News
Dangote refinery can’t change the high price of fuel – NNPC
The local production of Premium Motor Spirit, otherwise known as petrol, by Dangote Refinery, Port Harcourt Refining Company and others in Nigeria is not going to change the pump price of the commodity, the Nigerian National Petroleum Company Limited has said.
The NNPCL’s Group Chief Executive Officer, Mele Kyari, who disclosed this during an interview on Arise television in Abuja on Thursday, stressed that the notion that petrol prices would reduce once the country starts domestic production was false.
Kyari confirmed that the Dangote Refinery, which was inaugurated on May 22, 2023, by former President Muhammadu Buhari, would start pushing out products by the end of July and early August.
He also stated that the Port Harcourt Refinery would be delivered by the end of the year, adding that the facility was expected to further boost local production of petrol.
But Kyari declared that despite the volume of petrol being expected from these facilities, the cost of the commodity would not reduce, regardless of the fact that the product was produced locally.
“There is a notion that if the product is processed locally, prices will reduce. Let me make it clear that it is not going to change anything. If you produce locally, the refineries will also input the cost of production and other things and it will be sold at the current price.
“There will also be no subsidy when local production starts because there is no cash-to-back subsidy, this country no longer has the resources to continue with subsidy,” Kyari stated.
Fuel queues
Speaking on when the fuel queues being witnessed across the country would clear, during another interview on Channels TV, the NNPCL boss said the queues would not exceed Saturday.
“I don’t see it staying beyond another day or two, maximum. It can actually be on Saturday. We have supplies. The key trouble with the PMS system is supply, but I have supplies.
“There are over 810 million litres of PMS in depots, tanks and fuel stations across the country, so you don’t have the problem of transferring those from marine to land, you already have them on the ground,” he stated.
He validated the PMS pricing document for various states that trended on Wednesday on the internet, stating that the document was from the NNPCL.
“You have seen a document in the space out there. Every company does this. It is a marketing document. It was not a price announcing document, every company keeps this record and adjusts it appropriately on the basis of changing conditions in the market.
“So what you saw was just an internal company document that found its way into the internet. It is an NNPC document but it was not intended to be an announcement and is not an announcement, because it can change the next day,” Kyari stated.
On whether there was enough product in-country, he said, “Today I have 1.8 billion litres of PMS and that means that if we don’t do anything, I’ll have sufficient fuel for the next 30 days in my hands.
Kyari explained that the company had over 800 million litres of petrol on land, stored in filling stations, tank farms and depots, while its total stock for both marine and land stood at about 1.8 billion litres.
“But, of course, the way we supply is not this way, so we maintain this level of supply consistently. That means you will see the arrival of products every day so that you continue to maintain that level of safety.”
‘Subsidy not realistic’
Speaking to journalists after a meeting with the National Chairman of the All Progressives Congress, Senator Abdullahi Adamu, at the party secretariat in Abuja on Thursday, Kyari revealed that the administration of President Bola Tinubu had concluded arrangements to have one of the four refineries repaired and operating at an optimal level before the end of the year.
The NNPCL boss argued that it was no longer justifiable to continue subsidising the commodity given the high opportunity cost the Federal Government was suffering from funding it.
Kyari, who was received by the APC chairman and members of the National Working Committee at about 12.30 pm, confessed that the country could no longer sustain the expensive subsidy regime.
According to him, over 38 per cent of the total fuel distributed in the country was consumed by Lagos, Abuja, Kano and Rivers.
Kyari explained that following the hike in pump price and the resultant effect on commercial fare, the president was working out some palliative measures to ease the pains of Nigerians.
He also added that there was an ongoing process of rehabilitation to ensure one of the refineries was ready this year.
Kyari lamented that despite its N2.8tn indebtedness to the NNPCL, the Federal Government had yet to release funds for 2022 and 2023 subsidies.
He said, “There was a subsidy in 2022 but in 2023, not a single naira was provided for the purpose. And ultimately while we held back our fiscal obligations, we still have a net balance of over N2.8tn that the federation should have given back to the NNPC.
