The latest figures from the official pricing template have indicated that the pump price of locally produced premium motor spirit, PMS, otherwise called petrol, is now being matched with the price of imported products.
But petroleum marketers are hinting that such a match would not be sustainable if exchange rates for both locally produced and imported products are left to market forces.
Vanguard findings from the costing template managed by the Nigerian National Petroleum Company Limited, NNPCL, show the landing cost for imported PMS has been raised by 4 per cent to N956.13 per litre in October 2024, from N919.55 in September 2024.
The increase is mainly driven by the differential in the value of the Naira to the United States of American dollar, where N1, 625/$ was used for September while N1, 645/$ was used for October.
An updated transactional analysis of the pricing template obtained by Vanguard, yesterday, put the total direct cost, including product cost at N887.45 per litre, Freight (Lome-Lagos) N10.37, port charges N7.37, Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA Levy N4.47, storage cost N2.58 to arrive at N913.12 per litre for total direct cost.
The total direct cost was added to the finance cost, including a letter of credit (N16.53) and total interest (N43.01) which raised the landing cost of the product to N956.13 per litre.
In addition to this haulage cost and marketers’ margin along with other unspecified costs have pushed the average pump price to be around N1,000 per litre.
Consequently, while the average pump price in NNPCL petrol stations and major marketers is around N1,000 per litre, most independent marketers in the Lagos area sell between N1,005 and N1,020 per litre, contrary to the officially recommended pump price of N998/litre.
However, many marketers who spoke to Vanguard believe that the existing price differences are not too wide.
But they also hinted that a significant change in the exchange rate would upset the balance significantly.
They also called for more openness and competitiveness in the market across all segments of the operators to create an even playing field.
We expect competition in the domestic market — operators
With the downstream sector’s deregulation, marketers said they look forward to healthy competition in Nigeria’s domestic market.
In an interview with Vanguard, yesterday, the Chairman of the Lagos State chapter of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Mr. Joseph Ehimen, said: “The next step now is to allow others to compete in the open market, bring in the products (local or international), and entrepreneurs can build more modular refineries.
“If the government likes, let them put for sell the nation’s four refineries or make them functional to compete with Dangote Petroleum Refinery.”
Similarly, the Independent Petroleum Marketers Association of Nigeria, IPMAN, said, with the deregulation of the downstream sector, its members can now buy petrol from both domestic and international markets.
The Public Relations Officer, IPMAN, Chief Chinedu Ukadike said marketers would source their products from ‘wherever they feel is cheaper and will make them competitive’.
Marketers are now free to buy from Dangote — Edun
Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said all marketers can now buy products directly from the Dangote Refinery in Lagos.
This ends the arrangement in which the Nigerian National Petroleum Company Limited (NNPCL) was acting as sole off-taker of the Dangote Refinery products.
In a statement yesterday, Edun said, “Following the directive of the Federal Executive Council (FEC) and the implementation of the new Naira-based sales mechanism, the Implementation Committee on the Sales of Crude Oil and Refined Products in Naira, chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun held its second review meeting on Wednesday, October 10, 2024.
“The meeting focused on assessing the transition towards a deregulated market structure for Premium Motor Spirit (PMS) and addressing the change in the purchasing model for petroleum product marketers.
“New Direct Purchase Model: The most significant change under the new regime is that petroleum product marketers can now purchase PMS directly from local refineries. This marks a departure from the previous arrangement where the Nigerian National Petroleum Corporation (NNPCL) served as the sole purchaser and distributor of PMS from the refineries.
“This direct purchasing mechanism allows marketers to negotiate commercial terms directly with the refineries, fostering a more competitive market environment and enabling a smoother supply chain for petroleum products.
“Local Production of PMS: With the commencement of local PMS production, the market is better equipped to support these direct transactions. This transition is expected to enhance efficiency in product availability and stabilize market conditions for the benefit of all Nigerians.
“The Committee recognizes that there are questions and discussions regarding this change in the market structure. We are committed to providing clarity on this development and will continue to engage with stakeholders to ensure a seamless transition process.”
He described the direct purchase of PMS by petroleum product marketers as a new era of growth and development for Nigeria’s petroleum industry.
Reacting to this statement, the Managing Director, 11 Plc (formerly Mobil Oil Nigeria Plc), Mr Adetunji Oyebanji, said: “The price of PMS has finally been deregulated, and subsidy has finally been eliminated.
Henceforth, the price of PMS will be determined by market dynamics. This is inevitable as the government could no longer bear the burden of the subsidy.
