News
Marketers fear high Dangote petrol price as landing cost rises to N1,120/litre
Oil marketers are concerned about the delay in announcing the price of Premium Motor Spirit, popularly called petrol, being produced by the Dangote Petroleum Refinery, as they noted that the landing cost of imported PMS is now about N1,120/litre.
Dealers stated that a high PMS price from the Dangote refinery would lead to the importation of the commodity by marketers since the government has opened up the market for competition.
In July this year, the Major Energies Marketers Association of Nigeria revealed that the landing cost of PMS was N1,117/litre. The landing cost is simply the price at which the commodity lands on Nigeria’s shores.
While the pump prices of petrol ranged between N600 and N700/litre in July, the cost was raised last week to between N855 and N897/litre by the Nigerian National Petroleum Company Limited, while some independent dealers hiked their prices to above N1,000/litre.
It was also gathered on Monday that the delay in the release of the price of Dangote petrol had further made oil marketers deepen discussions with their foreign partners in a bid to start petrol imports.
The National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, stated that IPMAN was speaking with its partners abroad while awaiting Dangote petrol price, but noted that a high cost from Dangote would lead to massive PMS importation.
“On the landing cost of petrol, we are waiting for our foreign partners to calculate how much it will cost to bring the product to Nigeria. This is so that independent marketers will also see how to import the commodity. So we are waiting to get the data from them.
“I’ll tell you the actual landing cost once we get the data from our foreign partners. So if the landing cost is cheaper than what the Dangote refinery will sell, then we will see how to bring in the product.
“You know, it is now an open market, so anywhere we see a cheaper rate with good quality, we will buy from there. We don’t know the price of Dangote PMS. We are waiting for the refinery to release the price. However, we are discussing it with our foreign partners,” he said.
Maigandi explained that allowing multiple importers of the PMS would ensure availability and competition.
“One advantage of allowing everyone to bring in the product is that there will be guaranteed availability of products.
“There is also going to be competition. Once this happens, everybody will try to see how they can sell their products and buy another one. It is only when you sell what you have that you can generate profit,” he stated.
Dangote petrol price
An official of the Dangote Group said the President of the group, Alhaji Aliko Dangote, will do everything possible to beat down the price of petrol.
The official who preferred not to be mentioned because he was not authorised to speak on the matter, said Dangote would sell PMS in Nigeria whether or not the Nigerian National Petroleum Company Limited agrees to be its off-taker or not.
According to the source, Aliko Dangote is a nationalistic man who loves the country, and he is ready to make sacrifices for the sake of the masses.
He recalled how the refinery brought down the price of diesel from about N1,600 to N950 before it started hovering around N1,100 and N1,200 due to foreign exchange fluctuations.
“When we started diesel, the product was around N1,700. We crashed the price to N1,200 and later, N950, before it now hovers around N1,100 and N1,200. Those who were milking the nation with dirty diesel saw it and they reduced their cost too. We will do it again,” the source stated.
Asked if Dangote can sell his PMS locally in the face of the seeming refusal of the NNPC to work with the refinery, the source replied, “Why not? We are going to sell locally; Alhaji Aliko Dangote is a nationalistic Nigerian; he loves this nation, and he is ready to make sacrifices.
‘We will bend for the country. We have high-quality PMS for the country. Some people who are importing fuel and some owners of refineries and blending plants in foreign countries don’t want this to happen. Their $117bn shipping business to West Africa is at stake.”
When the official was asked to disclose when the PMS will be out, he said, “Don’t worry, we are on course. We are ‘talk and do’. When we talk, we make it happen.”
The official, however, mentioned that the Dangote Group is still waiting to hear from the NNPC, but will take its decision if the state-owned company refuses to work with it.
The PUNCH reports that the NNPC and the Dangote refinery have yet to agree on the modalities for the sale of the latter’s PMS.
The NNPC, in a statement by its spokesman, Olufemi Soneye, said on Saturday that it would not buy Dangote PMS unless it is cheaper than that of the international market.
This is contrary to claims by Aliko Dangote that the refinery was waiting for the NNPC to roll out its product.
The NNPC also declared that Dangote and any other domestic refineries are free to sell directly to any marketer on a willing buyer, willing seller basis, saying it has no desire or intention to become the distributor for any entity in a free market environment.
“The recent changes in PMS prices have no impact on the DRL or any other domestic refinery’s access to the Nigerian market. In fact, if current prices are perceived as high, it presents an ideal opportunity for the refinery to sell its products at lower prices in the Nigerian market.
Soneye stated that the Dangote refinery could lower its price if it felt the new prices were too high.
“We emphasise that there is no guarantee of lower prices associated with domestic refining compared to any global parity pricing framework, as confirmed by the DRL. The NNPC Ltd will only fully off-take PMS from the DRL if the market prices of PMS are higher than the pump prices in Nigeria,” the NNPC said.
The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has rejected claims that it appropriated or “stole” the idea of Niger Delta Economic and Investment Summit from another organisation whose application was reportedly pending before the Federal Ministry of Trade.
