Latest News
Refined Shock: Imported Petrol Now Cheaper Than Dangote’s—Consumers Rejoice
Petroleum product importers have slashed pump prices below those offered by the Dangote Petroleum Refinery, intensifying competition across Nigeria’s downstream oil sector.....KINDLY READ THE FULL STORY HERE▶
This pricing shake-up comes amid renewed calls by Dangote Group President, Alhaji Aliko Dangote, urging the Federal Government to halt fuel importation in order to safeguard local refineries.
Investigations by The Punch revealed that while Dangote’s affiliated marketers—such as MRS and Heyden—sold petrol at between ₦865 and ₦875 per litre in Lagos and Ogun states, several independent stations have further dropped prices to gain market share.
In Ogun, for instance, SGR filling station offered petrol at ₦847 per litre as of Tuesday. Industry insiders say many importers have lowered their ex-depot rates in response to growing competition.
As of the same day, Dangote’s refinery sold at ₦820 per litre, while some depots sold for as low as ₦815. Data from Petroleumprice.ng showed marketers like Aiteo and Menj operating at these lower price points—more competitive than the Nigerian National Petroleum Company (NNPC), whose ex-depot price remained at ₦825.
Confirming the trend, Chinedu Ukadike, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), stated, “Depot owners are adjusting prices—some as low as ₦815, others ₦817—while Dangote maintains ₦820. NNPC hasn’t made any changes. This is the advantage of a liberalised market. That’s why we oppose banning fuel imports.”
Dangote, however, remains a staunch critic of fuel importation, describing it as economically damaging and harmful to local refining capacity. He accused importers of “dumping”—flooding Nigeria with cheap, often substandard fuel that would fail regulatory standards in Western countries.
“To make matters worse, Nigeria is being inundated with low-cost, often toxic petroleum products… severely hurting local producers,” Dangote warned.
He further alleged that discounted Russian petroleum products were being rerouted into African markets, distorting fair competition.
“In Nigeria, prices have dropped to just 60 cents—lower than in Saudi Arabia, which refines its own crude. We urge African governments to emulate the U.S., Canada, and EU in taking steps to protect domestic refiners,” he said at a recent regulatory forum in Abuja.
Nonetheless, marketers have rejected his call for a ban. They argue that competition helps regulate prices and discourages monopolistic practices.
Ukadike maintained that liberalisation promotes both equity and sustainability: “Nobody should be barred from importing fuel. The solution lies in effective regulation and boosting local refining. That’s how to achieve fair pricing and energy security.”
Latest News
‘Kwankwaso Is More Experienced Than Peter Obi’ – Buhari’s Ex-Aide Declares.
Ahmad made the assertion in a post on his X handle, maintaining that Kwankwaso’s decision to accept the position of running mate should be seen as an act of political modesty rather than an indication that he is less qualified than Obi.....KINDLY READ THE FULL STORY HERE▶
According to the former presidential aide, the relationship between the two politicians should be viewed as one of equals rather than that of a superior and a subordinate.
“To be entirely candid, the political dynamic between Rabiu Kwankwaso and Peter Obi ought to be characterised as one of collegiality between peers, rather than a hierarchy of principal and subordinate,” he wrote.
He added, “The choice to assume a deputy role beneath Obi ought to be interpreted as a testament to political modesty.”
Making a case for Kwankwaso’s political experience, Ahmad recalled that the former Kano State governor served as Deputy Speaker of the House of Representatives before Obi became a prominent figure in national politics.
He also noted that Kwankwaso governed Kano State, which he described as Nigeria’s most populous and politically influential state, for two terms and served as a federal minister.
“If we are assessing political experience, Sen. Kwankwaso probably has a longer and more impressive political background than Peter Obi,” Ahmad stated.
In contrast, the former presidential aide argued that Obi’s major public office experience was limited to his tenure as governor of Anambra State.
“Unlike other candidates, Peter Obi was just a former governor of Anambra State,” he wrote.
Latest News
‘I Have Stopped Impregnating Women’ – 2Baba Makes Shocking Revelation.
