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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.
For Squadron Leader Ahamefule Aham Man-Ugwueje, Monday was supposed to be another routine day of duty. Instead, the Nigerian Air Force pilot lost his life in the crash of an ATR-42 aircraft in Igbokoda, Ondo State, barely 16 days after his wedding.
Man-Ugwueje had married Flight Lieutenant Damilola Adekunle on September 19, 2026, in an elaborate ceremony in Abuja.
The couple exchanged vows at the Redeemed Christian Church of God, The Masters Place, Utako, Abuja, before proceeding to the Nigerian Army Conference Centre, Asokoro, for the reception.
Details of the wedding were contained in the couple’s invitation and posts shared by vendors who participated in the ceremony. A videographer, Beejay Creates, also shared footage from the event, identifying the couple as bride Damilola and groom Ahamefule.
Man-Ugwueje, who was identified by the Nigerian Air Force as the co-pilot of the ill-fated aircraft, was among the five crew members and 20 passengers who died in the crash.
The aircraft, NAF 931, was on a routine mission from Benin to Lagos when it crashed in a swampy area around Igbokoda in Ilaje Local Government Area of Ondo State.
The Nigerian Air Force on Tuesday confirmed that all 25 people on board died in the accident and released the names of the victims.
The Chief of the Air Staff, Air Marshal Sunday Kelvin Aneke, described the incident as a deeply painful moment for the Nigerian Air Force and the nation, while commiserating with the families, friends and colleagues of the victims.
The Air Force also ordered a comprehensive investigation into the circumstances surrounding the crash.
Man-Ugwueje, whose Facebook profile listed Umuahia, Abia State, as his hometown and Abuja as his current city, was the son of retired Group Captain Man-Ugwueje.
Meanwhile, Ondo State Governor, Lucky Aiyedatiwa, said no survivor was found after security agencies, emergency responders and local residents joined the search for victims at the crash site.
Aiyedatiwa said he was informed of the crash at about 10:30am on Monday after receiving a call from the chairman of Ilaje Local Government Area.
According to the governor, residents across the river from the Nigerian Navy base in Igbokoda heard a loud sound and subsequently saw the aircraft plunge into the swamp.
He said Navy personnel initially exercised caution while trying to determine whether there was a fire or explosion before moving towards the crash site.
“When they noticed that it’s just an accident, they didn’t see any sign of fire. So they moved in, trying to see if they could rescue the people,” the governor said.
Personnel of the local emergency management agency, residents and members of the Amotekun Corps later joined the rescue operation.
However, the search ended in tragedy after authorities confirmed that there were no survivors.
A Nigerian Air Force ATR-42 aircraft on a routine flight from Benin City to Lagos crashed into a swamp in Igbokoda, Ilaje Local Government Area of Ondo State, on Monday after reportedly disappearing from radar shortly after take-off.
The aircraft, with tail number NGR 931, lost communication with air traffic controllers at about 9:13am. A senior air traffic controller, who spoke anonymously, said repeated attempts to re-establish contact with the aircraft failed.
According to the source, personnel around Okitipupa later reported hearing a loud bang suspected to have come from the crash site.
The Minister of Aviation and Aerospace Development, Festus Keyamo, confirmed that the aircraft had disappeared from radar and that all efforts to raise it on radio were unsuccessful.
He later announced that the wreckage had been located near the Naval Base in Igbokoda.
Keyamo said 32 people—25 passengers and seven crew members—were on board.
The Nigerian Air Force confirmed the crash, saying the aircraft was on a routine mission from Benin to Lagos and that search-and-rescue operations had commenced in coordination with relevant authorities.
The crash site, located in a swampy creek, proved difficult to access, with military personnel, emergency responders and local fishermen joining the rescue operation.
Governor Lucky Aiyedatiwa said no survivor had been found as of Monday evening, although the authorities had yet to officially announce a death toll.
The governor said rescuers recovered parts of the aircraft, identification cards and military uniforms from the site.
President Bola Tinubu expressed sadness over the incident and directed the Nigerian Air Force to immediately commence a thorough investigation into the cause of the crash.
