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Petrol may drop to N800/litre as oil prices tumble
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.
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.
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.
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.
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.
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.
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.
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.
“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.
“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.
By Ugoo Aniagoh
From the restoration of electricity at the local government secretariat after 13 years to renewed road, water, sanitation and security initiatives, the Okakpu-led administration is setting its governance agenda in motion.
The administration of Hon. (Dr.) Ikechukwu Okakpu, popularly known as OKD Jnr, and his Deputy, Hon. Ifunanya Nwanadile, has recorded a number of developmental milestones as the duo mark their first 30 days in office as Mayor and Deputy Mayor of Njikoka Local Government Area of Anambra State.
Since assuming office on October 3, 2026, the administration has initiated interventions across critical sectors, including infrastructure, environmental sanitation, water supply, grassroots governance and community security.
One of the notable achievements recorded within the period is the restoration of electricity at the Njikoka Local Government Secretariat after 13 years without public power supply. The development marks a significant improvement in the working environment at the council headquarters and is expected to enhance administrative efficiency.
In the area of water infrastructure, rehabilitation of pipe-borne water facilities across the local government has commenced, reflecting the administration’s commitment to improving access to basic amenities.
The administration has also strengthened its governance structure through the appointment and inauguration of elected councillors, Supervisory Councillors and Special Advisers to support grassroots representation, policy implementation and effective service delivery.
Environmental sanitation has received considerable attention, with over 100 ad-hoc workers engaged to support waste management, routine cleaning and general environmental sanitation across the local government.
On infrastructure development, the administration has commenced a Public-Community-Private Partnership (PCPP) road project along the Awovu–Osili axis in Enugwu Ukwu. An assessment of Ezi Norbert Road has also been conducted as part of efforts to identify infrastructure needs and explore possible interventions.
Security has equally featured prominently in the administration’s first-month activities. Adopting a zero-tolerance stance towards insecurity, the council has mounted CCTV cameras at strategic locations to strengthen surveillance and improve security monitoring.
In a grassroots-driven security initiative, local traders and street operators have also been engaged as Community Safety Marshals. Equipped with walkie-talkies, the marshals are expected to serve as additional sources of community security intelligence, promptly reporting suspicious movements and activities to the appropriate authorities.
These initiatives represent some of the administration’s early efforts to address longstanding challenges while laying the groundwork for sustained development across Njikoka’s six communities.
Speaking through its first-month performance record, the administration maintains that its focus remains on practical governance, improved public services, environmental responsibility, infrastructure development and a safer community.
Although the administration is still in its early days, its first 30 days have provided an indication of its immediate priorities and development direction.
For residents of Njikoka, the expectation will now be to see these initial interventions translated into sustainable projects, measurable improvements and lasting impact across the local government.
Thirty days down, more work ahead. Njikoka First.
The Federal Government has released guidelines explaining how Nigerians selected for its N50,000 relief grant can confirm their eligibility, accept the offer, access the funds and withdraw the money.
The government also warned beneficiaries against fraudsters seeking to exploit the intervention by demanding money or sensitive personal information.
The National Emergency Relief and Stabilisation Intervention (NERSI) is designed to support vulnerable households struggling with rising living costs.
The programme, managed by the Federal Ministry of Humanitarian Affairs and Poverty Reduction, provides a one-off grant of N50,000 to selected beneficiaries through mobile wallets operated by five approved payment providers.
According to the frequently asked questions published on the programme’s website and sighted by PUNCH Online on Thursday, the grant is not a loan, requires no repayment and can be accessed without a smartphone or internet connection.
Here are the key things Nigerians need to know about the programme.
1. Who qualifies for the N50,000 grant?
The government said beneficiaries were selected from the National Social Register and verified national identity records.
It explained that individuals cannot apply directly or pay anyone to secure a place on the beneficiary list.
Selection is based on need, with beneficiaries drawn from the six geopolitical zones, irrespective of religion, ethnicity or political affiliation.
The government also clarified that payments would be made in phases, meaning not everyone would receive a notification at the same time.
2. How can you check if you are eligible?
Selected beneficiaries will receive SMS notifications from one of the five approved payment providers: ALAT, MoMo PSB, NairaGram, OPay and Moniepoint.
The messages will confirm their selection and provide a USSD code to dial to accept the grant.
Beneficiaries can also dial their assigned provider’s USSD code and select the eligibility-check option to confirm their status.
Those who are not selected will receive a notification informing them that they are currently not eligible for the relief support.
3. How do beneficiaries claim the N50,000?
Recipients are required to dial the USSD code contained in the notification from their payment provider and follow the instructions.
The process activates a mobile wallet, after which the N50,000 is credited and a confirmation SMS is sent.
The government stressed that receiving a selection message does not automatically mean the money has been paid. Beneficiaries must first accept the offer.
Those who mistakenly reject the offer can dial the code again and select the acceptance option.
4. Can people without smartphones receive the grant?
Yes. The government said beneficiaries do not need smartphones or internet access to receive the money.
A basic mobile phone is sufficient because the USSD codes work without an internet connection.
However, customers of OPay, Moniepoint and MoMo PSB can also use their providers’ official mobile applications to access their wallets and carry out transactions.
