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 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.

• Terrorism Convictions: The Federal Government has successfully secured 1,721 convictions for terrorism and related offenses since the mass trial program began in October 2017. These proceedings, coordinated by the Office of the National Security Adviser (ONSA) in partnership with the Federal Ministry of Justice, the judiciary, and various security and international partners, have concluded 10 phases of trials.....KINDLY READ THE FULL STORY HERE▶

• • • The first three phases (2017–2018) resulted in 366 convictions.

    • Phase Four (2023) added 14 convictions, while Phases Five and Six (2024) produced 351.

    • Phases Seven and Eight (2025) saw 125 convictions.

    • Phases Nine and Ten (2026) were the most impactful, yielding 865 convictions, which represents more than half of the total convictions recorded since the program’s inception.

    • The program has also ensured that individuals against whom the prosecution could not prove its case were appropriately discharged or acquitted.

  • Military Operations (January–June 2026): Between January and June 2026, the Defence Headquarters reported 14,221 operations across various states, including Borno, Yobe, Taraba, Katsina, and others. These efforts resulted in:

    • 1,597 terrorists and insurgents neutralized.

    • 1,516 kidnapped victims rescued.

    • Recovery of 451 firearms, over 16,000 rounds of ammunition, and 161 explosive devices.

  • Police Enforcement: The Nigeria Police Force reported significant successes in the first half of the year, including:

    • The arrest of 50 suspects linked to terrorism, kidnapping, and robbery by the Force Intelligence Department.

    • The dismantling of a 33-member criminal syndicate in Kwara State.

    • The recovery of approximately 60 tonnes of vandalized railway materials estimated at ₦400 million.

  Security agencies continue to urge the public to share timely and credible intelligence to assist in these ongoing national security efforts.