‘’For any company, when you have negative N2.8tn, there is no company in the whole of Africa that will lend to you. You cannot have receivables. The provision of subsidy is there but absolutely there is no funding for it. It means it is only on paper. It doesn’t exist.
“We can no longer bear it. If we continue, we will run into defaults and the default of NNPC is the default of Nigeria. Once NNPC goes into default and liquidity, it affects every borrowing done by the country, even the sub-nationals. Your lenders will come back to you and say your country can no longer pay.
‘’The only way you can stop this is to stop this conversation around subsidy. It is why Mr President announced that the subsidy is gone. In 24 hours, the bond market appreciated. It is nothing else other than the statement around subsidy and balancing of the apex market. These two elements are a major concern for every investor all over the world. Every partner that we have is worried about.’’
Inflation expected
Kyari acknowledged that the price increase would trigger inflation, noting that the market forces would determine what happens subsequently.
He noted, “Before today, the average subsidy level was N400bn every month. There is nothing anybody can do about it. There is this common argument that the masses will suffer. I agree that once you increase prices of this proportion, as it has happened, it will have an impact on inflation. There is no doubt about it. The market determines what happens next. Even inflation in many countries goes up when you have economic indices become difficult.
“Mr President’s target is to have seven per cent growth of GDP. You cannot have it if you have this disruption in your demands and consumption pattern. Very many of us here have at least two cars in our houses including myself. When you buy fuel of 100 litres in an SUV, you are literally subsidising three litres with N100 for all of us.
‘’Even the consumption itself is clearly skewed in locations and states where the level of economic activities are higher than the others. It is very understandable and that is why people can afford it in Abuja, Lagos, Port Harcourt, and Kano. So over 38 per cent of the total fuel distributed in this country ends up in these places. All the other parts of the country suffer for it and you can see the relativity.’’
Kyari submitted that the price at which petrol was being sold now is the current market price of the commodity.
‘’The price you are seeing today at our stations is the current market price of the commodity and what this means is that prices in the market can go down at any time and the market will adjust itself. The beauty of this is that there will be a new entrance because oil marketing companies now will want to invest, they have been reluctant to come in because of the subsidy,’’ he stated.
With the latest development, the NNPCL chief said the market would regulate itself, adding that oil marketing companies could now import products or buy locally-produced ones and take them into the market and sell at commercial prices.
He added, ‘’You would see competition even with NNPCL, and by law, the company can’t do more than 30 per cent of the market going forward. So competition will surely come in and definitely, the market will regulate the price itself. It is an instantaneous price and in two weeks, you will see the adjustment that is happening in many jurisdictions.
‘’But ultimately, you would see changes in price downwards and that is very likely. Efficiency will come in and every lacuna in the sector will be taken out because of the new situation.
Five persons, including four male students and a young woman, have reportedly lost their lives in a fatal road accident involving a vehicle in the convoy of Niger State Governor, Mohammed Umaru Bago, in Minna, the state capital.
The tragic incident occurred on Monday at Gidan Mangoro community along the Minna–Bida Road when a Hilux van attached to the governor’s convoy reportedly collided head-on with a private Peugeot 206 car.
The female victim, identified as Mrs Nafisa, was reportedly driving the Peugeot when the accident occurred. She was said to be a Programme Manager at Labspace, an NGO, and founder of Wosh Mart Service Ltd.
According to Vanguard, an eyewitness and resident of Gidan Mangoro, Abdullahi Musa, said the accident happened at approximately 11:35 a.m. while the governor and his entourage were returning from Bida.
Bago had reportedly visited the Etsu Nupe and Chairman of the Niger State Council of Traditional Rulers, Alhaji Yahaya Abubakar, to commiserate with him over the death of Sagi Nupe, Hajia Aisha.
Musa alleged that the accident resulted from wrongful overtaking by the Hilux driver, claiming that the government vehicle veered into the lane of the oncoming Peugeot.
