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

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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.

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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.

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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.

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“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.

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“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.

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“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.

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“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.

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“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.

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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

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Players in view of having a final solution for PMS pricing in the downstream sector.”

(Channels TV: Text, Excluding Headline)

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Reflections of Hon. EJ Agbonayima on Nation Building

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Hon. EJ Agbonayinma has consistently championed the cause of nation-building, emphasizing unity, good governance, and sustainable development as key pillars for a prosperous Nigeria. As a dedicated leader and public servant, he has used his platform to advocate for policies that promote economic growth, social cohesion, and political stability.

One of his core messages is the need for inclusivity in governance, ensuring that every Nigerian, regardless of background or status, has a voice in shaping the nation’s future. He has also been vocal about the importance of accountability and transparency in leadership, urging public officials to uphold integrity and serve the people selflessly.

Hon. Agbonayinma believes that youth empowerment is critical to national development. Through various initiatives, he has encouraged investments in education, skill development, and entrepreneurship, enabling young Nigerians to contribute meaningfully to the economy. His advocacy extends to security reforms, calling for collaborative efforts between government agencies and communities to address insecurity and foster peace.

As a statesman, he continuously stresses the importance of national unity, urging citizens to rise above ethnic and religious divides to build a stronger, more resilient Nigeria. His vision for the country aligns with the ideals of democracy, justice, and economic progress, making him a true advocate for nation-building.

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Through his leadership and unwavering commitment, Hon. EJ Agbonayinma remains a key voice in shaping policies that will secure a better future for generations to come.

Rooftop News.NG

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Naira Rebounces Against Dollar – Saturday, May 10, 2025

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By Kayode Sanni-Arewa

On Saturday, May 10, 2025, the naira is exchanging for ₦1,618 to 1 US dollar at the parallel market (black market) in Nigeria.
This reflects the current rate at which individuals are trading dollars for naira outside of official financial institutions.

This means that for every one dollar, you can get the equivalent in naira of ₦1,618 on May 10, 2025, showing a slight improvement compared to the previous day, indicating a bit more relief for the naira against the dollar.

Saturday, May 10, 2025, records a minor upward movement in the exchange rate, suggesting a brief gain in stability for the local currency among those trading in foreign exchange.

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The black market rate represents the value at which individuals can trade their dollars for naira outside official exchange channels, where the currency’s value is largely driven by supply and demand dynamics rather than government regulation.

Note that the Black Market Exchange rate is typically higher than the official exchange rate because it is not regulated by the government and reflects a more immediate, fluctuating market response.

Today’s exchange rate has slightly improved compared to yesterday, Friday, May 9, when the naira exchanged at ₦1,627 per dollar. (This means the naira gained a bit of value in the past 24 hours, possibly due to increased dollar availability or improved forex supply conditions.)

The value of a country’s currency is determined by aggregate supply and demand, influenced by factors such as national interest rates, inflation, capital flow, and the overall money supply.

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These forces, both internal and external, affect the strength of a nation’s currency and contribute to exchange rate fluctuations. The most common method to assess a currency’s value is through exchange rates. The two main exchange rate systems are the fixed rate and the floating rate systems, with the parallel market rate offering a real-time reflection of currency trends.

Investors and market participants closely monitor parallel market rates for a more immediate and practical reflection of currency trends, often making it a reliable indicator of short-term shifts in economic conditions

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How doctor stole one of my twins during birth, Abuja housewife narrates nasty experience

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By Kayode Sanni-Arewa

When she was told sometime in April 2021,during her ante-natal registration at Divine Rain Maternity Clinic, that she was carrying a twin pregnancy,32-year old Mrs Eunice Bright Ekwok’s joy knew no bounds.

For,she only paused momentarily to contemplate how she would be able to cope in raising the expectant babies with her husband, Bartholomew Bright Ekwok, who had no stable income job.

Since she has been told her fate,Mrs Ekwok demanded for a copy of the scan result to take home but the doctor,Timothy Zeje blatantly turned it down, He told her the rule in the hospital forbids that, insisted that the result can only be put in her file in the hospital.

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She got home and disclosed what she had been told in the hospital by the doctor to her husband. At first,the husband wanted evidence for what he had just heard and so,he asked the wife to present the scan result. When she could not present it and instead told her husband the rule of the hospital, the 34-year old wanted to rush to the private medical facility to meet the doctor for an explanation. But his wife’s insistence that it wasn’t necessary to pursue the scan result made him suspend his action. They later prayed about the doctor’s disclosure and resigned to fate. With this,Mrs Ekwok started preparing herself towards the day she would give birth.

Each time she went for a follow-up check at the hospital, located at Sauka area of Abuja,the expectant twin mother would engage the medical doctor of how she was happy for the news he broke to her earlier about the status of her pregnancy. She had no inclination that she would unknowingly share her twins with the doctor who had been married for years without a child in the union. Ahead of hospital plans,he told Mrs Ekwok that her wife was pregnant and she could have conceived almost the same time with her.

When the pregnancy was due,Mrs Ekwok gave birth in the hospital through a cesarean section,though in an unconscious state. Neither the husband nor any of her relatives was in the labour room during the session,it was only the doctor and the hospital’s nurses.

The middle age woman,narrating the heart-rending experience,said some hours after she regained consciousness,she was only handed one baby instead of two since she was carrying a twin pregnancy. When she requested to see her other child,she was informed by the doctor that the other twin didn’t survive birth.

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“I told the doctor that I would like just to see how the dead child look like or his bones but he refused, They told me that my baby is dead and scattered. Okay, where are the pieces and where are the bones? I asked but they couldn’t give me an explanation. Instead, they were saying why would I not be grateful for the one that survived birth and rather be asking for another baby when we were a poor couple and could barely take care of the one we have. We let go the issue at the time,”she said,sobbing.

