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Again, Dangote Refinery slashes price of petrol

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Dangote Petroleum Refinery has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), lowering the gantry price by ₦50 per litre to ₦1,075 per litre, its fourth price cut within a month.

The latest reduction brings the cumulative decrease in the refinery’s PMS ex-depot price to ₦200 per litre since May 30, 2026.

Over the same period, the refinery also reduced the ex-depot price of Automotive Gas Oil (AGO), commonly known as diesel, by ₦300 per litre, while the price of Jet A1 aviation fuel has fallen by ₦520 per litre.

The company said the successive reductions reflect its commitment to passing lower production costs to consumers while maintaining the long-term sustainability of domestic refining operations.

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In a statement issued on Thursday, the refinery explained that petroleum product pricing cannot mirror daily movements in international crude oil markets because crude oil is purchased weeks, and sometimes months, before it is processed.

According to the refinery, the petroleum products currently being supplied to the market are being produced from crude inventories acquired during periods of substantially higher prices.

It disclosed that the average landed cost of crude processed stood at approximately US$124.80 per barrel in May and US$95.25 per barrel in June, compared with the current international benchmark of about US$71.01 per barrel.

The refinery also clarified that its crude procurement costs are not based solely on the ICE Brent benchmark commonly quoted in the media.

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Rather, it said crude is purchased on a Dated Brent basis, together with applicable market premiums, freight and logistics costs, resulting in actual feedstock costs that differ materially from benchmark prices.

Despite the higher crude acquisition costs, Dangote Refinery said it deliberately absorbed a significant portion of the additional expenses instead of transferring the full impact to consumers.

The company said the pricing approach has helped keep petroleum product prices in Nigeria below those in neighbouring countries, even after accounting for applicable taxes.

“As lower-priced crude cargoes progressively enter our production cycle, we have begun systematically passing the benefits to the market through phased price reductions,” the refinery said.

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It added: “Today’s ₦50 per litre reduction is the fourth price cut in one month, bringing cumulative reductions to above ₦200 per litre on PMS.

This approach ensures that pricing decisions are anchored on actual production economics and inventory costs rather than short-term fluctuations in international oil markets.”

The refinery also said its current production volumes are sufficient to meet Nigeria’s domestic fuel demand, helping to strengthen energy security, reduce dependence on imports, conserve foreign exchange and provide greater price stability.

Dangote Refinery expressed confidence that if international crude prices remain favourable and lower-cost feedstock continues to replace higher-priced inventories, Nigerians should expect further moderation in petroleum product prices.

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The company reaffirmed its commitment to supplying high-quality, internationally certified petroleum products at competitive prices while supporting Nigeria’s economic growth and the long-term development of the downstream petroleum sector.

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Osun Election: Police Deploy 30 CPs, 15,000 Personnel as DIG Takes Charge of Security

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The Nigeria Police Force has deployed no fewer than 30 Commissioners of Police and more than 15,000 personnel to provide security for Saturday’s governorship election in Osun State.

The Force also disclosed that a Deputy Inspector-General of Police (DIG) would coordinate the overall security operations for the election, while helicopters and drones would be deployed for aerial and area surveillance before, during and immediately after the poll.

The Force Public Relations Officer, CSP Anietie Iniedu, disclosed this while briefing journalists on Friday in Osogbo, the Osun State capital, on the police preparations for the election.
Iniedu said the police commenced the deployment of personnel and other security resources three weeks before the election, adding that the measures were designed to ensure adequate security across the state’s 30 local government areas.
According to him, more than 15,000 police operatives would be deployed for election duties, while a police helicopter and drone unit had already arrived in Osogbo to support surveillance operations.

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He further disclosed that two units of the Police Mobile Force (PMF), each comprising more than 60 personnel, had been deployed to the headquarters of the Independent National Electoral Commission (INEC) in Osogbo.

Similarly, he said each of the 30 local government areas would have a PMF unit to reinforce security during the election.

“We have deployed armed mobile policemen to every local government area in the state. So, we have 30 units across 30 local government areas. A unit is about 60 policemen.

“We also have two units of armed mobile policemen attached to the Independent National Electoral Commission headquarters in Osogbo here. The men who stay at the local government areas are being coordinated by a Commissioner of Police. There is a Commissioner of Police in each Local Government Area.
“We also have a Deputy Commissioner of Police in each Local Government Area, as well as a Mobile Police Commander and a PMF commander with the rank of Assistant Commissioner of Police in each Local Government Area.