“The accident was caused by wrongful overtaking by the Hilux in the governor’s convoy. The other car was in its lane when the Hilux rammed into it,” he said.
The four male occupants of the Peugeot were suspected to be postgraduate students of the Federal University of Technology, Minna.
A staff member of Minna General Hospital, where the victims were evacuated, disclosed that three persons died at the scene, while two others later succumbed to their injuries.
Some of the injured victims were subsequently transferred to the Ibrahim Badamasi Babangida Specialist Hospital for further medical attention.
A former local government chairman in Niger State, who was reportedly travelling in the Hilux, also sustained fractures to his legs but was said to be alive as of the time of the report.
Confirming the incident, the Niger State Sector Commander of the Federal Road Safety Corps (FRSC), Aishat Sa’adu, said personnel of the agency arrived at the accident scene after the victims had already been evacuated.
Similarly, the Police Public Relations Officer of the Niger State Command, SP Wasiu Abiodun, confirmed the crash, stating that investigations had commenced to establish the circumstances surrounding the tragedy.
“The accident occurred this morning and we are investigating it,” Abiodun said.
The police, however, did not immediately release the identities of the deceased or officially confirm the casualty figure.
Clarify the confirmed casualty figure
Remove repeated accident attribution
Use more cautious identification language
By Chinedu Sabastine
Mainpower Electricity Distribution Limited (MEDL) has announced a planned power outage in Nsukka and surrounding communities from November 5 to 10, 2026, to enable the Transmission Company of Nigeria (TCN) to carry out maintenance work on equipment at its Nsukka station.
The outage, scheduled to run daily from 9 a.m. to 5 p.m., will affect electricity supply to customers served by the University of Nigeria, Nsukka (UNN), SUMAS and Orba 33kV feeders.
The announcement comes amid a current reduction in electricity supply across Enugu State, which MEDL has attributed to a drop in energy generation and low system frequency, forcing TCN to implement load shedding.
In a public notice issued on Monday, MEDL’s Head of Communications, Emeka Ezeh, said the planned maintenance was necessary to improve electricity supply in the affected areas.
“The planned outage is to enable the TCN technical team to carry out maintenance work on some equipment at the station,” Ezeh said.
He added that the exercise was aimed at improving the reliability and quality of electricity supply to customers.
The communities expected to experience interruptions include Ukopi, Opi Agu, Eha-Alumona, Orba Town, Obollo-Afor, parts of Obollo-Eke, Enugu Ezike, Ibagwa, Nkalagu Obukpa, Okpaligbo, Iheaka, Edem Ani, Agbani, Uzo-Uwani, Obimo, Nkpologu, Lejja, Nguru, Aku and Ogbede.
Other affected locations are Odim Gate, Nkpor, UNN, Nru, Ede Oballa, El Tabera Estate, Ikenga Estate, Wilson Company, Umakashi, Isiakpu, G.R.A. and Ogige Main Market, alongside surrounding communities.
MEDL apologised to customers over the anticipated inconvenience and appealed for their patience and understanding during the maintenance period.
“The exercise is necessary to facilitate essential technical work aimed at improving the reliability and quality of electricity supply to customers,” the company said.
Why electricity supply has dropped
In a separate public notice issued on Monday, the company explained that the current reduction in electricity supply across Enugu State resulted from a decline in energy generation, which had affected the stability of the power system.
MEDL said the situation had resulted in low system frequency, prompting TCN to ration available electricity through load shedding.
“The current reduction in power supply availability is due to a drop in energy generation, which has resulted in low system frequency,” the company stated.
It added that the situation had necessitated TCN’s decision to implement load shedding of the available energy.
“Consequently, the energy allocation to MEDL has been affected, limiting its ability to meet the daily service-level commitments,” the statement said.
The company, however, assured customers that it was monitoring the situation and distributing the available electricity allocation across its network.
“MEDL wishes to assure its customers that it is closely monitoring the situation and will continue to distribute the available energy allocation fairly across its network,” Ezeh said.
