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Petrol may drop to N800/litre as oil prices tumble

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The drop in crude oil prices and the resumption of the naira-for-crude arrangement for local refiners may push the pump price of Premium Motor Spirit (petrol) further down to about N800 per litre in the coming weeks or months, oil marketers and industry analysts said on Wednesday.

This comes as the Dangote Petroleum Refinery reduced its ex-depot price for PMS to N835 per litre, its second downward adjustment in less than seven days.

The industry players, however, pointed out that the N800 per litre price could be achieved if crude drops further to $50 per barrel and marketers depend less on foreign exchange to buy products. Brent, the global benchmark for crude, was about $65 per barrel on Wednesday.

Also on Wednesday, the Dangote refinery again slashed its refined product prices to make them cheaper, cutting its ex-depot rate for petrol to N835 per litre.

The new price represents a N30 reduction from N865 per litre implemented six days ago, marking a 3.5 per cent decrease, and a N45 reduction from the N880 per litre sold by the facility last Wednesday.

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This price cut marks Dangote’s third downward price adjustment in six weeks. A pro forma invoice sighted by our correspondent, and checks on petroleumprice.ng confirmed the development.

Confirming this, a statement signed by the Group’s Chief Branding and Communications Officer, Anthony Chiejina, said the refinery reduced its gantry price to reaffirm its commitment to providing high-quality petrol at affordable rates, benefiting consumers across the nation.

It stated that the new price is inclusive of charges by the Nigerian Midstream and Downstream Petroleum Regulatory Authority.

The document detailing the revised price structure shows that PMS at the gantry will now sell for N835 per litre, inclusive of NMDPRA statutory levies, while coastal sales remain on hold. The diesel gantry price is set at $608 plus a $70 surcharge, payable either in naira at N1,650/$ or in USD.

Coastal sales are also on hold. Jet fuel will be sold at $664.75 with a $42 gantry surcharge and a $22 coastal surcharge. Prices for cooking gas at both gantry and coastal points are currently on hold.

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The statement added that its partners will sell the products between N890 and N920. These partners include MRS, AP (Ardova), Heyden, Optima Energy, Hyde and Tecno Oil.

The statement read, “Dangote Petroleum Refinery is pleased to announce a reduction in the gantry price of Premium Motor Spirit, commonly known as petrol, from N865 to N835, effective from Wednesday, 16th April 2025. This marks the second price reduction within a week.”

“Key partners, including MRS, AP (Ardova), Heyden, Optima Energy, Hyde and Tecno Oil, will offer petrol at N890 per litre, down from N920 in Lagos. In the South-West, the price will be N900 per litre, reduced from N930.

“In the North-West and North-Central, the price will be N910 per litre, lowered from N940. In the South-East, South-South, and North-East, the price will be N920 per litre, down from N950.”

Continuing, Chiejina anticipated that the latest reduction in PMS prices would generate a positive ripple effect throughout various sectors of the economy, providing much-needed relief to consumers and contributing to broader economic growth.

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He added, “Dangote Petroleum Refinery has consistently worked to reduce the prices of petrol and other refined petroleum products, ensuring the continued benefit of Nigerian consumers. For example, in February, the refinery reduced prices twice by N125. In addition, products such as diesel and Liquefied Petroleum Gas have also experienced significant price reductions due to the refinery’s sustained efforts.

“We anticipate that this latest reduction in PMS prices will generate a positive ripple effect throughout various sectors of the economy, providing much-needed relief to consumers and contributing to broader economic growth, particularly during the Easter season.

“Dangote Petroleum Refinery remains steadfast in its commitment to ensuring a steady supply of premium-quality petroleum products, with sufficient reserves to meet domestic demand, along with a surplus for export. This strategy is designed to support the stability of the domestic market while also contributing to the growth of Nigeria’s foreign exchange reserves.

“Furthermore, Dangote Petroleum Refinery calls on industry stakeholders, including marketers and distributors, to continue sourcing their products from the refinery, ensuring that the benefits of these price reductions are fully realised across the country.”

Earlier on Wednesday, PUNCH Online hinted at a possible price cut after the landing cost of imported petrol dropped to N853 per litre on Tuesday.

