News
Fuel marketers predict N170/litre, claim supply drop, NNPC disagrees
The pump price of Premium Motor Spirit, popularly called petrol, may rise from the current N162-N165/litre to N170/litre, while its depot price is projected to increase from N159/litre to N165/litre, oil marketers said on Thursday.
Dealers under the aegis of the Independent Petroleum Marketers Association of Nigeria and the Petroleum Products Retail Outlets Owners Association of Nigeria warned that the rising cost of petrol at depots would definitely warrant commensurate increase in pump price if not checked.
They also complained of PMS supply problems, stressing that many tank farms or depots had no petrol, which was why the few ones that had the commodity had to increase its price from the approved N148/litre price to N159/litre.
But the Nigerian National Petroleum Company Limited maintained its stance that it had enough petrol to last the country all through the festive season and beyond.
IPMAN and PETROAN members own bulk of the filling stations across the country and make purchases from depots before selling to final consumers at their various retail outlets.
Providing explanations for the rising cost of petrol at depots, owners of the facilities told our correspondent that it was because the recent agreement reached by key stakeholders in the downstream oil sector had yet to be effected by the Federal Government.
The NNPC had last week agreed to revert to naira-denominated invoices for excess capacity for coastal movement using the Investors and Exporters window rate for the time being, but this had yet to be implemented.
Depot owners had argued that the payment of the charges in dollars was a major hindrance to their effective participation in products distribution, saying this had led to scarcity in many cities.
On the possibility of a hike in the pump price of petrol soon, the National Public Relations Officer, IPMAN, Chief Ukadike Chinedu, said it was inevitable if the current increase in depot price persists.
Asked if the high depot cost could result in an increase in pump price, he replied, “Yes, because if you look at our profit margin, you will realise that it is regulated and fixed.
“And they (government) often talk about deregulation. But you cannot do deregulation in a regulated market. There is a band and you say you are doing deregulation.
“So for marketers, any moment from now, we will be pushed to take the band above N165 to N170 if this situation continues.”
Chinedu further argued that there had been problems with product availability, contrary to the position of the NNPC that it had enough petrol that would last for months.
The IPMAN spokesperson said, “I want you to know that the availability of petrol is a problem. Most tank farms don’t have products. And the place to go and buy product is from the few ones that have.
“And as a result, profiteering will set in and they will be selling at N159 to N160/litre. You (marketers) will now consider moving the product to your filling stations, particularly for marketers who don’t get bridging claims.
“Now this marketer will pay close to N100,000 to be able to send the product to his station. Now when the product gets to his station, that product’s cost is almost at N163/litre. So, will he use only N2 margin to sell petrol, knowing that he will pay staff, power bill, taxes, etc?”
Chinedu added, “Marketers should not be held responsible when the pump price increases. Many tank farms don’t have products. So marketers don’t have any option because if they buy, they sell.
“If there is surplus you will see marketers selling at N162/litre or below, but right now you hardly find anyone selling at that price. I also want to let you know that by next week, products will be close to N165/litre at depots.”
The President PETROAN, Billy Gillis-Harry, confirmed the position of IPMAN, noting that retailers of petrol at filling stations would adjust their prices upwards beyond the N165/litre if depots continued to sell at unapproved rates.
He said, “Private depot owners have increased their prices arbitrarily by themselves. Most retail outlets are very disciplined now by keeping the pump price within the band.
“But if the depots keep maintaining the N157 to N159/litre as they are doing, there will be no choice for retail outlet owners but to also add the commensurate price to it. That’s the reality.”
Gillis-Harry, however, stated that PETROAN had reported officially to the defunct Department of Petroleum Resources, which had now metamorphosed into two agencies based on the implementation of the Petroleum Industry Act.
“We will be having meeting with the new midstream and downstream regulator soon and this will be one of the issues that will come up when we meet,” the PETROAN president stated.
