News
Marketers plan to sell petrol below N1,028/litre Dangote price
Oil marketers, on Friday, revealed that the price of Premium Motor Spirit, popularly called petrol, produced by the Dangote Petroleum Refinery was between N1,015 and N1,028/litre depending on the quantity being purchased.
Based on this, the dealers vowed to import the commodity and sell it below the Dangote refinery price as well as the price being sold by the Nigerian National Petroleum Company Limited.
Data released by the Major Energies Marketers Association of Nigeria on Thursday showed that the landing cost of petrol was N978.01/litre as of October 31, 2024.
It stated that the landing cost of diesel was N1,069.97/litre, while that of aviation fuel was put at N1,119.67/litre.
The landing cost of these white products is the unit price of the imported commodities on landing on Nigeria’s shores.
Since the Dangote refinery commenced the release of refined petroleum products domestically, it had refused to announce the cost of the commodity despite several demands for the price.
However, a major marketer, who spoke to one of our correspondents on condition of anonymity due to lack of authorisation to speak on the matter, confirmed that the cost of petrol from the Dangote refinery was higher than that of imported PMS.
According to the official, the refinery currently sells to oil marketers making bulk purchase at N1,015/litre and small buyers at N1,028/litre.
The major marketer also disclosed that three cargoes carrying petroleum products recently arrived and had been discharged at seaports along the nation’s borders.
“Dangote is selling to bulk buyers at N1,015/litre, but to marketers who are not buying in bulk, the refinery is selling at N1,028/litre.
“But imported PMS is cheaper than the cost of Dangote’ own, and that is why he is doing all he can to ensure that the government stops the importation of fuel,” the dealer stated.
Commenting on the development, marketers under the aegis of the Petroleum Retail Outlet Owners Association of Nigeria vowed that they would sell imported petrol below the price offered by the Dangote refinery.
The association said its PMS would also be cheaper than that of the NNPCL.
The PETROAN Publicity Secretary, Dr Joseph Obele, however, told Saturday PUNCH that the price of Dangote PMS might be higher because the refinery was still producing with the imported crude it bought at a premium.
He said the association had struck deals with some international fuel suppliers to import PMS at a good price, adding that the product would arrive in Nigeria at a price around N800/litre.
“PETROAN is an association, but we have incorporated our limited liability company called PETROAN Limited. We have got the licence from the Corporate Affairs Commission, and we have applied to the NMDPRA to licence us and give us authority to import. So, as we get that authority to import, I think we will import from the best market.
“And it is good also for the general public to understand that the landing costs in all the nations are not the same. PETROAN has got a partner from the international market, that the product will arrive here at close to N800/litre. So, since PETROAN has the best value for Nigerian citizens, we are calling on the regulatory agency to release our authority to import in no distant time so our first stock will come in.
“And we assure you that PETROAN will sell far less than Dangote. It will sell at prices far less than NNPC. Right now, NNPC is selling to us at N1,040/litre. PETROAN will not sell like that, because we have negotiated. And all our partners and foreign counterparts are on standby to make sure we give Nigerians the best value,” Obele said.
The associations spokesperson stated that he would not be able to disclose the exact quantity to be imported, but stressed that PMS imported by PETROAN would be cheaper.
Obele explained that Dangote was only selling to NNPC directly, while NNPC sold to marketers.
“I am telling you that that the position of NNPC as a middleman is still active till tomorrow. NNPC has refused to announce how much Dangote is giving. Dangote has also refused to announce how much he is selling to NNPC. So, I think there is an agreement that they don’t announce it.
“All we know is how much NNPC is selling it to us. However, the transaction between the two is not in the public domain. NNPC has refused to mention it. And the general public has said, please make these things open,” he said.
Speaking on the landing cost of N978/litre, he emphasised that the landing cost differs from country to country.
“N978 to N1,000, that’s the landing cost. It was about N1,100 as of last month. But because of the drop in the selling price of crude oil in the international market, PMS has witnessed a downward review in the international market too. So, I think we should also witness a downward review,“ he said.
When reminded that the NNPC just jerked up its price, Obele responded, “No, the issue we have is that the only functional refinery we have is the Dangote refinery. And Dangote has announced to everyone who wants to hear that the crude oil stock he is still working on was the one he bought from the international market; that the naira-for-crude stock, he has not started refining that. So, we don’t expect a downward review from someone who bought old stock when crude oil was selling for $80 and $78 per barrel.
“So, now that it has dropped to $72, we are not expecting to review the price automatically. Because you can put it to us that it is still trading with the old stock. But recently, the price of crude oil has dropped. We hope that whoever is buying the new stock of this new trade should review the price downward. But if what Dangote has used to refine the stock available is the old stock got when crude oil was still selling at $80 per barrel, we don’t expect him to review downward.
“Until the refinery commences production with the stock it just received last week in naira, that’s when people can criticise it. But at the moment, I think the selling rate reflects the former cost of crude oil.”