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This development comes as marketers secured regulatory approval to import 117,000 metric tonnes—equivalent to 156.897 million litres—of petrol within eight days, from 8 to 16 April 2025, to boost fuel supply nationwide.

These figures were revealed in separate documents obtained by our correspondent from the Nigerian Ports Authority and the Major Energies Marketers Association of Nigeria.

Dealers said the N853 per litre spot import parity into tanks, which includes expenses such as shipping, import duties, and exchange rates, marks a notable N3 reduction from N856.75 per litre last Monday and N852.02 on Tuesday.

The document showed that on-the-spot sales at the NPSC-NOJ terminal dropped to N853.12 per litre, while the 30-day average cost also declined to N844.84 per litre.

Within the period, marketers brought in six vessels conveying 117,000 metric tonnes through Tin Can Port in Lagos and Calabar Port in Cross River State.

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Importantly, the continued price drop coincides with the restart and full implementation of the Naira-for-Crude agreement with local refiners after an earlier suspension.

The Ministry of Finance disclosed this in a statement published last week on its official X handle, titled: “Update on the Crude and Refined Product Sales in Naira Initiative.”

The statement followed a meeting on Tuesday between the Minister of Finance, Wale Edun, and representatives from Dangote Refinery—a major beneficiary of the agreement — to review progress and address ongoing implementation issues.

The committee stated that the policy is not a temporary measure but a long-term strategy to reduce Nigeria’s dependence on foreign exchange for petroleum.

It added that the initiative is a key policy directive designed to support sustainable local refining and strengthen energy security.

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Despite these price adjustments, oil marketers have yet to pass on the savings to consumers, with retail pump prices remaining largely unchanged across much of the country.

Commenting, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said the development was a direct implication of the revamped naira for crude deal.

Ukadike, speaking in a telephone interview, said, “Yes, the reduced price is a direct implication of the naira-for-crude deal. Global crude price is also a key factor. And I can tell you that if this continues, and prices continue to dwindle in the international market, the impact shall be felt domestically in the prices of refined products.

“When crude price reaches $50 per barrel, then it is possible to reach between N650 to N700 per litre petrol price.”

He, however, lamented the new challenge of losses to be absorbed by business owners.

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“It is affecting marketers, but based on the naira-for-crude, the effect must be reflected in the pump price. The issue of exchange has been discounted because the government has started supplying Dangote crude. It won’t be fair for him to remain at the former price.

“Because of the new decision of the New Group Chief Executive Officer of the Nigerian National Petroleum Company, there must be a reflective impact on the price of petroleum products to show that the government has implemented as discussed,” Ukadike stated.

An oil and gas expert, Olatide Jeremiah, said the pump price of petrol would have reached N700 if the local arrangement deal hadn’t been suspended.

He said, “The crude oil decline and renewal of naira-for-crude policy is a double-edged advantage for Nigerians, as pump price may hit N700/litre soon.

“Today’s decline from N865/litre to N830/litre just triggered a price war between Dangote and private Depot owners. As I speak, oil importers are jittering as this price decline will force them to compete, thus pushing them into losses since their landing cost is about 860/litre, and most of them still have stocks in their tank farms.

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“For both blocs, it’s all about who has the largest share and dominates the petroleum market, but for Nigerians, they should expect and enjoy a continuous reduction of fuel pump prices.

“If not for the suspension of naira-crude policy that gave private depot owners the autonomy to jack up prices, petrol pump price would have dropped to around N700/litre.”

However, President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Dr Billy Gillis-Harry, offered a different perspective on the development, noting that the arbitrary change of price is causing significant instability in the sector.

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South-East Development at Risk? Fresh Allegations Shake SEDC Leadership

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The Abia State’s “Senior man” is leg-deep into a messy murky-water fight with the SEDC, I learnt. The crux of the squabble is saddening.

While Senator Orji Uzor Kalu wants a huge bite from a crumb-pie federal allocation the SEDC barely gets to fund its activities, the commission’s management is refusing to open its vault. For this, a fatal crisis brews.

I dug deeply to uncover the hidden cracks, which neither Orji Uzor Kalu nor the SEDC wants visible to the public.

A Thread.

