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Petrol Landing Cost Falls to ₦840, But Nigerians Still Pay Nearly ₦1,000 Per Litre.
According to Nivo News, the landing cost of imported Premium Motor Spirit (PMS), commonly known as petrol, has fallen slightly from ₦849.61 to ₦839.97 per litre, based on recent data from the Major Energies Marketers Association of Nigeria (MEMAN).....KINDLY READ THE FULL STORY HERE▶
MEMAN’s latest figures show that petrol landed at ₦849.61 per litre on October 13, ₦847.61 on October 14, ₦841.54 on October 20, and ₦839.97 on October 21. Despite this modest drop, depot owners have not reduced their ex-depot prices, forcing filling stations to maintain pump prices above ₦915 per litre.
The report further indicated that the current landing cost remains about ₦37 cheaper than Dangote Refinery’s ex-depot price of ₦877 per litre. Dangote had recently increased its gantry price from ₦820 to ₦877 per litre without prior notice, contradicting earlier assurances that prices would fall to ₦841 per litre following the launch of its CNG-powered trucks.
At the moment, major marketers such as Mobil are selling petrol at ₦915 per litre, while NNPC retail outlets dispense at ₦928 per litre. Dangote’s partners, including Heyden and MRS, have also pegged prices above ₦920, reflecting the ripple effect of the refinery’s latest price adjustment.
Industry operators have voiced concern over the price disparity, questioning why imported petrol now appears cheaper than locally refined products. Since the Dangote refinery commenced operations in September 2024, its pricing strategy has triggered friction among importers, who accuse the refinery of attempting to dominate the downstream sector.
A source at the refinery disclosed that some marketers have lodged complaints with regulators, urging intervention to prevent Dangote from allegedly “dictating” market prices. Similarly, the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) blamed the refinery for creating “price shocks” that distort the market.
DAPPMAN’s Executive Secretary, Olufemi Adewole, argued that labeling Dangote’s price adjustments as patriotic ignores their destabilizing effect, noting that the cuts often coincide with the arrival of imported fuel cargoes, disrupting importers and even some of Dangote’s own clients.
Adewole emphasized that Nigeria’s downstream sector cannot depend solely on one refinery, as Dangote currently accounts for only about 30–35% of national supply, while independent marketers meet the remainder under regulatory supervision.
Meanwhile, despite the drop in landing costs, petrol prices have continued to climb, with some stations now selling between ₦930 and ₦950 per litre. This surge comes even as crude oil prices and the naira exchange rate have both stabilized. MEMAN reports that the naira has strengthened from about ₦1,700/$ to ₦1,470/$, while Brent crude has dropped to around $61 per barrel — the lowest level since May.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has blamed depot operators and the Dangote refinery for the price increase, alleging that Dangote has failed to load trucks despite receiving payments weeks in advance. Consequently, fuel scarcity fears have deepened, leaving motorists grappling with higher costs amid economic strain.
According to Nivo News, the General Overseer of the Living Faith Church Worldwide, Bishop David Oyedepo, has declared what he described as divine judgment on bandits and their alleged sponsors responsible for insecurity across parts of Nigeria.....KINDLY READ THE FULL STORY HERE▶
Speaking on Sunday at the church’s headquarters in Ota, Ogun State, during a sermon themed “Covenant Day of Vengeance,” Oyedepo stated that those behind killings, kidnappings, and violent attacks would face divine retribution. He further claimed that within the next seven days, consequences would begin to manifest against those he accused of fueling unrest in the country, assuring worshippers that the coming week would be marked by “testimonies of vengeance.”
He was quoted as saying that judgment had been pronounced on individuals responsible for such acts and their supporters, adding that the outcome he referenced would unfold within a week.
In a related remark during a recent midweek service, Oyedepo also acknowledged the presence of fraudsters within and outside religious spaces, warning that his identity and images were being exploited for fraudulent schemes. He urged members of his congregation to remain vigilant and committed to truth to avoid falling victim to scams involving impersonation.
He recounted a case where an individual allegedly posed as him in an attempt to defraud unsuspecting victims, noting that such incidents highlight the growing sophistication of fraudulent activities.
A political disagreement has emerged within the All Progressives Congress (APC) in Nasarawa State following Governor Abdullahi Sule’s reported endorsement of Senator Aliyu Wadada as his preferred successor ahead of the 2027 governorship election.....KINDLY READ THE FULL STORY HERE▶
According to Nivo News, the move has sparked tension between the governor and his predecessor, Umar Tanko Al-Makura, who faulted the decision, describing it as premature and not properly consulted within party structures.
Al-Makura, a prominent figure in the state’s political landscape, expressed displeasure that he only became aware of the endorsement through media reports. He argued that the decision should have involved wider consultation, warning that such early endorsements could undermine internal party processes.
He further noted that the APC had not begun its formal nomination process, insisting that declaring support for a candidate at this stage was inappropriate and ahead of schedule.
The controversy was further heightened by former Inspector-General of Police, Muhammad Adamu, who is also aspiring for the APC governorship ticket. He rejected the endorsement, stating that no individual has the authority to impose a candidate, and reaffirmed his intention to contest in the party primaries.
In response, Governor Sule, through his media aide, defended the endorsement, stating that it was consistent with political traditions in the state. He referenced past succession arrangements, including Al-Makura’s own endorsement of him, arguing that the current process was in line with established practice but being conducted more transparently.
The governor’s camp clarified that Senator Wadada remains a preferred aspirant and not the party’s official candidate.
Senator Wadada, reacting to the development, called for calm among party members, describing the situation as part of normal political competition. He also downplayed tensions with other aspirants, noting that the contest should be seen as a democratic process.
Meanwhile, support for Adamu continues to grow in parts of Nasarawa South, where youths, women, and stakeholders have openly backed his ambition, alongside broader endorsements for President Bola Ahmed Tinubu’s re-election bid.
Adamu, however, maintained that he remains firmly in the race, accusing some political actors of inconsistency in the unfolding succession dynamics.
The Sultan of Sokoto, Muhammadu Sa’ad Abubakar, has described as unnecessary the denial issued by the Christian Association of Nigeria (CAN) regarding an invitation allegedly extended to him for the groundbreaking ceremony of an ecumenical chapel at the Nnamdi Azikiwe International Airport, Abuja.....KINDLY READ THE FULL STORY HERE▶
According to Nivo News, the Sultan’s media team maintained that an official invitation was duly sent to His Eminence requesting his attendance as Royal Father of the Day. The statement explained that the event also listed key dignitaries, including the Senate President, Godswill Akpabio, as Distinguished Guest of Honour, and Senator Oluremi Tinubu as Mother of the Day.
The Sultan’s office emphasised that his participation in the proposed Christian event would promote interfaith harmony, noting his role as Co-Chairman of the Nigerian Inter-Religious Council (NIREC). It added that globally, religious leaders often engage in events outside their faith traditions as part of efforts to encourage unity and peaceful coexistence.
The response follows an earlier clarification from CAN, which denied issuing any invitation to the Sultan and stated that the document circulating in public was not from the association. CAN further explained that the communication in question originated from the Office of the Secretary to the Government of the Federation (SGF) and insisted that it had no involvement in inviting the Sultan to the event.
While acknowledging that the SGF’s office was linked to the invitation process, the Sultan’s media team expressed concern over CAN’s denial, describing it as unnecessary and capable of creating misunderstanding, especially since the Sultan did not request to attend the ceremony.
The statement also urged religious bodies to focus on messages that strengthen unity and promote peaceful coexistence among Nigerians of different faiths and ethnic backgrounds.
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