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Dangote raises petrol prices to N955 from N899/litre for bulk buyers

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By Francesca Hangeior.

 

Sequel to a consistent surge in the price of Brent, the global benchmark for crude, the Dangote Petroleum Refinery has communicated an upward adjustment in the price of Premium Motor Spirit, also known as petrol, to its customers.

In an email statement obtained by our Correspondent on Friday, the refinery announced that its refined products would now be priced at N955 per litre at the loading gantry, marking an adjustment in its pricing structure.

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It noted that marketers buying between 2 million – 4.99 million litres will now buy at N955 per litre while 5 million litres & above will buy at N950 per litre.

The amount marks an increase of N55.5 or 6.17 per cent from N899.50 per litre announced as a holiday discount for Nigerians last year December.

This adjustment applies to all stock balances yet to be lifted by the stated time while pending stock as of the effective time will also be repriced at the updated rates.

The statement added that the new price regime will take effect from 5:30 PM, today.

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The notice titled, “Communication on PMS Price Review” read, “Dear Esteemed Customer, Trust this email finds you well.

“Kindly be advised that effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit.

“We shall communicate with customers on their revised volumes based on the reviewed prices, in due course.”

The price increase is expected to have widespread effects on the downstream petroleum sector, particularly private depots and retail markets.

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An oil and gas expert, Olatide Jeremiah, said depots are poised to increase the loading price of refined petroleum products because of the heavy influence of the refinery.

Jeremiah, who is the Chief Executive Officer of petroleum price.ng, said, “Dangote Refinery’s influence on Fuel price has become unmatched; private depots, Major marketers, and independent Marketers will compete with this new price. Therefore, Nigerians should expect an increase in Petrol Pump Price.

Brent Crude oil as of today is $81.84, highest in 2025, its one major factor for the increase.”

On Thursday, the Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, disclosed that the price of crude oil in the international market remains a major force in driving the fluctuations in the pump prices of petrol.

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He said the downstream sector is now fully deregulated with the government no longer involved in setting prices.

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NASS Joint Committee Suspends Fire Service Budget Over Irregularities

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By Gloria Ikibah

The National Assembly Joint Committee on Interior has suspended the budget defence of the Federal Fire Service (FFS) following significant discrepancies in the agency’s 2024 budget performance and 2025 proposal.

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At a hearing chaired by Senator Adams Oshiomhole and his counterpart from the House, Chair Abdullahi Aliyu Ahmed, lawmakers flagged irregularities, including contradictory figures and inadequate documentation.

The committee uncovered discrepancies in the procurement of firefighting trucks, with similar units priced at N1.5 billion in one instance and N2.5 billion in another, despite being from the same supplier and of identical specifications.

The FFS Controller General, Jaji Abdulganiyu Idris, attributed the difference to variations in tanker sizes but failed to provide adequate supporting documentation.

Senator Oshiomhole criticized the inconsistencies, stating, “This reeks of over-padding or over-invoicing. Your written submission does not align with your explanation, and we cannot overlook this.”

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Lawmakers also raised concerns about unclear contract commitments and an outstanding payment of N603 billion for ongoing projects, which lacked proper specifications.

Oshiomhole emphasized fiscal responsibility, saying, “Every N10 wasted by MDAs adds up. Our duty is to ensure that every naira benefits Nigerians, especially the poor.”

The committee further queried the FFS over unverified revenue remittances. Idris presented manual receipts as evidence, but the lawmakers rejected them, demanding proper bank statements and confirmation from the Accountant-General’s office.

As a result, the committee stepped down the FFS budget defence, instructing the agency to rectify its submission. Oshiomhole warned, “Submit a revised presentation with accurate figures, or risk zero allocation in 2025.”

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The decision underscores the lawmakers’ commitment to accountability and efficient use of public funds, urging the FFS to address the issues promptly to secure its funding.

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Health Minister Decries Delayed Capital Funding, Highlights 2025 Budget Plans

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HouBy Gloria Ikibah

The Minister of Health and Social Welfare, Prof. Mohammed Ali Pate, has revealed that only 15.06 percent of the capital allocation for the health sector in 2024 has been released, significantly delaying the execution of critical projects.

