Connect with us


Petrol, Diesel, Kerosene Prices Rose in April – NBS



  • Petrol, Diesel, Kerosene Prices Rose in April – NBS

The prices of petrol, diesel and kerosene increased in many parts of the country last month, the National Bureau of Statistics said in its new reports on the products.

The average price paid by consumers for Premium Motor Spirit (petrol) increased by 0.4 per cent month-on-month to N145.9 per litre in April 2019 from N145.3 in March 2019 but decreased by 3.6 per cent year-on-year.

States with the highest average price of petrol were Bayelsa (N148.64), Kogi (N147.88) and Yobe (N147.82), according to the NBS.

The bureau said states with the lowest average price of petrol were Katsina (N143.50), Zamfara (N144.43) and Abuja (N144.67).

It said the average price paid by consumers for Automotive Gas Oil (diesel) increased by 0.66 per cent month-on-month and 12.88 per cent year-on-year to N230.67 per litre in April from to N229.16 in March.

According to the NBS, states with the highest average price of diesel were Borno (N249.50), Osun (N245.55) and Niger (N241.90), while those with the lowest average price were Ekiti (N204.40), Rivers (N218.00) and Plateau (N219.11).

Many businesses and households in the country rely heavily on petrol- and diesel-powered generators for electricity as power supply from the national grid remains poor.

Unlike petrol, diesel and kerosene have been deregulated and their pump prices are adjusted to reflect the reality in the global crude oil markets.

Last month, the international oil benchmark, Brent crude, surged to a six-month high of $74.25 per barrel after the United States President, Donald Trump, announced the decision to end waivers that allowed some countries to buy crude oil from Iran without facing US sanctions.

The NBS said the average price per litre paid by consumers for kerosene increased by 4.06 per cent month-on-month and 13.57 per cent year-on-year to N316.26 in April from N303.94 in March.

It said states with the highest average price were Plateau (N361.90), Anambra (N353.47), and Enugu (N353.33), while those with the lowest average price were Gombe (N269.04), Lagos (N272.02) and Nasarawa (N287.45).

Similarly, the average price per gallon paid by consumers for kerosene increased by 1.77 per cent month-on-month and 24.20 per cent year-on-year to N1,211.99 in April from N1,190.89 in March.

According to the bureau, states with the highest average price were Gombe (N1,361.54), Enugu (N1,322.73) and Jigawa (N1,321.43), while those with the lowest average price were Bayelsa (N1,031.67) Akwa Ibom (N1,071.36) and Delta (N1,071.36).

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.


Transcorp Hotels Expand into Marketplace, Launches Aura to Connect People, Hoteliers, Others



Transcorp hotel

Transcorp Hotels Plc, on Thursday, announced it has launched a new digital platform, Aura, through which people can book accommodation, restaurants and experiences.

Aura, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.

It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc. Dupe Olusola said.

For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.

The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.

Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”

To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.

Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.


Continue Reading


Siemens Energy Nigeria Appoints Seun Suleiman as Managing Director




Seun Suleiman is the New Managing Director of Siemens Energy Nigeria

Mr. Seun Suleiman is the new managing director of Siemens Energy Nigeria, the company announced on Wednesday.

According to the statement released by the energy company, Suleiman will be responsible for the entire management of operations and decisions on business policies and corporate strategy.

Commenting on his appointment, Suleiman said, “It is an absolute honor to lead the business for Siemens Energy Nigeria and I look forward to delivering on the brand’s promise of excellence.

Suleiman joined Siemens Energy in 2014, bringing over 15 years’ experience and deep expertise in the private sector across Europe and West Africa.

The statement said, “He is an accomplished business strategist and success-driven leader with strong business acumen. Suleiman has also been a core member of the executive management team at Siemens Energy serving in roles as Sales Director West Africa – Service Distributed Generation Oil & Gas and Vice President Service & Digital.

“Prior to this, he also held various functional and managerial positions with ABB Ltd UK, ABBNG Nigeria, Schneider Electric Nigeria and Dresser-Rand Nigeria Ltd.

It added that Suleiman was experienced in establishing operational excellence with specific competence in the power, oil and gas sectors.

Continue Reading


FG Reopens Osubi Airport Warri for Daylight Operations




FG Reopens Osubi Airport Warri for Daylight Operations

The Federal Government on Monday said the Osubi Airport in Warri has been reopened for daylight operations.

The Minister of Aviation, Hadi Siriki, disclosed this in a tweet.

The airport was closed in February 2020 over mismanagement and debt allegation involving aviation service providers and airport management.

However, Oberuakpefe Afe, a lawmaker representing Okpe/Sapeie/vaie federal constituency, recently moved a motion for the Federal Government through the ministry of aviation and relevant authorities to reopen the airport for flight operations.

On Monday, Hadi Siriki said “I have just approved the reopening of Osubi Airport Warri, for daylight operations in VFR conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.

Continue Reading