Nigerian music star Innocent Idibia, popularly known as 2Baba, has declared that he no longer impregnates women.....KINDLY READ THE FULL STORY HERE▶
The singer made the statement on Saturday during a live performance at Rehab Lounge in Calgary, Canada.
While performing his hit song True Love, 2Baba paused to interact with the audience and playfully asked the women present to identify where his true love was.
He jokingly wondered whether she was standing at the back of the venue or somewhere in front of him before making a remark about his experiences with women.
The award-winning musician told the audience that he had stopped getting women pregnant, adding that he had been making the same confession wherever he performed recently.
He said, “For the purpose of this show, I will pretend like I’ve never seen anything before. Where’s my true love? Is she back there? Is she right here? Is she somewhere here? Where’s my true love? You people shouldn’t put out me for trouble.
“As I said, some ladies they fear to shout. See, everywhere I go these days, I make this confession. As I say, some ladies they fear to shout. I say, I don’t fear to shout. Because I don’t stop to dey give woman belle. Ask anyone, they’ll tell you, I don’t do such thing things again.”
The singer’s comment comes amid public interest in his personal life and relationships.
2Baba was previously married to Nollywood actress Annie Macaulay-Idibia. The couple announced their separation in January 2025 after having two children together.
Latest News
NPFL Cracks Down! Abia Warriors, Katsina United, Warri Wolves Hit With Sanctions.
Abia Warriors were fined ₦3.2 million for failing to provide adequate security as agreed during the pre-match technical meeting ahead of their encounter with Niger Tornadoes.....KINDLY READ THE FULL STORY HERE▶
Abia Warriors were fined ₦3.2 million for failing to provide adequate security as agreed during the pre-match technical meeting ahead of their encounter with Niger Tornadoes.
The Umuahia-based club was also found guilty of an attempt by one of its officials to disrupt the live broadcast of the match by harassing a crew member of the league’s broadcast partner.
As part of the disciplinary measures, Abia Warriors’ multimedia officer, Chidera Favour Igwe, has been suspended from all NPFL match activities for five matches.
Katsina United, meanwhile, were fined ₦2 million for failing to provide adequate and effective security during their home fixture against Plateau United.
The club was also sanctioned for allowing supporters to encroach onto the field of play during the encounter.
Warri Wolves Receive Heaviest Punishment
Warri Wolves have been handed the most severe sanctions following the unruly behaviour of their supporters during Sunday’s Matchday 10 clash against Kano Pillars in Ozoro.
The Seasiders were fined ₦4.2 million and docked three points and three goals from their accumulated tally. The club was also ordered to play its next three home matches behind closed doors.
According to the NPFL, Warri Wolves failed to provide adequate security at the stadium, resulting in an assault on match officials after the final whistle.
The league further disclosed that the second assistant referee sustained a nose injury and was left bleeding during the incident.
The NPFL stated that all three clubs have 48 hours from the date of notification to appeal their respective sanctions in accordance with the league’s disciplinary procedures.
-
latest1 year ago“Social Media Erupts As Jim Iyke Declares Rita Dominic Nollywood’s Most Beautiful”
-
latest3 years agoEdo Political Showdown: Oshiomhole Appears At Presidential Villa As Tinubu Hands APC Gubernatorial Flag To Okpebholo (Photos & Video)
-
entertainment3 years agoLove Knows No Age American Woman Defends Marriage To Young Nigerian Man “I’m Not 70”
-
latest3 years agoOlumide Akpata Strikes Again: Drops Killer Track, Sends Edo State Into Frenzy!(Video)
-
Politics3 years agoNigerians React As Pastor Adeboye Foresees Passing Away On A Sunday After Enjoying A Satisfying Meal Of Pounded Yam
-
latest3 years agoFG Identifies 31 States At Risk Of Heavy Flooding In 2024: See Full List
-
Politics3 years agoBREAKING: Inspector-General Of Police Summons Top Police Commanders For Crucial-Security Challenges
-
latest3 years ago5 NYSC Corpers Perish In Fatal Road Accident Returning From Camp
