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Dangote’s Price War Shakes Downstream Market As Petrol Costs Plummet.
According to industry sources, the escalating feud between Aliko Dangote, President of Dangote Refinery, and Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has coincided with a significant drop in fuel prices across Nigeria. The dispute has involved allegations from Dangote, who accused Ahmed of undermining local refining by promoting fuel imports despite the refinery’s production capacity.....KINDLY READ THE FULL STORY HERE▶
Dangote also reiterated claims that Ahmed paid over $5 million (approximately N7 billion) in school fees for his children in Switzerland, a claim previously dismissed as false by both NMDPRA and civil society organizations. Lawyers in Defence of Good Governance, the coalition that initially made the allegation, have since retracted the claim, confirming that Ahmed’s children were on scholarships and completed their studies prior to his appointment.
The accusations, however, have stirred concern among stakeholders in the downstream sector. Dangote recently reduced his refinery’s gantry fuel price from N828 to N699 per liter, prompting other marketers to adjust their prices. Reports from Abuja indicate that Bovas filling station cut its retail price to N865 per liter, Empire Energy and Ranoil to N912 and N910 per liter respectively, while NIPCO and AA Rano offered fuel at N915, N905, and N910 per liter. Private depots such as Menj, Bovas, AA Rano, and Integrated reduced pump prices to N710 per liter, down from around N824.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has assured the public that the nationwide fuel price reduction will be implemented in full from Tuesday, emphasizing the need for collaboration between Dangote Refinery and NMDPRA to ensure steady supply and affordability.
Despite the reduction, transportation costs in major cities remain largely unchanged. The President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, described the feud as a market rivalry with no real benefit to Nigerians, warning against unsustainable pricing strategies that could destabilize the petroleum market. He stressed that artificially low fuel prices may offer short-term relief but pose long-term risks for the economy.
The House of Representatives Committee on Petroleum Resources has called for an end to hostilities between Dangote and NMDPRA. November industrial data indicated that of Nigeria’s daily consumption of 52.9 million liters of petrol, only 19.5 million liters came from Dangote Refinery, highlighting the country’s continued reliance on imports. Dangote has expressed disagreement with the regulator’s data, reflecting ongoing tension in the sector.
Imo State Governor, Hope Uzodinma, has urged voters across the South-East to support President Bola Tinubu’s re-election bid in the 2027 general election.....KINDLY READ THE FULL STORY HERE▶
Uzodinma warned that ongoing development projects in the region could be discontinued if Tinubu fails to secure a second term in office.
He made the appeal on Monday at the All Progressives Congress (APC) presidential campaign rally held in Abakaliki, the Ebonyi State capital.
The governor encouraged residents of the South-East to participate actively in the forthcoming election by obtaining their Permanent Voter Cards (PVCs) and voting for Tinubu.
He stressed that their participation would play a significant role in determining the country’s political direction.
Uzodinma also referenced an address delivered by Ebonyi State Governor, Francis Nwifuru, during the rally, in which he presented a charter of needs outlining the expectations of the South-East and Nigerians generally.
According to the Imo governor, the demands and expectations highlighted by Nwifuru should guide the people’s decisions as they prepare for the 2027 presidential election.
He said, “I saw the governor of Ebonyi State in his address. He read what is called the Charter of Needs for the people, for South-East people, and indeed for Nigeria.
“Our responsibility will start from now to go and look for our PVC. That is the weapon, because if President Tinubu is not re-elected, all these ongoing projects will stop. So we have to sharpen our weapon, and our weapon is our voter card.”
The Super Eagles of Nigeria and Tanzania have encountered disruptions in their preparations for Friday’s 2027 Africa Cup of Nations (AFCON) qualifier in Uyo following reported changes to their flight schedules.....KINDLY READ THE FULL STORY HERE▶
Super Eagles head coach Eric Chelle arrived in Uyo in the early hours of Monday and was later joined by one of his assistants, Daniel Ogunmodede. However, the team was yet to commence full training as the invited players had not arrived at the camp.
Sources in Uyo told Punch that no Super Eagles player had arrived at the Victor Attah International Airport as of Monday evening, despite team officials waiting at the airport throughout the day.
One of the sources said: “We were at the airport from morning until evening on Monday, and none of the players arrived. When the last flight of the day landed, we checked the manifest, but no player was on board.”
Tanzania also experienced a delay in its travel arrangements. The Taifa Stars, who were initially expected to arrive in Uyo on Monday, were rescheduled to land on Tuesday following changes to their flight schedule.
The East African side have endured a difficult start to their Group L campaign, suffering a 2-0 defeat to Guinea-Bissau before settling for a 1-1 draw against Madagascar.
However, Tanzania have already secured automatic qualification for the 2027 AFCON as co-hosts alongside Kenya and Uganda. This leaves only one available qualification spot in Group L.
Guinea-Bissau currently top the group, while Nigeria sit in second position with three points from two matches.
The Super Eagles began their campaign with a 2-1 victory over Madagascar in Uyo but suffered a disappointing 3-0 loss to Guinea-Bissau in Bissau.
Chelle will be hoping to assemble his squad as quickly as possible ahead of the double-header, with Nigeria needing maximum points to improve their chances of securing the group’s remaining qualification ticket.
The coach announced a 24-man squad on Saturday but will be without striker Victor Osimhen, who has been ruled out of the encounter due to injury. The Galatasaray forward also missed Nigeria’s previous two qualifiers against Madagascar and Guinea-Bissau in September.
Other players invited include goalkeepers Stanley Nwabali and Arthur Okonkwo; defenders Olaoluwa Aina and Benjamin Frederick; midfielders Tochukwu Nnadi and Samson Tijani; and forwards Moses Usor and Taiwo Awoniyi.
Turkey-based defender Chibuike Nwaiwu and Czechia-based wing-back Abdullahi Bewene are also part of the squad.
The campaign spokesperson for the African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, Kenneth Okonkwo, has expressed confidence that his principal will appear on the ballot in the 2027 presidential election.....KINDLY READ THE FULL STORY HERE▶
Okonkwo accused the ruling All Progressives Congress (APC) of making efforts to prevent Atiku from contesting the election, insisting that the party’s alleged attempts would ultimately fail.
He drew a comparison with the 2007 presidential election, when former President Olusegun Obasanjo reportedly made efforts to stop Atiku, who was then his vice president, from contesting the presidency.
Naija News reports that the actor-turned-politician maintained that the APC would suffer the same outcome as Obasanjo, who failed to prevent Atiku from participating in the 2007 election.
Okonkwo also predicted that Atiku would emerge as Nigeria’s next president.
In a post shared on X, he said the APC’s alleged attempts to frustrate Atiku’s ambition had strengthened his belief in the ADC candidate’s chances.
He wrote:
“The more the incompetent and corrupt APC tackles ADC, and the more they try to block Atiku Abubakar from contesting for the post of President in 2027, the more I am convinced that Atiku Abubakar is the next President of Nigeria because you do not cast a stone at a tree that is not bearing any fruit.
“APC should learn from history, and understand that Atiku is unstoppable. President Olusegun Obasanjo did everything possible, with all the powers of the security apparatus, to stop Atiku, his Vice President, from contesting the 2007 presidential election, but failed.
“Atiku succeeded through the rule of law by ventilating his agitation through the courts. This time around in 2027, Atiku will win again because God and the people of Nigeria are on his side.
“Let me reiterate, Atiku and ADC will be on the ballot in 2027 and will win the 2027 presidential election for the security and welfare of Nigerians.
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