When Mrs Ekwok went back to the hospital for check on there wound that arose from the cesarean section, she requested to see her file but she was told her File had since been burnt even as she was seeing a heap of patients’ files in one of the offices.

“When I told them I wanted to see where it was burnt and the ashes since they claimed it was just few days they did it, they asked me to go behind the building and when I got there, there was nothing suggesting that they had burnt anything. I returned to ask them why should it be only my file they would burn out of the many others in tne hospital? They couldn’t say anything.

As God would intervene for the couple to see one of their alleged lost twin sons,on one faithful day she had gone to a nearby general hospital for a routine immunization,Mrs Ekwok met her alleged son in someone’s care.

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She explained that as she made to return home after being attended to, she saw the wife of the medical doctor of the hospital she gave birth coming into the facility for immunization. When she approached her for greeting,Mrs Ekwok saw that the baby the doctor’s brought was a spitting semblance of her own baby-same dreadlock and everything! She couldn’t identify between her child and the one the doctor’s wife brought in for immunization except how they were dressed.

Shocked, Mrs Ekwok,paused and reflected. She remembered that she had delivered of her child in a hospital owned by the woman’s husband. She also did not forget that she had twin pregnancy but saw only one baby after delivery. Although she was told the other child ‘scattered ‘ during birth. She became curious to know more about the child in the hand of the doctor’s wife.

“That fateful day, I went for immunization at AMAC Hospital at Besan. After they gave my baby the injection, I wanted to go home,so I was trying to put my baby on my back and immediately saw the wife of the doctor where I gave birth coming into the hospital with one of her brothers. They were bringing their children for immunization. When I saw the baby they brought, I was like, what is happening here?

The baby in my hand looked exactly like the one in their hand. I said ‘I’m so confused.’ I didn’t even know what to do again,so I greeted them and she sat down. And since it was a heat period, I asked her to remove the baby’s cap because the heat was too much. She removed the cap,I became confused the more because of the spitting semblance of the child and my baby. They have same leg, same face, same dada (dreadlock, same everything. I said ‘what is going on here’ to myself. I now concluded that my earlier intuition that my twin baby was taken away at birth and not dead as told by the doctor,”she narrated.

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But instead of raising alarm alerting people at the immunization facility to her claims that she had found her missing child, Mrs Ekwok took to a Plan B option. She would find out the home of the couple in possession of her ‘twin baby’ and become a regular visitor there.

How would she do it perfectly? She confided in her husband and they hatched a plan. Following this, she went tto the doctor’s home with two of her wrappers (clothes),pretending that things had not been fine with them financially and begged that they buy the material from her as their way of assisting her family. Mrs Ekwok became a regular visitor to the doctor’s house unknown to her host that her guest was on a mission to uncover the truth about their supposed baby.

But this was when peace began to elude the doorstep of the Ekwoks,because in several attempts to find out more about the child’s origin, she and her husband have been taken to police stations and detained,taken to court and sent to prison and even openly tortured and accused of attempting to steal a child.

In all the places they have been taken to,they continued to lay claim to the parenthood of the child, insisting on conduct of a DNA to prove their case but the police allegedly, through the influence of the doctor and his wife,have blatantly turned down their request and instead, been trying to prosecute them in court for theft.

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“Insisting that the child who is over two years now is theirs,the couple,called on authorities and the public to intervene so their request for a DNA can be conducted for the child in contention.

Contacted to speak on allegation by Mrs Ekwok, the accused, the doctor refused, explaining that his action was because the case was already being handled by the police, adding that it had been taken to court.

He,however, directed Vanguard to the Force Intelligence Department Abuja for more details.

“The case is already being handled by the police and it has been taken to court. If you have to investigate more about the matter,the best place to go is the Force CID,”he said.

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The Nigerian Medical Association, NMA,an umbrella body of practicing medical practitioners said even as the allegation was raised over a year ago, it had not been formally brought to its attention.

Spokesperson of the Abuja branch of NMA, Dr Bature Mannir,told Vanguard that he had just heard about it ,asking for time to confirm from the chairmen if such a complaint had been brought to his table. But at the time of filing this report, he was yet to respond.

Think Cross River calls for justice,vows no son of the state ‘ll be hijacked by anybody

Reacting to the development, Think Cross River, an initiative that aims to forster unity,responsibility and collective ownership among Cross Riverians, has called for justice to prevail.

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The group vowed to pursue the case to its logical end ,ensuring that the child was reclaimed by his alleged biological parents.
The initiator of Think Cross River, Papa Dom Cklamz Enamhe, told Vanguard that no child of the state’s origin would be allowed to be taken away by anybody under any guise.

Enamhe, who is also the convener of Who is Who platform of Northern Cross River,said:” Mr. Bartholomew Bright-Ekwok is from Cross River State. We just got to know about the story and we have moved in.”

The elder statesman said:”We will not allow any child of Cross River extraction go out. We will not stand and watch anybody intimidate any Cross Riverian. I have briefed the governor and he is on his foot on this. The senators from Cross River State extraction are all on the same case.

“No one child of Cross River extraction will be taken anywhere. We will get back the child. We will have DNA. We will go to court. We will do the right things. We, as a community, have resolved that this matter will be sorted out properly.

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“Our child will return to the immediate family and will be back home. Poverty is not a crime. No Nigerian has a right to intimidate anybody because he is richer or because by any means, he is a professional.

“If I come to your hospital to give birth, I didn’t commit a crime. If you say one of the twins was missing or dead, where are the features? And we are taking two years and 11 months and you are still ignoring just a DNA test? We will afford it. We can afford it.
We will go through the processes.

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