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Coronavirus Won’t Cause Scarcity of Petrol, Diesel, Kerosene—PPPRA

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By Adedapo Adesanya

The Petroleum Products Pricing Regulatory Agency (PPPRA) has assured consumers that the entry of coronavirus in Nigeria will not result into scarcity of petroleum products as there are enough in stock to cover for the next 40 days.

The deadly disease, now present in over 50 countries, has affected sales of commodities at the markets, with Nigeria recording its first case on Thursday, February 27 from an Italian national who came into the country from Turkey.

In a statement signed by the Executive Secretary of the agency, Mr Abdulkadir Saidu, over the weekend, the PPPRA said despite the fears of slowing global demand for crude oil, there won’t be scarcity of Premium Motor Spirit (PMS), which in commonly referred to as petrol, in the country. The agency said it has a sufficiency of 41.34 days.

The PPPRA further said for Automotive Gas Oil, (AGO or diesel), it has for 45.04 days; Household kerosene for domestic use (HHK or kerosene) has 9.36 days; Aviation Turbine Kerosene (ATK) has 53.73 days; while Low Pour Fuel Oil (LPFO) has 33.75 days.

Mr Saidu explained that the PPPRA January 2020 report on Oil and Gas sector operations showed that the national supply of PMS was 1.8 billion litres, while AGO and ATK were 423.27 million litres and 96.70 million litres respectively.

He noted that a similar report highlighting activities of the agency for week 4, (21 – 27 February, 2020) revealed that the average days sufficiency stood at 42.28 days for PMS, AGO was 44.73 days while HHK was 20.36 days and ATK 36.22 days.

“During the week in view, the total volume of PMS and AGO discharged were 551.01 million litres and 84.84 million litres respectively,” he added.

PPPRA also stated that crude oil prices in January averaged $63.51, $64.06 and $58.29 per barrel for Brent, Bonny and WTI respectively, as against the December average prices of $67.02, $65.94 and $60.67 per barrel.

“Available data for week 4 of February 2020 indicated declines in the prices of Brent, Bonny and WTI, which averaged$57.17, $57.14 and $52.86 per barrel respectively”.

The PPPRA Chief said the agency also ensured that the NNPC and other marketers maintained strict compliance to approved guidelines for importation of petroleum products.

He, therefore, reassured the public that it would continue to work with other relevant stakeholders towards maintaining efficient petroleum products supply in the country adding that efforts were taken to ensure to combat anything that could affect availability.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Petralon to Add 2,500bpd to Nigeria’s Crude Production

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By Adedapo Adesanya

Petralon Energy is on track to boost Nigerian crude production by a further 2,500 barrels per day, following drilling activities at the Dawes Island field.

According to a statement from the Africa Energy Chamber (AEC) on Monday, the company recently completed a new well at the field, aligning with plans to maximize output at the field. Operated by Petralon Energy subsidiary Petralon 54 Limited, the field is situated in Petroleum Prospecting License (PPL) 259.

The milestone comes as Petralon seeks to unlock greater value from Nigeria’s offshore oil resources.

The firm invested $25 million in the drilling program and development initiatives at the field between 2014 and 2022, officially securing a 100% stake in PPL 259 following the implementation of Nigeria’s Petroleum Industry Act in 2021.

The production milestone underscores the instrumental role indigenous operators play in Nigeria, with future drilling activities set to further consolidate Petralon’s position in the country’s upstream sector.

The AEC also disclosed that Petralon is a Platinum Partner of the African Energy Week (AEW): Invest in African Energies conference, taking place September 29 to October 3, 2025, in Cape Town.

Beyond PPL 259 and the Dawes Island field, Petralon is pursuing non-operated interests in Oil Mining License (OML) 127 and OML 130, seeking to unlock new resources and enhance revenue generation.

The company owns a stake in Prime Oil & Gas, which holds an 8 per cent interest in OML 127 and a 16 per cent stake in OML 130.

OML 127 features the Agbami field while OML 130 contains the Akpo, Egina and Preowei fields. Net production from the producing Akpo, Egina and Preowei fields averages 51,000 barrels per day. Both asses are situated in the deep offshore, showcasing gross 2P reserves of 270 million barrels and 638 million barrels, respectively.

Meanwhile, Petralon has also been strengthening its ownership stakes across the African upstream industry. The company holds an indirect equity interest in Prime Oil and Gas, which recently finalized its merger with Africa Oil Corp. Petralon has also emerged with a 4.24 per cent stake in the expanded entity. The transaction aligns with Petralon’s broader intentions to strengthen its presence in Africa.