“A good measure the government has taken to address the development is selling crude oil to local refineries in Naira at a fixed exchange rate. This will protect consumers from the negative impact of the fluctuations in exchange rates.
‘‘The fact that the crude will be refined in local refineries will also save the cost of transporting crude to offshore refineries and transporting refined products back to Nigeria.
“Without these two factors, prices would have been higher. Another thing will be that the incentive to smuggle petrol from Nigeria to our neighbouring countries will be greatly reduced’’.
However, he added, ‘‘Henceforth, prices can change at any time, depending on market dynamics.”
Vanguard
In that context, it might be helpful for the beginner to have a pair in hand.
👉 However if you’re centered on weightlifting exercises, snatch, clear & jerk, squats,
then a weightlifting shoe is an effective possibility.
Subsequently, it’s going to supply lots of help on the heel and I don’t assume that’s going to hinder efficiency.
We have double mid-foot straps for security in order that a secure match is really going to return through with this mannequin. ” Look, all these sneakers are going to serve a lot of the identical use and supply a lot of the identical advantages. When it comes to footwear, you’ll want to put on your sneakers for powerlifting when you’re in prep for meets.
For maximal grip and floor really feel, yo can’t go incorrect with the AVANCUS Apex Energy shoes. Second, I’m ensuring that the shoe is flat and has a zero-drop development. For powerlifters that need flat footwear, particularly for squats, they’ll want to ensure that their footwear are dialed into their particular squat needs.
Our mission is to enhance the efficiency of athletes and groups around the world by simplifying sports science and making it sensible. Whether Or Not you’re a newbie or not, it’s definitely worth the investment to have them for all times. While not as necessary as heel height, the fabric of the heel can impression your decision. The versatile and lightweight upper is why the mannequin was named the Fastlift 360.
My only knock in opposition to the TYR L-1 Lifter for powerlifting is that it could run a little scorching for longer squat periods because of its heavier upper development. Nevertheless, this shouldn’t be a huge deal for most athletes and you might simply have to be extra strategic along with your sock alternative. The third and last cause why I’ve been having fun with the Reebok Legacy Lifter 3 is their toe field maneuverability. I do wish there was slightly toe spring in them, however total, this must be a non-issue for many lifters. Much like the benefits above, the drawbacks of cross-training footwear might be contextual based on how you intend to make use of them in your training.
Heel lifts might help you keep a more upright posture and forestall butt wink because of higher knee and hip flexion. A raised heel also can significantly protect lifters against back injury if their anatomy limits their mobility. The best weightlifting footwear supply support but hold your ft secure and grounded as you squat, deadlift, and more. When purchasing for a lifting shoe, look for a robust, secure sole to keep you grounded as you push and pull weight. Exterior of being wider than different weightlifting sneakers in the marketplace, the TYR L-2 Lifter also delivers a powerful efficiency within the gym.
If barefoot exercises are your choice, but your health club requires sneakers inside (as many do), the Vivobarefoot Primus Lite III is a minimalist shoe for you. Designed for versatility throughout training styles, weightlifting included, the shoe looks like you’re figuring out barefoot. While it’s not one of the best for very heavy lifts due to the lack of cushioning required to support your foot, you’ll have the ability to incorporate energy training drills into your routine. Naturally, you’re not going to be wearing your weightlifting shoes as often as your other gym shoes, but that doesn’t imply you must skimp out on a pair that’s solely going to last you a couple of weeks. Many well-to-do silhouettes make use of robust textiles like nylon and leather-based to facilitate these needs, but all that power can limit breathability at instances. One of the biggest perks to training in weightlifting sneakers is the elevated heel-to-toe drop. This angled foot placement can help you increase your range of motion all through a given raise, meaning you’re extra suited to attaining a deeper squat or safer catch position.
GORUCK is well-known for their rucking gear, and these footwear had been designed with that in thoughts. Outdoor enthusiasts will love these footwear for his or her sturdiness and performance. Nevertheless, the twin strap system is a good characteristic, particularly at this price level. The general help and construction of those sneakers is type of good, making them a contender for many lifting kinds. This shoe has a snug, sustainably-made ripstop higher that breathes properly and breaks in rapidly. Nonetheless, the flexibility doesn’t give me as a lot safety via the midfoot as others, even with the strap. Therefore, I use it exclusively for squats, squat variations, and a few equipment.
