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Dangote not reason behind high fuel prices in Nigeria-OPEC Scribe
By Kayode Sanni-Arewa
The OPEC Secretary General called for a shift away from the narrative that pits consumers against producers, emphasizing that both groups are stakeholders in the energy ecosystem
Nigeria’s fuel price hike has sparked widespread concerns, with many pointing fingers at oil producers, particularly local operators like Dangote Refinery.
However, OPEC Secretary General, Haitham Al Ghais, has set the record straight, revealing that the real reasons behind high fuel prices lie elsewhere—primarily in taxes imposed by governments, including those of major oil-consuming nations.
In an article published on Tuesday, Al Ghais explained that crude oil and its derivatives form the backbone of global industries, powering everything from transportation to pharmaceuticals.
While many assume that rising oil prices directly benefit oil producers at the expense of consumers, the OPEC chief debunked this myth, noting that oil-producing nations are not the primary beneficiaries of retail fuel sales.
“Revenues are often generated, but they are predominantly earned by major oil-consuming countries through taxation,” Al Ghais highlighted. The Secretary General emphasized that countries within the OECD (Organisation for Economic Co-operation and Development) earn substantially more from the retail sale of petroleum products than OPEC member countries make from the sale of crude oil itself.
Between 2019 and 2023, OECD nations earned approximately $1.915 trillion more annually than OPEC nations from petroleum products. In 2023 alone, taxes accounted for around 44% of the final retail price of petroleum products in OECD countries, and in certain European countries, this figure exceeded 50%.
For Nigerian consumers, this highlights that the high cost of fuel at the pump is not merely a reflection of crude oil prices or refinery margins. Instead, a significant portion of what consumers pay is directed towards government taxes. “It is important to recognize that the price paid by consumers at the pump is determined by multiple factors, including crude oil prices, refining, transportation, and, notably, taxes,” Al Ghais pointed out.
In the UK, for instance, fuel duties are expected to generate £24.7 billion in revenue for the government in 2023-24, amounting to 2.2% of all receipts. Such figures indicate the global trend of governments, both in producing and consuming nations, leveraging petroleum products for revenue generation.
Al Ghais also underscored that while oil-producing nations do earn revenue from oil sales, a significant portion is reinvested into exploration, production, and infrastructure projects to ensure the continuous flow of supply to consumers worldwide. This reinvestment is critical for maintaining future oil supplies and stabilizing global energy markets.
In conclusion, while taxes play a crucial role in supporting government services and infrastructure, they also represent a considerable portion of the price consumers pay at the pump.
The OPEC Secretary General called for a shift away from the narrative that pits consumers against producers, emphasizing that both groups are stakeholders in the energy ecosystem.
The current fuel price crisis in Nigeria is a stark reminder of the complexity behind fuel pricing, where taxes, rather than oil producers, bear much of the responsibility for what Nigerians pay at the pump.
The Nigerian Air Force, NAF, has taken delivery of five new helicopters as the Federal Government steps up efforts to modernise the country’s airpower capabilities and strengthen military operations against security threats.
The platforms comprise three AW-109 Trekker B helicopters manufactured by Leonardo Helicopters of Italy and two H-125 helicopters manufactured by Airbus Helicopters.
In a statement issued on Tuesday by Air Commodore Ehimen Ejodame, Director of Public Relations and Information, Nigerian Air Force Headquarters, the NAF said the three AW-109s, which are part of 10 recently acquired by the Federal Government, were received in Lagos on September 15, 2026, while the remaining seven are expected to be delivered before the end of the year. The two H-125 helicopters had been delivered earlier.
The Chief of the Air Staff, Air Marshal Sunday Kelvin Aneke, said the new helicopters would increase aircraft availability and improve the NAF’s ability to support ongoing military operations.
“The arrival of these five helicopters provides greater flexibility in the employment of airpower in support of ground troops in ongoing operations,” Aneke said.
He said the AW-109 Trekker B helicopters would enhance the NAF’s capabilities in intelligence, surveillance and reconnaissance, close air support, armed escort, combat search and rescue, and other joint operations.
Aneke added that the H-125 helicopters would provide light helicopter support for various operational requirements.
The new platforms are undergoing post-delivery assembly and technical and crew-readiness processes ahead of their induction and operationalisation.
Aneke said the increased rotary-wing capacity would strengthen support for joint forces conducting operations against terrorism, kidnapping and banditry.
He said the NAF would also prioritise maintenance and logistics support to ensure the new aircraft remain available for operations.
The Oba of Lagos, Rilwan Akiolu, has endorsed President Bola Ahmed Tinubu’s bid for a second term in office, declaring that there will be “no vacancy” in the Presidential Villa, Abuja for the next four or five years.
Oba Akiolu gave the support when the Director-General of the All Progressives Congress (APC) Presidential Campaign Council, Senator Abdulaziz Yari, led members of the council on a courtesy visit to his palace in Lagos on Monday.
The monarch urged politicians to approach the 2027 General Elections with responsibility and ensure that the electoral process is peaceful and serves the interests of Nigerians.
Oba Akiolu cautioned members of the campaign council against actions capable of undermining the peace and stability of the country, even as he urged them to uphold honesty and shun the Machiavellian principle that the end justifies the means.
Speaking, the Director-General of the Campaign Council, Yari, said the delegation was in Lagos to seek the monarch’s blessings, prayers and counsel as the council begins its nationwide campaign activities ahead of the 2027 polls.
Yari said the APC believed President Tinubu deserved a second term to consolidate his administration’s efforts in the areas of the economy, security and infrastructure.
The Campaign D-G, while acknowledging the economic difficulties facing Nigerians, appealed for continued support for the president, saying APC leaders from the North would work to secure strong backing for Tinubu’s re-election across the region.
Receiving the delegation, Lagos State Governor, Mr. Babajide Sanwo-Olu, described the visit as significant, noting that the council had made the Oba’s palace one of its early stops following its engagement with the Sokoto Caliphate.
Governor Sanwo-Olu said the visit underscored Lagos’ strategic importance to Nigeria’s political process, describing the state as the country’s commercial and economic nerve centre as well as a major political hub.
The visit was attended by Lagos APC leaders, local government chairmen, members of the National Assembly, state lawmakers and other party stakeholders.
Former Chairman of the Federal Inland Revenue Service (FIRS) Alhaji Mohammed Mani, has been endorsed as the governorship candidate of the Peoples Democratic Party PDP in Niger state
Alhaji Mani replaces Abubakar Sulaiman, who was elected at the PDP primary last May.
Sulaiman voluntarily withdrawn from the position in the interest of the peace unity and progress of the party.
The endorsement of the former FIRS boss for the governorship contest was made by PDP stakeholders from across the state at the state party secretariat.
Addressing the stakeholders, Alhaji Mani promised to deliver the state to the PDP in next year’s election and solicited the support of party faithful for the realisation of the objective.
The new PDP candidate had earlier contested for the governorship ticket of the All Progressives Congress(APC) which Governor Mohammed Umaru Bago got by “ consensus.”
He was among the APC aspirants who lost in the primary election and recently defected to the PDP.
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