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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.
A Catholic priest from Nigeria who was on a pastoral mission to the United States of America has taken his own life after the expiration of his visa and following prevailing new visa policy of the USA.
Reverend Father Benjamin Okwy Madu (Father Ben) as he was fondly called by his parishioners, aged 54, took his own life Thursday evening, July 2, 2026 after he reportedly expressed unwillingness to go back to Nigeria because he had fallen in love with the community of Cape Ann, the city of North Shore including the parishioners.
Boston Archbishop Richard G. Henning sent a message to fellow priests confirming that Father Ben took his own life.
Local law enforcement and the Essex County District Attorney’s Office investigated the scene and noted that no foul play was suspected.
“Sincerely, it is not my wish to return home right now, but circumstances beyond my control have warranted that my time in the United States come to an end,” Father Ben wrote.
“My heart is broken, yet my joy remains. I will miss the home I found away from home… I will deeply miss the seaside, where I often drive to after Mass to call my family and hear about their Sundays.” he was reported to have posted a farewell message on the parish newsletter.
Father Ben, a 54-year-old Nigerian national from the Diocese of Abakaliki, had been serving as a beloved hospital chaplain and parish priest on the North Shore of Massachusetts since 2021.
His R-1 religious worker visa was expiring, and he was ordered to return to Nigeria. Just days before his death.
The Boston Globe reported that he had expressed deep fears about what would happen to him upon returning to Nigeria, where clergy frequently face severe perils, including violence and kidnapping
The outbreak is said to have spread across several ISWAP enclaves, exposing worsening sanitary conditions and the dwindling availability of medical care within the insurgents’ camps.
Security analyst Zagazola Makama disclosed the development in a post on X, citing intelligence sources familiar with the situation.
According to the sources, two other ISWAP fighters who contracted the highly infectious disease were allegedly executed by members of the group after efforts to treat them in Kimba village proved unsuccessful.
The incident is believed to reflect the increasingly difficult conditions inside the terrorist camps, where sustained military offensives have disrupted supply routes and severely limited access to medicines, healthcare and other essential resources.
Intelligence sources said the combination of poor hygiene, inadequate medical facilities and mounting operational pressure has left many of the insurgents vulnerable to disease outbreaks.
The sources further disclosed that military commanders have been advised to intensify efforts to intercept medical supplies and pharmaceutical products suspected of being destined for terrorist hideouts. Security officials believe cutting off access to healthcare supplies could further weaken ISWAP’s ability to treat injured or sick fighters and reduce the group’s operational capacity.
While the reports have not been independently verified, the development is seen as another indication of the mounting challenges facing the insurgent group as security forces continue sustained operations across the North-East.
The development was disclosed on Friday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.
In a shared post on his verified X handle, Onanuga simply announced that the victims had been released by their abductors.
“Finally, all the kidnapped pupils and teachers in Orire, Oyo have been rescued by our security agencies,” he wrote.
As of the time of filing this report, details surrounding their release, including whether any ransom was paid or the circumstances leading to their freedom, had yet to be disclosed.
The abductions occurred on May 15, 2026, when armed men attacked three schools; Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School, in the Esiele and Yawota communities of Oriire Local Government Area.
No fewer than 39 pupils and seven teachers, including a principal, were taken during the attacks.
During the attack, a teacher, Joel Adesiyan, was killed while attempting to escape.
Another teacher, Michael Oyedokun, was beheaded in the kidnappers’ den.
The terrorists holding the victims had reportedly made a four-point demand before agreeing to free the captives, including the release of detained terrorist commanders, payment of ransom, two Hilux vehicles and the implementation of Sharia-related law.
The Oyo State Government had consistently maintained that no ransom would be paid to secure the release of any victims.
The incident had triggered weeks of public anguish, with the Nigeria Union of Teachers embarking on a month-long strike in the state to press for the victims’ rescue before suspending the action in July.
It also drew federal intervention, with military and police authorities repeatedly assuring Nigerians that operations to secure the victims’ freedom were ongoing.
Reactions have trailed to trail the disclosure by the Minister of Defence, Mohammed Badaru Abubakar, that Nigerian soldiers now earn a minimum monthly salary of N100,000 following recent welfare reforms by the Federal Government.
Veterans and serving personnel have described the amount as grossly inadequate in the face of Nigeria’s rising cost of living, while some accused the Federal Government of failing to implement a more substantial salary review promised months ago.
The criticism comes amid renewed concerns over troop welfare, military funding, and the effectiveness of efforts to boost morale among personnel battling insecurity across the country.
A retired soldier, Abdul Isiak, argued that the current salary falls far short of what is needed to meet basic living expenses.
“It is not enough at all. What is N100,000 in the current situation of the country? It cannot go far. They should do better. If soldiers are paid more, they will be more motivated and committed to their duties,” he said.
Another retired military officer, Sergeant Zaki Williams, questioned the accuracy of the figure disclosed by the minister and described the amount as inadequate for personnel who risk their lives in service to the nation.
“I doubt if they are even paying up to that amount now. Even if they are, it is too little. Any government paying a soldier N100,000 in today’s economy is not serious enough about the welfare of its troops,” he said.
Williams noted that soldiers face enormous challenges and deserve better remuneration and working conditions.
Also reacting, the Coordinator of the Coalition for Concerned Veterans, Abiodun Herbert-Durowaye, said the salary does not reflect the sacrifices made by military personnel.
“How can that be sufficient for someone putting his life on the line for the country? Consider the cost of food, housing, transportation, and children’s education. N100,000 is far from adequate for those responsible for protecting the nation’s peace and security,” he stated.
The reactions followed comments by the Minister of Defence during an interview with News Central, where he disclosed that the minimum monthly salary of soldiers had increased from N49,000 to N100,000 under the current administration.
According to the minister, the Federal Government has made deliberate efforts to improve troop welfare despite funding challenges facing the military.
“When they started, a soldier was collecting N49,000 monthly. We tried so hard, now he’s collecting N100,000,” he said.
Musa, however, acknowledged that the defence sector remains underfunded and requires greater financial support to effectively address the country’s security challenges.
The minister also advocated stricter penalties for kidnapping, including the possibility of introducing the death penalty for convicted kidnappers, arguing that stronger deterrents are necessary to curb the growing wave of abductions across the country.
The debate over soldiers’ welfare comes at a time when the military continues to confront multiple security threats, with stakeholders insisting that improved remuneration, better equipment, and enhanced welfare packages are critical to boosting morale and operational effectiveness.
The Nigeria Immigration Service (NIS) has announced that travellers in the United States seeking Nigerian visas must now submit their applications directly at Nigerian diplomatic missions following the termination of its contract with a third-party visa processing company.
The new directive, which takes immediate effect, ends the role previously played by Online Integrated Solutions (OIS Services), which had been responsible for receiving and processing Nigerian visa applications through its centres across the United States.
In a statement issued on Thursday, the NIS Public Relations Officer, Akinsola Akinlabi, said visa applicants are now required to submit their documents directly at the Embassy of Nigeria in Washington, D.C., or at the Nigerian Consulates in New York and Atlanta until further notice.
The immigration service did not state the reason for ending its partnership with OIS Services.
However, Akinlabi assured applicants that adequate measures have been put in place at the embassy and consulates to ensure a smooth transition. He added that visa submission, processing and approval would continue without disruption.
He also urged prospective travellers to monitor the official communication channels of the Nigeria Immigration Service and Nigerian diplomatic missions in the United States for updates on visa application procedures.
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