News
Dangote refinery can’t change the high price of fuel – NNPC
The local production of Premium Motor Spirit, otherwise known as petrol, by Dangote Refinery, Port Harcourt Refining Company and others in Nigeria is not going to change the pump price of the commodity, the Nigerian National Petroleum Company Limited has said.
The NNPCL’s Group Chief Executive Officer, Mele Kyari, who disclosed this during an interview on Arise television in Abuja on Thursday, stressed that the notion that petrol prices would reduce once the country starts domestic production was false.
Kyari confirmed that the Dangote Refinery, which was inaugurated on May 22, 2023, by former President Muhammadu Buhari, would start pushing out products by the end of July and early August.
He also stated that the Port Harcourt Refinery would be delivered by the end of the year, adding that the facility was expected to further boost local production of petrol.
But Kyari declared that despite the volume of petrol being expected from these facilities, the cost of the commodity would not reduce, regardless of the fact that the product was produced locally.
“There is a notion that if the product is processed locally, prices will reduce. Let me make it clear that it is not going to change anything. If you produce locally, the refineries will also input the cost of production and other things and it will be sold at the current price.
“There will also be no subsidy when local production starts because there is no cash-to-back subsidy, this country no longer has the resources to continue with subsidy,” Kyari stated.
Fuel queues
Speaking on when the fuel queues being witnessed across the country would clear, during another interview on Channels TV, the NNPCL boss said the queues would not exceed Saturday.
“I don’t see it staying beyond another day or two, maximum. It can actually be on Saturday. We have supplies. The key trouble with the PMS system is supply, but I have supplies.
“There are over 810 million litres of PMS in depots, tanks and fuel stations across the country, so you don’t have the problem of transferring those from marine to land, you already have them on the ground,” he stated.
He validated the PMS pricing document for various states that trended on Wednesday on the internet, stating that the document was from the NNPCL.
“You have seen a document in the space out there. Every company does this. It is a marketing document. It was not a price announcing document, every company keeps this record and adjusts it appropriately on the basis of changing conditions in the market.
“So what you saw was just an internal company document that found its way into the internet. It is an NNPC document but it was not intended to be an announcement and is not an announcement, because it can change the next day,” Kyari stated.
On whether there was enough product in-country, he said, “Today I have 1.8 billion litres of PMS and that means that if we don’t do anything, I’ll have sufficient fuel for the next 30 days in my hands.
Kyari explained that the company had over 800 million litres of petrol on land, stored in filling stations, tank farms and depots, while its total stock for both marine and land stood at about 1.8 billion litres.
“But, of course, the way we supply is not this way, so we maintain this level of supply consistently. That means you will see the arrival of products every day so that you continue to maintain that level of safety.”
‘Subsidy not realistic’
Speaking to journalists after a meeting with the National Chairman of the All Progressives Congress, Senator Abdullahi Adamu, at the party secretariat in Abuja on Thursday, Kyari revealed that the administration of President Bola Tinubu had concluded arrangements to have one of the four refineries repaired and operating at an optimal level before the end of the year.
The NNPCL boss argued that it was no longer justifiable to continue subsidising the commodity given the high opportunity cost the Federal Government was suffering from funding it.
Kyari, who was received by the APC chairman and members of the National Working Committee at about 12.30 pm, confessed that the country could no longer sustain the expensive subsidy regime.
According to him, over 38 per cent of the total fuel distributed in the country was consumed by Lagos, Abuja, Kano and Rivers.
Kyari explained that following the hike in pump price and the resultant effect on commercial fare, the president was working out some palliative measures to ease the pains of Nigerians.
He also added that there was an ongoing process of rehabilitation to ensure one of the refineries was ready this year.
Kyari lamented that despite its N2.8tn indebtedness to the NNPCL, the Federal Government had yet to release funds for 2022 and 2023 subsidies.