NDCCITMA considers the allegation misleading and wishes to set the record straight.
The concept of Niger Delta Economic and Investment Summit is a broad and widely recognised platform used globally to bring together government, the private sector, investors, businesses, development partners and other stakeholders to deliberate on economic growth and development. The use of the term “Economic Summit” does not, in itself, establish exclusive ownership of the concept by any individual or organisation.
More importantly, the chronology of events does not support the allegation being made against NDCCITMA.
While the said application was reportedly still pending before the Ministry of Trade as at September 2025, NDCCITMA had already gone through the appropriate processes and received approval from the Ministry of Trade in August 2025.
NDCCITMA did not rely on, copy, or appropriate the pending application of any other party in arriving at its name or identity
It is also important to distinguish between a concept and legally protected intellectual property, such as a registered trademark, proprietary material or other enforceable intellectual property right.
NDCCITMA remains committed to conducting its activities in accordance with applicable laws and regulatory requirements.Most importantly, in Suit No: FHC/PHC/CS/57/2026 filed on same subject matter in Portharcourt by the petitioner, the learned Judge had restrained the plaintiff from further interfering with the Summit being planned by the NDCCITMA. NDCCITMA will continue respect the rule of law
We therefore urge the public, stakeholders, the media to disregard any narrative unless such claims are supported by verifiable facts and relevant legal documentation.
NDCCITMA firmly rejects the allegation and maintains that its activities and identity were developed and pursued independently and through the appropriate regulatory channels.
The organisation remains focused on its mandate of promoting commerce, industry, trade, agriculture, investment and sustainable economic development across the Niger Delta region.
Signed:
Management
Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA)
The Cross River State Commissioner for Power and Renewable Energy, Prince Eka Williams Abang, has died at a hospital in Abuja.
Williams reportedly died suddenly on Saturday, September 12, 2026, while receiving medical treatment.
His death was announced on Sunday by his brother, Nkang William, who expressed shock over the sudden loss.
The deceased was described by family members and associates as a dedicated public servant whose death had left a significant void.
A former councillor representing Abo Ward in Boki Local Government Area, Pius Kejuo Osang, said he was still struggling to understand the development.
Late Abang
“I don’t understand, I was with him on Tuesday, I slept in his hotel,” Osang said.
Michael Gabriel Jr., Executive Media Assistant to Senator John Owan-Enoh, Minister of State for Industry, also described Williams as “a dedicated public servant and a good man.”
He said Ikom Local Government Area had lost a committed public servant, adding that Williams’ life of service, humility and impact would remain in the memories of those he touched.
The commissioner’s death has thrown Cross River’s political and public service circles into mourning, with condolences pouring in for his family, colleagues and associates.
The Board Chairman of the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture, NDCCITMA, Ambassador Idaere Ogan, has identified the Niger Delta Development Commission, NDDC, and the governments of the nine Niger Delta states as development partners in building a sustainable regional investment ecosystem.
Addressing newsmen at the Obi Wali Cultural Centre in Port Harcourt, Ogan reaffirmed NDCCITMA’s commitment to successfully hosting the Niger Delta Economic and Investment Summit from September 15 to 17 in the Rivers State capital.
The NDCCITMA Chairman said the Summit was a strategic, private-sector-led platform to mobilise investment and unlock the Niger Delta region’s economic potential, anchored on the theme: “Driving Investment, Innovation and Industrial Growth in the Niger Delta.”
He stated: “Our vision is to bring together the nine Niger Delta states, the Federal Government, the Niger Delta Development Commission, organised private sector, domestic and international investors, development finance institutions, multilateral organisations, financial institutions, project developers and other strategic partners around a common objective: To transform the Niger Delta from a predominantly resource-dependent economy into a diversified, productive, industrialised and globally competitive regional economy.”
According to Ogan, the Summit was designed not merely as another conference, but as an investment and transaction platform, stating: “I dare say that the region possesses opportunities far beyond crude oil.
“From gas and petrochemicals to agriculture and agro-processing; maritime and blue economy; manufacturing; aviation and transportation; renewable energy; tourism; digital economy; logistics; infrastructure and financial services, the Niger Delta possesses the resources and market opportunities required to become one of Africa’s leading investment destinations.”
We intend to showcase strategic investment opportunities capable of transforming the regional economy, including agro-industrial and oil-palm value chains, gas utilisation and gas-based industries, regional transportation and aviation, maritime infrastructure, industrial and logistics hubs, renewable energy, manufacturing, skills development, digital infrastructure and other high-impact projects.
The Counsel to the Legal Representative of NDCCITMA, Mr Sammie Somiari, SAN, affirmed that the Summit organiser was committed to conducting its activities in accordance with applicable laws and regulatory requirements.
He noted that in a suit filed by the founder of NDEIS, Kenule Nwiya Jnr, over an alleged trademark infringement, the court restrained the plaintiff from further interfering with the Summit being planned by the NDCCITMA.
