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Petrol price crashes to ₦800 per litre as marketers seal deal with Dangote
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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has confirmed that petrol prices will drop significantly once its members begin purchasing products directly from the Dangote refinery.
Elijah Shettima, IPMAN’s national president, said that direct access to the 650,000-barrel-per-day refinery would cut out middlemen and slash distribution costs.
“Our major concern is to ensure that independent marketers can purchase products directly from the Dangote Refinery,” Shettima said.
He added that if imports become necessary, marketers should also be granted the freedom to bring in products independently.
₦125 Already Slashed More to Come
Shettima revealed that IPMAN members have already reduced petrol prices by about ₦125 per litre nationwide and they’re not stopping there.
“We are ready to reduce prices as long as we can maintain reasonable margins and remain profitable. Our goal is to make fuel more affordable for consumers,” he stated.
Could Petrol Hit ₦800 or Below?
When asked if Nigerians could expect petrol at ₦900 per litre, Shettima said the price would depend on procurement costs from depot owners.
But he went further:
“If procurement costs continue to decline, marketers could reduce pump prices further even below ₦800 per litre where market conditions permit.”
A Game-Changer for the Downstream Sector
Shettima described Dangote refinery’s decision to supply independent marketers directly as a major milestone, predicting it would:
· Boost competition
· Lower distribution costs
· Ultimately benefit millions of consumers
He also called on the federal government to continue supporting local refining by creating an enabling environment for existing refineries and encouraging more private investment.
The Bottom Line
With direct Dangote supply on the horizon, Nigerians could soon see petrol prices drop to levels not seen in years. For now, all eyes are on procurement costs and the promise of sub-₦800 fuel.
News
Reps Summon AGF, Six MDAs Over Repeated Snub of Oversight Invitations
By Gloria Ikibah
The House of Representatives has summoned the Accountant-General of the Federation, Shamseldeen Babatunde Ogunjimi, to appear before it on Monday after expressing frustration over what it described as his persistent failure to honour invitations and provide documents required for legislative oversight.
The Chairman of the House Public Accounts Committee, Rep. Bamidele Salam, issued what it called a final invitation during its sitting on Tuesday, warning that it would invoke its constitutional powers if the Accountant-General failed to appear.
Lawmakers said they were disturbed by what they described as the “non-responsive” attitude of the nation’s chief accountant, noting that several letters sent to his office in recent months had gone unanswered.
According to the committee, the repeated failure of the Accountant-General to appear before lawmakers or submit requested financial documents was hindering its constitutional responsibility to scrutinise public expenditure and ensure accountability.
Speaking during the session, Salam said the committee was particularly concerned by the conduct of the Accountant-General.
“The Public Accounts Committee is equally worried that the Accountant General is not showing any diligence in the rendering of Accounts of his office and the preparation of the country’s consolidated financial statements, thus setting a bad example for other agencies of government.
“The Office of the Accountant-General occupies a strategic position in Nigeria’s public financial management system. As a critical institution entrusted with the management of public finances, it is expected to work closely with the Committee in the discharge of its oversight responsibilities. Unfortunately, the current Accountant-General has not demonstrated the level of cooperation expected of the office”, he said.
Salam stressed that no public official was exempt from legislative scrutiny.
He reaffirmed the committee’s determination to enforce compliance with its oversight mandate, saying public officers remained accountable to Nigerians through their elected representatives.
The committee also extended its summons to six Ministries, Departments and Agencies whose chief accounting officers have repeatedly failed to honour previous invitations.
Those directed to appear before the committee on Monday, 13 July 2026, are the Nigerian Meteorological Agency, Federal Cooperative College, Ibadan, Cocoa Research Institute of Nigeria, Federal Ministry of Education, Federal Ministry of Innovation, Science and Technology and Federal Ministry of Police Affairs.
The committee directed the accounting officers of the agencies, as well as the permanent secretaries of the affected ministries, to appear in person.
Salam warned that lawmakers will not hesitate to deploy every constitutional and parliamentary instrument available to compel attendance by any public institution or official that ignored its invitations.
He said the committee remained committed to strengthening transparency, promoting accountability and ensuring the prudent management of public resources in line with its constitutional mandate.