On why depot owners had raised their price beyond the approved N148/litre price, an official of the Depot and Petroleum Products Marketers Association of Nigeria told our correspondent that the NNPC had failed to implement an agreement that was reached by stakeholders last week.
The official said NNPC had agreed to revert to naira-denominated invoices for excess capacity for coastal movement using import and export window rate for the time being.
The source further explained that the dollar charges on port dues of fuel vessels by the Nigerian Maritime Administration and Safety Agency and the Nigerian Ports Authority had been a challenge to depot owners.
The official stressed that the insistence of the agencies was despite a presidential directive that had ordered both organisations to stop doing so.
According to the source, the NNPC is now charging in dollars for the use of its vessels contrary to the naira charges previously done.
He stressed that the cost was now huge on depot owners, as this was the basic reason for the hike in depot price to N159/litre.
The Group General Manager, Group Public Affairs Division, NNPC, Garba-Deen Muhammad, could not be reached for comment, as he did not answer calls to his phone.
He had yet to respond to a WhatsApp message sent to him on the matter at the time of filing this report.
However, Muhammad had said in a statement issued recently that the NNPC had over 1.7 billion litres of petrol in stock and more product was expected to arrive Nigeria daily over the coming weeks and months.
He said it was unnecessary to entertain any fear of scarcity of petrol throughout the festive season and beyond.
He also stressed that NNPC was also not aware of any plan by government to cause an increase in the pump price of petroleum.
PUNCH.
Governor Peter Mbah of Enugu State has reassured the public that safety remains the overriding priority of Enugu Air following Thursday’s runway excursion involving one of the airline’s aircraft at Benin Airport.
Reacting to the incident for the first time in a statement personally signed on Friday, the governor expressed sympathy with the passengers and crew members on board the aircraft, while thanking God that no lives were lost and no injuries were recorded.
The Embraer E170 aircraft, operating as Flight 4264 from Lagos to Benin, experienced a runway excursion after landing at Benin Airport on Thursday.
Mbah said the state government was closely monitoring the situation and pledged full cooperation with aviation authorities investigating the incident.
“The Enugu State Government is aware of the incident of a runway excursion affecting Enugu Air, Embraer E170, Flight 4264, operating into Benin Airport from Lagos on Thursday, July 23, 2026.
“The government empathises with the 63 passengers and five crew members on board the aircraft over the traumatic experience and is thankful to God that no life was lost and no injuries have so far been reported,” the governor said.
He commended the Nigerian Safety Investigation Bureau (NSIB) for swiftly launching an investigation to determine the circumstances surrounding the incident, assuring that Enugu Air would cooperate fully with investigators and relevant regulatory agencies.
“The government commends the swiftness of the Nigerian Safety Investigation Bureau (NSIB) in embarking on the ongoing investigation to determine the circumstances and factors that may have led to the incident. The government will ensure the full cooperation of its going concern, Enugu Air, with the investigation and regulatory authorities,” Mbah stated.
While urging the public to await the outcome of the investigation, the governor maintained that the airline operates under stringent safety protocols that place passenger welfare above commercial interests.
“While the outcome of the investigation is awaited, the government assures the public that the operations of Enugu Air are guided by the highest safety standards. The airline is founded on a corporate culture that places safety above profit and schedule, and its quality assurance and quality control systems stipulate a safety threshold that is considerably higher than the industry benchmark,” he said.
Mbah said the airline’s uncompromising safety culture had contributed significantly to the growing confidence and patronage it had enjoyed since commencing operations.
“This accounts for the growing confidence and patronage the airline has continued to enjoy from both passengers and industry stakeholders. Enugu Air will therefore continue to serve its teeming customers and abide by its utmost commitment to safety, professionalism, and a sense of hospitality,” he added.
The governor also expressed appreciation to Nigerians for the widespread support and goodwill shown to the airline in the aftermath of the incident, noting that many passengers had continued to share positive experiences about flying with Enugu Air.