The newly-expanded entity now operates a strong portfolio that includes deepwater assets in Nigeria alongside ventures in Namibia, South Africa and Equatorial Guinea. With the merger, the expanded entity benefits from a strengthened balance sheet as well as new opportunities for regional growth.

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Former Oyo Governor Rashidi Ladoja to Become New Olubadan

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By Adedapo Adesanya

The former governor of Oyo State, Mr Rashidi Adewolu Ladoja, is in line to become the new Olubadan of Ibadanland following the death of the 43rd Olubadan, Oba Owolabi Olakulehin.

It was reported earlier that the former occupier of the throne, Oba Olakulehin, 90, joined his ancestors in the early hours of Monday, July 7, 2025, close to a year after becoming the traditional ruler of the ancient Nigerian city.

The late monarch, who was appointed by Governor Seyi Makinde in July 2024, replaced Oba Moshood Lekan Balogun, also known as Alli Okunmade II, who died in March 2024 following a brief illness.

According to tradition, the Olubadan throne alternates between two ruling lines: Egbe Agba (civil) and Balogun (military).

With the late Olakulehin ascending from the Balogun line, the next monarch is expected from the Egbe Agba line, where Mr Ladoja is currently the most senior High Chief.

Mr Ladoja, a former senator and governor of Oyo State between 2003 and 2007, has steadily climbed the traditional ladder over the years.

In September 2024, Mr Ladoja celebrated his 80th birthday, and in August 2024, he was crowned the Otun Olubadan of Ibadanland.

This put an end to the controversy over his acceptance of the chieftaincy title.

With his exit from the role to become Olubadan, Mr Eddy Oyewole, will become the new Otun Olubadan of Ibadanland, the highest ranked chief in the line.

Meanwhile, Mr Akin Alabi, a lawmaker and entrepreneur, will move from Jagun Olubadan (the entry point in the civil line) to Ajia Olubadan of Ibadanland.

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Oyo Governor for 52nd AAAN AGM/Congress Open in Ibadan

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Seyi Makinde of Oyo

The Association of Advertising Agencies of Nigeria (AAAN) will convene its flagship 52nd Annual General Meeting and Congress from July 17–19 at JAGZ Hotel, Ibadan. This year’s theme, “Charting Bold Paths Forward,” reflects the industry’s shared commitment to embracing innovation, resilience, and transformative leadership in a rapidly changing environment.

The three-day gathering will feature a compelling blend of cultural heritage, strategic dialogue, and professional celebration. The first day will see delegates pay a courtesy visit to Otun Olubadan of Ibadanland, Senator Rasheed Ladoja, a tradition that echoes AAAN’s longstanding respect for host communities and cultural roots.

The official conference will begin on July 18 and will be declared open by Governor  Seyi Makinde of Oyo State. He is expected to be joined by dignitaries, including the  Minister of Information and National Orientation, Alhaji Mohammed Idris Malagi, and the Minister of Art, Culture, and the Creative Economy, Hannatu Musa Musawa, alongside the Director-General of the Advertising Regulatory Council of Nigeria (ARCON), Dr. Lekan Fadolapo, setting the tone for high-level discourse and coordination.

A centrepiece of the day will be the keynote address from Dr. Cherry Eromosele, Executive Vice President & Group Chief Marketing and Communications Officer at Interswitch Group, followed by a panel discussion chaired by Dr. Tayo Oyedeji, Group CEO of Insight Publicis Group Nigeria.

Confirmed panel speakers include Josiah Akinola of Nigerian Breweries PLC; Bolanle Osotule of Airtel Nigeria; George Onukwu of TBWA\Concept; Oluwatobi Williams of 7even Interactive; and Adedamola Richard‑Salvador of Digisplash Limited

AAAN President Mr. Lanre Adisa noted that this year’s theme is indicative of the AAAN’s readiness to be courageous in embracing innovation and vision.

“This is not the time to tiptoe around the future. Boldness is not a buzzword but the only language the future understands. In a landscape defined by constant change, boldness is not a gamble but a strategic imperative. Those who will lead tomorrow are those willing to question today,” said Adisa.

The final day of the event shifts focus to governance and celebration and will have two segments: Business Session and Gala/Award Night. The highlights of the former include leadership updates and the induction of new members. The latter will see deserving advertising professionals recognized and rewarded while dressed in aso oke regalia.

Founded in 1973, AAAN is Nigeria’s oldest and most influential collective of advertising agencies. Its annual AGM is a pivotal industry tradition, one that consolidates strategic progress, regulatory alignment, cross-sector collaboration, and storytelling that positions the Nigerian advertising industry on a bold, credible future trajectory.

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