News
FG mourns Nigerian Medical Graduate Killed in Russian Attack on Ukraine
FG mourns Nigerian Medical Graduate Killed in Russian Attack on Ukraine
By Gloria Ikibah
The Federal Government has expressed deep sorrow over the death of a 23-year-old Nigerian medical graduate, Nnani Adaobi Marian, who was reportedly killed after sustaining injuries during a Russian aerial attack on the Ukrainian city of Kharkiv.
In a statement issued on Tuesday, by the Spokesperson of the Ministry of Foreign Affairs, Kimiebi Ebienfa, the Federal Government said it received the news of Marian’s death with “profound sadness”, describing the incident as a tragic consequence of the ongoing conflict in Ukraine.
According to the ministry, Marian was a graduate of Kharkiv National Medical University.
The statementread: “The Ministry of Foreign Affairs has received with profound sadness the news of the death of Miss Nnani Adaobi Marian, a 23-year-old Nigerian medical graduate of Kharkiv National Medical University, who reportedly succumbed to injuries sustained during a Russian aerial attack in Kharkiv, Ukraine.”
The Federal Government extended its condolences to the deceased’s family, friends and colleagues, as well as members of the Nigerian community affected by the loss.
The ministry said it was working with the relevant authorities and Nigeria’s diplomatic missions to establish the full circumstances surrounding the incident and provide support to the family.
“The Federal Government extends its heartfelt condolences to the bereaved family, friends, colleagues, and the Nigerian community affected by this tragic loss. The Ministry prays that Almighty God grants the deceased eternal rest and gives her family the strength to bear this irreparable loss.
“The Ministry is in contact with the relevant authorities as well as Nigeria’s Missions in Ukraine and Germany to verify the circumstances surrounding the incident and to provide the necessary consular assistance to the family”, it added.
Reaffirming Nigeria’s longstanding position on the war, the government expressed concern over the continuing loss of civilian lives and renewed its call for an end to the conflict.
“The Federal Government of Nigeria reiterates its deep concern over the continuing loss of civilian lives arising from the ongoing conflict and renews its call for an immediate cessation of hostilities. Nigeria urges all parties to embrace dialogue, diplomacy, and the peaceful resolution of disputes in accordance with international law and the principles of the United Nations Charter.
“Nigeria remains committed to the protection and welfare of its citizens abroad and will continue to monitor developments closely while providing all necessary support through its diplomatic missions”, the statement further read.
News
Security operatives nab El-Rufai’s personal physician
The Independent Corrupt Practices and Other Related Offences Commission, ICPC, has nabbed Professor Bello Abubakar, the personal physician to former governor Nasir El-Rufai of Kaduna State.
In a statement by John Odey, the ICPC spokesperson, Abubakar was arrested on Tuesday after what the commission described as abuse of privilege by El-Rufai and the medical doctor and violation of court order.
The anti-graft agency’s spokesman revealed that based on the court’s directives, the commission facilitated the former governor’s request to receive medical attention and allowed him to visit the National Hospital in Abuja under security arrangements in order for him to meet with his personal physician.
The visit to the hospital was, however, turned into a meeting, which one of the former governor’s political associates, Isa Ashiri Kudan, posted photographs of on Facebook at about 2 pm yesterday.
According to Odey, thisindicated that the visit was utilised for activities outside the scope contemplated by the court and the ICPC.
“The Independent Corrupt Practices and Other Related Offences Commission, ICPC, has expressed concern over developments surrounding a court-approved medical visit granted to former Governor of Kaduna State, Mallam Nasir Ahmad El-Rufai, who is currently in the Commission’s custody.
“The Kaduna State High Court had fixed July 6, 7, and 8, 2026, for an accelerated hearing of the criminal charges pending against the defendant. On the first day of hearing, however, Mallam El-Rufai did not appear before the court.
“During proceedings, the prosecution informed the court that when officers of the Commission prepared to convey the defendant to court, he declined to accompany them, insisting that he wished to consult his personal doctor.
“The prosecution further informed the court that no prior request had been made to the Commission for such medical consultation and that, when asked by the Commission’s medical doctor, the defendant reportedly indicated that he had no immediate medical complaints but stated that his wife, Asia El-Rufai, who is also one of his legal counsel, had requested that he see his personal physician, Professor Bello Abubakar,” Odey said in the statement.
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