He said, “There was a subsidy in 2022 but in 2023, not a single naira was provided for the purpose. And ultimately while we held back our fiscal obligations, we still have a net balance of over N2.8tn that the federation should have given back to the NNPC.
‘’For any company, when you have negative N2.8tn, there is no company in the whole of Africa that will lend to you. You cannot have receivables. The provision of subsidy is there but absolutely there is no funding for it. It means it is only on paper. It doesn’t exist.
“We can no longer bear it. If we continue, we will run into defaults and the default of NNPC is the default of Nigeria. Once NNPC goes into default and liquidity, it affects every borrowing done by the country, even the sub-nationals. Your lenders will come back to you and say your country can no longer pay.
‘’The only way you can stop this is to stop this conversation around subsidy. It is why Mr President announced that the subsidy is gone. In 24 hours, the bond market appreciated. It is nothing else other than the statement around subsidy and balancing of the apex market. These two elements are a major concern for every investor all over the world. Every partner that we have is worried about.’’
Inflation expected
Kyari acknowledged that the price increase would trigger inflation, noting that the market forces would determine what happens subsequently.
He noted, “Before today, the average subsidy level was N400bn every month. There is nothing anybody can do about it. There is this common argument that the masses will suffer. I agree that once you increase prices of this proportion, as it has happened, it will have an impact on inflation. There is no doubt about it. The market determines what happens next. Even inflation in many countries goes up when you have economic indices become difficult.
“Mr President’s target is to have seven per cent growth of GDP. You cannot have it if you have this disruption in your demands and consumption pattern. Very many of us here have at least two cars in our houses including myself. When you buy fuel of 100 litres in an SUV, you are literally subsidising three litres with N100 for all of us.
‘’Even the consumption itself is clearly skewed in locations and states where the level of economic activities are higher than the others. It is very understandable and that is why people can afford it in Abuja, Lagos, Port Harcourt, and Kano. So over 38 per cent of the total fuel distributed in this country ends up in these places. All the other parts of the country suffer for it and you can see the relativity.’’
Kyari submitted that the price at which petrol was being sold now is the current market price of the commodity.
‘’The price you are seeing today at our stations is the current market price of the commodity and what this means is that prices in the market can go down at any time and the market will adjust itself. The beauty of this is that there will be a new entrance because oil marketing companies now will want to invest, they have been reluctant to come in because of the subsidy,’’ he stated.
With the latest development, the NNPCL chief said the market would regulate itself, adding that oil marketing companies could now import products or buy locally-produced ones and take them into the market and sell at commercial prices.
He added, ‘’You would see competition even with NNPCL, and by law, the company can’t do more than 30 per cent of the market going forward. So competition will surely come in and definitely, the market will regulate the price itself. It is an instantaneous price and in two weeks, you will see the adjustment that is happening in many jurisdictions.
‘’But ultimately, you would see changes in price downwards and that is very likely. Efficiency will come in and every lacuna in the sector will be taken out because of the new situation.
By Chinedu Sabastine
ENUGU — Tension is mounting in Umuchigbo Iji Nike Autonomous Community in Enugu East Local Government Area of Enugu State as hundreds of indigenes have rejected the alleged appointment of a traditional ruler, insisting that only a transparent election can produce their Igwe.
The residents, who gathered at the community square on weekend, declared that the autonomous community has no recognised traditional ruler and appealed to Governor Peter Mbah to direct the Ministry of Chieftaincy Affairs to conduct an election in line with the community’s constitution.
The protest followed reports that Jude Agu had been presented as the community’s traditional ruler, a move the indigenes described as unconstitutional and capable of causing unrest.
The protesters also cited a subsisting interlocutory injunction of the Enugu State High Court restraining Jude Agu from parading himself as Igwe or Igwe-elect of the community pending the determination of the substantive suit.
The order, delivered on July 25, 2025, by Justice A.A. Onovo in a suit No E/491/2023 filed by Chief Maurice Nonyelum Ekete against Jude Agu and Hon. Kenneth Mbah, directed all parties to maintain the status quo until the case is determined.
