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Fuel Scarcity Looms as NARTO Directs Tanker Drivers to Halt Operations

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Petrol Importation

NARTO Tells Fuel Tanker Drivers to Ground Operations

The Nigerian Association of Road Transport Owners (NARTO) has directed all tanker drivers under the association to halt operations following the government’s directive banning operations of petroleum trucks more than 45,000 litres on Nigerian roads.

NARTO, the umbrella association of all commercial vehicles owners in Nigeria engaged in the haulage of petroleum products, general cargoes, and movement of goods and passengers within the country and the West-African sub-region, said members of the association will park their truck on Tuesday and Wednesday as warning against the ban.

Speaking on the situation in Abuja, NARTO’s National President, Yusuf Othman, said: “NARTO received with grave shock the recent government decision to place immediate ban on all petroleum trucks above 45,000 litres capacity from plying Nigeria roads.”

Othman explained that government’s sudden ban was insensitive and unappreciative of tankers efforts at strengthening the supply chain of petroleum products across the nation.

He said, “In view of the above, we are therefore constrained to allow the decision of all our members to park their trucks as from tomorrow, 22nd to 23rd September, 2020, to prevail as warning.

“And furthermore, issue 10-day ultimatum with effect from 24th September, 2020, for a full blown withdrawal of service.”

He added, “If such scenarios occur, we earnestly plead with those who will lose employment, income and the general public that will be negatively affected by this avoidable situation.”

NARTO argued that it was discouraging and distressing to abruptly enforced new policy without giving tanker drivers time to phase out affected trucks.

Othman said, “The leadership of NARTO is not in any way against the decision of the Federal Government to ban the use of trucks with more than 45,000 litres capacity in the conveyance of petroleum products considering the dilapidated state of Nigerian roads.

“But NARTO is particularly concerned about the sudden and prompt nature of the ban. We consider the approach to be highly insensitive to the huge investments the owners of these trucks have made and debts they incurred in executing the mandate given by previous administration.”

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

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MTN Nigeria, Gameloft Partner to Increase Access to Variety of Exciting Games

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MTN Nigeria announced it has partnered with Gameloft, a leader in the development and publishing of games, to increase access to a variety of fun and exciting games online.

The telecommunications giant in collaboration with its new partner, Gameloft announced the launch of MTN Gameworld, a new gaming platform for its subscribers.

According to MTN, the new platform will allow the Nigerian growing gaming community access to a lot of unique games online through an extensive premium catalogue from Gameloft and other renowned publishers.

Commenting on the partnership, Srinivas Rao, the Chief Digital Officer, MTN Nigeria, said, “We are constantly seeking to deliver innovative products that support the aspirations of our customers, whilst delivering superior user experience. This partnership allows us to provide our customers with access to a variety of exhilarating games from Gameloft and other leading publishers at an affordable rate.”

MTN Gameworld will allow subscribed customers access to a variety of games, which they can play at subsidised data rates through the MTN Gameworld app. Android, iOS and Windows phone users can subscribe via SMS, app, web, USSD menu (*447#), 131 USSD menu and any other MTN customer channel.

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President Buhari Commissions 5,000bpd Modular Refinery Built in Imo State

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President Muhammadu Buhari on Tuesday commissioned the 5,000 barrels per day modular refinery built by Waltersmith Group in Imo State.

President Buhari, who commissioned the new modular refinery virtually, said the refinery will enable Nigeria to export petroleum products to neighbouring countries and other markets.

The 5,000 barrels per day Waltersmith Modular Refinery is the first phase of 50,000 barrels per day combined capacity plant planned for Imo State, according to the Group.

Buhari commended Waltersmith Group, an indigenous oil firm, and the Nigerian Content Development and Monitoring Board for the collaboration that led to the actualisation of the modular refinery.

President Buhari, therefore, directed the Ministry of Petroleum Resources, the Nigerian National Petroleum Corporation, the Department of Petroleum Resources and all other relevant government agencies to provide Waltersmith all the necessary support in terms of access to crude oil and condensate feedstock.

Buhari said, “We rolled out our refining roadmap in 2018, to address challenges in the downstream sector. After many years of government giving out modular refining licences without any coming on-stream, we are today seeing a commissioning within two years.

“The plan to commence the expansion of this refinery to 50,000bpd capacity, to refine crude oil and condensate, is a demonstration of the economic reform Nigeria is undergoing.

“The realisation of the refinery roadmap will ultimately lead us to becoming a net exporter of petroleum products, not only to our neighbouring countries but to other wide markets,” he said.

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Elon Musk Net Worth Jumps by $100 Billion this Year to Topple Bill Gates, Mark Zuckerberg, Others 

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Elon Musk, the Chief Executive Officer and founder of Tesla, is now the world’s second-richest person following another surge in the price of Tesla share.

Musk total net worth jumped by $7.6 billion to $110 billion between November 16 and 17 to dethrone Facebook founder, Mark Zuckerberg, from the third position.

Since then, Tesla stock has been on a bullish run and in the last 24 hours added $7.24 billion to Elon Musk’s total net worth, according to Bloomberg Billionaire Index. Bringing the billionaire’s total net worth to $128 billion.

Elon Musk’s net worth rose from just $28 billion in January 2020 to $128 billion on November 24, 2020, representing an increase of $100 billion, the highest by any billionaire.

Musk has finally toppled Bill Gates as the second richest person and for the first time, Bill Gates is the third richest man in the world. This is the first time in almost 40 years that Gates will be in the third position.

Billionaires listed on Bloomberg Index have collectively gained $1.3 trillion this year.

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