Business

UBA GMD emerges Chairman Body of Banks’ CEOs

Published

2 months ago

July 9, 2024

Group Managing Director/Chief Executive Officer, United Bank for Africa, (UBA) Plc, Mr. Oliver Alawuba

UBA GMD emerges Chairman Body of Banks’ CEOs

The Chartered Institute of Bankers of Nigeria (CIBN) Body of Banks’ CEOs has appointed the Group Managing Director/Chief Executive Officer, United Bank for Africa, (UBA) Plc, Mr. Oliver Alawuba as its Chairman.

The CIBN announced this appointment on its website on Monday, July 8, 2024.

In his role as Chairman, Alawuba will be at the forefront of fostering collaboration and driving strategic initiatives among the top executives of banks in Nigeria.

Describing the appointment as “prestigious,” UBA said in a statement made available to the NPO Report it “underscores Alawuba’s extensive experience and visionary leadership in the banking sector.”

The bank said it also shows Alawuba’s unwavering commitment towards advancing the financial industry in Nigeria and across Africa.

READ ALSO:

“Like he has achieved as the GMD of Africa’s Global Bank, UBA, his leadership is expected to bring innovative solutions and strengthen the collective efforts of the banking community while addressing the dynamic challenges and opportunities within the financial sector,” the bank stated

The CIBN also announced the appointment of Mrs. Miriam Olusanya, the CEO of GTBank, as the Vice Chairman of the Body of Banks’ CEOs. Her appointment, alongside Alawuba’s, signifies a strong and unified leadership team poised to enhance the banking landscape in Nigeria.

The statement said, “UBA extends its heartfelt congratulations to Alawuba and Olusanya on their appointment and the Bank is confident that their combined expertise and visionary leadership will usher in a new era of progress and innovation for the banking industry in Nigeria, and that under their guidance, the Body of Banks’ CEOs will continue to play a pivotal role in shaping policies and strategies that will drive sustainable economic growth and enhance the overall stability of the financial system in Nigeria.”

UBA GMD emerges Chairman Body of Banks’ CEOs

Business

NNPC hints petrol may rise above N1,000/litre, releases fresh price list

Published

4 hours ago

September 16, 2024

Trends Admin

NNPC hints petrol may rise above N1,000/litre, releases fresh price list

The Nigerian National Petroleum Company Limited (NNPCL) has hinted that the price of premium motor spirit (PMS), also known as petrol, may rise above N1,000 per litre in its retail stations.

In a notice on Monday, NNPC Ltd released estimated prices of petrol (obtained from the Dangote Refinery based on September 2024 pricing) in its retail stations across the country.

According to the notice, the estimated pump prices include Lagos, N950 per litre; Sokoto, N992 per litre; Oyo, N960 per litre; Kano, N999 per litre; Kaduna, N999 per litre; FCT, N992 per litre; Rivers, N980 per litre; and Borno, N1019 per litre.

READ ALSO:

The company said in line with the provisions of the Petroleum Industry Act (PIA), petrol prices are not set by the government, but negotiated directly between parties.

“The NNPC Ltd can confirm that it is paying Dangote Refinery in USD for September 2024 PMS offtake, as Naira transactions will only commence on October 1st, 2024.

“The NNPC Ltd assures that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100% to the general public.” the notice said.

NNPC hints petrol may rise above N1,000/litre, releases fresh price list

Business

Dangote Refinery: Tinubu committee to announce petrol price on October 1

Published

7 hours ago

September 16, 2024

Trends Admin

Dangote Refinery: Tinubu committee to announce petrol price on October 1

Dangote Group has responded to reports claiming that it sold premium motor spirit (PMS) to the Nigerian National Petroleum Company Limited (NNPCL) at N898 per litre, calling the reports “misleading and malicious.”

In a statement issued by Chief Branding and Communication Officer Anthony Chiejina, Dangote Group did not confirm the specific price at which the product was sold, only stating that it was sold in dollars.

Olufemi Soneye, the NNPCL’s chief spokesperson, had previously stated that the company purchased the PMS at N898 per litre, correcting an earlier report that suggested the price was N760 per litre.

READ ALSO:

Dangote’s statement criticized Soneye’s report as intentionally misleading, aimed at undermining the achievement of the Dangote Refinery’s recent milestone in addressing Nigeria’s energy challenges. The statement urged Nigerians to disregard the misleading claims and wait for the official price announcement from the Technical Sub-Committee on Naira-based crude sales to local refineries, which will be made on October 1, 2024.

Business

JUST IN: Northern regions to pay more for petrol after NNPC announces Dangote price

Published

8 hours ago

September 16, 2024

Trends Admin

Dangote Refinery, Aliko Dangote

JUST IN: Northern regions to pay more for petrol after NNPC announces Dangote price

The Nigerian National Petroleum Company Limited (NNPCL) has announced that petrol sourced from the Dangote Refinery will be sold at prices exceeding N1,000 per litre in northern Nigeria.

According to a statement by NNPC spokesperson Olufemi Soneye, the cost of petrol could reach N1,019 per litre in Borno State and N999.22 in cities such as Abuja, Sokoto, and Kano.

In contrast, the price for petrol in southern regions, including Oyo and Rivers states, will be approximately N960 per litre. Lagos and its surrounding areas will see the lowest price, set at N950 per litre.

The announcement, made in a statement titled ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing’, provides an overview of the anticipated retail prices across the country.

“The NNPC Ltd has released estimated prices of Premium Motor Spirit, also known as petrol (obtained from the Dangote Refinery) in its retail stations across the country.

READ ALSO:

“The NNPC Ltd also wishes to state that, in line with the provisions of the Petroleum Industry Act, PMS prices are not set by the government, but negotiated directly between parties at an arm’s length,” he stated.

The company explained that the product it loaded on Sunday was paid for in dollars.

“The NNPC Ltd can confirm that it is paying Dangote Refinery in USD for September 2024 PMS offtake, as naira transactions will only commence on October 1, 2024.

“The NNPC Ltd assures that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100 per cent to the general public,” the statement added.

He stated that the estimated pump prices of PMS were obtained from the Dangote Refinery and will be across NNPC retail stations in the country, based on September 2024 pricing.

Recall that the Dangote Group had disagreed with the NNPC on Sunday that it was selling PMS at N898, but it failed to release its price list.