The indigenes argued that recognising any monarch without an election amounted to disregarding both the community’s constitution and a valid court order.
Addressing journalists, community elder Chief Gabriel Okoh accused former Town Union Chairman, Hon. Kenneth Mbah, of frustrating an earlier election process.
“Umuchigbo people are against imposition. All we want is election. If Jude Agu wants to be Igwe, he should come to the village square and contest like every other aspirant,” he said.
Youth leader Anthony Ikechukwu Anike warned that imposing a monarch without the consent of the people could trigger avoidable tension.
“The matter is still in court, yet we are hearing that someone has received a staff of office. We will pursue every legal means to protect our rights. The government should come and conduct a transparent election,” he said.
Speaking on behalf of other aspirants, retired Permanent Secretary Chief Maurice Nonyelum Ekete said the community’s constitution clearly prescribes election as the only legitimate process for selecting an Igwe.
“Our demand is simple. Let the Ministry of Chieftaincy Affairs conduct an election as it has done in other communities. Whoever wins should become the Igwe. We are not against anybody; we are against imposition. We are not against anybody becoming Igwe. We are only saying that whoever wants the throne should submit to a transparent election.” Chief Ekete said.
Other aspirants, Chief Joseph Iloka and Chief Josephat Ezeoha, also backed the call for a transparent election, insisting that the people should be allowed to freely choose their traditional ruler.
As of the time of filing this report, efforts to obtain the reaction of the Enugu State Ministry of Chieftaincy Affairs were unsuccessful.
Umuchigbo community rejects ‘appointed’ monarch, insists on election
By Chinedu Adonu
ENUGU — Tension is mounting in Umuchigbo Iji Nike Autonomous Community in Enugu East Local Government Area of Enugu State as hundreds of indigenes have rejected the alleged appointment of a traditional ruler, insisting that only a transparent election can produce their Igwe.
The residents, who gathered at the community square on weekend, declared that the autonomous community has no recognised traditional ruler and appealed to Governor Peter Mbah to direct the Ministry of Chieftaincy Affairs to conduct an election in line with the community’s constitution.
The protest followed reports that Jude Agu had been presented as the community’s traditional ruler, a move the indigenes described as unconstitutional and capable of causing unrest.
The protesters also cited a subsisting interlocutory injunction of the Enugu State High Court restraining Jude Agu from parading himself as Igwe or Igwe-elect of the community pending the determination of the substantive suit.
The order, delivered on July 25, 2025, by Justice A.A. Onovo in a suit No E/491/2023 filed by Chief Maurice Nonyelum Ekete against Jude Agu and Hon. Kenneth Mbah, directed all parties to maintain the status quo until the case is determined.
The indigenes argued that recognising any monarch without an election amounted to disregarding both the community’s constitution and a valid court order.
Addressing journalists, community elder Chief Gabriel Okoh accused former Town Union Chairman, Hon. Kenneth Mbah, of frustrating an earlier election process.
“Umuchigbo people are against imposition. All we want is election. If Jude Agu wants to be Igwe, he should come to the village square and contest like every other aspirant,” he said.
Youth leader Anthony Ikechukwu Anike warned that imposing a monarch without the consent of the people could trigger avoidable tension.
“The matter is still in court, yet we are hearing that someone has received a staff of office. We will pursue every legal means to protect our rights. The government should come and conduct a transparent election,” he said.
Speaking on behalf of other aspirants, retired Permanent Secretary Chief Maurice Nonyelum Ekete said the community’s constitution clearly prescribes election as the only legitimate process for selecting an Igwe.
“Our demand is simple. Let the Ministry of Chieftaincy Affairs conduct an election as it has done in other communities. Whoever wins should become the Igwe. We are not against anybody; we are against imposition. We are not against anybody becoming Igwe. We are only saying that whoever wants the throne should submit to a transparent election.” Chief Ekete said.
