News
Petrol Pricing: Dangote trying to suppress competition, Petrol sellers allege

By Kayode Sanni-Arewa
Petroleum Products Retail outlets Owners Association of Nigeria (PETROAN) has accused Dangote Refinery of trying to stifle competitors in the downstream sector.
The marketers’ accusation follows Dangote Refinery’s claim that marketers are complaining of its petrol pricing because they want to import substandard products at cheaper rates.
The refinery had In a statement on Sunday disclosed that it sells petrol at N990 per litre in trucks and N960 per litre into ships. It says its pricing is in comparison with the international selling rate at the global market.
The disclosure by Dangote Refinery was after both PETROAN and the Independent Petroleum Marketers Association of Nigeria (IPMAN) had said that they can buy petrol at cheaper rates than Dangote rates.
The refinery In its reply said that only substandard products can be imported at cheaper rates than its rates.
But PETROAN in the latest in a statement signed by its spokesperson, Joseph Obele, on Monday, said the accusation of importing substandard product by Dangote is “his usual gimmick for maintaining monopoly.”
The marketers maintained that consumers get the best value for pricing when competition is at its peak, hence competition should be encouraged.
They added any market devoid of competition will be exploitative and strictly for profiteering.
PETROAN said it has concluded plans with her foreign refinery counterparts and financial partners to import the best quality of PMS and then sell far lesser than the present selling rate of PMS in Nigeria.
The statement reads: “Petroleum Products Retail outlets Owners Association of Nigeria PETROAN has successfully incorporated a Strategic Business unit called PETROL.
“PETROAN’s drive was solution-centric and patriotism following the pricing instability and turbulences in the downstream sector.
“The reformative and Transformational agendas of President is seen as inimical to advocates and beneficiaries of monopolistic market. The President Interventions was meant to liberalise the downstream sector by building an all inclusive market.
“Intensive or aggressive Competition in any market brings the best value for money exchange for a commodity. Consumers gets the best value for pricing when Competition is at it’s peak, hence Competition should be encouraged.
Contrarily to Competition, such a market will be exploitative and strictly for profiteering. The publication by Dangote refinery that PETROAN will import sub standard Petroleum product is not coming as a surprise to Stakeholders, because such is his usual gimmick for maintaining monopoly.
“The publication was coming after PETROAN and IPMAN announced plans to sell far lesser than the current Selling rate of PMS in Nigeria.
“It is important to set the records straight that PETROAN has never compared the price of Dangote PMS with any other on the fact that Dangote’s PMS price wasn’t known until this morning at the press release by Dangote Refinery.
“PETROAN has concluded plans with her foreign Refinery counterparts and financial partners to import the best quality of PMS and then sell far lesser than the present selling rate of PMS in Nigeria.
“We planned to enter the market before December 2024, pending the approval of our import permit license by the regulatory agency and access to foreign exchange from CBN at the the official rate.
“Before now Dangote Refinery has refused to make public her selling rate of PMS until IPMAN and PETROAN announced readiness to sell lesser.
“The rate of #990 as announced by Dangote refinery was inconsiderate base on the fact Dangote Refinery enjoyed massive concession for accessing foreign exchange during the construction of the refinery.
“The core determinant for setting price is consideration for cost of production then add a fair margin. But this wasn’t the case for the determinant of PMS price by Dangote refinery as they said” the parameter was comparison with the international selling rate at the global market.
“A nation that gave you a yet to be disclosed concession for foreign exchange which was highly criticised by financial expert’s, such a country Pricing template shouldn’t have been templated by the selling rate at the international market but rather it should have been cost of production plus fair margin.
“Goods from the China markets are not selling as high like goods from the America market because cost of production differs.
“The allegations that PETROAN will import inferior Products and saying also that an international company is trying to establish a PMS blending plant in Lagos are all strategies for Dangote Refinery to push others out of the market in view achieving monopoly for exploitation
Few months ago the CEO of Dangote Refinery said NNPC LTD was importing inferior Petroleum Products, that his own was far better than what NNPC LTD was selling to Marketers. In another press conference he said the Refinery at Malta was just a blending plant and not a Refinery. All the allegations are with the Objectives of closing the doors for other Operators so to enjoy monopoly.
“Evidences available showed that diesel (AGO) as a deregulated product was selling less than #800 in Nigeria market few weeks before the commencement of AGO production by Dangote Refinery, at the entrance of AGO market by Dangote refinery we witnessed a rapid surge above #1,000 as against the the perception of a “SALVAGING REFINERY”.
“PETROAN uses this medium to commend Mr President for his commitment towards the revamping of the nation owned refineries. It is on record that the ongoing rehabilitation project never suffers funding Under President Tinubu as it was earlier.
“We will still maintain our position by counselling that the Port Harcourt and Warri Refinery plant after rehabilitation should immediately be privatised and handled over to a reputable firm that has the Technical capability, managerial skills and financial strength in partnership with PETROAN and other critical Stakeholders.
