The Dangote Petroleum Refinery has explained that its fuel prices do not fluctuate with daily global crude oil market changes. Instead, pricing is based on the actual cost of production and the specific price of crude inventory, which is often purchased weeks or months in advance under fixed contract mechanisms. The refinery noted that current supplies are being processed from crude bought when prices were higher—averaging $124.80 per barrel in May and $95.25 per barrel in June, compared to the $71.01 current benchmark. Despite these high input costs, the company emphasized that it has already implemented a cumulative price reduction of over ₦200 per litre for Premium Motor Spirit since May 30, 2026, by absorbing some costs to shield consumers. The refinery expects further price moderation as cheaper crude cargoes enter its production cycle.....KINDLY READ THE FULL STORY HERE▶

• Decoupled Pricing: Dangote Refinery clarified that its product prices are not linked to daily international spot market fluctuations, but rather to the actual cost of crude inventory secured via long-term contracts.

• Higher Input Costs: The crude currently being refined was purchased at significantly higher prices than the current $71.01 international benchmark, with average landed costs reaching $124.80 in May and $95.25 in June.

• Absorbing Costs: To support market stability and reduce inflation, the refinery has chosen to absorb a large portion of rising crude costs rather than passing them immediately to the public.

• Phased Reductions: The company has initiated a phased price cut, totaling over ₦200 per litre for PMS since May 30, 2026, and anticipates further reductions as it begins processing lower-cost crude inventories.

• Strategic Impact: By meeting national demand, the refinery aims to eliminate import reliance, save foreign exchange, and provide a buffer against global energy price volatility.

In response to public concern over stagnant fuel prices, the Dangote Petroleum Refinery has stated that its pricing is driven by actual production economics rather than daily international benchmarks. The refinery clarified that it does not buy crude at the widely reported ICE Brent price; instead, its costs include market premiums and logistics, resulting in higher landed costs. The company maintains that it has been gradually reducing prices—including a ₦200 per litre cut for PMS—as it works through older, higher-priced inventory. Moving forward, the refinery projects continued price relief for Nigerians as cheaper crude supplies are integrated into its operations.

The Presidency is reportedly unhappy following protests in Ondo State regarding the distribution of INEC nomination forms to APC National Assembly candidates. Sources indicate that officials are particularly frustrated by viral videos allegedly showing the state’s Commissioner for Women Affairs, Seun Osamaye, and the APC State Women Leader, Iji-Ayeola, leading demonstrations against President Bola Tinubu and the party’s national leadership.....KINDLY READ THE FULL STORY HERE▶

Security agencies have been ordered to investigate those behind the protests, which the Presidency views as a betrayal, especially given that Ondo is an APC-controlled state under Governor Lucky Aiyedatiwa—a leader widely seen as a beneficiary of the President’s support. While state officials have publicly denied the Commissioner’s involvement, insiders note that Ondo was the only state to witness such unrest, even as the Governor reportedly sought to reconcile with the President through party elders.

Tensions have risen between the Presidency and Ondo State officials following protests over the issuance of APC nomination forms. The Presidency is reportedly angered by footage appearing to link top state officials—including Commissioner Seun Osamaye and Women Leader Iji-Ayeola—to protests against President Tinubu and the party’s national body.

Security services are now investigating the organizers of these demonstrations. The Presidency perceives this dissent as a betrayal, particularly as it occurred in a state led by Governor Lucky Aiyedatiwa, who has historically been a strong ally of the President. Although the state government has denied the Commissioner’s participation, sources suggest the incident has caused significant friction, occurring simultaneously with the Governor’s failed attempts to arrange a meeting with the President.

The Presidency has expressed strong disapproval regarding recent protests in Ondo State triggered by the APC’s electoral nomination process. Reports indicate that the administration is particularly concerned by the alleged participation of high-ranking state officials in public demonstrations against President Bola Tinubu and the National Working Committee (NWC).

In response, security agencies have been tasked with identifying the sponsors of the protest. The situation has been framed as a breach of party loyalty, with the Presidency reportedly unsettled by the fact that such open opposition occurred within a state governed by Lucky Aiyedatiwa, a political figure frequently associated with the President’s patronage. While the Ondo State government has sought to distance itself from the protests, the incident has highlighted a notable disconnect, especially as reports emerge that the Governor was simultaneously attempting to secure a reconciliation meeting with the President through party elders.

The internal crisis within the Peoples Democratic Party (PDP) has escalated, with factions led by Minister Nyesom Wike and Tanimu Turaki clashing over rival nomination forms and conflicting lists of candidates for the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶

• Wike-backed Faction’s Stance: Jungudo Mohammed, the faction’s National Publicity Secretary, dismissed the Turaki group’s activities as “419” (fraud) and propaganda, asserting that they would have no impact on the PDP’s electoral prospects. He further stated that the Turaki faction lacks the necessary access codes from the Independent National Electoral Commission (INEC) to upload candidate information. Additionally, he challenged INEC to investigate the authenticity of the forms used by the rival camp and suggested that those responsible for any potential forgery should face criminal prosecution.

• Turaki-led Faction’s Stance: Ini Ememobong, the Publicity Secretary for the Turaki-led Interim National Working Committee, rejected the allegations that their nomination forms were fraudulent. Ememobong stated that the determination of document authenticity lies solely with INEC, rather than the opposing faction. While acknowledging that the ongoing conflict has negatively impacted the party, he maintained that his faction is “carefully navigating” the situation and remains confident that pending court cases will result in their favor.

Context of the Legal Conflict

• The tension follows an April 30, 2026, Supreme Court ruling that nullified the November 2025 PDP national convention, which had originally established the Turaki-led leadership.

• Although the Board of Trustees reappointed Turaki to an interim committee following the ruling, INEC continues to recognize the leadership of Abdulrahman Mohammed and Samuel Anyanwu, granting them the exclusive access codes required for candidate uploads.