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The presidential candidate of the African Democratic Congress ADC, former Vice President Atiku Abubakar has facilitated with Kwara ADC guber candidate Hon Zakari Mohammed as he clocks 56.

In a congratulatory message he e:signed Atiku said: “On behalf of my family, I extend my warmest congratulations to my younger brother and compatriot, Rt. Hon. Zakari Mohammed, the ADC Governorship Candidate for Kwara State, as he marks his 56th birthday.

“Today, we celebrate a distinguished patriot whose life has been defined by service, courage, competence, and an unwavering commitment to the progress of Kwara State and Nigeria.

“Your record as a two-term member of the House of Representatives, where you also served with distinction as the Spokesman of the 7th Assembly, reflects your deep understanding of democratic governance and legislative excellence.

“Your impactful service as Commissioner for Sports and Youth Development, Commissioner for Energy, Special Assistant on Sports, and Sole Administrator of Kwara United Football Club further demonstrates your capacity to deliver results wherever duty calls.

“Beyond politics, you have built an admirable career as a broadcaster, journalist, criminologist, and defence and security expert. Your attainment of a PhD in Defence and Strategic Studies from the Nigerian Defence Academy is a testament to your dedication to knowledge, leadership, and national development.

“As you continue your journey of service, I pray that Almighty Allah grants you sound health, greater wisdom, renewed strength, and many more years of impactful leadership.

” May He guide your steps and bless your aspiration to lead Kwara State into a new era of justice, prosperity, security, and inclusive development.
I have no doubt that your experience, integrity, and passion for the welfare of the people will continue to inspire hope and confidence among Kwarans and Nigerians. -AA

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Dangote Refinery, depot owners, and petroleum products marketers have agreed to further slash premium motor spirit prices across the value chain after meeting with the Nigerian government.

Recall that the federal government had insisted on further fuel price cuts by Dangote Refinery, depot owners, and marketers, respectively, on the basis of falling crude oil prices.

The Nigerian government stood on this ground in a meeting with the oil downstream sector’s regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, with the attendance of stakeholders within the value chain, including Dangote Refinery, depot owners and petrol marketers.

Nigerian Government had warned refiners and marketers on adherence to cost-reflection prices commensurate with the $72 per barrel Brent crude price amid war escalation in the Middle East.

NMDPRA’s position is that fuel price, indeed, other petroleum products should drop further.

The chief executive of NMDPRA, Rabiu Umar, stated this during Monday’s stakeholders meeting on cost-reflective pricing of petrol in Abuja.

Providing further details on the meeting, both the president of the Petrol Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, and the president of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, in separate interviews with DAILY POST, confirmed that fuel prices would further drop nationwide.

According to them, petrol may decline further to around N1000 or less if crude oil price continues to fall.

Gillis-Harry revealed that fuel price is to be reduced below its current rates of N1150 and N1299 per liter in Abuja and its environs.

According to him, major stakeholders in the country’s petroleum downstream sector were in the same boat on the fuel price drop.

However, he insisted that marketers cannot be compelled to sell fuel below cost.

He provided details of the meeting outcome, stating that it is focused on finding practical solutions that would make fuel more affordable for Nigerians.

“You can quote us that PETROAN is willing to work with the NMDPRA, the Federal FCCPC, the minister of petroleum, and all stakeholders to ensure that price reduction is implemented for the benefit of Nigerians.

“However, nobody is going to be running a business at a loss, and then, you know, basically what that means is that’s the close of business,” he said.

He explained that fuel pricing remains largely dependent on international market forces, noting that fluctuations in crude oil prices and other global factors make it difficult to fix a specific pump price.

“The true cost-reflective price is still determined internationally. That’s the reality,” Gillis-Harry said.

He added that the dynamics affecting pricing change constantly, making it impossible to announce a fixed cost-reflective price.

“It’s not easy to work things out because the dynamics of the input vary. There’s no time that is static,” he stated.

Why fuel pump price hasn’t dropped like crude oil price- Gillis-Harry

Addressing public expectations that petrol prices should immediately fall whenever crude oil prices decline, the PETROAN president said such assumptions do not reflect the realities of the downstream petroleum market.

“The expectations that are put by Nigerians, ‘Oh, the crude oil has come down to $72, therefore, it must affect us.’ But that is not the reality,” he said.

According to him, international oil prices remain volatile, noting that even during the meeting, crude prices rose sharply.

“Even today, as we are sitting there, we were checking the price volatility. Price increased by $7,” he said.

Gillis-Harry stressed that no stakeholder in the petroleum value chain could independently determine fuel prices, adding that efforts are ongoing to reduce costs across the industry.

“We cannot, in reality, make any pronouncements today. Because what we’re trying to do is everybody must take a cut,” he said.

“Every one of us must take a cut. We had earlier issued a press release on this matter, and it hasn’t changed.

“That press release was based on empirical evidence, empirical data, all of which today was very transparently presented.”

Marketers, retailers will not shut down due to fuel price reductions

He also maintained that the government cannot simply direct marketers to sell petrol at a predetermined price without considering market realities.

“If you tell us to go and sell at this price, then business is closed. How do Nigerians get fuel overnight?” He asked.

He added that allowing experienced operators to continue running the business remains the best approach to ensuring uninterrupted fuel supply.

“So as it is today, prices will come down, we know. But how much it will come down, we cannot say.

“And I don’t think it will be fair for me, for anybody, to make that kind of assumption because it will be just, at best. And assumptions are not facts,” Gillis-Harry said.

He noted that refiners, importers, and retailers have already begun adjusting prices downward where possible.

“You can see Dangote has been reducing. Our retail outlets have been reducing. That’s how we continue to go until the price comes down,” he said.

While expressing confidence that petrol prices would continue to decline over time, Gillis-Harry said the pace of reduction would depend on prevailing market conditions.

“It will come down. But how fast and how well is something that we have to keep working on until we get the dynamics of how to make sure that there’s an answer,” he added.

On his part, Maigandi reiterated that Dangote Refinery marketers will continue to reduce the price upon lower crude oil prices.

According to him, the federal government cannot impose fuel prices on stakeholders in the petroleum downstream.

“Fuel prices will go down further; that was our major agreement. Both Dangote Refinery and depot owners assured Nigerians.

“But you can say exactly that the fuel price may come down to below N1,000 per liter,” he stated.

Recall that Dangote Refinery, depot owners, and filling stations have dropped fuel prices by at least N100 per liter in the last three weeks.

This has led to fuel pump drops to between N1150 and N1299 per liter in Abuja and its environs.

At the weekend, Nigerian National Petroleum Company Limited slashed its fuel price to N1,150 per liter.

MRS filling station, AA Rano, Ranoil, NIPCO, and other filling stations dispense between N1,191 per liter and N1,240.

Recall that Brent and West Texas Intermediate crude blends stood at $71 and $68 per barrel at the time of filing this report.