Connect with us

News

Marketers drop petrol prices below Dangote’s cost

Published

on

Fuel pump
Spread the love

Importers have dropped petrol prices below the price offered by the Dangote Petroleum Refinery, sparking a new wave of competition. This comes amid a call by the President of the Dangote Group, Alhaji Aliko Dangote, for the Federal Government to ban fuel importation.

Findings by our correspondent showed that some filling stations now sell petrol below N860 per litre, while Dangote partners, such as MRS, Heyden, and others, sell at N865 or N875 in Lagos and Ogun States.

A filling station named SGR in Ogun State reduced its price to N847 per litre as of Tuesday. Marketers confirmed to The PUNCH that most importers have reduced their ex-depot petrol prices below that of the Dangote refinery.

As of Tuesday, it was learnt that Dangote refinery was selling petrol at N820 per litre while some depots sold the product at N815 per litre. According to Petroleumprice.ng, Aiteo, Menj and others put their prices at N815/litre as of Tuesday.

Our correspondent learnt that the importers were making efforts to remain in business through competitive pricing. Many had previously complained of recording losses when the 650,000-barrels-per-day capacity Dangote refinery began implementing constant price cuts earlier this year.

Maduka College Advert

The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, confirmed the ongoing downward price review by the importers.

“Depot owners are dropping their petrol prices. Some of them are selling N815, some are selling N817, while Dangote is selling N820. NNPC is still selling at N825; it has not dropped its prices yet,” Ukadike disclosed.

He described this as the beauty of market liberalisation, saying President Bola Tinubu should not heed calls to ban fuel importation.

“This is the beauty of the liberalisation of the market. That is why we opined that the President should not ban anybody from importing petroleum products. Nobody should be stopped from bringing in petroleum products. That is the beauty of opening up the market. Implementation and local refining will checkmate unfair pricing. As an indigenous country, you must refine to ensure that you have the best price,” Ukadike said.

On claims that toxic and substandard fuels are being imported into the country, the IPMAN spokesman said the Nigerian Midstream and Downstream Petroleum Regulatory Authority is in place to check substandard fuels.

Today, it appears that importers are daring Dangote by leading the charge in slashing petrol prices, a practice Dangote recently described as unfair competition. According to Dangote, the importation of fuel into Nigeria is killing local refining and discouraging further investments in the sector and even the economy.

To remain viable, he urged governments across Africa to take deliberate steps as the United States, Canada, and the European Union have done to protect domestic producers from what he called unfair competition.

Dangote did not mince words when he said that the Nigeria First policy announced by Tinubu should apply to the petroleum products sector. “The Nigeria First policy announced by His Excellency, President Bola Tinubu, should apply to the petroleum product sector and all other sectors,” he stated.

This request by Dangote seeks to place a ban on the importation of petrol, diesel, and other products being produced locally. He argued that local refiners were finding it difficult to sell their products because of what he called dumping. The billionaire businessman alleged that importers were dumping toxic fuel that would never be allowed in Europe.

“And to make matters worse, we are now facing increased dumping of cheap, often toxic petroleum products, some of which are blended to substandard levels that would never be allowed in Europe or North America,” he said.

Dangote mentioned that some importers bring subsidised fuel or crude oil from Russia into Nigeria. This, he said, affects local pricing, forcing refiners to lower their prices below production cost.

“Due to the price caps on the Russian petroleum products, discounted petroleum products produced in Russia or with discounted Russian crude find their way to Africa, severely undercutting our local production, which is based on full crude pricing. This has created an unlevel playing field in most African countries. Petrol and diesel are sold for about a dollar net of taxes.

“In Nigeria, due to this unfair competition, this price is just about 60 cents, even cheaper than Saudi Arabia, which produces and refines its own oil. This is due to the fact that we are having too much dumping. To remain viable, we urge the governments across Africa to take deliberate steps as the United States, Canada, and the European Union have done to protect domestic producers from unfair competition,” he stated at a recent event organised by the Nigerian Upstream Petroleum Regulatory Authority in Abuja.