When the Senate President, Godswill Akpabio, announced the 10-Man Senate Committee to oversee the activities of the South East Development Commission (SEDC) and made Orji Uzor Kalu its Chairman, many South Easterners, like myself, were underwhelmed.

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“How can a man who was once convicted of funds embezzlement and wanton corruption lead a committee that will conduct a transparent oversight function on the SEDC?” I questioned. The logic was vague.

Today, those silent doubts have been proven valid. The Abia state “senior man” in kleptocracy is showing off his true colours and they read red for the SEDC, the region’s “child” development initiative that should rather enjoy the support of every stakeholder from the region.

Before we get into unraveling the ridiculous “settlement” demands of OUK and the impending showdown, let’s take a look at the SEDC’s activities so far.

On February 12th, 2025, the SEDC Management Team, Governing Board, and Senate Committee were inaugurated. Tinubu’s government announced a N140 billion yearly allocation for the commission and directed its Management to draft its budget around the figure.

The Commission did as directed, drafted a N120 billion budget. But for its vision for the South East development, it included more critical infrastructures in the budget. This shot the budget to N250 billion.

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In its revenue mapping, it factored in raising the N110 billion shortfall internally – all by itself. This didn’t pose a problem. The government approved the budget. Allocations will come in monthly, in a tranche of N10 billion each month.

Unsurprisingly, the Commission didn’t get any budgetary allocation throughout 2025. In these months of financial drought and zero cash inflow, everywhere was quiet. Senator Orji Uzor and his committee members didn’t see a need to exercise oversight on the Commission’s activities.

But in December 2025, the government released a N5 billion take-off grant to the Commission. For context, a take-off grant is a mobilization fund. The commission is expected to use it to acquire and renovate office spaces, pay salary arrears for its staff, and cover other expenses it may have incurred throughout its 9 months of takeoff.

As soon as the funds arrived, the bees gathered to perch on the honeycomb. But with the honey sealed, the parasitic bees are piping to sting on the host with such a rude sense of entitlement. This is the crux of the matter.

I learnt the SEDC Management had yet to map out the expenditure for the takeoff grant when the “arrogant racketeers” came banging at the door for a fat share, with their greedy potbellies. I tried to obtain details but the SEDC declined. I assume they fear Orji Uzor Kalu’s brutish wrath.

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Senator Orji Uzor Kalu and his fellows want about 35% cut from the N5 billion takeoff grant, and also for subsequent allocations that the commission gets. How much more ridiculous can it get?

On what grounds does the so-called Senate Committee demand about 35% of the takeoff grant and subsequent allocations? Is the SEDC their private ventures? How more gluttonous can their kleptocratic deep pockets be?

The SEDC Management declined. And it is sticking with its “no” with vehement insistence. This set the tone for the fight which has now spiraled to a destructive dimension. In fact, it threatens the existence of the commission.

This year, the Commission has only received N1.8 billion twice, in January and February. The rest of the months so far, it has gone without allocation. I learnt that the Venture Capital Competition it recently hosted, which funded 25 startups and existing businesses from South Easterners, was financed largely by private investors – which the commissioned sourced.

Yet, Orji Uzor Kalu and fellow money-mongers want a bite from the fragmented pie.

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Recall that earlier in February this year, the Senate Committee, through Senator OUK, issued a “stern warning” to the commission over “the management of N250 billion takeoff grant.” It was because the Commission refused to hand them about 35% cut from the N5 billion. They lied that it was N250 billion.

Is the Senate Committee backing down yet? Never. They have summoned the Commission to appear before them on June 9th, tomorrow. They cannot understand stubborn Will and resolve of the SEDC Management Team to resist their insidious interference and mute their atrocious kleptocratic taste.

They now want to carry out a comprehensive probe into the SEDC activities. The Commission must provide details of all projects, programmes, interventions, and contracts it has executed so far, including their locations, costs, procurement processes, and implementation status.

Wouldn’t this have earned a reputable applause had the Senate Committee not been driven by a heinous greed and sought to choke a Southeast’s only Development Initiative to termination?

Isn’t it time for the leaders and stakeholders from the South East to stand up to Orji Uzor Kalu and his colleagues in the SEDC Senate Committee to quit this scandalous meddlesomeness and allow the Commission to do its job?