“This will enable the Operators of the government owned refineries to withstand aggressive ballistic Competition that will be poise by the known beneficiaries of monopolistic market. Antecedents of the beneficiaries of Monopolistic market has showed numerous suffocating Business owners crashing out of other sectors for a sole operator in the past.
“Stakeholders concerns is a prayer that the process of the Privatisation should be transparent using the Indorama Petrochemicals as a model as against Maintenance Repairs And Operations (MRO) contract Business scholars have described the red ocean strategy as a situation when companies try to outperform their rivals to grab a greater share of existing demand.
“While Some other business scholars argued that it is detrimental to adopt the red ocean strategy with the motive for making your competitors quit in view of acquiring their facilities, because such market will be a Monopolistically orchestrated market in view of exploiting the people.
A balance market should be an all inclusive market players where the market leader is enjoying his lead, while the market challenger is servicing a certain degree of the consumers and the market followers are still surviving in the market at affordable price.
“Therefore, it is penitent that Federal Government should discourage and dismantle any attempt of monopoly in the downstream sector in view of crashing the current selling rate of PMS. The only catalyst to trigger PMS price reduction is by ushering in Competition and PETROAN will support the Federal government in achieving intensive competition in the sector.
“Most importantly, the Solution to the ongoing downstream sector Pricing turbulence and instability is for Mr President to midwife or delegate an all inclusive Stakeholders Meeting including DAPPMAN, MEMAN, PETROAN, IPMAN NUPENG and PENGASSAN.
“This meeting tends to get first hand valuable inputs from the industry
Players in view of having a final solution for PMS pricing in the downstream sector.”
(Channels TV: Text, Excluding Headline)
News
Reps Minority Caucus decries incessant tanker fire explosions, call for decisive actions to avert future occurrences

Following the twin tanker fire explosions which occurred last weekend in Ibadan, Oyo state, and Akwanga, Nasarawa state, the Minority Caucus in the House of Representatives expressed shock and sadness over the unfortunate incidents.
The Reps Minority Caucus made this disclosure in a statement jointly signed by leaders of the caucus: Rep. O.K Chinda
(Minority Leader) Rt. Hon. Dr. Ali Isa J.C (Minority Whip) Rt. Hon. Aliyu Madaki (Deputy Minority Leader) Rt. Hon. George Ozodinobi
(Deputy Minority Whip) on Monday stating that:
“Thankfully, no lives were lost at the two avoidable incidents. But it is painful that an unspecified number of vehicles, shops, motorcycles, and other properties worth hundreds of million naira were lost; particularly at the Ibadan incident.
“It is more worrisome that this is coming at a time that the economic hardship is approaching it’s zenith in Nigeria.
The Caucus recalls that after the January tanker fire explosion in Niger state, where lives of Nigerians and humongous properties were lost, it called on the Federal Government for necessary actions.
“Happily, the government resolved to ban fuel tankers with capacities exceeding 60,000 litres of petroleum motor spirit (popularly called petrol) from operating on Nigerian roads with effect from March 1, 2025.
“However, it is disheartening that, from reports across the country, many fuel tankers are yet to comply with the directive. More ludicrous is that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) responsible for enforcing the regulation is yet to comply with the presidential directive; about six weeks after the kick-off date.
Apparently disturbed about the frequency of tanker explosions across the country; almost becoming permanent fixtures on challenges bedeviling Nigeria, and the damaging effects on our people, the environment, and national development, the Caucus strongly calls for deliberate and decisive actions to stem the same by the bud.
” We call on the federal government for more pro-active measures that will not only avert future occurrences but stop tanker explosions in the country.
“From reports, the Ibadan incident happened as the driver encountered difficulties navigating deteriorated portions of the Toll Gate end of the Lagos-Ibadan expressway.
“Given the deplorable state of this road, and similar others, the Caucus urges the Federal Roads Maintenance Agency (FERMA) to carry out immediate rehabilitation works on these roads.
“The Caucus shall initiate, collaborate, and pursue every legislative action that will secure the safety of our people, and properties; which is the main purpose of government.
News
Don’t sabotage war on terrorism, NEYGA warns, lauds DSS

By Francesca Hangeior
The Northern Ethnic Youth Group Assembly (NEYGA) has cautioned against actions that could undermine Nigeria’s fight against terrorism, expressing concern over what it described as an emerging campaign to discredit the Department of State Services (DSS) and weaken public confidence in the agency.
In a statement issued Tuesday in Abuja, NEYGA spokesperson Ibrahim Dan-Musa commended the DSS for its vital role in ensuring national stability and combating banditry and terrorism.
Dan-Musa dismissed recent reports allegedly from unidentified local hunters accusing DSS operatives of misusing advanced telephone tracking technology, describing them as baseless and part of a smear campaign.
“The reports claimed that the technology, meant to aid in the rescue of kidnap victims, was instead being used by some operatives to extort money from criminals in exchange for concealing their locations.
“While we do not, and certainly cannot, speak officially for the DSS, we must state without fear of contradiction that such stories were fabricated to tarnish the agency’s image.