The company expressed optimism that normal electricity supply would soon be restored, while regretting the inconvenience caused by the reduction in supply.
It also thanked customers for their patience, understanding and continued cooperation.
Enugu State Governor, Dr. Peter Mbah, has taken steps to address the rising cost of renting accommodation in the state by forwarding an executive bill to the State House of Assembly seeking to regulate agency and legal fees charged by property agents and lawyers.
The proposed legislation seeks to amend the Landlord and Tenant Law, Cap. 101, Revised Laws of Enugu State, 2004, with a view to protecting tenants from excessive charges while ensuring fairness and transparency in the property market.
Speaker of the Enugu State House of Assembly, Rt. Hon. Uche Ugwu, disclosed this in a statement posted on his Facebook page on Monday, October 26, 2026.
Ugwu explained that the executive bill would complement an earlier legislative proposal sponsored by the member representing Nkanu East State Constituency, Hon. Anthony Okey Mbah, which had already passed first and second readings and undergone a public hearing.
According to the Speaker, the proposed amendment would introduce measures to regulate estate agents, place limits on agency and legal fees, and establish clear procedures for the collection and refund of caution fees.
The legislation also seeks to check arbitrary rent increases and minimise disagreements between landlords and tenants over property damage through joint inventories and professional valuations where necessary.
Ugwu noted that the Assembly would harmonise the proposals to produce comprehensive legislation that addresses longstanding concerns in the state’s housing sector.
“When we are done with dotting the i’s and crossing the t’s, we shall have a document that shall make tenancy-related charges more transparent and predictable, control and limit agency and legal fees, establish a formal regulatory framework for agents,” he stated.
He added that the proposed law would provide a structured mechanism for handling caution fees and refunds while creating an enabling environment for investors in the housing sector.
The development comes amid growing concerns among residents over the financial burden associated with securing rented accommodation, particularly agency commissions, legal charges and other tenancy-related payments.
The Speaker maintained that the initiative was consistent with Governor Mbah’s broader development agenda of positioning Enugu as an attractive destination for investment, business, tourism and residential living.
“According to the Governor’s vision, indeed we can make Enugu the preferred destination for business, investment, tourism and living,” Ugwu added.
The proposed amendment, when passed into law, is expected to provide a clearer legal framework governing the relationship between landlords, tenants and property agents across the state.
By Okey Maduforo, Awka
The ongoing modernisation of the Onitsha Main Market in Anambra State is expected to be completed ahead of the Christmas festivities, with over 6,000 shops and modern facilities designed to boost commercial activities in the historic market.
The project, which commenced two months ago, has reached 90 per cent completion and is being executed on a 24,000-square-metre expanse of land, with an Independent Power Plant (IPP) designed to provide uninterrupted electricity to the market and its environs.
Other facilities include five additional boreholes to complement the existing one, a health centre, modern toilet facilities, a motor park, solar-powered streetlights, CCTV surveillance cameras and four access roads.
The market will also feature three major entrance gates, eight minor gates and a dedicated firefighting station to enhance security and emergency response.
Speaking during an inspection of the project, the Commissioner for Housing, Arc. Henry Arinze, said the initiative was designed to provide a conducive business environment for traders and their customers.
“The project is aimed at providing ease of doing business for both traders and their customers, and with over 6,000 shops in the market, we are good to go,” he said.
Arinze explained that the project forms part of Governor Charles Soludo’s urban regeneration programme, adding that the provision of an Independent Power Plant would enable traders to extend commercial activities from the current closing time of 5 p.m. to 10 p.m.
“We did not demolish the market shops. What we are carrying out is part of the urban regeneration programme of the state government. With the new facilities, the market will remain open until 10 p.m. as against the present 5 p.m. closing time,” he stated.
He further disclosed that construction activities were deliberately restricted to nighttime and Sundays to minimise disruptions to trading.