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Beyond the oversight function of monitoring and probing the activities of the Commission to ensure that it runs efficiently and effectively, and that it is transparent and accountable in all its dealings, the Senate Committee has no other business but to focus on its lawmaking duties. It should remain at this!

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Anambra Govt urged to Stop Salary Deductions As Head Of Service Shuns Newsmen

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By Okey Maduforo, Awka
The Anambra State chapter of the Nigerian Labour Congress (NLC) has called on the state government to suspend further salary deductions affecting workers pending the conclusion of investigations by a committee set up to address the issue.
For the past three months, workers in the state have complained about unexplained deductions from their monthly salaries, describing the development as unacceptable. Many affected workers insist that even those who report to work regularly and punctually have had portions of their salaries deducted.
Some workers have accused the state government of implementing punitive measures linked to the prolonged Monday sit-at-home order previously enforced by the separatist group, the Indigenous People of Biafra (IPOB), which kept many workers away from their duties for several years.
Speaking with journalists, the Anambra State NLC Chairman, Comrade Humphrey Nwafor, disclosed that the issue was raised during the 2026 Workers’ Day celebration, prompting Governor Charles Soludo to establish a committee to investigate the allegations.
According to Nwafor, the committee comprises the NLC Chairman, the Trade Union Congress (TUC) Chairman, the Commissioner for Finance, and the Head of Service.
He explained that during the committee’s meeting last week, members resolved that salary deductions should be suspended pending the submission of the committee’s final report. The responsibility of addressing the issue in the interim was assigned to the Commissioner for Finance and the Head of Service.
“We met last week and resolved that those deductions should be put on hold for now while the Commissioner for Finance and the Head of Service manage the situation. Organized Labour has agreed to stay action while the government looks into the matter,” Nwafor said.
Efforts to obtain comments from the Head of Service, Barrister Ngozi Anuli-Iwuono, were unsuccessful. When contacted, she expressed frustration over frequent calls from journalists and declined to comment on the matter.
This reporter had earlier contacted her on Monday, when she explained that she was attending an Executive Council meeting and could not immediately respond. However, when contacted again on Tuesday, June 9, at about 1:25 p.m., she stated that she was in another meeting.
“I am in another meeting. Why are journalists calling me every time? Last time it was Tribune, today it is Telegraph. Please, you people should stop calling me,” she said.
Meanwhile, the Commissioner for Information, Dr. Law Mefor, assured workers that the matter was receiving attention and revealed that some affected employees had already started receiving the balance of their deducted salaries.
Mefor explained that most of the affected workers were stationed outside the state headquarters. He noted that the Ministry of Finance relies on attendance records submitted by various departments and unit heads to determine salary payments.
“It is based on the information available to the Ministry of Finance regarding those who reported for duty through the attendance clock-in system. This issue mainly affects workers in outstations and not those at the headquarters,” he said.
“People have started receiving their full salaries, and many of those who failed to clock in were affected. This is already being verified.”
Using the Ministry of Information as an example, Mefor said the ministry has about 185 workers, the majority of whom serve as Information Officers across local government areas. He added that evidence of their attendance was submitted to the Ministry of Finance to facilitate payment.
“Here in the Ministry of Information, we have about 185 workers, most of whom are posted to local government areas. We provided evidence of their attendance to the Ministry of Finance, and necessary adjustments are being made,” he stated.

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Three Dead as Warri-Itakpe Train Derails in Delta, NRC Confirms

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The Nigerian Railway Corporation (NRC) has confirmed the death of three persons following the derailment of the Warri-Itakpe train in Agbor, Delta State.
The corporation disclosed that four coaches left the rail track during the incident, which occurred on Monday, June 8, 2026.
In a statement, the Managing Director of the NRC, Dr. Kayode Opeifa, said emergency response teams and other relevant authorities were immediately mobilised to the scene to manage the situation and provide assistance to affected passengers.
“The Nigerian Railway Corporation (NRC) has confirmed a serious train accident involving the Warri-Itakpe Train Service (WITS) corridor at Agbor, Delta State,” the statement said.
According to Opeifa, rescue and emergency response operations were activated immediately after the accident, and all passengers on board have since been accounted for.
“Sadly, three fatalities have been confirmed at this time,” he stated.
He added that relevant authorities are continuing to assess the full circumstances surrounding the incident, while support is being provided to injured and affected passengers.
“Our thoughts and prayers are with the victims, their families, and loved ones during this difficult time,” Opeifa said.
The NRC urged members of the public to rely only on verified information and official updates from the corporation as investigations into the cause of the derailment continue.