5. How can beneficiaries withdraw the money?
Beneficiaries can withdraw their funds through Point of Sale agents by transferring money from their mobile wallets and collecting cash.
Each approved payment provider also offers alternative withdrawal and transfer options.
The available USSD codes include:
- ALAT: Dial 94523Account NumberAmount# to transfer funds.
- MoMo PSB: Dial 6710# or use the MoMo NG application.
- NairaGram: Dial 72600#.
- OPay: Dial 95520# or use the OPay application.
- Moniepoint: Dial 557327# or use the Moniepoint application.
Beneficiaries can withdraw the entire N50,000 or take only part of it, leaving the balance in their wallets.
They can also transfer the money to personal bank accounts or other beneficiaries through the available channels.
6. Are there charges for receiving the grant?
The government said accepting the grant, receiving the money and responding to programme SMS notifications are free.
However, POS operators may charge their usual withdrawal fees when beneficiaries collect cash.
Recipients are therefore advised to confirm the applicable charges before completing transactions.
7. What if you have not received an SMS?
The government explained that payments were being made in phases, with payment providers contacting beneficiaries in batches.
Therefore, not receiving an SMS does not necessarily mean an individual has been permanently excluded.
Interested persons can check their eligibility through their assigned provider’s USSD code.
The government, however, warned that nobody could add an individual to the beneficiary list or accelerate payment in exchange for money.
8. How can beneficiaries avoid fraud?
The government warned Nigerians against individuals claiming they could help them secure or release the N50,000 grant for a fee.
It stressed that programme officials and payment providers would never request beneficiaries’ PINs, one-time passwords or Bank Verification Numbers.
Genuine messages will come only from the official sender names of the five approved payment providers and will not contain links.
Beneficiaries were also advised against clicking unfamiliar links, downloading unknown applications or forwarding WhatsApp messages claiming that sharing them would guarantee access to the grant.
The government further warned recipients not to refund money to anyone claiming that the payment was made in error. Such claims should first be verified through the provider’s official customer service channels.
9. What happens if you lose your phone or SIM card?
Beneficiaries who lose their phones or SIM cards should immediately contact their payment providers to secure their wallets.
They should also obtain replacement SIM cards bearing the same phone numbers from their network operators.
The government assured beneficiaries that their money would remain in their mobile wallets even if they lost their phones or SIM cards.
10. What should beneficiaries do if their USSD codes stop working?
The programme advised beneficiaries to check their network signals and retry if their USSD codes fail.
If the problem persists, they should contact their payment providers through their official customer service channels.
The following helplines were provided:
- ALAT by Wema: 0803 900 3700
- MoMo PSB: 671 or 0803 106 7100
- NairaGram: 0201 330 0880 or 0201 330 0881
- OPay: 0700 888 8328 or 0201 888 8328
- NERSI programme: 0700-022-2222
Enquiries concerning mobile wallets and payments should be directed to the respective providers, while questions about the intervention can be addressed to the programme’s helpline.
11. Which organisations are authorised to disburse the grant?
The Federal Government identified five approved payment providers for the N50,000 intervention.
They are ALAT, the digital banking platform of Wema Bank; MoMo PSB, a licensed Payment Service Bank; NairaGram, a digital money transfer service; OPay, a licensed mobile money operator; and Moniepoint, a licensed microfinance bank.
Beneficiaries were advised to deal only with their assigned providers and use official channels for enquiries and transactions.
The government reiterated that beneficiaries do not need to pay anyone, click external links or download unfamiliar applications to access the grant.
By Okey Maduforo, Awka
Pro-Biafran agitators based in the United Kingdom have challenged the three leading presidential contenders ahead of the 2027 general elections to address the lingering consequences of the Nigerian Civil War and the plight of families affected by the conflict.
The agitators, operating under the platform of the Biafran Diaspora Movement (BDM), specifically challenged President Bola Ahmed Tinubu of the All Progressives Congress (APC), Mr Peter Obi of the Nigeria Democratic Congress (NDC), and former Vice President Atiku Abubakar to make the Biafran question and the concerns of affected families part of their political conversations.
The group expressed displeasure over what it described as the continued reluctance of political leaders to openly discuss measures aimed at addressing the historical grievances surrounding the Biafran struggle.
Speaking with reporters in Awka on Thursday, the BDM Luton Zonal Officer, Adeze Vivian Nzelu-Iheanacho, argued that the campaigns of the presidential contenders should address the political foundations of the country and offer concrete commitments towards healing the wounds of the civil war.
According to her, the Nigerian Civil War of 1967–1970 left behind unimaginable suffering, broken families and painful memories, particularly among Igbo communities.
“The Nigerian Civil War of 1967–1970 left behind unimaginable suffering, broken families and painful memories. For many Igbo families, the consequences of that war are not simply a chapter in history books.
“Decades later, concerns about marginalisation, political representation, insecurity and belonging continue to shape conversations across the Southeast.
“We cannot keep asking why people feel angry or unheard without being willing to listen to what they are saying,” she stated.
