The Dangote Petroleum Refinery has reduced its petrol gantry price by ₦55, bringing the cost down from ₦1,265 to ₦1,210 per litre.....KINDLY READ THE FULL STORY HERE▶

The 4.35 per cent price reduction was announced by consortium marketers affiliated with the refinery.

The latest adjustment followed a decline in the European gasoline benchmark, known as EBOB, which the refinery uses as a reference when determining its petrol prices.

Data from Petroleumprice.ng indicated that depots in Lagos ended trading on Thursday at an average price of about ₦1,300 per litre.

However, by Friday, October 30, several depot owners had begun adjusting their prices in response to Dangote Refinery’s new rate, with some reducing their prices by as much as ₦40 per litre.

Managers of MRS and Nigerian National Petroleum Company Limited (NNPCL) filling stations have also indicated that motorists could soon benefit from lower pump prices.

An NNPCL station manager in Abuja, who spoke to Daily Post on condition of anonymity, said the price reduction was expected to reflect at filling stations in the coming days.

“Our fuel price is expected to drop from this week following Dangote Refinery’s petrol price cut,” the manager said.

Similarly, a manager at an MRS filling station confirmed that pump prices could be adjusted downward in the coming days.

The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, also said members of the association would reduce their prices once they began receiving petrol supplies from the Dangote Refinery at the new rate.

“Our members would cut fuel prices as soon as we receive Dangote Refinery’s petrol from this week,” Maigandi stated.

Plateau State Governor, Caleb Mutfwang, has blamed the economic difficulties inherited by President Bola Tinubu on the administration of former President Muhammadu Buhari, claiming that Nigeria was on the verge of collapse when the current government assumed office in 2023.....KINDLY READ THE FULL STORY HERE▶

Mutfwang made the remarks on Monday while speaking at the inauguration of the All Progressives Congress (APC) Campaign Council in Jos, Plateau State. He used the occasion to defend Tinubu’s economic policies and urge residents to support the President’s re-election bid in 2027.

According to the governor, Nigeria was struggling to meet its external debt obligations when Tinubu took over, while the country’s foreign reserves had fallen to slightly above $3 billion.

He also claimed that some international airlines had suspended operations in Nigeria because they were unable to repatriate their earnings in foreign currency.

“Where did President Tinubu meet Nigeria in 2023? He met Nigeria, tottering on the brink of collapse, Nigeria that could not service its external debts, Nigeria that would not even allow businesses outside the country to take their proceeds back home.

“And that is why some international airlines stopped flying to Nigeria, because they could not get the dollars to take back their money.

“Our external reserve was down to just a little over $3 billion, from the over $40 billion it had accumulated for decades.

“Today, by the grace of God, we have a healthy external reserve of over $50 billion,” he said.

Mutfwang further accused the Buhari administration of printing more than ₦30 trillion to manage the economy, alleging that the funds were wasted.

He maintained that the Central Bank of Nigeria had since stabilised under Tinubu’s leadership and that the financial deficit inherited from the previous government had been addressed.

“When the President took over in 2023, the government that he succeeded had run out of ideas on how to manage the economy, and they resorted to printing money in the Central Bank.

“They printed over N30 trillion, which went down the drain.

“Today, by the grace of God, the Central Bank has stabilised, and that deficit has been done away with,” the governor stated.

Mutfwang Defends Fuel Subsidy Removal

The Plateau governor also defended the removal of the petrol subsidy, describing the previous system as fraudulent.

He alleged that the government had borrowed money to settle subsidy claims supported by fictitious documents, arguing that the country could no longer afford to continue borrowing to finance such payments.

“I say it was a fraud because we were borrowing money to pay people who brought fictitious documents. They never brought any wealth. They brought fictitious documents, claimed monies and subsidies.

“You cannot continue to borrow money to give to thieves. You have to stop it at some point. And when it is stopped, there will be a payback; there will be a recovery time,” he said.

Although he acknowledged that petrol had become expensive, Mutfwang argued that Nigerians now had better access to the product compared with the period when motorists spent days queuing at filling stations.

He maintained that fuel availability had improved despite the high cost.

“Today, by the grace of God, we have solved one side of the equation. Today fuel is available. It may not be cheap, but it is available.

“Those of us who are in my age bracket or a little below will remember the times when we spent days in petrol stations queuing for fuel that we could hardly get. But we have been able to resolve that,” he added.

Mutfwang also alleged that the Buhari administration had sold crude oil in advance, leaving the current government with outstanding obligations arising from the transactions.

He said Nigeria was still settling debts linked to those arrangements, warning that the country’s economic challenges could not disappear overnight.

“Part of the problem of the Buhari regime is that they got to a point that they didn’t know what to do, so they sold our future crude. The crude we are yet to dig from the ground has been sold in advance.

“And today we are paying that debt. We are paying that debt. And so we cannot expect things to simply change overnight,” he said.

Mutfwang Highlights Plateau Government’s Achievements

The governor also outlined some of the measures his administration had introduced to ease the impact of the economic situation on residents of Plateau State.

