
News
Marketers drop petrol prices below Dangote’s cost
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.
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
Chinese Envoy hails Mbah’s investment drive, Enugu’s investment opportunities and environment
…Says Enugu–China direct flight possible in the near future
The Consul General of the People’s Republic of China in Nigeria, Yan Yuqing, has applauded Governor Peter Mbah’s bold economic vision and investor-friendly policies.
Yuqing described Enugu State as a rising hub of “vitality, livability, and opportunity” with strong prospects for deeper China-Nigeria economic cooperation.
The envoy gave the commendation at Government House, Enugu, where she led a delegation of top executives from leading Chinese companies to a high-level meeting with Mbah.

She said the visit underscored growing bilateral engagement between Nigerian and China, which also spotlighted Enugu’s evolving status as a preferred destination for foreign direct investment, FDI.
The Chinese envoy particularly praised Mbah’s strategic focus on infrastructure, technology, and human capital development, noting that the administration’s blueprint aligns with global best practices and emerging investment trends.

“The governor’s vision for Enugu is both inspiring and practical. His commitment to infrastructure, technology, and human capital development provides a solid foundation for sustainable growth. We are confident that Enugu will become a major destination for Chinese investors.”
This was even as she stated that initial doubts as to possibility of a direct flight from Enugu to China had been cleared, having seen Mbah’s bold vision and efforts in positioning Enugu as an economic and aviation hub.

“So, at that time I thought, a straight flight to China, is it possible? But now, especially after our discussion, I think that it is not a dream. It’s a reality. And maybe in the near future, we can realise it,” she said.
According to the Consul General, the relationship between China and Nigeria has continued to strengthen, especially following the elevation of bilateral ties to a comprehensive strategic partnership in 2024, expressing optimism that Enugu would play a significant role in advancing this cooperation.
She also highlighted the presence of major Chinese corporations in Nigeria and indicated China’s willingness to expand collaboration in key sectors including infrastructure, digital economy, vocational education, and cultural exchange.
Yuqing further revealed that discussions were ongoing regarding possible sister-city agreements between Enugu and select Chinese cities, a development expected to foster closer economic and cultural integration.
She expressed delights at the cleanliness of Enugu city, describing it as quite livable.
Addressing the delegation, Mbah reaffirmed that Enugu remains open and ready for international partnerships, particularly with Chinese investors and airlines.
He emphasised that the state had deliberately created a safe, clean, and business-friendly environment capable of supporting large-scale investments.
“We are open to partnerships with Chinese airlines and investors. Enugu is safe, clean, and business-friendly,” the governor said, adding that ongoing reforms were designed to ensure ease of doing business and long-term returns for investors.
He further disclosed that plans were already underway to establish direct international flight routes between Enugu and major Chinese cities, including Guangzhou, as part of broader efforts to deepen trade and economic exchanges.
“With the concessioning of the Akanu Ibiam International Airport and our plan to build a modern cargo terminal, direct flights from Enugu to China are possible within a shorter time. This will significantly enhance trade, logistics, and investment flows,” Mbah stated.
The governor described the New Enugu Smart City as a flagship initiative aimed at redefining urban living and investment standards in Nigeria.
According to him, the project would feature world-class infrastructure, including underground electricity systems, central sewage networks, fiber-optic connectivity, piped water, and gas pipelines.
In a move to further strengthen cultural and economic ties, Mbah proposed the establishment of a Chinatown District in Enugu, assuring the Chinese delegation of government support, including land allocation and policy backing.
“We expect major Chinese companies to site their headquarters here and operate from Enugu. Our relationship with China is warm and expanding, and we want to deepen it through concrete investments,” he said.
The governor also highlighted ongoing collaboration between Chinese firms and the Nigerian government, particularly the role of CCCC in the construction of Enugu Smart City and the CCECC in rail infrastructure development.
Beyond infrastructure, Mbah pointed to successful industrial partnerships already taking root in the state, citing the example of the Haier Group, which partnered with the Enugu State Government to establish manufacturing facility in Enugufor producing digital devices, solar equipment, and household appliances.
According to him, the partnership goes beyond production to include technology transfer and workforce development, with local technicians being trained to take over operations in the near future.
He assured investors of the government’s readiness to continue to de-risk investments and provide the necessary support to ensure profitability and growth.

News
Gunmen kill traditional ruler, wife, son, two others in Benue
Gunmen have killed five people, including a traditional ruler, his wife, son and two others, in Olegabulu community in Agatu Local Government Area of Benue State.
The incident occurred on Thursday night when the assailants stormed the community around 8pm.
A local source from the community told our correspondent that four persons who rode on two motorcycles entered the residence of the traditional ruler and shot him and two members of his family.
The source, who did not want to be named, said, “The assailants were not Fulani because, at the time they alighted from their motorcycles, they exchanged pleasantries with people around in our dialect.
“So, nobody envisaged they were enemies, but as soon as they entered the traditional ruler’s house and opened fire, everyone scampered for safety.
“The assailants operated for almost 20 minutes. After attacking the traditional ruler’s residence, they moved to the next house and killed two people.

“One other person sustained injuries before they fled.”
The Chairman of the local government, Melvin Ejeh, who confirmed the incident in a telephone interview on Friday, said five people were killed and one person was injured, adding that police officers in the area had visited the scene.
“It’s true the incident happened. Five people were killed and one person injured during the attack,” Ejeh said.
When contacted, the state Police Public Relations Officer, DSP Udeme Edet, said she was yet to receive the report.
“I am yet to get the report, but I am still waiting for it,” Edet said.

News
Kogi court orders Senator Natasha to pay N1 Billion to Bello for defamation
A High Court in Lokoja has awarded N1billion in damages against Sen. Natasha Akpoti-Uduaghan, in a defamation suit filed by former Kogi governor, Yahaya Bello.
The order is contained in the Certified True Copy of the judgement, dated April 23 on Friday in Lokoja.
The court held that based on the preponderance of evidence or balance of probabilities, judgment was entered in favour of the claimant.
Justice Justice A. S. Ibrahim, while delivering his judgement in the suit marked, “HCL/16/2023”, held that upon the conclusion of the suit, the two issues formulated for determination were resolved in favour of the claimant.
“The interview granted by the defendant on 4/11/2022 on Arise TV programme of ‘The Morning Show’ is defamatory to the claimant’s character and reputation.
“The said interview of 4/11/2022 in which the defendant described the claimant as a murderer, killer, perpetrator of evil acts, and a terror to the people of Kogi State was without justification.”

The court also gave “an order of perpetual injunction against the Defendant, [his] agents, privies or associates”, restraining them from further issuance of the defamatory statements or words against the claimant on TV or radio stations.
“The sum of one billion naira (N1,000,000,000) only (is) awarded as damages against the Defendant and in favour of the Claimant,” the court said.
Bello had sued Sen. Akpoti-Uduaghan for defamation of character.
The Defendant’s Counsel, Johnson J. Usman, SAN, had, challenged the jurisdiction of the court, saying that the suit was an abuse of court process.
Bello’s Counsel, Friday Ekpa, however, countered that, saying that none of the cases before the FCT High Court was against the person of Alhaji Yahaya Bello.
After the High Court ruled that it had jurisdiction to entertain the case, Akpoti-Uduaghan appealed the ruling.
The Court of Appeal, in the appeal number, “CA/ABJ/CV/626/2024”, however, dismissed the appeal for lacking in merit and affirmed that the Kogi State High Court had jurisdiction to entertain the case.

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