A weightlifting shoe’s use will sometimes be based mostly on the way you prepare and your anatomical wants. Since weightlifting sneakers cost a little greater than traditional coaching footwear, it can be tremendous helpful to extend your investment by taking excellent care of the footwear and keeping them comparatively clean. For instance, if you go from a flat shoe to a heel-elevated shoe it’s regular to see your type additionally change in certain lifts. A weightlifting shoe’s elevated heel will change your foot’s position, which is in a position to then shift your ankle, knee, hip, and torso mechanics. For the primary squat shoe for powerlifting, I’m going to discuss considered one of my favorite weightlifting shoe options, the Reebok Legacy Lifter 3. If you’re a taller lifter who lacks ankle mobility, then you might discover that you simply like squatting with heel-elevated footwear. For lifters with shorter femurs or good mobility, you could get pleasure from flat sneakers.
This way, it is possible for you to to perform all actions without having to alter sneakers. I frequently have issue with tiny toe packing containers, which is why I’ve always returned to my Romaleo 2s. I usually advocate folks buy costlier shoes, but the Do-Wins on a sale are price it. The soles are made of a thin rubber layer with a diamond-carved design to forestall slipping on the platform. I’ve been a Nationwide degree aggressive Weightlifter, and my wife is an International medalist, having competed in Olympic Weightlifting on the elite degree for 20 years. Although it doesn’t have a heel collar pull tab, you’ll find a way to usually accidentally fold the again of the shoe’s heel.
Your shoe should feel comfortable without squeezing your ft too tight, particularly since it’s common for ft to swell during exercise. This is important for movements like deadlifts and squats, the place you want your feet to feel anchored to the floor to push off and raise heavier. He’s typically considered a go-to useful resource in various performance shoe communities. He’s been formally reviewing sneakers and training gear for over 7 years and has hand-tested over four hundred pairs of footwear. Jake is thought on the web and YouTube for mixing his evaluate course of together with his educational, strength sports, and personal coaching background. If you’ve extra questions on any of the weightlifting sneakers featured in this round-up, drop a comment below or reach out to me personally through Instagram (@jake_boly or @that_fit_friend). A weightlifting shoe will primarily replicate what a heel wedge does in your training.
These Nike lifting shoes come at a higher value, but they are definitely definitely price the funding if they’re inside your finances. There is a mild toe spring and an outer sole base of the forefoot area with a molded floor for flexibility and sturdiness. This is important for weightlifters who carry out the cut up jerk, where they usually must bend at the front of their forefoot. The stripey base additionally offers good friction so weightlifters can get an excellent grip on the ground. Lifting footwear can differ by several ounces relying on the producer and model. Whereas weight is largely a personal choice, there are performance advantages depending on your lifting style.
Graphene is likely considered one of the toughest supplies to exist, 200 times stronger than steel. You’re paying for top-quality materials that’s supposed to be extra sturdy. The energy heel and outsole are made from graphene rubber, which offers excellent help and stability. The toe field is made up of a flexible and breathable materials, which is essential as you rapidly transition through workout routines such as snatches or grasp cleans. These squat shoes match true to measurement for me, however the toe box is narrow, so I Would recommend sizing up if you have wide ft. The sticky rubber outsole offers a fantastic grip for climbing, whereas the TPU toe protector and a special laces system shield the toes when climbing rope. Common coaching shoes may be comfortable for running and jumping but are terrible for heavy weightlifting as a result of the soft cushioning absorbs the ability as a substitute of allowing you to generate it upwards.
When testing, we found that the flat, agency midsole provides ample stability, whereas the high-top match and powerful laces supply exceptional ankle assist. If your train routine is diversified, you may contemplate buying one shoe to cowl it all—and Nike’s Metcon 9 Coaching Shoe is a stable alternative. We additionally love the rubber overlay that wraps the complete shoe to add sturdiness. Best for extra experienced weightlifters seeking to enhance their squat efficiency or those with limited ankle mobility who may use an elevated heel. Each weightlifting shoe will match barely differently, so doing a little research to establish different suits can be nice on your comfort and efficiency. I’d suggest looking at a shoe’s slot in my evaluations and critiques on product pages.
They’re essentially the most sustainable shoe on our listing, with the efficiency insoles made from 98% recycled PU foam and the entire shoe made from vegan, artificial materials. The sole is flat which contributes to its stability, but might not serve those with larger arches. Though the shoe is made with high-density EVA foam that provides both comfort and cushioning, it doesn’t compete with the shock-absorbing capability of TPU.
The sole, being constructed of natural rubber, will likely wear down over time but that might be a comparatively cheap and easy repair for any cobbler. After 3-4 workouts my foot had molded properly into the insert leaving impressions for each toe and one for my heel. Under the insert you can see a stable leather-based foot bed that gives medium arch help and a medium heel cup. This strategy does require an acclimation period for some exercises, so that’s important to recollect when lifting barefoot. These have little to do with mobility, but they provide an enormous performance advantage and security advantage over other conventional shoes, which are equal to lifting while standing on a bed. And if you’d like extra like that athletic feeling shoe, to really feel like that operating kind of shoe in your squat and you’ve worn like previously tighter fashions. If you’ve a foul ankle, foot mobility, and power and also you go and attempt to do barefoot squatting, you may damage yourself.