Other aspirants, Chief Joseph Iloka and Chief Josephat Ezeoha, also backed the call for a transparent election, insisting that the people should be allowed to freely choose their traditional ruler.
As of the time of filing this report, efforts to obtain the reaction of the Enugu State Ministry of Chieftaincy Affairs were unsuccessful.
Umuchigbo community rejects ‘appointed’ monarch, insists on election
By Chinedu Adonu
ENUGU — Tension is mounting in Umuchigbo Iji Nike Autonomous Community in Enugu East Local Government Area of Enugu State as hundreds of indigenes have rejected the alleged appointment of a traditional ruler, insisting that only a transparent election can produce their Igwe.
The residents, who gathered at the community square on weekend, declared that the autonomous community has no recognised traditional ruler and appealed to Governor Peter Mbah to direct the Ministry of Chieftaincy Affairs to conduct an election in line with the community’s constitution.
The protest followed reports that Jude Agu had been presented as the community’s traditional ruler, a move the indigenes described as unconstitutional and capable of causing unrest.
The protesters also cited a subsisting interlocutory injunction of the Enugu State High Court restraining Jude Agu from parading himself as Igwe or Igwe-elect of the community pending the determination of the substantive suit.
The order, delivered on July 25, 2025, by Justice A.A. Onovo in a suit No E/491/2023 filed by Chief Maurice Nonyelum Ekete against Jude Agu and Hon. Kenneth Mbah, directed all parties to maintain the status quo until the case is determined.
The indigenes argued that recognising any monarch without an election amounted to disregarding both the community’s constitution and a valid court order.
Addressing journalists, community elder Chief Gabriel Okoh accused former Town Union Chairman, Hon. Kenneth Mbah, of frustrating an earlier election process.
“Umuchigbo people are against imposition. All we want is election. If Jude Agu wants to be Igwe, he should come to the village square and contest like every other aspirant,” he said.
Youth leader Anthony Ikechukwu Anike warned that imposing a monarch without the consent of the people could trigger avoidable tension.
“The matter is still in court, yet we are hearing that someone has received a staff of office. We will pursue every legal means to protect our rights. The government should come and conduct a transparent election,” he said.
Speaking on behalf of other aspirants, retired Permanent Secretary Chief Maurice Nonyelum Ekete said the community’s constitution clearly prescribes election as the only legitimate process for selecting an Igwe.
“Our demand is simple. Let the Ministry of Chieftaincy Affairs conduct an election as it has done in other communities. Whoever wins should become the Igwe. We are not against anybody; we are against imposition. We are not against anybody becoming Igwe. We are only saying that whoever wants the throne should submit to a transparent election.” Chief Ekete said.
Other aspirants, Chief Joseph Iloka and Chief Josephat Ezeoha, also backed the call for a transparent election, insisting that the people should be allowed to freely choose their traditional ruler.
As of the time of filing this report, efforts to obtain the reaction of the Enugu State Ministry of Chieftaincy Affairs were unsuccessful.
News
The Great Recalibration: How President Bola Ahmed Tinubu Is Restructuring Nigeria for a Stronger Tomorrow
By RT HON
CHINEDUM ENYINNAYA ORJI
“You cannot build a house for tomorrow on the weak foundation of yesterday. We must lay new blocks, even when the rain is falling.”— Adapted from President Bola Ahmed Tinubu
Three years into his presidency, President Bola Ahmed Tinubu has embarked on what may be the most deliberate economic and governance recalibration Nigeria has seen in a generation.
He came into office on May 29, 2023 with a clear declaration: “Fuel subsidy is gone.” In that single sentence, he signaled that the era of deferring hard choices had ended.
Restructuring, at its core, is about rearranging the house so it can stand longer and serve more people. For Nigeria, that meant confronting distortions that had weakened public finances, scared investors, and made planning impossible.