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“As of Thursday, our helicopters and drone units have arrived in Osogbo, and they will be conducting area surveillance from now, during and immediately after the elections.”

The Force PRO also disclosed that the Army would cordon off border routes leading into Osun State from midnight on Saturday as part of measures to restrict movement during the election.
“We will be locking down the state. We will not be allowing any vehicular movement apart from those on essential duty, security duties and those going to cast their franchise,” he said.

Iniedu urged parents to caution their children and wards against engaging in electoral offences, warning that security agencies would deal with anyone found violating the law.
He specifically identified intimidation, stalking, vote-buying and ballot-box snatching as offences that would attract legal consequences.

He also disclosed that a mobile court would be available to handle cases involving persons arrested for alleged electoral offences.
On firearms recovered from suspected hoodlums in the state, Iniedu said the police were yet to collate the specific details of the weapons but disclosed that about 34 illegal firearms had so far been recovered.

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“We don’t have specific details about the guns we have mopped up, but I know that in Osun State, so far, we have mopped up about 34 illegal firearms, and investigations are ongoing,” he said.

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Use Osun poll as model to show how prepared you’re for 2027 general elections, TInubu tasks INEC

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President Bola Tinubu has ordey INEC and security agencies to use Osun as a model to show how prepared it is for 2027 general elections.

The president also urged the electoral umpire to ensure a peaceful, transparent and credible governorship election in Osun State on Saturday, August 15, 2026.

Fifteen candidates are participating, with incumbent Governor Ademola Adeleke of the Accord Party, APC candidate Asiwaju Munirudeen Bola Oyebamiji and ADC candidate Hon. Najeem Salaam among the major contenders.

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As the people of Osun State head to the polling units to elect who will govern them in the next four years, I call on the Independent National Electoral Commission to ensure orderly conduct of the election.

The election must be transparent, free and fair. I urge INEC to ensure the integrity of the process,” the President said.

Describing the poll as the last off-cycle governorship election before the 2027 general elections, Tinubu urged INEC to demonstrate its preparedness.
“INEC must use this last off-cycle election as a test case to demonstrate to Nigerians their full preparedness for the 2027 polls,” Tinubu added.

He directed security chiefs to protect voters and electoral officials, warning against disruptions.
“I have charged the Inspector-General of Police and other heads of security outfits taking part in the election to provide maximum security at polling units. No room should be allowed for troublemakers to disrupt the process,” he said.

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Electoral officials and voters must be protected so they can perform their civic duties without fear or intimidation,” he added.

Tinubu urged voters to turn out and vote, assuring them of adequate security.
“Voters should feel confident to go out in their numbers to vote for the candidate of their choice as all measures necessary to ensure a peaceful, free and fair election have been put in place,” the President said.

“Our elections must be credible, and the outcome of the Osun Governorship election must reflect the will of the people,” Tinubu stated.

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Osun 2026: Davido Raises Alarm Over Ebonyi REC’s Presence, Alleges Plot to Rig Election

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Popular Nigerian singer, David Adeleke, better known as Davido, has raised concerns over the transparency of Saturday’s Osun State governorship election, alleging that some political actors and election officials may be working to compromise the process.
Davido, in a post on social media, specifically questioned the presence of the Resident Electoral Commissioner (REC) for Ebonyi State, Mrs Onyeka Pauline Ugochi, in Osun, alleging that she was not officially deployed by the Independent National Electoral Commission (INEC) to supervise the election.

The singer further alleged that the REC’s presence in the state was connected to political manoeuvring involving Imo State Governor, Hope Uzodimma, whom he accused of attempting to influence the outcome of the election.
“Mrs Pauline Ugonyeka, REC Ebonyi State. She was not deployed by @inecnigeria. What is she doing in Osun? She was sent here from Gov Hope Uzodinma to rig! We will resist you, Madame!!” Davido wrote.

However, the allegations have not been independently verified, and it was not immediately clear why the Ebonyi REC was in Osun or whether she had been assigned any official role by INEC.
Davido, who is a nephew of the incumbent Osun State Governor, Ademola Adeleke, has been actively involved in political activities and campaigns in the state ahead of Saturday’s election.

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The allegations come amid heightened tension and heightened security preparations in Osun, with political parties and their supporters expressing concerns over the credibility and peaceful conduct of the poll.

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