Business
NNPC to invest in road reconstruction, advises tanker drivers against strike
The Nigerian National Petroleum Corporation has pleaded with petroleum tanker drivers not to embark on their planned strike in the interest and nation.
The corporation also expressed interest to invest in reconstruction of select federal roads as part measures to address the concern of the tanker drivers.
The National Union of Petroleum and Natural Gas Workers had announced that the tanker drivers under the union would commence the strike on December 11 over bad roads in the country.
But the NNPC said through its spokesman Garbadeen Muhammad in a statement on Sunday that the strike would “endanger energy security, which the country has enjoyed for a long time now.’’
It also stated, “The strike is about the condition of roads in various parts of Nigeria used for the distribution of goods and services including petroleum products.
“While it is not the responsibility of the NNPC to build or rehabilitate roads, any disruption in the distribution of petroleum products will adversely affect the business of the NNPC.”
The corporation however said that in addition to ongoing efforts by other government agencies, it had initiated a process for a quick and effective solution to the road network challenges in the country.
It noted that having recognised paucity of funds as the major reason slowing down the rehabilitation roads, the corporation stated that it had expressed interest to invest in the reconstruction of select federal roads.
This, it said, would be done under the Federal Government’s Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.
It stated, “The thrust of the NNPC’s intervention is to make considerable funds available for the reconstruction of roads through its Future Tax Liability.
“The NNPC as a responsible corporate entity recognises the legitimate concerns of the tanker drivers. We, however, appeal to the leadership of the drivers to reconsider their decision in overall national interest.
“Accordingly, we urge petroleum tanker drivers to immediately call off the strike notice and give the current efforts by government and its agencies a chance to solve the challenges in the interest of all.
“We also wish to strongly advice Nigerians not to engage in panic buying of petroleum products as the NNPC has sufficient stock to last through this festive season and beyond.”
Business
NNPCL says Port Harcourt refinery products only for its outlets
NNPCL says Port Harcourt refinery products only for its outlets
The Chief Corporate Communications Officer of the Nigerian National Petroleum Company Limited (NNPCL), Olufemi Soneye, has revealed that products from the Port Harcourt Refinery Company (PHRC) are currently designated exclusively for NNPCL retail outlets. Speaking on Wednesday, November 27,
Soneye clarified that the refinery has not yet begun bulk sales of its products and that its purchase portal is still inactive.
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He further explained that NNPCL continues to market products sourced from the Dangote Refinery and Petrochemicals, which also include Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) fees. “We have not yet commenced bulk sales, and we have not yet opened the purchase portal as we are still finalizing the necessary processes,” Soneye said.
“At present, the products we are selling are what we bought from the Dangote Refinery, which includes NMDPRA fees. The product from Port Harcourt is currently for our retail stores. Our prices are regularly reviewed and adjusted as required,” he added.
NNPCL says Port Harcourt refinery products only for its outlets
Business
Tron Founder joins Trump-backed crypto project, invests $30m
Tron Founder joins Trump-backed crypto project, invests $30m
Justin Sun, the founder of the Tron Blockchain has joined the World Liberty Financial project as an advisor after investing $30 million into the project.
The World Liberty Financial project is backed by the Donald Trump family and aims to become a leading crypto project in the global crypto space.
Justin Sun joined the project as an advisor after purchasing $30 million worth of WLFI tokens making him the largest shareholder in the project.
The development was announced via the official X page of the World Liberty Financial project welcoming the Crypto founder to the project.
“Exciting Announcement!
We’re honored to welcome @justinsuntron as an advisor to World Liberty Financial (WLFI)! Justin is the founder of @TRONDAO an advisor to @HTX_Global, and a supporter of @BitTorrent
. A graduate of the University of Pennsylvania, he recently won Sotheby’s auction for the iconic banana artwork.
#TRON is among the world’s top 10 cryptocurrencies and one of the largest public blockchains. Justin’s insights and experience will be instrumental as we continue to innovate and grow. Welcome to the team, Justin!” WLFI tweeted
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Justin Sun’s $30 million investment in the project boosted the sales traffic of its native token raising it from $21 million to $53 million.
The increased inflow of capital into the project better positions the project to achieve its goals which include a stablecoin-focused credit card and infrastructure enhancement.
Justin Sun brings onboard his wealth of experience as the founder of one of the Top 10 blockchains in the industry by market cap and his advisory role at HTX and BitTorrent.
Sun’s previous track record of bold investments and innovation is expected to be a huge boost to the WLFI project.
The WLFI gig is another feather to the hat of Justin Sun as he expands his activities in the crypto space. The Tron founder recently purchased a 6.3 million NFT art in a bid to revive a stagnant sector.
The World Liberty Financial project is backed by Donald Trump’s family and it looks to promote the mass adoption of Defi and stablecoins. This project aligns with the Donald Trump pro-crypto mantra and has all the credibility a project of that status needs.
Tron Founder joins Trump-backed crypto project, invests $30m
Auto
Toyota By CFAO showcases latest Land Cruiser Prado, others at P’Harcourt Open Day
Toyota By CFAO showcases latest Land Cruiser Prado, others at P’Harcourt Open Day
Toyota By CFAO, the authorized distributor of Toyota vehicles in Nigeria, has commenced a three-day special display of the latest new Toyota models from the company at an Open Day organised in Port Harcourt, Rivers State, for residents of the city and its surrounding areas.
The Toyota By CFAO Open Day holds from Tuesday, November 26 to Thursday, November 28, 2024, according to a statement by the company.
The event running from 9am to 5pm each day is taking place at the auto company’s showroom located at 184B, Trans-Amadi Industrial Layout, Port Harcourt.
It discloses that the exciting event will feature the highly anticipated 2024 Toyota Land Cruiser Prado, one of Toyota’s flagship models, alongside a range of other exceptional vehicles tailored for the Nigerian market.
This, it notes, is an exclusive opportunity for attendees to explore the latest in automotive excellence, discover new vehicle options, and benefit from Toyota By CFAO’s End of Year Bonanza.
General Manager of CFAO Mobility Port Harcourt, Julius Fasetire, encourages all residents to “come witness history in motion as we proudly unveil the All-New 2024 Toyota Land Cruiser Prado.
“Be among the first to explore this remarkable masterpiece and discover our full range of Toyota vehicles. Don’t miss out on the chance to experience automotive excellence and enjoy a free diagnostic check for your Toyota vehicle!”
The 2024 Toyota Land Cruiser Prado has already generated excitement across the country, following its recent unveilings in Lagos and Abuja.
The product is quickly becoming one of the most sought-after sports utility vehicles in Nigeria, appealing to both corporate and individual buyers.
With over 11.3 million units sold globally in more than 170 countries, the Land Cruiser Prado is renowned for its rugged off-road capabilities and comfort for everyday driving.
The firm says this year’s model comes in two distinctive editions – the Limited Edition (First Edition) and the Adventure Edition – both equipped with a 2.4L turbocharged gasoline engine and an 8-speed automatic transmission, ensuring superior performance both on and off the road.
Toyota By CFAO also says it ensures that genuine parts and a comprehensive 3-year/100,000 kilometre warranty are available for all customers.
In addition to the Land Cruiser Prado, the event will showcase a variety of other popular Toyota models including the Belta, Rumion, RAV4, Camry, and Hiace.
The Open Day, it stresses, promises to be a must-attend event for anyone interested in exploring the world of Toyota vehicles, from luxury to practicality, and experiencing firsthand the future of automotive technology.
The company says more details about the rich offering of Toyota in the Nigeria market can be obtained from https://www.toyotabycfao.ng/.
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