The first pillar of this restructuring is fiscal discipline. By removing the costly petrol subsidy and cutting electricity subsidies, the administration stopped the bleeding of trillions of naira that once vanished into opaque payments.
The results are already visible in the numbers. The fiscal deficit narrowed from 5.4 percent of GDP in 2023 to approximately 3 percent in 2024, while federation revenue rose from ₦16.8 trillion to ₦31.9 trillion.
That new revenue is not sitting idle. It is being channeled into roads, rails, power, and social programs that touch ordinary citizens directly. More than 2,700 kilometers of roads are under construction or rehabilitation nationwide.
The second pillar is monetary credibility. The unification of exchange rates and clearing of a $4 billion FX backlog restored confidence in the naira and in Nigeria’s commitment to market-based policies.
That credibility has produced tangible dividends. The stock market surged nearly fivefold to a record 250,000 points, market capitalization grew, and international rating agency Fitch upgraded Nigeria from B- to B in April 2025.
Foreign investors, who had stayed on the sidelines, are returning. New oil and gas investments are being announced, domestic refining capacity is rising, and fuel imports are falling, easing pressure on our foreign exchange.
The third pillar is sectoral transformation. Recognizing that oil alone cannot carry Nigeria’s future, President Tinubu approved a Presidential Petroleum Reform and Value Optimisation Taskforce to design the next phase of structural reforms in that sector.
The Taskforce is not another talking shop. It is a time-bound technical body charged with delivering execution-ready blueprints to unlock capital, improve transparency, and position Nigeria as a leading global energy investment destination.
Beyond oil, the February 2026 launch of the Nigeria Industrial Policy marks a decisive shift toward manufacturing, value addition, and job creation. The goal is a $1 trillion economy in five years, driven by inclusive and decentralized growth.
This is restructuring with a human face. Through NELFUND, millions of Nigerian students now have access to loans to stay in school. The CNG program is reducing transport costs and easing the burden of subsidy removal on households.
Governance itself is being rewired. The Renewed Hope Ward Development Plan is mapping economic potential across all 8,809 wards, ensuring that planning starts from the grassroots and moves upward to the state and federal levels.
Such decentralization matters. When wards have data, they have a voice. When local governments have more resources, service delivery improves. That is how accountability becomes real, not theoretical.
On security, the administration has intensified operations against banditry, insurgency, and criminal gangs. The link is clear: no investor builds factories where there is no peace, and no farmer feeds the nation where there is no safety.
A good example is the renewed engagement with Ogoni communities. By addressing historical grievances, the government is creating the conditions to restart oil exploration in a way that benefits both the people and the treasury.
Critics are right to point out the hardship. The cost-of-living squeeze has been severe, and inflation remains a challenge. But restructuring is not magic. It is medicine, and medicine often tastes bitter before it heals.
What distinguishes this moment is political will. Previous administrations discussed these reforms for decades. President Tinubu chose to act in the first week, knowing the political cost, because the economic cost of delay was higher.
The international community has noticed. The World Bank’s April 2026 Nigeria Development Update and the IMF’s 2025 Article IV Consultation both acknowledge significant progress in restoring macroeconomic stability.
More importantly, Nigerians are beginning to see the logic. A stable currency means businesses can plan. More revenue to states means more projects in communities. More transparency means fewer excuses.
The central test ahead is jobs. With 3.5 million Nigerians entering the labor force each year, the restructuring must now translate into employment-intensive growth. The industrial policy and infrastructure push are designed for exactly that.
This is not about one man or one party. It is about laying a foundation that no future government can afford to ignore. Institutions, rules, and incentives are being reset.
History will judge this period not by the pain of the transition, but by whether we used the pain to build something durable. The early signs suggest we are.
President Tinubu’s restructuring is far from complete, but it has already changed the trajectory. Nigeria is no longer drifting. It is recalibrating, with purpose, toward a future where our resources work for our people, and where governance finally matches our potential.