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Newlywed Woman Disappears After Discovering Husband Had Two Children

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A newly married Nigerian woman who was recently declared missing by her family in Abuja has reportedly left her matrimonial home after discovering that her husband allegedly had two children with different women.

The woman, from Mbabum Community in Ukum Local Government Area of Benue State, had been the subject of a public appeal by her family, who sought assistance in locating her after she allegedly left her husband’s residence in Abuja.

According to a statement attributed to a family representative, Hon. Goshi Peter, the woman married Goshi Bem in March 2026 but left her matrimonial home about two weeks ago and had not returned.

However, in an update shared on Saturday, June 6, 2026, a Facebook user, Tyom Alexander, claimed she had spoken with the woman by phone.

According to Alexander, the woman said she left her husband’s home after discovering that he had two children from different women, information she alleged was not disclosed to her before their marriage.

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“I have been able to speak with this woman through the phone number provided by the whistleblower,” Alexander wrote.

“She said her husband didn’t tell her that he had children before their marriage. She only discovered this after they relocated to Abuja.

“The first child is five years old, while the second child is two years old, both from different mothers.”

Alexander further claimed that the woman stated she was safe and still in Abuja, and reportedly warned her husband not to bother searching for her.

“According to her, the man should not bother looking for her as she is doing fine in Abuja,” Alexander added.

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“If this is true, then the man has disappointed me. I wait to hear the man’s side of the story.”

As of the time of filing this report, the husband’s response to the allegations had not been made public.

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Consultant Laments Fate Of 200,000 kms Of Nigerian Roads

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By Okey Maduforo Awka

The fate of Nigerian roads especially the highways appears to be under threat of this year’s rainy season following fears by professionals that the over 200,000 kilometers of roads may collapse by the end of the year .

Deepening this apprehension is the lack of maintenance of those roads which have yearly carried loafs above it’s capacity occasioned by heavy duty trucks and tankers .

Expressing these fears , Consultant Engineer to the Federal government Patience Aningo noted that if urgent steps are not taken this year’s rainy season would spell doom for motorists and other road users across the country.

“Without consistent enforcement of axle load limits, and steady maintenance of our federal highways there strong indications that the country is at the risk of loosing over 200,000 kilometers of roads ”

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“Roads require precision from proper compaction to correct layer thickness”

“By then, what could have been addressed with minor engineering challenges would become a huge cost of maintenance”

“The frustrations lies a deeper issue and the persistent failure of roads that should last far longer is compromised by laxity on the part of the authorities concerned”

“The outcomes are sometimes undermined by weak supervision, inconsistent material quality, and cost”

She observed that poor drainage system has also been the bane of the Federal roads in the country.

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“Nigeria has one of the largest road networks in Africa estimated at over 200,000 kilometers yet a
One major factor is inadequate drainage”

“Roads are not just paved surfaces; they are engineered drainage
systems, sealing cracks, and timely patching remains underutilized, despite its proven
underlying soil, and accelerates structural deterioration”

“In a country with intense seasonal rainfall, neglecting drainage is one
of the fastest ways to shorten a road’s lifespan.’

“Regulations must be enforced consistently to protect infrastructure investments”

“Similarly, the Abuja–Kaduna Highway remains a critical but vulnerable route, where
pavement distress and operational challenges continue to highlight the strain placed on key compromise
during construction directly reduces durability and increases long-term costs”

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“Drainage must be treated as a core design element, not an afterthought which affects Axle load against
what they were originally designed for”

“Heavy-duty trucks often overloaded introduce stresses that affect the roads ”

“Many Nigerian roads now carry traffic volumes and axle loads far beyond routes in the country
and despite ongoing reconstruction efforts, sections have deteriorated quickly ”

“When water is not properly managed, it penetrates the pavement layers, weakens the
This pattern is evident on major corridors such as the Lagos–Ibadan Expressway, one of the busiest in the country “she stated.

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