However, marketers disagreed with Dangote, urging the Federal Government not to consider adding petroleum products to the list of items banned from importation under the ‘Nigeria First’ policy. (PUNCH)

News

2027: Mbah Leads the Charge as Enugu APC Unveils Campaign Council

Published

on

Enugu Governor, Dr Peter Mbah
Spread the love

…Sen. Nnamani, Nwobodo, Dr. Nnamani, Chime, Ugwuanyi, Prof. Nnaji, Arthur Eze, Frank Nweke, Madueke, others get advisory roles

…Udeh, Nwoye, Utazi, Egumgbe, Ben Collins Ndu, Onyia, others head 51 Directorates

…Council to be inaugurated on Tuesday

The Enugu State Chapter of the All Progressives Congress (APC), on Monday, unveiled the party’s Campaign Council ahead of the 2027 general elections.

The Campaign Council, comprising 51 Directorates, is chaired by the Governor of the state, Dr. Peter Mbah, while the Deputy Governor, Barr. Ifeanyi Ossai; Deputy National Chairman, APC (South); Speaker, Enugu State House of Assembly, Hon. Uchenna Ugwu; and the Chairman of the party in the state, Dr. Martin Chukwunweike, are Vice Chairmen.

The list signed by Chukwunweike and the Secretary of Enugu APC, Hon. Chukwudi Nnadozie, also has Chief Charlie Mbah as the Director-General of the Campaign Organisation and Dr. Eric Oluedo as the Secretary-General.

Deacon Okey Ogbodo, Dr. Dan Shere, and Hon. S.K.E. Udeh-Okoye are Deputy Campaign DGs for Enugu East Senatorial District, Enugu North Senatorial District, and Enugu West Senatorial District, respectively.

Barr. Steve Oruruo is the Campaign Spokesperson and Director of the Public Communication Committee, with Dr. Austin Okolie as co-spokesperson and Dr. Malachy Agbo as Secretary.

Maduka College Advert

Mazi Uche Anichukwu and Dan Nwomeh, both drawn from the Governor’s media team, head the Directorate of New Media and Strategic Communication and the Directorate of Mainstream Media, respectively. Dr. Collins Ogbu is the Secretary of the former, while Dr. Reuben Onyishi is the Secretary of the latter.

Barr. Victor Udeh leads the Administration Directorate, while Dr. Ben Nwoye and Arc. Uche Nwatu are the Director and Co-Director of the Fundraising Committee, respectively.

Former Chief of the Naval Staff, Vice Admiral Ikechukwu Ogalla (Rtd.), chairs the Security Directorate, while former Inspector General of Police, Ogbono Onovo (Rtd.), is the Secretary.

The Minister of Innovation, Science and Technology is in charge of the Directorate of Government Appointees Coordination (Federal and State), with Prof. Chidiebere Onyia as Secretary, while former Speaker of the Enugu State House of Assembly, Rt. Hon. Eugene Odoh, heads Inter-Party Affairs.

Senator Osita Ngwu, Senator Ikeje Asogwa, and Senator Kelvin Chukwu are Coordinators of the Campaign Council in Enugu West, Enugu North, and Enugu East, respectively.

Meanwhile, in their co-signed statement, Chukwunweike and Nnadozie said the size of the Campaign Council was a reflection of “the conviction that every community, ward, local government area, professional group, support organisation, youth body, women’s group, elder, party faithful and person of goodwill must be seen, heard and meaningfully engaged.”

“Appointment into the campaign structure is therefore not merely an honour; it is a call to duty, accountability and measurable contribution,” they stated.

The Council will be inaugurated at the International Conference Centre, Enugu on Tuesday, October 27, 2026.

All members of the Campaign Council are to be seated before 3pm.

CLICK LINK BELOW TO SEE FULL LIST:

APC ENUGU CAMPAIGN COUNCIL COMPOSITION-1

Continue Reading

News

Terrorists Abduct Sunday Igboho’s Iru Ekun Security Group Members in Kwara

Published

on

Spread the love

Tension has gripped parts of Kwara State following the reported abduction of members of the Iru Ekun Security Group, a security outfit spearheaded by Yoruba nation agitator Sunday Adeyemo, popularly known as Sunday Igboho.