RT HON
Chinedum Enyinnaya orji
APC House of Representatives Candidate for Ikwuano Umuahia Fed. Constituency writes from Amaokwe Ugba Ibeku, Abia State.
The Federal Road Safety Corps (FRSC) has announced the demise of its Enugu State Sector Commander, Corps Commander Franklin O Agbakoba.
This is contained in a statement issued by FRSC Deputy Corps Commander in-charge of Enugu State Operations, DCC Kyrian C Okolo, on Friday in Enugu.
“FRSC Enugu State Sector Command received the sad news of the demise of CC Franklin Agbakoba on Thursday, July 30,2026.
“The late Sector Commander died at Niger Foundation Hospital, Enugu where he was receiving treatment.
“His corpse have been deposited at the Eastern Medical Center, Enugu,” he said.
Until his death,CC Franklin Agbakoba made inter-agency collaboration and partnership his legacy and promoted safer roads within Enugu State.
The family’s head, Imo Aguiyi-Ironsi, made the demand during an interview with Arise News on Thursday.
“I think the family needs apology. The family needs to be compensated. We need sincere apology. We need sincere reconciliation,” he said.
He described his uncle as a visionary leader who was wrongly punished for a coup he had no role in.
“He was a man of vision. He was a detribalized Nigerian. He was a good leader,” he said.
Imo Aguiyi-Ironsi noted that his uncle’s tenure as Head of State was brief and ended violently.
“He occupied the seat of head of state for only six months, and he was taken away from us.
“Not because of a sin he committed, because he wasn’t part of the January 1966 coup.”
According to him, Aguiyi-Ironsi’s death resulted from his position rather than any wrongdoing on his part.
“Only because of his position as the most senior military officer, he was told to take charge. And then that cost him his life,” he said.
He expressed hope that his appeal would reach those with the power to act on it.
“Well, I hope there are people who are in positions to make this happen that are listening to you tonight,” he said.
Aguiyi-Ironsi served as Nigeria’s Head of State from January 16 to July 29, 1966, taking charge in the aftermath of the January 15, 1966 coup that had claimed the lives of the country’s political leadership.
He survived that coup and helped crush the mutiny, but his later decision to centralise power under Decree 34, along with his failure to prosecute the plotters, fuelled resentment among northern officers.
He was killed on July 29, 1966, alongside his host, Lieutenant Colonel Adekunle Fajuyi, in a mutiny by northern soldiers that became known as the July counter-coup
The directive was contained in a memorandum dated July 13, 2026, and signed by the Chief Registrar of the Supreme Court, Kabir Akanbi.
Addressed to litigation staff, legal practitioners, court registrars and lawyers, the circular said the order took immediate effect and formed part of efforts to uphold professional standards within the apex court.
The memorandum read, “I am directed by the Honourable the Chief Justice of Nigeria to notify all Litigation Staff, Legal Practitioners, Court Registrars, and Lawyers that the use of the title ‘Barrister’ as a prefix to names is inappropriate and inconsistent with the standards of professionalism expected within the Supreme Court of Nigeria.”
It further directed all affected officers to immediately stop using the title in official correspondence and other official materials.
The memo stated, “Consequently, all officers concerned are hereby directed to discontinue the use of the title ‘Barrister’ before their names in all official correspondence, records, documents, identity materials, and any other official engagements with immediate effect.”
The memorandum added, “Heads of Departments and Unit Heads are requested to ensure strict compliance with this directive by all officers under their supervision. Please be guided accordingly.”
The directive comes weeks after the Council of Legal Education cautioned prospective lawyers against wearing wigs and gowns or presenting themselves as qualified legal practitioners before they are formally called to the Nigerian Bar.
The council said such conduct undermined the dignity of the legal profession and warned that violators could face disciplinary measures.
It also reminded candidates that the use of legal regalia is governed by the Rules of Professional Conduct and is reserved for duly qualified legal practitioners
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