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FG Reportedly Directs Dangote Refinery To Set Petrol Prices
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By Kayode Sanni-Arewa
The federal government is considering granting Aliko Dangote’s refinery the authority to set petrol prices
According to reports by Bloomberg, the decision could reshape the government’s control over fuel prices paid by consumers.
The report indicates that Nigeria will permit Dangote to set the price of gasoline for petroleum marketers starting next month, according to officials familiar with the matter.
These officials requested anonymity, as they are not authorized to speak to the media.
Before now, Nigeria—Africa’s largest oil producer—relied entirely on imported petrol, subsidizing the cost at a significant annual expense. However, with Dangote’s refinery in Lagos beginning local petrol production, the burden of imports on the NNPC is expected to ease.
Since August 2023, the Nigerian National Petroleum Company Ltd., the sole importer of petrol, has been reselling the product below market rates to control prices, following a brief removal of the subsidy that worsened inflation and fueled public dissatisfaction.
This week, the NNPC raised the price by 45% to N897 per liter, bringing it closer to market levels after acknowledging substantial debt to international suppliers, which has impacted its ability to maintain a sustainable supply of petrol nationwide.
These changes come in the midst of severe petrol scarcity across major Nigerian cities, as debts incurred by NNPC—partly due to the subsidy—have hindered its capacity to supply fuel.
The NNPC disclosed that the government owes it N7.8 trillion in subsidy debts for the seven months leading up to July. Looking ahead, petrol marketers will be permitted to purchase products directly from the Dangote Refinery, according to sources.
Dangote says it cannot fix petrol prices
The plan to allow the Dangote refinery to set petrol prices come amidst a recent statement by the Dangote Group that it cannot influence, set prices of petrol from its refinery stating that only the federal government’s regulatory authorities can do so.
It also stated that NNPC has not began lifting petrol from the refinery as the issue of pricing has not been concluded
It stated, “We would like to state that NNPC has not commenced lifting of refined Premium Motor Spirit (PMS), commonly known as petrol, from our Dangote Petroleum Refinery.”
“Therefore, the issue of fixing the price of petrol lifted from our refinery does not arise, as we are yet to finalize our contract with NNPC.”
“The PMS market is strictly regulated, which is known to all oil marketers and stakeholders in the sector, hence we cannot determine, fix, or influence the product price, which falls under the purview of relevant government
authorities.”
News
Oyo 2027: Massive defections as PDP candidate, Accord aspirant, 3,000 others join APC
Ademola popularly known as Lucky, said his decision to leave the PDP was influenced by his assessment of the political situation in the state ahead of the 2027 elections.
“I did my due diligence and realised that any ticket outside the APC is a mere tissue paper that cannot take a candidate anywhere in 2027.
We are here in our hundreds to formally join the APC, and we promise to do our best in the interest of the progressive party and our dear country, Nigeria,” Ademola said.
Ojo, who was seeking the Accord ticket in the same constituency, also announced his decision to join the APC, describing his previous political efforts with Accord as unproductive.
We thought about making Accord a credible alternative in the state, but we later realised that the APC was far ahead of other parties.
“We wasted our time, energy and resources on an unproductive exercise. We later realised it wasn’t worth it, so we decided to pitch our tent with the progressive party,” Ojo said.
The defectors were received by the Oyo State Chairman of the APC, Chief Moses Alake-Adeyemo, who assured them that they would have equal opportunities within the party.
We thought about making Accord a credible alternative in the state, but we later realised that the APC was far ahead of other parties.
“We wasted our time, energy and resources on an unproductive exercise. We later realised it wasn’t worth it, so we decided to pitch our tent with the progressive party,” Ojo said.
The defectors were received by the Oyo State Chairman of the APC, Chief Moses Alake-Adeyemo, who assured them that they would have equal opportunities within the party.
The event was attended by the APC deputy governorship candidate, Adesoji Adedeji, the party’s Oyo South Senatorial candidate, Aderemi Oseni and other party leaders.
News
Civil Servant Takes Ex-Wife to Court Over House, Land Ownership Documents
A civil servant, Salihu Abdulkadir, has dragged his former wife, Balkisu Yunusa, before an Upper Area Court in Mararaba, Nasarawa State, over the documentation of his house and land following the dissolution of their marriage.
Abdulkadir, who appeared before the court, said he and his former wife both reside in Mararaba, within the Karu Local Government Area of the state.
He told the court that he owned a house and a parcel of land, adding that his former wife and their children were currently occupying one of the houses.
“My former wife and our children are currently living in one of the houses. I pray the court to help me document the property,” he said.
In her response, Yunusa, according to the News Agency of Nigeria (NAN), told the court that she was not responsible for the documentation of the properties.
Following the submissions, the presiding judge, Mohammed Shomo, adjourned the case to a later date for further proceedings.
The court is expected to continue hearing the matter as the dispute over the property documentation remains unresolved.
News
Gov Kefas cries out over incessant crime, drug abuse, attacks in Taraba
Governor Agbu Kefas of Taraba State has raised alarm over rising cases of criminal activities, illicit drug consumption and unprovoked attacks across the state.
He also expressed concern over reported cases of unprovoked attacks, urging security agencies to remain vigilant and respond promptly to emerging threats.
Kefas, while speaking on security challenges associated with mining activities, described security as a collective responsibility requiring the cooperation of all stakeholders.
He called for greater collaboration among security agencies, government institutions and other relevant stakeholders to effectively tackle criminal activities and prevent further deterioration of the security situation.
The governor urged heads of the various security agencies in the state to remain committed, honest and professional in the discharge of their responsibilities.
He raised the concern on Friday at an emergency security meeting convened to address growing security challenges and other emerging threats confronting the state.
He stressed the need for the agencies to work in synergy and share relevant intelligence to enable them to respond effectively to security threats and maintain peace across the state.
Protecting lives and property remains a major responsibility of the government and security agencies,” Kefas said.
The governor also acknowledged the contributions of the military to peace and security in Taraba, expressing appreciation for their continued support and sacrifices.
Noting that residents depended on security operatives for their safety and wellbeing, he called for sustained cooperation among security agencies, government institutions, traditional authorities and other stakeholders to address emerging security threats.
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