The assailants reportedly abducted the security operatives and forced them to renounce their activities of protecting communities in the state.

According to reports, the abducted members pleaded for their release and were compelled to renounce their community protection activities.

The Iru Ekun Security Group was established to protect Yoruba communities in Kwara State against terrorist attacks and kidnappings.

The reported abduction has sparked fear among residents who rely on the group for protection against insecurity in their communities.

Maduka College Advert

As of the time of filing this report, Igboho had yet to issue a statement on the reported abduction of the security group members.

Continue Reading

News

Ifeanyi Ubah’s Elder Sister, Fidelia Chigbogu, Dies Suddenly at 61

Published

on

Late Mrs Fidelia Ezinwanne Chigbogu
Spread the love

Fidelia Ezinwanne Chigbogu, the immediate elder sister of the late Senator Ifeanyi Ubah, has died at the age of 61.

Mrs Chigbogu, fondly called “Darling” by her husband, reportedly slumped and died on Sunday morning in Lagos while preparing to attend church.

Her husband, Chudi Chidinma Chigbogu, a native of Nnewi in Nnewi North Local Government Area of Anambra State, described her death as a devastating shock, saying she had shown no signs of illness before the incident.

“It was like a shock to me because, even as I am talking to you now, I never believed it,” he said.

Narrating the circumstances surrounding her death, Mr Chigbogu said the family had experienced an electrical incident the previous Thursday when their electricity meter exploded and burnt their changeover room.

Maduka College Advert

He said they had contacted officials of the electricity distribution company, who promised to visit on Monday to replace and relocate the meter.

“We were busy waiting for them. My wife said she would give testimony in church on Sunday, and we were preparing for that,” he said.

According to him, his wife woke up on Sunday morning without any apparent health complaints and was preparing to leave for church when the incident occurred.

“That Sunday morning, she woke up. There was nothing like a headache, nothing like fever, nothing. She finished bathing and was preparing to go to church. She usually leaves home between 7 a.m. and 7:30 a.m. because of the roles she plays in the church,” he said.

Mr Chigbogu explained that he was washing his car because of dust when he became concerned that his wife had not come downstairs.

“I went to wash the car because of dust. Around 8 a.m., I called my son and said, ‘Why has mummy not come down? Go and check.’

“Only for the boy to go and start screaming that he called his mummy and she did not answer. He lifted her hand, and her hand dropped,” he recounted.

He said he immediately rushed upstairs and found his wife lying unresponsive on the bed.

“I called her names, no way. I alerted neighbours, and we carried her to six hospitals. Anywhere we went, they would take me aside and say I didn’t bring her on time, that she had passed on.

“I said no, it was not possible, until we got to Navy Hospital, where they refused to admit her,” he said.

Mr Chigbogu said prayers continued at their home for several hours as the family struggled to come to terms with the tragedy.

He recalled that around 4 p.m., someone told him she had seen his wife in a vision, moving swiftly without looking back, which she interpreted as a sign that the deceased had made it to heaven.

“That was when I changed my mind and allowed an ambulance to come. She left here after 6 p.m. and got to the village around 7 a.m. the next day,” he said.

Describing his late wife, Mr Chigbogu said she was a natural leader, peacemaker and philanthropist who played a significant role in her family, church and community.

“Aside from calling her Darling, I called her many names because she was a leader. No matter the case in the family, she would settle it.

“She is the founder of a women’s group, played a very big role in the church and was known for her charitable work. Before her passing, she was working on her orphanage.

“Even though she is no more, I will not let her down. I will make sure that project comes to pass,” he said.

On her family background, Mr Chigbogu said her parents had seven children—three boys and four girls—and that his late wife was the second daughter.

He added that she was also one of the trustees of the Ubah family.

Continue Reading

Trending

Maduka College Advert