News
Fuel price may drop as Dangote, NNPC agree on N766/litre
Marketers have demanded direct access to Premium Motor Spirit (petrol) from the Dangote refinery, criticising the firm grip of the Nigerian National Petroleum Corporation on the market.
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said the market should be open for all in line with the willing-buyer and willing-seller commitment earlier made by the corporation.
The NNPCL had last Saturday said it was not the sole off-taker of products from the Dangote refinery, adding that the refinery was free to sell its petrol to any marketer.
But a week after the statement, the Federal Government announced that the company would be the sole buyer of petrol from the refinery.
At a press briefing in Abuja on Friday, the Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, noted that interested marketers would have to buy the product from the national oil firm through its trading company.
The minister, represented by the Executive Chairman of the Federal Inland Revenue Service, Dr Zacceus Adedeji, also announced that the Dangote refinery would commence the distribution of petrol to marketers on Sunday with an initial 25 million litres per day.
He said, “I am glad to announce that all agreements have been put in place, and the loading of the first batch of PMS, as already announced by NNPC, will commence on Sunday, September 15, 2024. And from October 1, NNPC will commence the supply of crude oil to the Dangote refinery to be paid in naira.
“In return, Dangote refinery will supply PMS and diesel of equivalent value to the domestic market to be paid in naira. But for now, PMS will only be sold to NNPC. NNPC will then sell to various marketers.”
Reacting, Ukadike said the market should be liberalised.
“It should be open for all in line with the willing-buyer and willing-seller comments made by the NNPC. We are also looking at how to build our logistics and come up with our price,” he stated.
Also, the National President of the Petroleum Products Retail Outlets Association of Nigeria, Billy Gillis-Harry, raised concerns over the risks of creating a new domestic monopoly in the oil and gas sector.
Gillis-Harry said, “Right now, even on Saturday, that business (petrol) is going to start rolling out tomorrow (Sunday), we don’t know what the price might be. Nobody has informed us about anything; we are not aware of what the government is doing.
“We don’t know any of the pricing templates yet or the matrix that will bring about the pricing template. We have been asking Dangote or anybody that is in charge of this transaction to be transparent, but somehow, we have not got any of that information.
“We are about to leave NNPC monopoly from importation and now we are also going to have that in a domestic environment, that portends danger for the industry.”
300 NNPC trucks load fuel today
The NNPC on Saturday said it had mobilised 300 trucks to lift PMS from the Dangote refinery today.
The spokesperson for the corporation, Olufemi Soneye, told one of our correspondents that the mobilisation of trucks to the refinery was based on the agreement reached by both parties as regards the lifting of petrol from the $20bn Lekki-based facility.
In a post on his official X handle that showed some trucks lining up at the refinery, Soneye said, “NNPC Ltd trucks are arriving at the Dangote refinery in preparation for the scheduled petrol loading on Sunday, September 15, 2024. By the end of today (Saturday), at least 300 trucks will be stationed at the refinery’s fuel loading gantry.”
Reacting to this while speaking to Sunday PUNCH, Soneye said, “Yes, trucks have indeed been mobilised there. Nobody has picked up anything yet. NNPC was given a September 15 date; it is lining up trucks there so that if they open the gates for it to move in and load, then it will load.”
Oil marketers confirmed that the NNPC had started moving trucks to the plant to load products, adding that the national oil company would also load PMS using its vessels.
They also noted that the price of Dangote petrol had not been made public yet, stating that independent marketers would only buy the commodity from the NNPC for now.
The National Operations Controller of IPMAN, Mustapha Zarma, said, “Independent marketers have not been given any offer by Dangote to ascertain the actual off-take price.
“So, for now independent marketers will be taking the product from NNPC, but hopefully in the next few weeks, we may start getting it directly from Dangote.”
Zarma noted that the NNPC would offtake the product from the Dangote refinery using tankers and ships that would move the PMS to coastal depots in Warri and Port Harcourt.