Investigators are expected to examine the wreckage, flight path, weather conditions, maintenance records and air traffic control communications. Efforts were also being made to recover the aircraft’s flight recorder, which could provide crucial information about its final moments.
The cause of the crash remains unknown.
Ondo State Governor, Lucky Aiyedatiwa, has disclosed that no survivor has so far been found following the crash of a Nigerian Air Force aircraft in Igbokoda, Ilaje Local Government Area of the state.
Aiyedatiwa made this known during an interview with Channels Television on Monday, saying local residents, security personnel and emergency responders had searched the crash site without finding anyone alive.
The governor said he received information about the incident at about 10:30am after the chairman of the local government contacted him.
According to him, residents living across the river from the Nigerian Navy base in Igbokoda heard a loud sound and subsequently saw the aircraft plunge into a swampy area.
He explained that personnel of the Nigerian Navy initially stayed back to determine whether the crash had triggered a fire or explosion before proceeding to the site.
“When they noticed that it’s just an accident, they didn’t see any sign of fire. So they moved in, trying to see if they could rescue the people,” Aiyedatiwa said.
He added that officials of the state emergency management agency, local residents and personnel of the Amotekun Corps later joined the search and rescue operation.
“But from the information we got, no single life was saved up to this moment. They could not see any living soul that was in that aircraft,” the governor said.
Aiyedatiwa said searchers recovered parts of the aircraft, including pieces of the wings, identification cards and military uniforms, which helped establish that the aircraft was a military plane.
“But they saw the ruins, some of the wreckage from the wings of the aircraft, you know, some ID cards, I was told, and then uniform. That was when they knew it was a military aircraft,” he said.
The governor described the incident as a painful development, noting that the crash occurred not only in Ondo State but also in his home local government area.
“So it’s a sad situation today. And we’re all really, really agreed as a Nigerian. And also it happens in my own state, not just my state, even in my own local government where I’m from,” he said.
Aiyedatiwa expressed sympathy for the military personnel involved, describing them as officers assigned to protect the territorial integrity of Nigeria.
The Nigerian Air Force had earlier confirmed that an ATR-42 aircraft with tail number NGR 931 crashed in Igbokoda while on a routine mission from Benin, Edo State, to Lagos.
Minister of Aviation and Aerospace Development, Festus Keyamo, said preliminary information indicated that 25 passengers and seven crew members were on board the aircraft.
The Nigerian Air Force said search and rescue operations were ongoing following the crash.
“If You Have Evidence Against Stanley Mbam, Charge Him; Otherwise, Release Him” — Oganiru Izzi
A socio-cultural organisation of Izzi extraction, Oganiru Izzi, has challenged Ebonyi State Governor, Chief Francis Ogbonna Nwifuru, to either release the state’s sacked Commissioner for Works, Mr Stanley Mbam, or charge him before a competent court if the government has credible evidence of wrongdoing against him.
The group said the continued detention of the former commissioner without a formal charge raises concerns about due process, constitutional rights and the rule of law.
The leader of Oganiru Izzi, Mr Godwin Mbam, made the demand while speaking with correspondents of National Issue Newspapers at the Crack Department of the Ebonyi State Police Command in Abakaliki.
Mbam condemned what he described as the prolonged detention of Stanley Mbam without allowing a court to determine whether he had committed any offence.
He challenged the state government to produce evidence if it believes the former commissioner committed a criminal offence.
“If there is credible evidence against him, charge him to court and let the court decide. If there is no case against him, he should be released,” Mbam said.
He also appealed to the Ebonyi State Police Command to uphold the Constitution and resist any pressure that could result in unlawful detention.
Vanco Flyover: “We Will Reveal the Full Details”
Mbam also issued a three-day challenge to Governor Nwifuru, declaring that if the former commissioner was not released or charged to court, his organisation would make public what it described as the “full details” of the Vanco Flyover project.
According to him, the proposed disclosure would address issues surrounding the project, including its funding, payments, contractual arrangements and other financial details.
“We will let the world know the full details of the Vanco Flyover and how the funds were utilised,” he warned.