“We wish to express our profound gratitude to Nigerians for the outpouring of solidarity since the unfortunate incident. Quite uncommonly, Nigerians have continued to share their positive experiences with Enugu Air since it was launched a year ago. This matters so much to us as a government at this time,” Mbah said.
The runway excursion involving the state-owned carrier has drawn national attention. However, with all 63 passengers and five crew members safely evacuated, attention has now shifted to the outcome of the ongoing investigation by aviation authorities.
Amupitan gave the assurance during a courtesy visit to former Head of State and Chairman of the National Peace Committee, General Abdulsalam Abubakar (retd.), at his residence in Minna, Niger State, on Friday.
The commission’s chairman led a delegation comprising National Commissioners, the Secretary to the Commission, directors and his technical aides.
Amupitan described Abubakar as “the father of democracy in Nigeria”, noting that his transition to civilian rule in 1999 marked a defining moment in the country’s democratic history.
The INEC chairman said the commission regarded the former Head of State “not merely as a statesman but as a pillar of support for INEC.”
He also commended Abubakar’s role as Chairman of the National Peace Committee, describing its Peace Accord initiative as “a moralising influence on Nigeria’s political ecosystem.”
According to INEC, Amupitan said the initiative had provided political actors with a platform to commit to non-violence, thereby strengthening “the sovereignty of the will of the Nigerian people.”
The INEC chairman told Abubakar that, regardless of the pressures confronting the commission, it remained committed to ensuring that the will of Nigerians as expressed at the polls would prevail.
He said, “The Commission’s determination under my leadership was to see ordinary Nigerians go out and vote, confident that their votes would be duly counted and reflected in the outcome of elections,” describing this as “the core assurance INEC owed the electorate.”
Amupitan also formally confirmed the dates for the 2027 general elections.
According to INEC, the Presidential and National Assembly elections will hold on January 16, 2027, while the Governorship and State Houses of Assembly elections will take place on February 6, 2027.
Abubakar, in turn, called on Nigerians to support INEC ahead of the 2027 general elections.
President Bola Ahmed Tinubu, GCFR, Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, has approved the expansion of the Nigerian Army’s structure from eight to twelve divisions—a landmark move to enhance the country’s security architecture and improve the operational effectiveness of the Nigerian Army.
In a statement, Special Adviser to the President on (Information & Strategy) Bayo Onanuga says, “this approval underscores the President’s unwavering commitment to equipping the Armed Forces to address Nigeria’s evolving security challenges effectively and to strengthen national defence capabilities further.”According to the statement, “the expansion builds on the Administration’s sustained investments in the Armed Forces, including approval for the recruitment of 28,000 additional personnel, acquisition of critical military platforms and equipment, improvements in troop welfare, and ongoing support for operational readiness and force modernisation.”Under the new structure, the Nigerian Army will operate twelve divisions, strategically positioned across the country as follows:1. 1 Division Headquarters – Kaduna (Kaduna, Kano, Katsina and Jigawa States)2. 2 Division Headquarters – Ibadan (Oyo, Osun, Ekiti and Ondo States)3. 3 Division Headquarters – Jos (Plateau, Bauchi and Gombe States)4. 5 Division Headquarters – Makurdi (Benue, Nasarawa and Kogi States)5. 6 Division Headquarters – Port Harcourt (Rivers, Akwa Ibom and Cross River States)6. 7 Division Headquarters – Maiduguri (Borno and Yobe States)7. 8 Division Headquarters – Sokoto (Sokoto, Kebbi and Zamfara States)8. 9 Division Headquarters – Ilorin (Kwara and Niger States)9. 10 Division Headquarters – Jalingo (Taraba and Adamawa States)10. 81 Division Headquarters – Lagos (Lagos and Ogun States)11. 82 Division Headquarters – Enugu (Enugu, Anambra, Abia, Ebonyi and Imo States)12. 83 Division Headquarters – Benin City (Edo, Delta and Bayelsa States).The establishment of the new Divisions in Makurdi, Ilorin, Jalingo and Benin City will significantly improve command and control, decentralise operational decision-making, strengthen border security, enhance the protection of critical national infrastructure, improve counter-insurgency and internal security operations, and ensure faster military response to emerging threats nationwide.Implementation of the new force structure will be done in two phases.
