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Fed Govt Slightly Reverse The Price of PMS

Queue at the filing station  The President,  Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr  Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
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AMCON Sets To IBADAN DISCO FOR MORE GROWTH

IBEDC 

By Favour Ifeoluwa & Akinola Ajibade 


The Assets Management Corporation of Nigeria( AMCON) has concluded plans to sellI Ibadan Electricity Distribution to new investors in order to make the power firm more efficient.

Its Managing Director/Chief Executive Officer, Gbenga Alade,who disclosed this in Lagos recently,said that the corporation has tried to resolve the issues affecting the IBEDC, but the process has yet to be concluded.

The company which is being managed by AMCON since 2022,would be sold to investors with ”deep pockets”,he said.

He added:“In the power sector, we have Ibadan DisCo, which is under AMCON. We’ve tried as much as possible to get that resolved. And we’re in the process. We are yet to conclude the sale, but we are making very good headway in resolving Ibadan DisCo,” he said.

“IBEDC would be profitable if sold, saying it covers different states, including Ogun industrial areas.

”I believe that Ibadan Disco is the largest disco that we have because it goes across so many states like Ogun, including all the industrial areas of Ogun State. We believe that it can be made more efficient if sold to people with deep pockets who can invest, not people who just buy and not invest; they don’t have money to invest.

“With people who have deep pockets to invest in making that company more efficient and more effective, it will go a long way to helping the power sector”.

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