News
Dangote Refinery reduces price of fuel
- /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://naijablitznews.com/wp-content/uploads/2024/06/Dangote-diesel.jpg&description=Dangote Refinery reduces price of fuel', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://naijablitznews.com/wp-content/uploads/2024/06/Dangote-diesel.jpg&description=Dangote Refinery reduces price of fuel', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
By Ojomah Austin.
The Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, lowering its gantry price by ₦75 per litre amid signs of stability in the global energy market.
In a circular issued to fuel marketers on Monday, the refinery disclosed that the new price adjustment takes effect from midnight, June 16, 2026.
Under the revised pricing structure, the gantry price of petrol has been reduced from ₦1,250 per litre to ₦1,175 per litre, providing some relief to marketers and consumers after months of rising fuel costs.
The refinery also announced a reduction in its coastal supply price, which dropped from ₦1,595,790 per metric tonne to ₦1,495,215 per metric tonne.
According to the company, the decision was influenced by the recent easing of geopolitical tensions in the Middle East, a development that has helped moderate global crude oil and energy prices.
“Following the de-escalation of tensions in the Middle East, which has impacted energy prices, we wish to inform you that we have reviewed our Premium Motor Spirit gantry and coastal prices,” the refinery stated in the notice to marketers.
The company further clarified that all outstanding unloaded gantry volumes would be recalculated using the new rate from the effective date.
“Kindly note that all outstanding unloaded gantry volumes will be repriced at the new rate effective 12:00 a.m., June 16, 2026. We sincerely appreciate your continued patronage and assure you of our unwavering commitment to reliable product supply and excellent service delivery,” the statement added.
Marketers Yet to Reflect New Price
Despite the refinery’s reduction, retail pump prices across many parts of the country remained significantly higher as of Monday.
Industry data from Petroleumprice.ng indicated that several filling stations were still selling petrol at around ₦1,240 per litre, suggesting that consumers may not immediately benefit from the refinery’s latest adjustment until existing stock is exhausted and new supplies enter the market.
The development positions Dangote Refinery as one of the most competitively priced suppliers in the domestic petroleum market.
Global Oil Prices Begin to Retreat
The latest price cut comes as pressure in the international crude oil market begins to ease following reports of renewed diplomatic engagements between the United States and Iran over the reopening of the strategic Strait of Hormuz.
Global oil prices had experienced significant volatility over the past three months due to hostilities involving the two countries.
The development positions Dangote Refinery as one of the most competitively priced suppliers in the domestic petroleum market.
Global Oil Prices Begin to Retreat
The latest price cut comes as pressure in the international crude oil market begins to ease following reports of renewed diplomatic engagements between the United States and Iran over the reopening of the strategic Strait of Hormuz.
Global oil prices had experienced significant volatility over the past three months due to hostilities involving the two countries.
News
Deliver justice fast, ignore tribe, status – Tinubu to judges
President Bola Ahmed Tinubu has called on the Nigerian judiciary to ensure the delivery of fair and timely justice, warning that a compromised legal system poses a threat to democratic stability.
The president made the call on Monday during the commissioning of the Court of Appeal Abuja Division building complex in Dakibiyu, Abuja.
The development was disclosed in a statement posted on the official page of Vice President Kashim Shettima, who represented the President at the event.
According to the statement, Tinubu expressed concern over delays in the administration of justice and the growing frustration among citizens over prolonged court cases and case backlogs.
He said the justice system must remain accessible, fair and efficient to sustain public confidence in the judiciary.
“To my Lords Justices, as you move into this complex, Nigeria asks one thing of you: let justice be swift. Let it be fair. Let it be blind to status, tribe, or purse. Let the common man feel that this Court is truly his last hope,” Tinubu said.
The president stated that the newly commissioned Court of Appeal complex reflects his administration’s commitment to strengthening the justice sector under the Renewed Hope Agenda.
According to him, providing a befitting working environment for judicial officers remains part of efforts to improve the effectiveness of the nation’s justice system.
News
Court adjourns El-Rufai’s trial to June 24 over absence of two co-defendants
The Federal High Court sitting in Kaduna on Monday adjourned the trial of former Kaduna State Governor Nasir Ahmad El-Rufai to June 24, 2026, following the failure of two co-defendants to appear before the court.
El-Rufai, who is being prosecuted by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over allegations of abuse of office, financial impropriety, and fraud during his tenure as governor, was present in court when the matter was called.