The AVANCUS Apex Energy is a mannequin that I’d call a “premier” powerlifting shoe, as in, that’s why you buy this shoe. It’s constructed specifically for powerlifters and some of the strongest athletes helped them develop it. To discuss the performance of the Nike Roamleos three, I’ll cowl how this shoe performs in a few key coaching categories. I’ll talk about their efficiency for squats, weightlifting, and accent exercises.
This is great for both comfort and long-term sturdiness with this model, and when eliminated, you can get near the ground on this shoe. My favorite example of this in practice is referencing how Kevin Oak routinely squats over seven hundred lbs in NOBULL High-Top Trainers. I additionally really just like the outsole construction on the High-Top Trainer and its lug patterning. It can be both a enjoyable and daunting task when on the lookout for one of the best footwear for powerlifting. Ideally, you’ll want footwear for powerlifting that feed well into your motion mechanics and align with your particular needs and desires. For more severe Weightlifters who are consistently competing, the Nike Romaleos 2 would be the way to go, for true beginners the Nike Savaleos are the better choice at a cheaper price level. On the sled, the cheesy sole and durable building allows for a fantastic base to push off of.
Second, this shoe offers a .86″ heel which is superior for taller people and those with longer legs like me. The barely more aggressive heel top helps feed better into squat mechanics for taller athletes. This can lead to slippage issues, particularly for squatters who raise on wooden platforms and who like to assume a wider stance. I usually put on a size 9; that’s the dimensions of my Romaleos, Adipower and PP2s.
With a solid base and a raised heel, these sneakers help enhance your form and let you lift heavier with better posture. Whether Or Not you’re an Olympic lifter, powerlifter, or simply somebody who wants to enhance their strength, the proper footwear makes all the distinction. Lifting sneakers are built to deal with the strain, providing you with the arrogance to push harder, carry much more weight, and cut back the chance of harm during your workouts. Thanks to its long sponsorship of CrossFit, Reebok has virtually perfected weightlifting footwear (for males and women). The added heel top additionally helps with posture and ankle and hip angle to help you preserve the proper kind throughout all types of lifts. Footwear made particularly for strength coaching is a worthy buy for any regular gym-goer.
A second profit is that with the Nike Romaleo 3, the casual athlete can count on a smooth transition and feel when switching backwards and forwards between barefoot squatting or squatting in cross-training footwear. With Out correct ankle support, your foot could rotate outwards and lead to injury, according to a research from the Journal of Biomechanical Engineering. A shoe designed for weightlifting can encourage the ankle to have the next diploma of plantarflexion (downwards movement) as the heels raise. “The
backside of the foot should be capable of feel the floor”, Nicotera says “The flatter shoe, with a minimal sole,
tends to allow for sensory receptors on the bottom
of the feet to do their job better”. “The shoes should keep your foot steady and
supported whereas lifting, so a proper fit is essential”, Perkins says.
I wish to buy weightlifting sneakers with high heel offset to have the ability to perform deep squats and be taught olympic lifts. I believe that I have good squat mobility however I really feel that having excessive heel elevation simply clicks proper and makes my deep squat more comfortable. A sturdy foundation is essential, significantly should you’re simply starting with weight training. The Air Max Alpha Coach 5 has a flat, extensive sole that retains your foot firmly on the ground.
I like to consider sneakers as tools and you’ll need to decide the footwear that lets you carry out your greatest at high thresholds. In my coaching opinion, lifting footwear can be great tools to have readily available so you can rotate your footwear based in your training needs. For instance, if you like squatting with an elevated heel versus in flat sneakers, then they could be a great supportive tool on your coaching. The TYR L-2 Lifter is my favorite possibility for extensive ft, and observe, I even have E-width feet. In the context of toe field width in weightlifting shoes, there isn’t a model that competes with the TYR L-2 Lifter.
The Adipower 3 toe field is fairly slender however can accommodate lifters with a impartial foot width. Most are protected to order true to dimension, however wide-footed individuals should consider skipping this mannequin in favor of wider footwear (e.g., TYR L-1 and Reebok Legacy Lifter 3). My very first pair of weightlifting shoes have been the unique Adidas Adipowers from 2014 – I nonetheless have them in my collection.
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