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Dangote Refinery reduces price of fuel

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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.

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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.

 

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“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.

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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.

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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.

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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.

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Ecoparl: Senator Barau Urges ECOWAS to Tackle Root Causes of Farmer-herder Conflicts

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By Gloria Ikibah

Deputy President of the Nigerian Senate and First Deputy Speaker of the ECOWAS Parliament, Senator Barau Jibrin, has urged West African countries to draw lessons from Nigeria’s experience with farmer-herder conflicts and the humanitarian crises arising from them.

First Deputy Speaker made the call in a presentation titled, “Strategies for addressing internal displacement and farmer-herder conflicts in Nigeria”, delivered on his behalf by Senator Sadiq Umar during the Second Extraordinary Session and Seminar of the ECOWAS Parliament in Accra, Ghana.

He said Nigeria’s experience offered important lessons for the region and the African continent, particularly in addressing conflicts linked to competition for land and water.

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According to him, Nigeria has extensive agricultural and pastoral economies, with a large proportion of the population depending on farming and livestock production for their livelihoods.

He, however, said increasing pressure on land and water resources had contributed to conflicts, banditry, terrorism and other humanitarian disasters.

Barau said the Federal Government had introduced measures to address the humanitarian consequences of the conflicts, including the creation of the Ministry of Humanitarian Affairs and Poverty Reduction.

He said the ministry was, among other responsibilities, established to manage emergency relief operations and responses to internally displaced persons (IDPs).

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He said: “Nigeria’s approach is increasingly consistent with the international shift from short-term humanitarian response towards government-led development-orientated solutions.

“Nigeria is also one of the countries selected under the United Nations Secretary-General’s Action Agenda on Internally Displaced and Focused National Pathways towards Durable Solutions.

“Nigeria’s commitment to the protection of internally displaced persons has also been strengthened through its engagement with the African Union Convention for the Protection and Assistance of Internally Displaced Persons in Africa, commonly known as the Kampala Convention”.

Despite these interventions, Barau expressed concern that the crisis had continued to defy efforts to resolve it, with more than three million Nigerians still living in internally displaced persons’ camps across the country.

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He argued that internal displacement should not be regarded as the sole responsibility of humanitarian agencies, but should involve coordinated action by relevant Ministries, Departments and Agencies (MDAs), traditional institutions and other stakeholders.

First Deputy Speaker also called for greater attention to early warning systems, conflict prevention mechanisms and climate adaptation as part of efforts to prevent conflicts before they escalate.

He said livestock should not be viewed merely as a security issue but also as an important economic sector capable of contributing to livelihoods and national development.

According to him, investment in ranching, animal feeding and breeding could help reduce some of the pressures associated with uncontrolled livestock movement.

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Barau also urged ECOWAS parliamentarians to develop appropriate legislative frameworks for the protection of displaced persons and the regulation of land and livestock management.

“Parliamentary committees should conduct evidence-based oversight of government programmes and expenditure relating to displacement, security, agriculture, livestock and reconstruction,” he said.

He stressed that Nigeria’s experience had shown that internal displacement and farmer-herder conflicts were complex challenges that could not be resolved through isolated interventions.

The Senator said effective implementation of policies and programmes was equally important to ensuring that farmers and herders could pursue their lawful and productive livelihoods without unnecessary conflict.

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Barau’s presentation focused on Nigeria’s internal security challenges and their socio-economic consequences, while urging other countries in the region to focus more on preventing similar crises rather than waiting to respond after they occur.

“For Africa, the challenge extends beyond responding to crises after they occur, it requires building resilient institutions, economies and communities capable of preventing conflicts and protracted displacement.

“As parliamentarians, we have a responsibility to support appropriate legislation, strengthen oversight, promote inclusive dialogue and ensure that public resources are directed towards sustainable solutions,” he added.

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ECOWAS Parliament Must Stay Close to Citizens – Afenyo-Markin

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By Gloria Ikibah

Third Deputy Speaker of the ECOWAS Parliament and member of Ghana’s delegation, Alexander Kwamena Afenyo-Markin, has called on parliamentarians to remain close to the people they represent and ensure that regional integration delivers tangible benefits to citizens.

Afenyo-Markin made the call during the ongoing Second Extraordinary Session and Seminar of the ECOWAS Parliament in Accra, Ghana, where he formally handed over his responsibilities to George Kweku-Ricketts Hagan of Cape Coast South, following the completion of his tenure.

