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Petrol Pricing: Dangote trying to suppress competition, Petrol sellers allege
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By Kayode Sanni-Arewa
Petroleum Products Retail outlets Owners Association of Nigeria (PETROAN) has accused Dangote Refinery of trying to stifle competitors in the downstream sector.
The marketers’ accusation follows Dangote Refinery’s claim that marketers are complaining of its petrol pricing because they want to import substandard products at cheaper rates.
The refinery had In a statement on Sunday disclosed that it sells petrol at N990 per litre in trucks and N960 per litre into ships. It says its pricing is in comparison with the international selling rate at the global market.
The disclosure by Dangote Refinery was after both PETROAN and the Independent Petroleum Marketers Association of Nigeria (IPMAN) had said that they can buy petrol at cheaper rates than Dangote rates.
The refinery In its reply said that only substandard products can be imported at cheaper rates than its rates.
But PETROAN in the latest in a statement signed by its spokesperson, Joseph Obele, on Monday, said the accusation of importing substandard product by Dangote is “his usual gimmick for maintaining monopoly.”
The marketers maintained that consumers get the best value for pricing when competition is at its peak, hence competition should be encouraged.
They added any market devoid of competition will be exploitative and strictly for profiteering.
PETROAN said it has concluded plans with her foreign refinery counterparts and financial partners to import the best quality of PMS and then sell far lesser than the present selling rate of PMS in Nigeria.
The statement reads: “Petroleum Products Retail outlets Owners Association of Nigeria PETROAN has successfully incorporated a Strategic Business unit called PETROL.
“PETROAN’s drive was solution-centric and patriotism following the pricing instability and turbulences in the downstream sector.
“The reformative and Transformational agendas of President is seen as inimical to advocates and beneficiaries of monopolistic market. The President Interventions was meant to liberalise the downstream sector by building an all inclusive market.
“Intensive or aggressive Competition in any market brings the best value for money exchange for a commodity. Consumers gets the best value for pricing when Competition is at it’s peak, hence Competition should be encouraged.
Contrarily to Competition, such a market will be exploitative and strictly for profiteering. The publication by Dangote refinery that PETROAN will import sub standard Petroleum product is not coming as a surprise to Stakeholders, because such is his usual gimmick for maintaining monopoly.
“The publication was coming after PETROAN and IPMAN announced plans to sell far lesser than the current Selling rate of PMS in Nigeria.
“It is important to set the records straight that PETROAN has never compared the price of Dangote PMS with any other on the fact that Dangote’s PMS price wasn’t known until this morning at the press release by Dangote Refinery.
“PETROAN has concluded plans with her foreign Refinery counterparts and financial partners to import the best quality of PMS and then sell far lesser than the present selling rate of PMS in Nigeria.
“We planned to enter the market before December 2024, pending the approval of our import permit license by the regulatory agency and access to foreign exchange from CBN at the the official rate.
“Before now Dangote Refinery has refused to make public her selling rate of PMS until IPMAN and PETROAN announced readiness to sell lesser.
“The rate of #990 as announced by Dangote refinery was inconsiderate base on the fact Dangote Refinery enjoyed massive concession for accessing foreign exchange during the construction of the refinery.
“The core determinant for setting price is consideration for cost of production then add a fair margin. But this wasn’t the case for the determinant of PMS price by Dangote refinery as they said” the parameter was comparison with the international selling rate at the global market.
“A nation that gave you a yet to be disclosed concession for foreign exchange which was highly criticised by financial expert’s, such a country Pricing template shouldn’t have been templated by the selling rate at the international market but rather it should have been cost of production plus fair margin.
“Goods from the China markets are not selling as high like goods from the America market because cost of production differs.
“The allegations that PETROAN will import inferior Products and saying also that an international company is trying to establish a PMS blending plant in Lagos are all strategies for Dangote Refinery to push others out of the market in view achieving monopoly for exploitation
Few months ago the CEO of Dangote Refinery said NNPC LTD was importing inferior Petroleum Products, that his own was far better than what NNPC LTD was selling to Marketers. In another press conference he said the Refinery at Malta was just a blending plant and not a Refinery. All the allegations are with the Objectives of closing the doors for other Operators so to enjoy monopoly.
“Evidences available showed that diesel (AGO) as a deregulated product was selling less than #800 in Nigeria market few weeks before the commencement of AGO production by Dangote Refinery, at the entrance of AGO market by Dangote refinery we witnessed a rapid surge above #1,000 as against the the perception of a “SALVAGING REFINERY”.
“PETROAN uses this medium to commend Mr President for his commitment towards the revamping of the nation owned refineries. It is on record that the ongoing rehabilitation project never suffers funding Under President Tinubu as it was earlier.
