from our deliberation is that there is sufficient fuel that would last us throughout the Yuletide and beyond in the country despite all other issues raised.

“The NNPCL said there are 1.9 billion barrels of petroleum in stock and all the stakeholders agreed to that.

“Among the resolutions reached at the end of the meeting is that the marketers will be operating for 24 hours on a daily basis.

“Also, tanker operators assured that all hands will be on deck to ensure the lifting of the products.

“Similarly, the NNPCL agreed to sell at ex-depot price. It also agreed to decentralise distributions to impact positively on marketers.”

 

Auto

Weststar unveils new Mercedes-Benz E-Class, sets Nigeria’s auto landscape aglow

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Weststar unveils new Mercedes-Benz E-Class, sets Nigeria’s auto landscape aglow

Weststar Associates Limited, the authorized distributor of Mercedes-Benz in Nigeria, has announced the arrival of the all-new Mercedes-Benz E-Class, a development expected to set the nation’s auto landscape aglow again.

The iconic vehicle is said to set new standards in luxury and innovation, bringing the legend and renowned heritage of the Mercedes-Benz brand to car lovers and enthusiasts in Nigeria.

The Mercedes-Benz E-Class is described as the epitome of meticulous craftsmanship and technological prowess, with its harmonious blend of cutting-edge technology, exquisite design and unparalleled performance.

Just like its predecessor, the new E-Class promises to redefine the automotive landscape in Nigeria and provide an unrivaled driving experience.

According to the auto firm, the new E-Class marks the advent of a new generation, introducing more technology and luxury.

Specifically, it says the powertrains are complemented by a fresh exterior design, creating a captivating presence on the road.

It says inside the car are new technology features permeating the cabin, providing a digital atmosphere that is both immersive and intelligent.

The new E-Class takes its digital experience to the next level with the all-new Mercedes-Benz User Experience (MBUX) Superscreen.This powerful central onboard computer processes information with remarkable speed, delivering near-instantaneous responsiveness.

It integrates a range of apps and games, including TikTok & Angry Birds, making it a versatile tool for both entertainment and productivity.

The Superscreen also introduces the Routines function, an intelligent feature that curates your driving experience based on various conditions and functions, automatically adjusting settings such as heating, cooling, ambient lighting, seat massage, and more.

The MBUX Superscreen also debuts video conferencing in the all-new E-Class, this is enabled by a built-in camera and applications like Webex& Zoom.

The standard Burmester® 4D surround sound system, complemented by Active Ambient Lighting, transforms music into a visual and auditory masterpiece. Coordinated colours and tones are illuminated on the instrument panel, elevating the music-listening experience.

The interior is designed to prioritize comfort and quality. The spacious passenger accommodation is graced with premium materials, including leather upholstery and metal trim, resulting in a rich and upscale ambiance.

The new E-Class remains a four-door layout, emphasizing passenger experience and convenience. It boasts of an aerodynamic design that not only enhances its appearance but also reduces wind noise. With the assistance of nearly 500 microphones, engineers have meticulously measured and minimized wind noise, ensuring a serene cabin environment even at high driving speeds.

The exterior design comes with a host of features such as light alloy wheels, chrome highlights, and a Mercedes-Benz pattern radiator grille.

Additionally, the new E-Class boasts flush-fitted doors and metallic paintwork.

The new E-Class comes with upgraded standard equipment that includes KEYLESS-GO, and the AVANTGARDE equipment line for the interior and exterior.

The new E-Class offers two remarkable powertrains to cater to diverse driving preferences. The E 200 model boasts an advanced 4-cylinder petrol engine with mild hybrid and 48-volt on-board electrical system, delivering a combined power output of 204 horsepower with a torque of 320nm.

While the E 300 model features tremendous pulling power even at low engine speeds, with its advanced 4-cylinder petrol engine with mild hybrid and 48-volt on-board electrical system, it delivers an even more powerful output to 258 horsepower and 400nm of torque.

The E-Class is also equipped with a 9G-TRONIC 9-speed automatic transmission, which ensures seamless power delivery, and its suspension system includes Airmatic air suspension with ADS+ continuously adjustable damping and rear-axle steering.