The outgoing Deputy Speaker said regional integration must go beyond treaties, protocols and meetings among institutions, insisting that its impact must be visible in the daily lives of citizens across West Africa.

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“Regional integration must be understood beyond treaties, protocols and meetings of institutions. Its true value must be felt in our communities, in the opportunities available to our young people, in the movement of our citizens and businesses across borders,” he said.

He said no single member state could successfully confront the challenges facing the region alone, stressing the need for collective action and stronger regional cooperation.

Afenyo-Markin also drew attention to the connection between climate change, poverty and insecurity in the region.

He said climate change could intensify existing pressures, worsen poverty, increase competition over land and water resources and threaten livelihoods.

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He, however, cautioned against attributing every conflict in the region to climate change, urging policymakers to understand the relationship between environmental stress and insecurity without oversimplifying complex conflicts.

The outgoing Deputy Speaker also highlighted the importance of taking parliamentary activities beyond national capitals as part of efforts to bring regional institutions closer to the people.

He recalled the parliamentary seminar held in Congo Town, Liberia, in 2019 and the decision to take parliamentary activities to Winneba, the capital of his constituency, in 2021.

According to him, the initiative demonstrated the importance of taking the parliament to communities rather than limiting its activities to traditional political centres.

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“Winneba subsequently hosted parliamentary activities on four occasions by 2024,” he said.
Afenyo-Markin said the visits provided residents with opportunities to interact directly with the regional institution, including traditional rulers, members of the business community, young people and the University of Education, Winneba.

“We must from time to time, leave the familiar surroundings of our national capital and meet our citizens where they live,” he said.

He noted that the approach had subsequently been extended to other locations, including Kano and Port Harcourt in Nigeria.

The lawmaker, who took time to highlight some of his contributions to his constituency and the wider region, said greater engagement with citizens remained central to strengthening the relevance of the ECOWAS Parliament.

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At the handover ceremony, Afenyo-Markin expressed confidence in his successor, describing Hagan as a worthy parliamentarian with the experience required for the responsibility.

“He is a worthy member of Parliament, who I believe will succeed me in this responsibility. He is bringing his experience in parliamentary diplomacy and an understanding of regional integration to the role.

“Leadership is ultimately about service and continuity,” Afenyo-Markin said.

He also pledged his continued support to the ECOWAS Parliament, assuring that Ghana’s delegation would continue to contribute meaningfully to the work of the regional legislature.

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Speaker Ibrahima Hails Ghana’s Female Vice Presidency, Pushes Diploma Recognition

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By Gloria Ikibah

The Speaker of the ECOWAS Parliament, Rt. Hon. Memounatou Ibrahima, has described Ghana’s decision to elect a woman as Vice-President as an inspiration for women and girls across West Africa.

Speaker Ibrahima stated this when she met Ghana’s Vice-President, Professor Naana Jane Opoku-Agyemang, on the sidelines of the ongoing Second Extraordinary Session of the ECOWAS Parliament and the Second 2026 Parliamentary Seminar in Accra.

She expressed appreciation to the Vice-President for receiving her and for the speech she delivered at the opening of the parliamentary proceedings.

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Ibrahima also commended President John Dramani Mahama and the people of Ghana, saying the country’s choice to have a woman occupy the vice presidency sent an important message across the region.

She said: “By entrusting the vice presidency to a woman, Ghana sends a powerful message to our entire region: that Africa believes in women’s leadership. Her journey is an inspiration to millions of young girls”.

The meeting also focused on the 25th anniversary of the ECOWAS Parliament and its core responsibilities, including issuing opinions on matters referred to it, examining the Community’s budget and conducting oversight missions.

The two leaders further discussed issues affecting young people across the region, particularly the harmonisation of curricula and mutual recognition of academic diplomas among ECOWAS member states.

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Ibrahima said making it possible for qualifications obtained in one ECOWAS country to be recognised in another will strengthen regional integration and make free movement more meaningful.

She said a graduate from Lomé, Abuja or Dakar should be able to have their skills recognised in Accra, describing such recognition as an important step towards building an ECOWAS of the Peoples.

The Speaker thanked the Ghanaian authorities for their hospitality and the organisation of the parliamentary session.

The meeting forms part of the ECOWAS Parliament’s engagement with regional leaders as the institution marks its 25th anniversary and pursues integration priorities, including youth mobility and the recognition of academic qualifications across West Africa.

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Rt. Hon. Ibrahima is the first woman to serve as Speaker of the ECOWAS Parliament since its establishment in 2000, having been elected to lead the sixth legislature in May 2024.

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