“We will still maintain our position by counselling that the Port Harcourt and Warri Refinery plant after rehabilitation should immediately be privatised and handled over to a reputable firm that has the Technical capability, managerial skills and financial strength in partnership with PETROAN and other critical Stakeholders.
“This will enable the Operators of the government owned refineries to withstand aggressive ballistic Competition that will be poise by the known beneficiaries of monopolistic market. Antecedents of the beneficiaries of Monopolistic market has showed numerous suffocating Business owners crashing out of other sectors for a sole operator in the past.
“Stakeholders concerns is a prayer that the process of the Privatisation should be transparent using the Indorama Petrochemicals as a model as against Maintenance Repairs And Operations (MRO) contract Business scholars have described the red ocean strategy as a situation when companies try to outperform their rivals to grab a greater share of existing demand.
“While Some other business scholars argued that it is detrimental to adopt the red ocean strategy with the motive for making your competitors quit in view of acquiring their facilities, because such market will be a Monopolistically orchestrated market in view of exploiting the people.
A balance market should be an all inclusive market players where the market leader is enjoying his lead, while the market challenger is servicing a certain degree of the consumers and the market followers are still surviving in the market at affordable price.
“Therefore, it is penitent that Federal Government should discourage and dismantle any attempt of monopoly in the downstream sector in view of crashing the current selling rate of PMS. The only catalyst to trigger PMS price reduction is by ushering in Competition and PETROAN will support the Federal government in achieving intensive competition in the sector.
“Most importantly, the Solution to the ongoing downstream sector Pricing turbulence and instability is for Mr President to midwife or delegate an all inclusive Stakeholders Meeting including DAPPMAN, MEMAN, PETROAN, IPMAN NUPENG and PENGASSAN.
“This meeting tends to get first hand valuable inputs from the industry
Players in view of having a final solution for PMS pricing in the downstream sector.”
(Channels TV: Text, Excluding Headline)
News
Stone Age lost Atlantis about 8,500 years discovered beneath the waters of Denmark
By Ojomah Austin.
The mystery of Atlantis has created a city-sized gap in our grasp of history, with archaeologists searching the oceans for any trace of this submerged civilisation.
A prominent theory suggests that Atlantis never actually existed. Nevertheless, as we’re now aware, the notion of a coastal settlement being consumed by the ocean is entirely plausible.
Subsequently, archaeologists in Europe believed they’d discovered the missing piece of the puzzle. You wouldn’t necessarily expect Denmark to be the maritime location of an exotic lost metropolis from ancient times, yet this is precisely where archaeologists unearthed the most compelling proof of Atlantis, according to Global News.
“Europe’s Atlantis”, stretching back to the Stone Age, was discovered beneath the waters of Denmark’s Bay of Aarhus. Researchers unearthed numerous artefacts that paint a picture of a civilised community that inhabited the area nearly 8,500 years ago.
These included stone implements, arrowheads, animal remains, and even fragments of timber that appeared to be rudimentary tools.
Researchers plunged 26 feet beneath the surface of Denmark’s second-largest city, employing specialised suction apparatus, to retrieve the remains of Europe’s Atlantis.
The location dates back to the conclusion of the last Ice Age, when climbing sea levels submerged entire coastal communities, forcing Stone Age hunter-gatherer societies inland.
Because the artefacts have remained underwater for millennia, they are significantly better preserved than they would be inland. “What we actually tried to find out here is how life was at a coastal settlement 8,500 years ago,” archaeologist Peter Moe said.
He added: “Here, we actually have an old coastline. We have a settlement that was positioned directly at the coastline. What we actually try to find out here is how was life at a coastal settlement.
“It’s like a time capsule. When sea level rose, everything was preserved in an oxygen-free environment … time just stops. We find completely well-preserved wood. We find hazelnut. … Everything is well preserved.
“We can say very precisely when these trees died at the coastlines,” Moesgaard Museum dendrochronologist Jonas Ogdal Jensen, according to Fortune.
The specialist explained how this remarkable find has shed considerable light on how sea levels have shifted throughout history.

Stone Age lost Atlantis found is Denmark
He said: “It’s hard to answer exactly what it meant to people,” Moe Astrup said. “But it clearly had a huge impact in the long run because it completely changed the landscape.”
Researchers are keen to press ahead with investigations at a further site off the German coastline, with ambitions to examine locations in the notoriously unforgiving North Sea also in the pipeline.
Yet this is not the first occasion archaeologists have drawn comparisons between a site and Atlantis. Doggerland was a landmass that once extended between Britain, Denmark, and the Netherlands, linking the corners of Europe.
In 1931, evidence of this lost territory began to emerge after a Dutch fishing vessel retrieved artefacts from the seabed. A portrait of a hunter-gatherer community thousands of years old began to take shape. Yet, some 8,200 years ago, rising sea levels and a catastrophic tsunami ultimately swallowed this civilisation whole.