“We are not surprised that this falsehood is being spread by the same self-styled activist who falsely accused the DSS of abducting civil rights activist, Comrade Usman Okai Austin, to serve certain political interests. Comrade Austin has since disowned the said activist and publicly apologized for his unfounded allegations against the northern governor.”
The group also recalled how the same “activist,” in a viral video, falsely accused the DSS of invading the Federal High Court on the day the Economic and Financial Crimes Commission (EFCC) arraigned former Governor Yahaya Bello.
“It turned out that no DSS operative was anywhere near the court on the said day,” the group pointed out.
“We cannot thank President Bola Tinubu enough for appointing a thoroughbred professional like Mr. Tosin Ajayi as Director General of the DSS. From the agency’s remarkable exploits since Ajayi assumed office, we are proud to say that President Tinubu made an excellent choice.
“We in the North are particularly pleased with the relentless efforts of the DSS to make the North and the rest of Nigeria safer. Very recently, Governors Dauda Lawal of Zamfara and Ahmadu Fintiri of Adamawa publicly praised the DSS—not only for seizing large caches of arms and arresting or neutralizing scores of bandits and kidnappers, but also for securing the release of kidnapped Roman Catholic priests,” the group said.
“All of these achievements poke holes in the tissue of lies being peddled by the self-styled activist,” it stressed.
The group further highlighted an incident from 2018, when a court awarded ₦10 million in damages against the DSS over the 2016 accidental shooting in Bauchi of a businessman originally from Sokoto.
“No Director General agreed to pay the compensation until Tosin Ajayi came into office. Not only did he pay the ₦10 million, he doubled the amount. Nothing could be more humane. We deeply commend DG Ajayi for that,” the group said.
NEYGA also recalled recent public apologies issued by several media outlets for falsely reporting that the DSS stormed the Lagos State House of Assembly.
“The DSS’s acceptance of the apologies and decision to drop charges against the media houses is a sign of civility by the secret police, which we wholeheartedly commend,” the group added.
“We had imagined that, as a serial contestant for the office of President, this activist would be more circumspect, lie less, and demonstrate greater patriotism in the way he speaks about Nigeria—especially if, by some chance, he ends up occupying the nation’s highest office one day. Sadly, that has not been the case,” NEYGA said.
“We commend the maturity of the DSS leadership for enduring the barrage of lies constantly thrown at it by these so-called activists. Nigerians have seen through their antics and know they do not mean well for our beloved country.
“We urge the DSS not to be distracted by these merchants of falsehood and to remain steadfast on the path of making Nigeria safer,” the group said.
News
Insecurity: PDP raises alarm over ceaseless killings in Nigeria

* Urges Aiyedatiwa to be proactive in his duties
By Francesca Hangeior
The Peoples Democratic Party (PDP) in Ondo State has urged Gov. Lucky Aiyedatiwa to be alive to his duties of safeguarding the lives and property of residents of the state.
The party’s Director of Media and Publicity in the state, Mr Leye Igbabo, stated this in a statement issued on Tuesday in Akure.
Igbabo said that the party was alarmed by the alleged ceaseless killings of hapless residents of the state by gunmen.
He said that victims of such killings were lawfully engaging in their daily activities needed to bring food to their tables.
“The party cannot, in all honesty, find reasons why such assailants could operate without any form of resistance for months running, in a state where there is said to be a valid government in place.
“Gov. Aiyedatiwa has indeed failed in his constitutional duty as enshrined in Section 14(2)(b) of the 1999 Constitution (as amended), in that he can no longer secure and protect lives and property of citizens of Ondo State.
“It is heart-wrenching to note that in less than one month, about 50 persons have been gruesomely massacred in various settlements within the state,” he said.
Igbabo expressed concerned that no arrest or prosecution had been made in the wake of these incidents.
He said that the party had been wondering if a government still exists in the state in the face of what he described as unprovoked and unrestrained killings.
“These killings are one too many and indicative of helplessness, hopelessness and huge compromise of those in the corridor of power in Ondo State,” he stated.
Igbabo urged President Bola Tinubu to urgently address the situation, as it appeared that the state government was incapacitated in tackling the menace.
-
News6 hours ago
SHOCKING! One month after giving birth, woman discovers another baby in her womb
-
News12 hours ago
Peter Obi speaks as Benue govt. blocks humanitarian visit
-
News6 hours ago
Angry investors raid CBEX office, loot assets in Ibadan after digital Platform crash
-
News6 hours ago
Tears, anguish as Plateau Community buries 51 killed by bandits
-
News13 hours ago
FUOYE VC suspended over sexual harassment allegations
-
News6 hours ago
‘Not something I’d wish on anyone’ — Melinda Gates opens up on divorce
-
Politics6 hours ago
Igbo Youths Set To Mobilize 5 Million Man-March In Support Of Tinubu, Kalu
-
News13 hours ago
Power Generation Companies Express Concern Over N4 Trillion Unpaid debts, Warn Imminent Shutdown