The former governor arrived at the court premises at about 9:30 a.m., accompanied by officials of the ICPC, as well as operatives of the Department of State Services (DSS) and the Nigeria Police Force.
However, proceedings could not continue as scheduled after two other defendants named in the charge failed to appear before the court.
Following submissions by counsel, the presiding judge adjourned the matter to June 24, 2026, for the continuation of the hearing.
El-Rufai has consistently denied all allegations levelled against him, insisting that all actions taken during his administration were carried out in accordance with the law and established procedures.
The ICPC, on its part, alleges that public funds were released for projects that were either not executed or were improperly handled during the former governor’s administration.
The anti-corruption agency maintains that the charges against the defendants are supported by evidence gathered during its investigations and has expressed readiness to prosecute the case to its logical conclusion.
At previous sittings, the court had entertained arguments relating to bail conditions and preliminary applications filed by the defence team.
Monday’s proceedings were expected to feature further arguments on pending motions before the unexpected absence of the two co-defendants stalled the hearing.
The trial has continued to attract considerable public attention, given El-Rufai’s prominence in national politics and his eight-year tenure as governor of Kaduna State between 2015 and 2023.
With the matter now adjourned, both the prosecution and defence teams are expected to return to court on June 24 for the continuation of proceedings.
News
Obi condemns court-ordered deregistration of ADC, others
Presidential candidate of the Nigeria Democratic Congress, NDC, ahead of the 2027 polls, Peter Obi, has condemned in very strong terms the order given by the Federal High Court in Abuja that the African Democratic Congress, ADC, and four other parties should be deregistered for failing to meet constitutional requirements.
The former Anambra State governor, who took a swipe at the pronouncement, warned that the nation’s sacred institutions must not be sacrificed on the altar of politics.
Reacting to the Federal High Court ruling on Monday deregistering some political parties, including ADC, Obi remarked that the nation rises when institutions are stronger and not when they’re politicised.
Justice Peter Lifu ruled Monday that the Independent National Electoral Commission, INEC, must deregister ADC, Accord, Action Alliance, AA, Action Peoples Party, APP, and Zenith Labour Party, ZLP, after they failed to secure 25% of votes in the last general elections.
Writing on his X handle, the 2023 Labour Party Presidential Candidate said, “When the controversy surrounding the removal of the former Chief Justice of Nigeria, Walter Onnoghen, unfolded, I expressed a concern to a friend: that the greatest damage might not be immediate, but the message it sends about the sanctity and independence of our institutions to the world.”
“Strong economies are built on trust. Investors can manage security risks, policy risks, and even market risks. What they fear most is uncertainty in the rule of law and a judiciary that is perceived to be vulnerable to political pressure.
“Today, many Nigerians have lost confidence in systems that should protect them. Businesses increasingly request that their contracts be governed by foreign jurisdictions because they have greater confidence in those institutions than in our own. That should concern every patriot.
“We must never sacrifice our sacred institutions on the altar of politics. Nations rise when institutions are stronger than individuals. The Federal High Court judgment ordering the deregistration of the ADC and other political parties is just one of those activities that further reduces the common man’s trust in our legal systems; it should be reversed.
“I pledge that we will restore the dignity, independence, and integrity of the judiciary. The common man must have a voice. The business community must be protected from legal uncertainty and intimidation. Justice must be impartial, accessible, and respected by all.
“To our judges, legal luminaries, senior advocates, and lawyers: this is your moment. Rise, defend the rule of law, take back your country! A new Nigeria is possible.”
-
News14 hours agoJust in: Kwara traditional ruler reportedly dies in kidnappers hideout after demand of N21m ransom
-
News19 hours ago2025 Capital Budget Gets New Lease of Life as Reps Push Deadline to September
-
News9 hours agoNigerian Ports Record Global Leap as Apapa, Tin Can Gain World Bank Recognition
-
News15 hours agoFinally, US-Iran deal announced with end to military warefare
-
News4 hours agoSokoto under siege as bandits bar farmers from farms impose new levies
-
Politics14 hours agoHours after Abuja Court ruling, another Court in Owerri rules against deregistration of party
-
News16 hours agoPrice of petrol expected to drop to N900 per litre as US-Iran opens way for Strait of Hormuz
-
News23 hours agoDay 4 of projects commissioning as President TInubu set to commission newly constructed Court of Appeal Building