Somiari assured that the Summit would proceed as planned, as there was no legal encumbrance to the economic and investment platform.
Also speaking, the NDDC Director of Commercial and Industrial Development, Mrs Lyna Okara, observed that the Summit would promote stronger economic integration among the nine Niger Delta states.
She noted that the investment forum would produce tangible outcomes: investment commitments, project partnerships, financing opportunities, policy recommendations, and clearly defined implementation frameworks.
Seledi Thompson-Wakama
Director, Corporate Affairs
September 12, 2026
The Enugu State Independent Electoral Commission (ENSIEC) says the commission is over 90 per cent ready for the forthcoming Sept. 26 Local Government Council Elections in Enugu State.
ENSIEC had scheduled elections into 17 Chairmanship and 260 Councillorship positions in the state.
The Executive Chairman of ENSIEC, Prof. Christian Ngwu, disclosed this on Monday in Enugu.
Ngwu noted that the commission was already putting finishing touches on every other arrangement and training ahead of the polls.
“It is only few things remaining and we are finalising and putting finishing touches on them,” he said.
The chairman said that the commission had trained the trainers of the ad hoc staff, already advertised for the ad hoc staff, while their training would be coming in few days.
He said that “almost all materials for the elections are ready”.
Ngwu noted that the “non sensitive materials will be leaving ENSIEC headquarters in Enugu latest Thursday, Sept. 17, to council headquarters”.
According to him, the sensitive materials will be received and kept in a safe place for now.
“We will soon concluded arrangement with transport unions/companies to ensure adequate logistics facilities.
“The commission is already having a fruitful conclusion of security arrangement with security agencies in the state with the Nigeria Police as lead agency,” he said.
Ngwu said that the Independent National Electoral Commission (INEC) would soon avail ENSIEC the authentic voters register of the state to work it.
“I am calling on residents of Enugu State to troop out en mass to cast their votes for their preferred candidates without fear or fear.
“ENSIEC will continue to provide a level playing field for all candidates in the elections.
“The commission will provide a conducive and secure environment as well as ensure a peaceful, hitch-free, transparent and credible elections come Sept. 26 in the state,” he said.
He said that the commission had pasted notice of election in local government areas, which contained awareness on how to vote correctly and positive behavioural conduct expected during and after casting one’s vote.
It would be recalled that candidates from 11 political parties would be participating in the polls.
ENSIEC had two weeks ago concluded train-the-trainer workshop for its officials, which included: 17 Electoral Officers (EOs) for each of the 17 council areas, 17 Assistant Electoral Officers, seven directors, five commissioner and an administrative secretary.
Hon. Chief Kevin Tobias Chukwu, the NDC candidate for the Ezza South/Ikwo Federal Constituency in the House of Representatives, has called on Nigerian leaders to rediscover the country by spending their vacations and leisure time within Nigeria.
Chukwu made the call while reacting to former Anambra State Governor and Labour Party presidential candidate, Peter Obi’s position that Nigerian presidents should spend their vacations in the country.
He said the issue should be viewed beyond partisan politics, arguing that leaders must demonstrate confidence in Nigeria if they expect citizens and investors to do the same.
According to him, frequent foreign vacations by political leaders send the wrong message to Nigerians, particularly when the government continues to encourage citizens to invest in the domestic economy.
“We cannot continue to export our wealth and import our enjoyment while asking Nigerians to believe in Nigeria,” he said.
Chukwu suggested that a president could choose to spend holidays in tourist destinations such as Obudu, Yankari, Lagos, Enugu, Ebonyi, Plateau and Akwa Ibom, among others.
He said such visits would boost local businesses, including hotels, restaurants, transport operators, farmers, artisans and other small businesses, while also increasing public confidence in Nigeria’s tourism potential.
The NDC candidate also highlighted the security implications, saying a president who can comfortably spend time in different parts of the country would send a strong signal about the safety and viability of those areas.
“This should go beyond Peter Obi and beyond party politics. It is about a new culture of leadership,” Chukwu said.
He added: “If we truly want Nigerians to believe in Nigeria, those who lead Nigeria must demonstrate that belief themselves. Charity, they say, begins at home.”
-
Politics12 hours ago2027: Odii: I’ll Attract ₦2tn Investment to Ebonyi in Six Months
-
News3 days agoFCC Urges Enugu Youths to Prepare for Federal Job Opportunities
-
News8 hours agoSept. 26 Polls: ‘ENSIEC is over 90% ready’ – Chairman
-
Crime12 hours agoGunmen Attack Commercial Bus, Kill Nine Passengers
-
News1 day agoHotel Building Collapses in Enugu Kills One, Traps Workers
-
Crime1 day agoEnugu Police Probe Alleged Disruption of Political Gatherings, Warn Against Violence
-
News13 hours agoWhy Nigerian Leaders Should Spend Vacations at Home – Ebonyi Reps Candidate
-
Foreign12 hours agoFour Nigerians Jailed 17 Years Over Fake Marriage Document Scheme in UK