Dangote petrol at N766/litre
Sunday PUNCH gathered that the Dangote refinery would sell its petrol at N766 to the NNPC.
Multiple sources from the Federal Ministry of Petroleum Resources, NNPC, and major energy marketers confirmed that the deal to supply crude to the Dangote refinery in naira was a key factor that led to the PMS price.
“What we are going to see based on the deal between NNPC and Dangote is similar to the DSDP (Direct Sale of crude oil and Direct Purchase of petroleum products) transactions that used to exist between NNPC and foreign refineries in the past.
“And this has really impacted positively on the price of petrol that Dangote is selling to NNPC, because the cost is around N766/litre. But I can’t tell how much NNPC is going to sell to marketers now,” a major marketer, who spoke to Sunday PUNCH in confidence due to lack of authorisation to comment on the matter, stated.
Another senior aide to President Bola Tinubu, who spoke on condition of anonymity, confirmed that the petrol would be sold at 766/litre.
Pump price may reduce
Reacting to the Dangote fuel price, a senior IPMAN official said if marketers could get the product at N766, they would need to add the cost of transportation, levies, and other margins.
He said, “Give and take, we can sell at N790 in Lagos. In the far north, it may be N820 per litre because of the distance.”
Gillis-Harry, however, said his group was not aware of the price of fuel from the Dangote refinery.
“Well, it will be acceptable because now we are paying NNPC N870 for a litre, so if we see it at N766, it is cheaper and we will prefer to buy that.
“I cannot determine how much we will sell to Nigerians; we will work out the retail price. It is not one individual or one organisation’s prerogative to put a price, we will work it out and we will argue out our point.
“We are ready to support Dangote, but they are not talking to us. We are the people they need; I have over 6,000 retail outlets under my management, but Dangote is not talking to us”, he added.
Son of the late head of state and former Minister of Defence, Chief Thomas Aguiyi-Ironsi, in a letter of remembrance and solidarity written on behalf of the Aguiyi-Ironsi family to the Fajuyi family, marking the 60th anniversary of his death, said July 29, 2026, will be a solemn occasion to honour a soldier they described as “a war hero who offered himself as a sacrificial lamb for the unity and integrity of the nation.”
The family recalled that Lt Col Fajuyi, then Military Governor of the Western Region, made the ultimate sacrifice in 1966 when mutinous soldiers abducted him alongside Maj Gen Aguiyi-Ironsi in Ibadan during the military counter-coup.
They stated that Fajuyi, in a defining moment of conscience, chose honour over personal safety and refused to abandon his guest and superior, a decision the family said reflected the highest ideals of loyalty, integrity, and military brotherhood.
According to the statement, his action transformed him into a national martyr whose legacy continued to inspire unity, courage, and selfless service.
The Aguiyi-Ironsi family also expressed sympathy with the Fajuyi family, acknowledging the enduring pain of their loss, while praying for continued strength, comfort, and peace.
The statement further stated, “He did not run. He did not hide. He chose to stand. In that sacrificial decision lay the essence of his greatness.”
The family called on government institutions, military authorities, and custodians of national memory to ensure sustained recognition and support for the Fajuyi family, stressing that his sacrifice remained a national responsibility to remember and honour.
It urged Nigerians to draw inspiration from his life and death, noting that his legacy continues to challenge the nation to uphold unity, courage, honour, and selfless service.
Fajuyi was killed on July 29, 1966, during the military counter-coup in Ibadan alongside Aguiyi-Ironsi.
By Okey Maduforo Awka
The emergence of Chief Ikeagwuonu Ugochinyere as the Minority Leader of the Federal House of Representatives has been described as a vindication of the fact that the Action People’s Party (APP ) represents the collective interests of the Nigerian masses.
Recall that recently, Ugochinyere was elected as the Minority Leader of the party in a keenly contested election of the Federal House of Representatives.
According to a statement by the Chairman Anambra state chapter of the APP Chief Chijioke Okeke, Ugochinyere had been consistent in offering himself as the voice of the people and that of the voiceless.