Meanwhile, the National Assistant Secretary of the Independent Petroleum Marketers Association of Nigeria, Yakubu Suleiman, also stated that the cost of Dangote petrol was higher than the imported commodity at the moment.
Suleiman, speaking in an interview with Arise TV, on Friday, stated that the price of fuel from Dangote refinery was higher than the cost of commodities imported.
According to him, the price of petrol at Dangote refinery was set at around N995 and higher than other sources.
Suleiman also accused the Chief Executive Officer of the Dangote refinery, Aliko Dangote, of sidelining key stakeholders in its fuel supply strategy, claiming that limited engagement with independent marketers had hampered their ability to lift petrol from the facility.
When contacted, the Chief Corporate Communications Officer of Dangote Group, Tony Chiejina, said the figures being bandied were not correct.
He described reports on Dangote petrol price as fake news, wondering where they emanated from.
“This is fake news. People are just posting what they like,“ he said.
Chiejina, however, declined to give the actual price.
By Gloria Ikibah
The House of Representatives has given a 24-hour ultimatum to the Controller-General of the Federal Fire Service, Jaji Abdulganiyu, demanding his personal appearance over the recent fire truck accident in Abuja that left three people dead and several others injured.
This directive was issued on Tuesday by the Minority Whip, Rep. Ali Isah, following the agency’s failure to honour an earlier invitation to address the matter.
Naijablitznews.com recalled the tragic incident occurred on Friday evening at ECOWAS Junction, Wuse 2, during an emergency operation at Avenue Plaza, Banex, where a fire truck reportedly lost control, claiming the lives of three siblings.
Rep. Isah expressed dismay that despite graphic videos circulating online, the Fire Service had not issued any public statement or shown presence at the scene. He called on the agency to visit the bereaved family without delay, cover all medical expenses of the victims receiving treatment, and arrange adequate compensation.
He also demanded that the Fire Service take concrete steps to prevent such an incident from happening again.
Earlier in his brief, a top-ranking officer in charge of Administration and Supplies at the Fire Service, Samuel Olumode, admitted the agency deeply regretted the fatal incident in Abuja.
He stated that while the Controller-General couldn’t appear in person due to pressing state duties, he had given clear instructions for a team, including Olumode himself, to represent the service at the hearing.
Olumode eemphasised hat no one takes the loss of life lightly, especially when such a loss is irreversible. He attributed the tragic occurrence to the urgent and chaotic nature of the firefighting operation that night.
According to him, the driver of the fire truck did not stop at the scene immediately after the crash, fearing possible attacks from an angry crowd, something fire crews reportedly face often. However, the driver later turned himself in at the nearest police station and has remained in custody since.
Olumode also disclosed that the Fire Service, under the leadership of the CG, had already begun reaching out to those affected. Visits had been made to the victims’ family and the injured in hospital. Fire officers were also present at the funeral held at the National Mosque and the burial that followed.
He described the moment as extremely difficult for the bereaved family and confirmed that another team had visited the boys’ mother to console her personally.
Olumode added that the Fire Service had made a public apology, which was aired and published by several leading media outlets across the country.
By Francesca Hangeior
The move to transform YabaTech in Lagos State to a University of Technology and Vocational Studies has got a boost as a Bill to this effect has scaled second reading in the Senate.
After being read the second time yesterday, the Deputy President of the Senate, Senator Barau Jibrin, APC, Kano North, who presided at Tuesday’s plenary session, thereafter referred it to the Committee on Tertiary Education and TETFUND for further legislative action and report back in four weeks.
It is titled, a Bill for an Act to provide for the Establishment of the Yaba Federal University of Technology and Vocational Studies Yaba, Lagos State and to make comprehensive provisions for its due management and administration and for other related matters, 2025 (SB. 738).
In his lead debate on the general principles of the bill, the Senate leader, Senator Opeyemi Bamidele, APC, Ekiti Centra,l said that the Bill essentially seeks to transform and upgrade the YabaTech to Yaba Federal University of Technology and Vocational Studies, Yaba, Lagos State, which has already been done via a presidential fiat.
Bamidele said, “This Bill seeks to establish Yaba Federal University of Technology and Vocational Studies Yaba, Lagos State. The Bill was read the first time in this Hallowed Chamber on Tuesday, 11th March, 2025.
“The Bill essentially seeks to transform and upgrade the YabaTech to Yaba Federal University of Technology and Vocational Studies, Yaba, Lagos State, which has already been done via a presidential fiat.
“Nigeria’s steady march towards education for all in the shortest possible time has taken a giant leap with the introduction of this Bill for an Act to provide for the establishment of this University.
“I am personally excited by the prospect of transforming this Polytechnic to a University of Technology and Vocational Studies as it will motivate both students and academic staff, just as it will upgrade its facilities and enhance its capability to achieve its objectives.