A colossal underwater landslide set off a chain of unstoppable natural disasters that plunged the landmass beneath the waves. Today, all that remains of this lost world lies buried under the North Sea.
News
Amnesty International condemns attack on Abuja protesters as Sowore lands in hospital
By Kayode Sanni-Arewa
Condemns his alleged “deliberate targeting”
Amnesty International has condemned what it described as a “reckless attack on peaceful protesters” during a Democracy Day demonstration in Abuja, where activist and African Action Congress 2027 presidential candidate, Omoyele Sowore, reportedly collapsed after security operatives allegedly fired teargas.
In a statement released on Friday, the rights organisation said Sowore was “subsequently taken to a hospital” following the incident at Unity Fountain, Abuja, and called for an immediate investigation into what it described as his “deliberate targeting.”
The Nigerian authorities are clearly using violence to crack down on human rights, including the rights to freedom of expression and peaceful assembly,” the statement said.
Amnesty International also warned that targeting activists for participating in peaceful demonstrations amounted to unlawful conduct and a breach of fundamental rights.
“Such targeting of activists solely for exercising freedom of assembly is unlawful and shows utter disregard for the rule of law,” it said.
The organisation further accused the authorities of failing to demonstrate commitment to constitutional and international human rights obligations, alleging a continued crackdown on civic freedoms under President Bola Tinubu’s administration.
Sowore’s collapse reportedly occurred during a protest in Abuja where security operatives allegedly dispersed demonstrators with teargas in front of the Force Headquarters.
Videos shared online showed him on the ground amid confusion as protesters attempted to assist him.
The protest was part of a nationwide mobilisation by a coalition of civic groups, labour activists, youth organisations and social movements, which had declared June 12 a day of mass action over insecurity, economic hardship and worsening living conditions. (Text, excluding headline:
(The PUNCH)
News
Falana, Falz lead protest over kidnappings, hardship
By Kayode Sanni-Arewa
Activist lawyer, Mr Femi Falana (SAN), his son – afrobeats singer, Mr Folarin Falana, popularly known as Falz, alongside civil society organisations, youth groups, among others, on Friday staged a protest in Lagos.
They demanded urgent action to address worsening insecurity and economic hardship in the country.
The protest came as Nigeria marked Democracy Day, set aside in remembrance of the June 12, 1993 presidential election, widely acclaimed to have been won by late Chief MKO Abiola.
The election, though regarded as the freest and fairest in the nation’s history, was annuled by the then military government.
Chanting, the protesters converged on the Ikeja Under Bridge, carrying placards with inscriptions such as “No Democracy Without Security,” End Bad Governance,” and “End Insecurity and Kidnapping.”
Others include, “End Hunger,” “Free All Captives Now,”End all anti-people policies now,”
The demonstration was aimed at drawing attention to rising insecurity, economic hardship and policies affecting ordinary Nigerians.
Speaking during the protest, Falana called for the immediate release of abducted pupils and teachers in Oyo State, expressing concern over their welfare in captivity.
According to him, the protest is not only about demanding the rescue of the abducted victims but also about highlighting broader issues of injustice, insecurity and poverty confronting Nigerians.
“We are protesting the kidnapping of our children in Oyo State. We are also protesting injustice in our country, a situation whereby innocent school children in Oyo and Borno states have been in the custody of criminals for several weeks now.
“We are also protesting injustice meted out to young people who are regularly arrested on the highways by the police.
“We are protesting hunger and poverty in the land, and we are calling on the government to address these challenges,” he said.
Falana, a human rights advocate, lamented the condition of the abducted children and teachers, and regretted the killing of one of the latter.
He called on the authorities to intensify efforts to secure the release of the remaining victims.
Also addressing the protesters, Falz bemoaned what he described as worsening insecurity and economic hardship across the country.
The entertainer and activist said Nigeria was grappling with increasing cases of kidnappings and killings, urging the government to do more in its responsibility of protecting the citizens.
“Everybody can see the worsening insecurity. It is becoming unbearable,” he said.
Falz cited recent abductions in different parts of the country, including the kidnapping of students and the abduction of a relative of a former minister in Oyo State.
“Every Nigerian life matters and must be protected at all costs,” he stated.
He said that the repeated abduction of students had heightened public frustration and anxiety.
Also speaking, human rights activist, Mr Olumide Ogunsanwo, popularly known as Seaking, called for stronger government action to tackle insecurity across the country.
He said Nigerians were demanding better governance and an end to the growing wave of killings, kidnappings and other violent crimes.
“We say no to insecurity. Insecurity has to end,” he said.
Ogunsanwo urged the Federal Government to intensify efforts against bandits, insisting that decisive action, rather than rhetoric, was needed to end the insecurity.
Security operatives maintained presence around the protest venue and monitored activities throughout the demonstration.
(NAN)
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