Index to Nigerian Newspapers

Nigerian petroleum product marketers and independent retail outlet owners have warned that banning fuel importation could cause local pump prices to surge toward one thousand five hundred naira per litre and lead to potential exploitation by eliminating market competition. Representatives of these associations argue that maintaining fuel imports is essential to stabilize domestic prices and counter monopolies, noting that local refiners might otherwise manipulate costs. In response, officials from the Dangote Petroleum Refinery strongly dismissed these projections, asserting that the claims are merely an excuse for marketers to continue importing substandard and low-quality fuel, while maintaining that local production is fully capable of satisfying domestic demand and supporting export needs.

Transcorp Power Public Limited Company recorded dramatic financial growth for the full 2024 financial year, driven by strong operational execution and strategic investments. The company's audited results submitted to the Nigerian Exchange show that annual revenue more than doubled to three hundred and five point nine billion naira, while gross profit reached one hundred and forty-two point two billion naira. Profit after tax surged by one hundred and sixty-five percent to eighty billion naira, accompanied by marked improvements in efficiency as reflected by higher returns on assets and equity. Additionally, the company significantly strengthened its financial stability by completely paying off its United States dollar loan, which slashed its gearing ratio from over sixty-four percent down to less than thirty percent. On the back of these strong results, the Board of Directors proposed a final dividend that brings the total shareholder payout to five naira per ordinary share for the year. Executives attributes these results to operational discipline within a challenging macroeconomic environment, reaffirming the company's vital role as a primary contributor to Nigeria's electricity supply grid.