Similarly, The New University will encourage the advancement of learning and hold out to all persons without distinction of race, creed, sex or political conviction the opportunity of acquiring a higher and liberal education. It will also do the following: Provide courses of instruction and other facilities for the pursuit of learning in all its branches, and to make those facilities available on proper terms to such persons as are equipped to benefit from them; Encourage and promote scholarship and conduct research in all fields of learning with emphasis on technical education”
According to the Senate leader, the new school will m”Relate its activities to the social, cultural and economic needs of the people of Nigeria; and Undertake any other activities appropriate for a university of the highest standards.
“If Nigeria, as planned, should aim to become one of the world’s twenty leading economies of the world in this 215t century, we must be ready to adjust and position our educational institutions so that its products are geared towards technological challenges inherent in such projections. Our educational authorities are moving to revamp our institutions for these objectives.
Yaba Federal University of Technology and Vocational Studies, when enacted by the National Assembly will have power to establish such campuses, colleges, faculties, institutes, schools, extra-mural departments and other teaching and research units within the University as may from time to time seem necessary or desirable subject to the approval of the National Universities Commission.
“To ensure continuity in the administration of the university, all property held by or on behalf of the Yaba Polytechnic shall be vested in the University and be held by it for the purposes of the University. Notably, all staff of the Polytechnic are hereby transferred to the University and previous service in the Polytechnic shall count as service for the purposes of any pension payable by the University.
” The institution is prepared to undertake the educational and other modifications that are a natural corollary of transforming to a university. The institution is also prepared to remains true to its core mandate of producing well-trained manpower capable of driving the technological, management and business goals of the nation.
“In this regard, it will seek to emulate the Massachusetts Institute of Technology (MIT) which has built upon a tradition of distinction to become one of the world’s foremost educational institutions.
By Francesca Hangeior
A human rights lawyer and counsel for the Indigenous People of Biafra, Ifeanyi Ejiofor, has faulted the Amnesty International report on Okigwe killings, describing it as “hasty and full of inconsistencies”, just as he called for a thorough, impartial, and evidence-based investigation.
Recall that some yet-to-be-identified armed men reportedly ambushed and killed some travellers along the Okigwe Road in Imo State, some days ago.
The alleged killings have triggered mixed reactions, with a call for a thorough investigation to unravel the perpetrators.
But in a statement released on Tuesday, Ejiofor said the quick attribution of the killings to IPOB, without exhaustive verification, raises serious concerns about the integrity and neutrality of the Amnesty International report.
According to him, this approach does not align with the expected standards of a globally respected human rights organisation.
He said while he condemned the killing of the innocent travellers by yet-to-be-identified “heartless” perpetrators, he called on Nigerian security agencies to promptly and meticulously investigate the heinous crimes and ensure that those responsible are identified, apprehended, and prosecuted according to the law.
The statement read, “In light of the recent hasty statement issued by Amnesty International (Nigeria) on the Okigwe killings, it is imperative to underscore the need for a thorough, impartial, and evidence-based investigation.
“The quick attribution of the killings to IPOB, without exhaustive verification, raises serious concerns about the integrity and neutrality of the report.
“It must be unequivocally stated that no individual or authority, regardless of their constitutional powers, is permitted to take another’s life outside the due process enshrined in Section 33 of the 1999 Constitution of the Federal Republic of Nigeria (as amended). The sanctity of human life must remain inviolable.
“I call on Nigeria’s security agencies to promptly and meticulously investigate these heinous crimes and ensure that those responsible are identified, apprehended, and prosecuted according to the law.
“The security agencies should stop paying lip service as they often do, and actually conduct a thorough investigation into these dastardly and wanton killings.”
The human rights lawyer said upon a careful review of Amnesty International Nigeria’s statement, several inconsistencies and troubling lapses were observed, such as “questionable sources of casualty figures, premature attribution of blame, potential conflict of interest and ongoing threats in the region”.
“Amnesty International Nigeria reported specific casualty figures without disclosing any independent verification sources.
“This departs from their well-established protocol, which emphasises independent investigations often taking days or weeks before conclusions are drawn.
“While the police acknowledged the attack, they refrained from confirming exact casualty numbers or the real identity of the attackers. Amnesty’s conclusive link to IPOB, therefore, appears speculative and unsubstantiated.
“Concerns have also been raised about the neutrality of the Country Director of Amnesty International Nigeria, who use to hold a political appointment as Special Assistant to the Governor of Yobe State. This dual role casts a shadow over the objectivity of the organisation’s reporting.
“It is a well-known fact that remnants of armed elements loyal to Simon Ekpa continue to destabilise communities across the South-East. While this remains a security concern demanding urgent state intervention, it should not justify rushed attributions of blame without due diligence,” he added.
According to him, national and international stakeholders must demand a credible, unbiased, and fact-driven investigation into the Okigwe killings.
He insisted that the loss of innocent lives must not be politicised or sensationalised, adding that justice must not only be done but must be seen to be done, both to honour the victims and to safeguard the rule of law in our democracy.
“Only the truth, firmly established through rigorous investigation, can pave the path to justice and lasting peace,” he said.
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