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NIPSS DG: Petrol Price Will Drop To N750/litre Before Year End

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Ayo Omotayo, director-general (DG), National Institute for Policy and Strategic Studies (NIPSS), says the price of petrol is predicted to decrease to N750 per litre before the end of 2025.

Speaking during ‘Morning Brief,’ a Channels Television programme on Tuesday, Omotayo said the refining operations at Dangote refinery as well as other local refineries will be instrumental to the petrol price reduction.

“With the removal of the fuel subsidy, we have Dangote refinery coming on. We have other refineries. The refinery in Port Harcourt has worked continuously for 110 days if I’ve counted right. These are the short-term gains,” he said.

“We are buying fuel a little bit more expensive, but as we predict at the National Institute that if we continue with what we are currently doing, fuel by itself will come down. We’re looking at it coming down as low as N750 before the end of the year.

“And of course, foreign exchange, we believe, will still drop to about 1.3 before the end of the year, and it is going to continue like that as more of our refineries come into place. We will become a net exporter in the long run.”

He said there are currently few benefits of petrol subsidy removal but Nigerians will eventually “make up for whatever sacrifices we have made today”.

Speaking further on the removal of the petrol subsidy, he said that in the short term, the government has put in place palliatives so that “those who are suffering” would be able to make adjustments.

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“We need to make adjustments to our spending. In the short term, yes. If you take the removal of subsidy on foreign exchange, you will see that now we do not have super rich people making premium off the dollars that are given to them,” he said.

“Everybody is in the fair marketplace, you go there if you need the dollar, go and look for no more restrictions. So everybody will have to adjust their spending and taste.”

On March 10, TheCable reported that the Nigerian National Petroleum Company (NNPC) Limited had reportedly halted the naira-for-crude deal until 2030, as the government-owned company has forward-sold all its crude oil.

However, NNPC said negotiations are ongoing for a new naira-for-crude deal with Dangote refinery, as the current agreement expired at the end of March.

But on March 19, the Dangote refinery said it temporarily stopped the sale of petroleum products in naira amid delay in agreement on naira-to-crude deal.

Following the decision by the refinery, filling stations in Lagos increased the price of petrol to N930 per litre.

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Federal Government Alerts 30 States and FCT About Heavy Rainfall and Flooding

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The Federal Government has issued a warning regarding anticipated heavy rainfall and flooding across 30 states and the Federal Capital Territory (FCT), Abuja.

The states identified as high-risk for flooding include: Abia, Adamawa, Akwa Ibom, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Gombe, Imo, Jigawa, Kebbi, Kogi, Kwara, Lagos, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Rivers, Sokoto, Taraba, Yobe, Zamfara, along with the Federal Capital Territory.

On Thursday, the Minister of Water Resources and Sanitation, Joseph Utsev, indicated that regions within the South-South geopolitical zone are likely to experience coastal and riverine flooding due to rising sea levels.

Recent flooding incidents in Maiduguri, particularly following a leak at the Alau Dam in 2024, exemplify the severity of the situation.

Among the states at heightened risk are Bayelsa, Cross River, Delta, and Rivers, in addition to Akwa Ibom and Edo, which also fall under the high-flood risk category.

Utsev made these comments during the public unveiling of the 2025 Annual Flood Outlook by the Nigeria Hydrological Services Agency (NIHSA) in Abuja. The 2025 Annual Flood Outlook (AFO) is divided into three sections aimed at addressing the urgent challenges posed by flood disasters while providing critical information for mitigation efforts, particularly in the most vulnerable populations.

The minister emphasized that flooding remains one of Nigeria’s most devastating natural disasters, a situation exacerbated by climate change, which intensifies both the frequency and severity of such events.

He noted that this year, 1,249 communities across 176 Local Government Areas (LGAs) in the 30 states and the FCT are situated within high-risk flood zones, while an additional 2,187 communities in 293 LGAs are at moderate risk of flooding. Key areas of concern include Abia, Benue, Lagos, Bayelsa, Rivers, and Jigawa, among others.

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To enhance early warning and response strategies, this year’s AFO has introduced a community-based flood forecasting methodology. This approach allows for forecasts that are tailored to specific communities, thereby improving actionable communication and preparedness at the local level.

In his remarks, the Permanent Secretary of the Ministry of Water Resources and Sanitation, Richard Pheelangwah, urged stakeholders to prioritize timely responses. “This outlook is not merely numerical; it is fundamentally about safeguarding lives and livelihoods,” he stated.