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Speaking during defence of the Ministry’s 2025 budget before the Senate and House of Representatives Joint Committee on Health, Prof. Pate attributed the delays to the bottom-up cash plan policy of the Office of the Accountant General of the Federation.

Out of the N233.656 billion allocated for capital projects in 2024, only N26.552 billion was released and utilized. The Minister also disclosed that the Ministry had not received any funds from the N57.393 billion earmarked for multilateral and bilateral loans.

Giving and overview of the 2024 budget performance, Prof. Pate detailed that the total 2024 budget for the Ministry stood at N242.14 billion, comprising:

  • N7.48 billion for personnel,
  • N998.74 million for overhead, and
  • N233.66 billion for capital projects.

For 2025, the budget estimates have been slightly increased to:

  • N10.36 billion for personnel,
  • N1.59 billion for overhead, and
  • N248.32 billion for capital projects.

On the Health Sector Vision and Strategic Goals, the Minister emphasised that the health sector operates within the framework of the Vision 20:2020, the National Development Plan (2021–2025), and the National Strategic Health Development Plan. These policies aim to guarantee the right to health for all Nigerians, guided by the National Health Act and the 2016 National Health Policy.

He stressed that the 2025 budget aligns with the government’s focus on universal health coverage, prioritizing:

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  • Strengthening the primary healthcare system,
  • Enhancing equitable and efficient health service delivery, and
  • Promoting socio-economic development through improved health outcomes.

Prof. Pate also highlighted that the budget preparation for 2025 adhered to the GIFMIS platform, ensuring resource allocation aligns with national priorities and ministerial deliverables.

Responding to lawmakers, the Minister called for national unity in advancing the health sector. He noted significant progress despite challenges, including:

  • The provision of world-class facilities in federal hospitals,
  • Investment in infrastructure and manpower development,
  • Local drug production boosted by the President’s Executive Order signed in June 2024, which has empowered manufacturers to upgrade their operations.

He further lauded Nigerian medical personnel for their global demand, underscoring their competence and dedication.

The Minister reaffirmed the government’s commitment to improving healthcare delivery and urged Nigerians to recognize the positive developments in the sector.

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2025 Budget: Reps Say Performance Is Criteria for Increased Funding

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HhouseBy Gloria Ikibah

The House of Representatives Committee on Federal Polytechnics and Higher Technical Education has reiterated that performance must justify any requests for additional funding by agencies in the 2025 budget.

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Chairman of the Committee, Rep. Fuad Kayode Laguda, made this clear during the budget defence session of the National Board for Technical Education (NBTE), presented by its Executive Secretary, Professor Idris Bugaje.

Laguda acknowledged the funding challenges faced by polytechnics but emphasised the importance of demonstrating effective utilization of allocated resources before seeking more.

“Performance is very key. It is a known fact that polytechnics are poorly funded, but we need to justify why more resources are needed. To be honest, not all institutions have demonstrated this. The role of this committee is to ensure accountability and drive improvements”, he said.

He highlighted the importance of the NBTE’s role in technical education and urged the agency to foster better synergies among polytechnics and stakeholders. He also charged rectors to be proactive in introducing modern and relevant courses tailored to their environments.

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Professor Idris Bugaje, while presenting the NBTE’s 2024 budget performance and 2025 proposal, called for increased budgetary allocation to address manpower shortages. He noted that the agency, responsible for supervising over 700 institutions, currently operates with only 330 staff, which he described as grossly inadequate.

“For personnel, we need improvement. Similar agencies with fewer institutions and more funds have more staff. We need more hands to adequately supervise these institutions,” Bugaje stated.

On internally generated revenue (IGR), Bugaje explained that earnings primarily come from service charges during accreditation visits. He revealed that the agency’s IGR for the year amounted to just N25 million, describing it as “dismally low.”

He further noted that the agency’s capital performance for 2024 stood at 50%, with the remaining half of the budget yet to be released.

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“We need to introduce more contemporary programs and improve funding mechanisms to better meet the demands of technical education,” Bugaje added.

The session underscored the lawmakers’ commitment to ensuring transparency and efficiency in funding allocations while challenging agencies to enhance their performance to secure additional resources.

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