The Ndigbo Unity Forum (NUF) worldwide, a pan-Igbo socioeconomic pressure group, has urged the Federal Government to direct the Nigeria National Petroleum Corporation Limited (NNPCL) to supply Dangote Petroleum Refinery adequate crude.
The Chairman of NUF, Chief Augustine Chukwudum, made the call on Wednesday in Enugu while reacting to Dangote Petroleum Refinery’s move to start direct sales of refined Petroleum products in dollars.
It would be recalled that a top management official of the Dangote Group said that its refinery was receiving just four million barrels of crude oil monthly under the arrangement, instead of about 13 million barrels envisaged after President Bola Tinubu’s 2024 directive.
The refinery had attributed its decision to switch from naira-denominated fuel sales domestically to dollar transactions to the crude supply shortfall, saying it would also increase exports of refined petroleum products to earn foreign exchange.
Chukwudum called on the Federal Government to intervene urgently before things get out of hand and Nigerians suffer the more.
According to him, fuel price remains major determinant of prices of other commodities and services in the country as transport cost depends on.
“Things are bound to get worst if the Federal Government neglect to take immediate and decisive actions meant to better the life of the citizens.
“NUF is rasing this alarm because this administration is behaving as if they are not answerable to the people their are supposed to be serving.
“The Federal Government should direct NNPCL to supply all the crude oil needed by Dangote Refinery since the company has the capacity to meet local or domestic petroleum needs of the country.
“The government must stop all forms of fuel importation because that money been used for importation is a waste and put a pressure on our fragile foreign reserve as a nation,” he said.
The NUF boss noted that the refinery company must be allowed to pay in naira with this move, suffering of citizens would be curtailed.
Chukwudum also reiterated the call of the group for the Federal Government to set up judicial panel of inquiry to look into the account of NNPCL for some years now.
A commotion reportedly erupted at the Independent National Electoral Commission (INEC) office in Onitsha South Local Government Area of Anambra State after some officials were accused of demanding ₦2,000 from applicants before processing voter registration and Permanent Voter Cards (PVCs).
The allegation surfaced in a video circulating on social media, which showed what appeared to be a heated confrontation between applicants and officials at the electoral commission’s office.
According to a resident who narrated the incident in the video, some INEC officials allegedly insisted that applicants pay ₦2,000 before their voter registration or PVC processing could be completed.
The situation reportedly escalated when one of the applicants challenged the alleged demand, insisting that voter registration and PVC-related services are free and should not attract any payment.
The applicant was said to have confronted the officials and attempted to record the exchange with a mobile phone, triggering a heated argument that attracted other applicants and bystanders.
Although raised voices and a commotion could be heard in the footage, the circumstances surrounding the incident could not be independently verified.
The video has since sparked reactions on social media, with many Nigerians condemning the alleged extortion and calling on INEC to investigate the incident and sanction anyone found culpable.
INEC has consistently maintained that voter registration services are free of charge. These include fresh registration, collection of PVCs, transfer of voter information, correction of personal details, and replacement of lost or damaged PVCs.
The commission has also repeatedly urged members of the public to report any cases of extortion, bribery or illegal charges involving its permanent or ad hoc staff during voter registration and PVC distribution.
As of the time of filing this report, INEC had not issued an official statement specifically addressing the allegations involving its Onitsha South Local Government Area office.
The incident comes as the electoral commission continues its nationwide Continuous Voter Registration (CVR) exercise ahead of the 2027 general elections.
INEC has also introduced an online self-service platform to enable prospective voters and existing registrants to complete several registration-related processes conveniently, while reiterating that voter registration services remain free of charge.
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