He listed the introduction of metro buses, the revival of the railway system within Jos metropolis and a 50 per cent reduction in school fees for students in tertiary institutions.

He further disclosed that his administration had increased students’ allowances by approximately 300 per cent.

Mutfwang also commended the Federal Government’s student financing initiative, the Nigerian Education Loan Fund (NELFUND), saying several Plateau indigenes studying in universities had benefited from the programme.

“It is also a great joy in my heart that the President also came up with a new scholarship for students called NELFUND.

“Today, hundreds of millions have been given to Plateau indigenes who are studying in different universities. Some are getting N20,000 monthly, N40,000 monthly. It has never happened before,” he said.

Mutfwang Backs Power Rotation, Seeks Tinubu’s Re-election

Speaking on the 2027 general elections, Mutfwang advocated power rotation between the North and South, insisting that the political arrangement should be respected.

He argued that the South should be allowed to complete another eight years in office after the North had governed the country for eight years under the previous administration.

“We must agree that power should rotate between the North and the South. And if the North spends 8 years, which we have nothing to show for, it is only fair that we allow the South to do another 8 years.

“Because if we don’t respect that sharing arrangement, it will come back to haunt us someday,” he said.

The governor also declared that there was no vacancy in the Plateau State Government House ahead of the 2027 governorship election.

He explained that the state had adopted an arrangement allowing each senatorial zone to produce a governor for two terms. He warned that the Northern Zone could lose its opportunity to produce the next governor if the agreement was not respected.

“And that is why in Plateau State, we have already agreed that it is two terms per senatorial zone. Except the northern zone does not want to produce a governor until 2035, then you can toy with my mandate,” he said.

Mutfwang urged APC candidates and members of the campaign council to present the achievements of the Tinubu administration to voters honestly and with verifiable facts.

He also cautioned them against actions that could create divisions, stressing the need to unite people across the state.

“I’d like to urge all our candidates for the various positions; you must lead from the front. You must be bridge-builders,” he said.

The governor expressed confidence that Tinubu would secure victory in Plateau State in the January 16, 2027, presidential election. He also predicted that residents would renew his own mandate two weeks later.

Mutfwang acknowledged that hunger and insecurity remained significant challenges in Nigeria and Plateau State but insisted that his administration was taking steps to address them.

He explained that tackling insecurity required sustained efforts and could not be achieved overnight.

“On security, I know our opponents will say there is hunger in the land. We don’t deny it. They will say that the insecurity situation has not abated. We don’t deny it.

“But if they say we have not taken steps at all to address those issues, they know they are lying.

“Insecurity is not like tap water, where you simply turn on the tap and it flows down. It requires concerted, deliberate, intentional, sustained efforts before you get results,” he said.

The governor pledged to protect communities across Plateau State and revealed plans to deploy additional security personnel.

He also disclosed that his administration would soon begin taking practical steps to facilitate the return of internally displaced persons (IDPs) to their communities.

“One thing I have committed myself to is that I will ensure the protection of every inch of land in Plateau State.

“Very soon we are going to be taking practical steps to facilitate the return of internally displaced persons back to their communities.

“And so, all we are asking Plateau people to do is trust us and be patient with us, and by the grace of God, you will not regret it,” Mutfwang added.

Political editor Sumner Sambo has claimed that the African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, is quietly deploying his resources and political structures to secure substantial support in Northern Nigeria ahead of the 2027 presidential election.....KINDLY READ THE FULL STORY HERE▶

Sambo made the remarks during an appearance on Arise Television’s Morning Show on Monday, insisting that Atiku understands where the votes are and is working behind the scenes to achieve his presidential ambition.

According to the journalist, Atiku recognises the North as his political stronghold and is leaving nothing to chance as he reaches out to key stakeholders, traditional rulers and youth groups across the region.

“Atiku is strategically deploying resources to secure Northern votes; he knows where the votes are, and he is working silently,” Sambo said.

He further claimed that Atiku’s activities were causing concern within the camp of President Bola Tinubu and the All Progressives Congress (APC), arguing that Tinubu could face a difficult contest in 2027 if the ADC candidate secures strong support across the North.

Sambo also dismissed suggestions that Atiku had lost his political relevance in the region, describing him as one of the most popular politicians in the North and insisting that his political structure remained intact.

Meanwhile, the journalist has predicted that Peter Obi, the Nigeria Democratic Congress (NDC) presidential candidate, would seek a second term if he wins the 2027 presidential election.

Sambo rejected claims by some political actors that Obi would serve only one term before handing over power to another candidate.

“Nothing will stop Peter Obi from seeking a second term if he wins. He will betray a one-term pact,” he said.

He argued that the Nigerian Constitution would guarantee Obi the right to seek re-election once he becomes president, adding that no informal agreement could prevent him from exercising that right.

Sambo further maintained that politicians who assume the presidency often seek a second term, arguing that Obi would be no different.