“It did not come to us as a surprise that our great leader High Chief Ugochinyere became the Minority leader of the Federal House of Representatives because he has always been consistent and focus towards providing himself as the only vent for the masses at the Green Chambers”
“We know his pedegre as a politician as well as a leader and he has remained focus in ensuring that the voiceless are heard and this is also a vindication of our party’s unflinching desire to provide a veritable platform in a democratic process”
Okeke further stated that the fifth columnists who had attempted to deregister the party have been put to shame adding that the party shall continue to champion the interests of the Nigerian people.
“They made failed attempt at deregistering our great party but they lost sight of the fact that the APP is firmely rooted on ground and has all that it takes to drive the wishes and aspirations of the Nigerian populace and with this recent development our traducers have been put to shame and our party is on the path of further greatness “. Okeke noted .
By Okey Maduforo Awka
Six members of the Indigenous People Of Biafra IPOB have been declared wanted by the Nigerian Police .
The six persons led by Mr Chukwuebuka Ohaechesi, include Emma Okonkwo, Jude Uwa, Gentle Okoro, Uchenna Dike, and Emmanuel Nwankwo who are said to be at large.
The were said to have fled to neighboring states in the South East hence signaling the other four Police Commands in the geopolitical zone to assist in the manhunt for them
The Police accused them of executing protests against the detaintion of the leader of IPOB Mazi Nnamdi Kanu who is currently serving jail terms in Sokoto Correction Center.
According to a statement issued by the Abia Police Public Relations Officer of the Command, ASP Eguavon Omokaro, the individuals are suspected members of IPOB who have allegedly participated in protests at various times and locations within the state.
The statement alleged that the protests were organised in connection with the continued detention of Mazi Nnamdi Kanu and demands for justice through the judicial process.
The Police Command further stated that these protests have allegedly resulted in breaches of peace and disruptions to law and order in Abia State. Consequently, the Police Intelligence Department reportedly concluded that the named individuals were among the principal organisers and coordinators of the demonstrations.
The statement further alleged that; ;
“It should be noted that on every 30th day of May, these men and their cohorts convene for the so-called remembrance of Biafra, holding clandestine meetings at various locations in the name of the emancipation of the Biafran Republic and the release of Mazi Nnamdi Kanu.”
According to the police, the six individuals were invited on several occasions for questioning in relation to the allegations against them.
The statement indicated that the first invitation was issued on 18 December 2025, followed by a second invitation on 7 February 2026, and a third invitation on 3 March 2026.
The police alleged that the individuals failed to honour all three invitations.
The statement further asserted:
“These individuals were invited by the police on several occasions. Firstly, on 18 December 2025, they failed to honour the invitation. Again, they were invited on 7th February 2026 and failed to appear. Finally, they were invited on 3 March 2026, and they also failed to present themselves before the police.” It stated.
As a result, the Abia State Police Command announced that all six individuals had been formally declared wanted.
The police appealed to members of the public to provide any reliable information that could lead to their arrest and prosecution, stating that informants would be suitably rewarded.
The declaration of the six individuals as wanted persons is linked to allegations of their participation in pro-Biafra activities, demonstrations concerning the detention of Mazi Nnamdi Kanu, and their alleged association with IPOB, an organisation that has been the subject of extensive scrutiny and security operations by Nigerian authorities.
In a statement shared on social media, VeryDarkMan argued that Wike may not fully understand the pain and trauma experienced by parents of abducted children and affected teachers. He claimed that the minister’s children were educated abroad, away from the security challenges facing many Nigerian families.Nigerian entertainment news
The activist stated that insecurity, kidnapping, and attacks on schools remain serious national concerns and should not be dismissed or reduced to political issues. He stressed that the fears and frustrations of parents whose children face security threats deserve greater attention from public officials.
VeryDarkMan further warned that political power is temporary, urging leaders to remain accountable to the people and sensitive to the challenges confronting ordinary Nigerians.
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