The rear-axle steering comes with up to 4.5 degrees of articulation.

At high speeds, this noticeably improves driving stability. While at low and medium speeds, the driver negotiates bends with more agility and benefits from a smaller turning circle when parking and maneuvering.

The firm says at Mercedes-Benz, safety always comes first. This is greatly emphasized in the new E-Class which is equipped with an array of new and extended driving assistance systems; including Active Lane Keeping Assist, Active Distance Assist DISTRONIC, PRE-SAFE® Impulse Side, Blind Spot Assist, and Active Parking Assist with PARKTRONIC.

This enhances driver safety and reduces workload, making driving more comfortable and secure for Nigerian road users.

According to the statement, the all-new Mercedes-Benz E-Class is now available nationwide at Weststar’s authorized Mercedes-Benz dealerships such as Barbedos Cars Limited, MB Automobile Services Limited, Skymit Motors Limited, Sunny Motors Limited, and Tetralog Nigeria Limited.

 

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Naira recovers against dollar, euro, pound closes below N1,600/$1 at official market

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Naira recovers against dollar, euro, pound closes below N1,600/$1 at official market

The official market observed a modest increase in the value of the Naira against the dollar, concluding at N1,597.24 to $1, marking a 0.34% enhancement from the prior closing figure of N1,602.75 to $1 from the preceding week’s end.

This recent closing figure of N1,597.24 to the dollar signifies the first instance of a rate ending beneath the N1,600/$1 mark since March 5th, 2024.

Additionally, data from NAFEM disclosed a slight rise of 2.20% in forex dealings, reaching $140.45 million as opposed to the $137.43 million noted earlier.

On Monday, within the Investors and Exporters (I&E) window, the naira saw mixed results against major global currencies.

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The I&E FX window recorded a high of N1640/$1 and a low of N1,400.00, indicating a fluctuation of N240/$1.

In the parallel market, the naira appreciated by 0.78% against the US dollar, trading at N1,608 compared to the previous figure of N1,614 per dollar.

Against the pound sterling, the naira modestly gained by 0.74%, ending at N2,030/£1 from the earlier rate of N2,045/£1.

It also made gains against the euro by 0.58%, closing at N1,725/€1 up from last week’s Friday rate of N1,735/€1.

The country’s foreign reserves saw a slight increase of $2.71 million as of March 14, 2024, amounting to $34.416 billion—a 0.008% rise from the previous day’s reserves of $34.413 billion.

Nigeria’s foreign reserves have been on an upward trajectory for 20 days (approximately 3 weeks), starting from February 13, 2024.

Naira recovers against dollar, euro, pound closes below N1,600/$1 at official market

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Vandals destroy rail track in Kaduna community

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Vandals destroy rail track in Kaduna community

Vandals have destroyed a rail track at Chidunu village in the Chikun Local Government Area of Kaduna State.

The hoodlums taking advantage of high rate of insecurity in the area stormed the village and reportedly loaded their three trucks with track materials forcefully removed from the rail.

Public Relations Officer for the Northern District of the Nigeria Railway Corporation, Alhaji Abdullahi, in a statement on Monday, said two of the truck were stopped and impounded by security agents.

However, a Canter truck driver absconded with a portion of the stolen materials.

Some of the vandals were also apprehended by security operatives around the community.

Abdullahi highlighted the logistical challenges with the urgency to act before nightfall and the volatile nature of the area.

“It was difficult to arrange for logistics to evacuate track rails and sleepers before it got dark,” he said, emphasizing the collaborative efforts with local vigilantes and hunters to bolster surveillance along the affected railway stretch.

“We received a report on Sunday that the vandals were arrested during their illicit operation with two long trucks loaded with rail track materials,” Abdullahi said.

He added that the case has been handed over to the Nigeria Security and Civil Defence Corps (NSCDC) for further investigation.

“The case is at present with the NSCDC, O.C. Anti-Vandal for further investigation,” Abdullahi stated.

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