He further challenged the state government to demonstrate transparency by making relevant documents concerning the project available to the public.
“What About the Alleged ₦1.5 Billion Forfeiture?”
The Izzi group also questioned what it described as the selective application of the state government’s anti-corruption campaign.
Mbam referred to allegations involving an account reportedly frozen by the Economic and Financial Crimes Commission (EFCC) and an alleged ₦1.5 billion forfeiture to the Federal Government.
He questioned why, according to him, the governor had allegedly not taken similar action if the facts surrounding the matter warranted it.
Mbam stressed that he was not opposed to the fight against corruption but insisted that any anti-corruption campaign must be comprehensive, transparent and applied equally.
“If Governor Nwifuru wants to fight corruption, let him fight it holistically. Nobody should be targeted while other serious allegations are ignored,” he said.
“If Nwifuru Says He Knows Nothing, We Will Produce the Facts”
Mbam further challenged Governor Nwifuru to publicly state whether he was aware of alleged corruption issues within the Ministry of Works.
“If Nwifuru publicly claims that he is unaware of corruption in the Works Ministry, I will make public the facts available to me. The facts will shock the state,” he declared.
He insisted that the matter should not degenerate into a political vendetta, arguing that the appropriate place to determine criminal liability is a court of law.
According to him, the people of Ebonyi State deserve clear answers concerning the Vanco Flyover and other issues involving public funds.
“Everybody Should Be Subject to the Law”
The Oganiru Izzi leader maintained that the controversy should be resolved through transparency, documentary evidence and due process.
“If there is a case, charge him. If there is no case, release him. The government cannot claim to be fighting corruption while abandoning the principles of justice and the rule of law,” he said.
Mbam warned that failure to address the issues could compel the organisation to make further disclosures concerning the Vanco Flyover and other matters it considers to be in the public interest.
By Our Correspondent
As Nigeria celebrates its 66th Independence Anniversary, the candidate for the House of Representatives seat representing the Ezza South/Ikwo Federal Constituency, Hon. Chief Kevin Tobias Chukwu, has called on Nigerians to remain hopeful and committed to building a better country.
Chukwu, also known as Ochiri Ozua 1 of Amagu Ikwo, made the call in an Independence Day message to Nigerians, particularly the people of Ezza South/Ikwo Federal Constituency and Ebonyi State.
He described the anniversary as not only a moment for celebration but also an opportunity to reflect on the state of the nation and the responsibilities of leaders in building a Nigeria that meets the aspirations of its citizens.
According to him, Nigeria’s journey since independence has been marked by significant challenges, with millions of citizens currently facing economic hardship, while young people continue to search for opportunities and many communities contend with insecurity and uncertainty.
Despite these challenges, the Ebonyi politician said the resilience of Nigerians remained a source of hope for the country’s future.
“I believe in the resilience of our people. I believe in the ingenuity of our youths, the strength of our women, the wisdom of our elders and the determination of ordinary Nigerians who wake up every morning and refuse to give up on this country,” he said.
Chukwu, however, stressed that hope must be matched by responsible leadership, arguing that public office should be viewed as a responsibility rather than a privilege.
He called for leadership that prioritises the protection of lives, creation of economic opportunities, provision of infrastructure, strengthening of institutions and responsible management of national resources.
The candidate also emphasised the need to create an environment where young Nigerians can pursue successful lives within the country and where hard work, merit and enterprise are rewarded.
He said Nigeria had “come too far to surrender to hopelessness,” urging citizens and leaders alike to remain committed to the country’s progress.
“A better Nigeria is still possible, but it will require responsible leadership, accountable institutions and citizens who refuse to give up on their country,” he said.
Chukwu concluded by expressing optimism about Nigeria’s future, declaring: “Nigeria will rise. Nigeria must rise. And together, we must build the Nigeria we deserve.”
He also paid tribute to the nation’s past heroes, praying that their sacrifices would continue to inspire the country.
“May the labour of our heroes past never be in vain,” he said, as he wished Nigerians a happy 66th Independence Anniversary.
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