Umar Mohammed, Director General of NIHSA, highlighted that this year’s flood forecast goes beyond merely identifying LGAs and now pinpoints specific communities at risk. “Our focus has expanded to evaluate the impacts on various sectors, including health, education, agriculture, and infrastructure, providing more comprehensive tools for policymakers and disaster risk managers,” he remarked.

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Quench 3.0 Vows Top Nightlife For Ogun 2024 Sports Festival

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Abeokuta, the capital of Ogun State, is gearing up for the highly anticipated National Sports Festival Ogun 2024, and the city’s leading nightlife event, Quench 3.0, has announced its readiness to deliver a world-class entertainment experience for visitors.

Dubbed the biggest night of live entertainment in Abeokuta, Quench 3.0 aims to offer a premium and unforgettable experience to the influx of guests expected during the festival.

Speaking with journalists,Amb Olanireti Rasheed Segun, the Public Relations Officer for Quench 3.0 and CEO of IYKYK Lounge, widely known as “Highest Paid” assured that the event is fully prepared for what promises to be a landmark occasion.

” With over 30,000 attendees anticipated from across Nigeria’s 36 states, the sports festival is set to bring a vibrant energy to Abeokuta, and Quench 3.0 is poised to complement it with top-tier nightlife.”

Amb Olanireti praised Ogun State Governor, Prince Dapo Abiodun, for his transformative efforts in upgrading sporting facilities ahead of the festival.

He highlighted the revamp of the MKO Abiola Stadium in Kuto, now rebranded as the MKO Abiola Sports Complex, as a symbolic achievement.

“This transformation offers young people an exclusive sporting experience and opens doors to global opportunities,” he said, pointing to Ogun-born stars like Tobi Amusan and Anthony Joshua as inspiring examples of what such initiatives can achieve.

Quench 3.0 expressed strong optimism that Ogun State is on track to host the most successful National Sports Festival in Nigeria’s history.

The event’s organisers believe the state’s focus on nurturing young talent and pitting them against seasoned athletes aligns seamlessly with President Tinubu’s directive to drive talent development and innovation in Nigerian sports.

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“All work and no play makes Jack a dull boy,” Amb Olanireti quipped, emphasising Quench 3.0’s mission to provide a relaxing yet exhilarating night out.

The event promises a serene, secure, and affordable environment designed to help visitors unwind from the stresses of daily life while enjoying a world-class entertainment experience.

Quench 3.0 commendedd the state’s security forces for their proactive approach in ensuring safety and tackling crime, a vital factor in making the festival and its accompanying events a success.

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Nigeria to launch e-visa, digital cards

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Minister of Aviation and Aerospace Development, Mr Festus Keyamo, has said the Federal Government will launch an e-visa system and digital landing/exit cards to enhance national security.

He disclosed this on Wednesday in Abuja when he received a delegation led by the Minister of Interior, Mr Olubunmi Tunji-Ojo.

According to Keyamo, the e-visa system will enable applicants to submit visa requests online and upload required documents electronically.

He added that the manual landing and exit cards would be digitalised, requiring visitors to pre-fill their information before travelling to Nigeria.

“What we are doing here today reflects this government’s commitment to cooperation between ministries with overlapping mandates.

“Today is another example of inter-ministerial collaboration. This specifically concerns the introduction of the e-visa system,” he said.

He said further details would be given by Tunji-Ojo, and that relevant agencies such as Immigration, NCAA, and FAAN would fully support the initiative.

Keyamo emphasised that there was no objection to the programme, which primarily falls under the Interior Ministry.

Meanwhile, the Minister of Interior stated the automation system will commence on May 1.

He noted that the e-visa application will be free and is designed to simplify entry into Nigeria while boosting national security.

Tunji-Ojo explained the Nigeria Civil Aviation Authority (NCAA) will manage landing and exit cards, which travellers must complete online before boarding.

“Coordinating and issuing regulations to airlines is naturally the NCAA’s responsibility,” Tunji-Ojo said.

He revealed a central visa approval centre already exists at Immigration headquarters, with trained officers and integrated global criminal record checks.

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“Better background checks will be conducted for travellers entering Nigeria. We aim to eliminate bottlenecks and ensure a transparent visa process.

“Our goal is to open Nigeria’s borders without compromising security. Both Interior and Aviation ministries have critical roles in this,” he said. (NAN)

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