Nzelu-Iheanacho noted that the Indigenous People of Biafra (IPOB) had become a prominent voice in the campaign for Biafran self-determination, adding that its supporters view the movement as an avenue for expressing concerns about identity, political exclusion and the future of the Southeast.
She, however, maintained that the Biafran question transcended any individual or organisation, insisting that changes in political leadership and continued security operations would not automatically resolve the historical and political grievances associated with the struggle.
“The Biafran question is bigger than any individual or organisation. Even when political leaders change or security operations continue, the historical and political questions surrounding Biafra do not automatically disappear,” she said.
She urged the Federal Government to distinguish between legitimate political grievances and criminal activities, arguing that security measures alone could not provide a lasting solution to the concerns driving agitation in the region.
“A government can disagree with IPOB’s demands, challenge its ideas and act against criminal conduct where evidence supports doing so. But these actions do not remove the need to address the deeper issues that keep political grievances alive.
“A problem left unresolved today may become more difficult to address tomorrow,” she added.
The BDM official observed that while political leaders engage in debates, security operations continue and various movements advance their demands, ordinary citizens bear the consequences of the prevailing situation.
She identified mothers worried about the safety of their children, traders afraid of losing their livelihoods, young people uncertain about their future and families struggling to go about their daily activities as among those affected.
“There are mothers who worry about their children, traders who fear losing their livelihoods, young people who wonder what the future holds, and families who simply want to go to work, send their children to school and return home safely,” she said.
Nzelu-Iheanacho maintained that the group’s position was anchored on justice, protection of human life, respect for peaceful voices and the need for government to address genuine grievances.
“Our position is simple: justice must be fair, human life must be protected, peaceful voices must be heard, and genuine grievances must not be ignored.
“Let justice be done. Let innocent lives be protected. Let the people be heard. And let peace be built on truth, not silence.
“Because at the end of the day, beyond the politics and arguments, ordinary people simply want to live, raise their children and grow old in peace. Surely, that is not too much to ask,” she said.
The Federal High Court in Abuja has nullified the leadership of the African Democratic Congress (ADC) led by Senator David Mark, declaring its actions and decisions on behalf of the party invalid.
The ruling also affects the nomination of former Vice President Atiku Abubakar as the ADC’s presidential candidate for the 2027 general election.
Atiku had earlier appeared on the list of presidential candidates published by the Independent National Electoral Commission (INEC). He had also picked former Rivers State Governor, Rotimi Amaechi, as his running mate.
In a judgment delivered on Thursday, Justice Peter Lifu declared unlawful the caretaker committee led by Mark, which conducted the party’s presidential primary that produced Atiku as its candidate.
The judgment followed a suit filed by Nafiu Bala Gombe, a former ADC National Deputy Chairman (North-East), who challenged the process through which the Mark-led group assumed control of the party.
Gombe argued that following the resignation of the party’s former National Chairman, Chief Ralph Nwosu, he was constitutionally entitled to assume leadership of the ADC.
He subsequently approached the court, seeking to invalidate the decisions and activities undertaken by the Mark-led leadership in the name of the party.
The defendants in the suit, marked FHC/ABJ/CS/1819/2025, included the ADC, INEC, Senator David Mark, Ogbeni Rauf Aregbesola and Chief Ralph Nwosu.
The plaintiff also sought an order restraining Mark and Aregbesola from parading themselves as the party’s National Chairman and National Secretary, respectively, arguing that their emergence violated the ADC constitution and relevant provisions of the Electoral Act.
In his ruling, Justice Lifu upheld Gombe’s arguments and granted the reliefs sought.
The judgment is expected to trigger fresh developments within the ADC as political parties intensify preparations for the 2027 general elections, scheduled for January 16, 2027.
Meanwhile, the ADC has indicated its intention to challenge the ruling at the Court of Appeal.
The party’s National Welfare Secretary, Nkemakolam Ukandu, who was subsequently joined in the proceedings as an interested party, confirmed that the party would appeal the judgment.
OPay has explained how Nigerians can determine whether they qualify for the Federal Government’s ₦50,000 monthly cash support programme targeted at vulnerable citizens.
The digital financial services company said eligible customers would receive a pop-up notification on the homepage of their OPay mobile application, providing instructions on how to proceed with the registration or verification process.
In a statement shared on its official X handle on Tuesday, the company advised customers to click on the notification and follow the steps provided to access the intervention.
OPay clarified that customers who do not see the pop-up notification on their app are not eligible for the programme.
The company also stressed that it has no responsibility for selecting beneficiaries or determining who qualifies for the Federal Government’s cash support scheme.
According to OPay, Nigerians seeking further information or clarification about their eligibility should contact the National Economic Recovery and Support Initiative (NERSI).
“The ₦50,000 monthly Federal Government cash support is available only to eligible citizens. Eligible customers will see a pop-up notification on their OPay app homepage. Kindly click on the pop-up to proceed with the next steps.
“Kindly note that customers who are unable to see the feature on the app are not eligible for it. Please note that we do not determine your eligibility. Kindly contact NERSI at 07000222222 for assistance,” the company stated.
The clarification comes amid growing interest among Nigerians in the Federal Government’s proposed financial support programme for vulnerable citizens.
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