“We would have gone farther than this, but we work only at night and on Sundays so that traders can continue their businesses while construction is ongoing,” he explained.
Also speaking, the Special Adviser to Governor Soludo on Projects Monitoring, Prof. Ebuka Nwankwo, recalled that the market had not witnessed any major government-led modernisation since its post-civil-war reconstruction in 1971 under the administration of the then Sole Administrator of East Central State, the late Ukpabi Asika, with assistance from the Federal Government.
According to him, the market has experienced four major fire incidents since its reconstruction, with affected traders largely undertaking the rebuilding of their shops themselves.
“Since 1971, when the market was reconstructed after the war, there have been four fire incidents, with traders carrying out the reconstruction of their affected shops. The state government is not only desirous but deliberate about restoring the past glory of the market,” Nwankwo said.
The Head of Civil and Structural Engineering, Prof. Henry Aginam, commended the Anambra State Government for embarking on the project, describing it as a bold intervention in the redevelopment of the commercial hub.
He expressed satisfaction with the quality of construction materials and the calibre of professionals engaged in executing the project.
Similarly, the representative of the Council for the Regulation of Engineering in Nigeria (COREN), Engr. Prof. Akaolisa Ezeadi, gave the project a positive assessment, noting that the construction work complied with professional standards and engineering best practices.
Ezeadi said the regulatory body was satisfied with the quality of work so far and would continue its monitoring visits until the project was completed.
In his remarks, the Commissioner for Commerce and Industry, Mr. Nonso Ebonwu, described the market modernisation as a major step towards reviving the commercial fortunes of Onitsha and attracting increased patronage from within and outside Nigeria.
He disclosed that a similar redevelopment initiative was also being undertaken at the Nkwo Nnewi Auto Parts Market.
The Chairman of the Onitsha Main Market Traders Association, Chief Chijioke Okpalaugo, expressed satisfaction with the transformation of the market, noting that patronage had continued to increase despite the ongoing construction.
He reaffirmed the traders’ support for the Soludo administration and expressed optimism that the completed project would further strengthen Onitsha Main Market’s position as one of the leading commercial centres in West Africa.
ENUGU, October 25, 2026 — A new association, Online Media Professionals (OMP), has been established to unite online media practitioners, protect their interests and promote professionalism in Nigeria’s media industry.
The association, according to a communiqué issued in Enugu on Sunday, aims to provide a common platform for practitioners to collaborate, share ideas and address challenges affecting their work and welfare.
OMP said the growing influence of online publications in informing the public, shaping public discourse and holding public officeholders accountable had made it necessary for practitioners to organise under a recognised professional body.
The association will bring together individuals who own or work with online media platforms, providing opportunities for cooperation, professional development and engagement with relevant institutions and stakeholders.
It also plans to establish working relationships with government officials, security agencies, educational institutions, corporate organisations and other bodies whose activities affect the media industry and society.
According to the communiqué, OMP is beginning its activities in the South-East, with plans to expand into a national organisation representing online media professionals across Nigeria.
The association said its long-term objectives included building a credible professional body capable of giving practitioners a collective voice, promoting responsible journalism and providing a platform for addressing issues affecting members.
It added that the growth of online media must be accompanied by professionalism, accountability and respect for the responsibilities associated with informing the public.
OMP also pledged to encourage cooperation among practitioners and promote standards capable of strengthening public confidence in online publications.
The association noted that achieving its objectives would require the commitment of members, a clear sense of purpose and programmes designed to address their needs.
It therefore called on online media practitioners across the South-East and other parts of the country to identify with the initiative and contribute to building a strong professional association.
Membership, according to the communiqué, is open to professionals who own or work with online media publication platforms and are willing to support the association’s objectives.
The communiqué was signed by Jude Chinedu and Chukwumerije Aja on behalf of the Communiqué Drafting Committee of Online Media Professionals.
The emergence of OMP marks an effort to strengthen the professional identity of online media practitioners and create opportunities for collaboration and growth within Nigeria’s evolving media landscape.
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