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Petroleum Marketers Poised to Sell Cheaper Petrol with Direct Purchase from Dangote Refinery

Nigeria’s petroleum marketers are optimistic that they will sell Premium Motor Spirit (PMS) at a lower price than the Nigerian National Petroleum Company Limited (NNPCL) once Dangote Refinery begins direct sales to them. This assertion was made by the spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, during an exclusive interview with the press on Monday.

Ukadike expressed confidence that purchasing directly from Dangote Refinery would eliminate additional costs imposed by NNPCL, thus allowing marketers to offer petrol at competitive prices. This update follows recent developments in which the Federal Government, through Finance Minister and Chairman of the Naira-for-Crude Implementation Committee, Wale Edun, confirmed that marketers are now authorized to buy petrol directly from Dangote Refinery.

This decision marks a significant shift, ending the previous arrangement where NNPCL acted as the sole offtaker of products from Dangote Refinery. Initially, upon the refinery’s first distribution of PMS, NNPCL held exclusive rights to lift and market the fuel. However, Edun announced last Friday that part of the Naira-for-Crude deal now enables marketers to bypass NNPCL and engage in direct transactions with the refinery.

The new framework arrives amid rising petrol prices, with NNPCL stations in Abuja recently selling at N1,030 per liter, while other stations have prices ranging between N1,100 and N1,200. NNPCL has also set ex-depot prices between N1,040 and N1,100 per liter, but marketers have voiced discontent, rejecting these rates as unfeasible for sustaining business operations.

For many marketers, the approval to purchase from Dangote Refinery offers a lifeline by reducing their reliance on imports. Ukadike emphasized that IPMAN, which controls 70 percent of Nigeria’s filling stations, eagerly anticipates Dangote Refinery’s commencement of direct petrol sales. He noted that eliminating NNPCL’s markup would allow them to offer cheaper petrol to consumers.

“We are waiting for Dangote Refinery to finalize the direct sale arrangements and release their price template,” Ukadike said. “Our petrol price will definitely be more affordable than NNPCL’s retail price. Since we will be sourcing the product directly, the fees that NNPCL adds will be removed, benefiting both marketers and consumers.”

Ukadike further highlighted that, unlike government employees, petroleum marketers rely entirely on business turnover for profits. “We are hopeful that we will meet with Dangote Refinery soon to conclude these arrangements,” he added.

Similarly, Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), revealed that his association had submitted a request to Dangote Refinery for direct purchase but was yet to receive a response. Gillis-Harry stressed the importance of receiving a clear price template before transactions can commence.

“They asked us to submit a letter, which we have done, but we are still waiting for feedback,” Gillis-Harry explained. “We cannot send trucks to lift petrol without knowing the product’s price. Nonetheless, we remain committed to supporting Dangote Refinery’s operations.”

While marketers are optimistic, some industry observers remain cautious about the promise of reduced prices. Recent hikes in fuel costs, even after Dangote Refinery’s distribution began, have fueled skepticism about how soon the price drop will materialize.

Oil and gas analyst Olabode Sowunmi remarked that Dangote Refinery’s primary focus may not be selling PMS at discounted rates, given the refinery’s need to maintain profitability. “The refinery wasn’t designed to provide cheap petrol but to ensure local production, reducing the dependence on imports,” Sowunmi noted.

This uncertainty follows a sharp increase in petrol prices under President Bola Ahmed Tinubu’s administration. In June 2023, the removal of fuel subsidies pushed prices from N238 per liter to over N600. By October 9, 2024, NNPCL stations raised prices to N1,030 per liter, with other outlets selling at even higher rates.

The economic impact extends beyond petrol prices. Diesel and cooking gas prices have surged, with a 12kg cylinder of Liquefied Petroleum Gas (LPG) rising from N9,194 in 2023 to N15,552 in 2024. Meanwhile, electricity costs have also skyrocketed following a 240 percent tariff hike approved by the Nigerian Electricity Regulatory Commission (NERC) earlier this year, exacerbating financial pressures on households and businesses.

As marketers await the refinery’s final move, many Nigerians are hopeful that Dangote Refinery’s direct engagement will help stabilize the energy market and reduce fuel prices, offering some relief amid the challenging economic climate.

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Ruud van Nistelrooy Opens Up on Hurtful Manchester United Exit Before Taking Leicester City Job

New Leicester City manager, Ruud van Nistelrooy, has shed light on his departure from Manchester United, expressing feelings of disappointment and hurt over how his exit unfolded.

The Dutchman, who stepped in as United’s interim manager after Erik ten Hag was sacked, has revealed he held an open and candid discussion with United’s new boss, Ruben Amorim, before his departure last month.

Van Nistelrooy explained that taking on the interim role was motivated by his deep connection with the club, its people, and its fans.

However, once Amorim arrived, the Portuguese manager opted not to include Van Nistelrooy in his coaching setup, a decision that left the former United striker disheartened.

“I stepped in as interim manager because I wanted to help the club during a difficult period,” Van Nistelrooy said.

“My intention was clear—I was there to assist United, and I was open to staying on in any capacity to continue that support.

So, when I was informed that I wouldn’t be part of the new coaching team, it was a tough pill to swallow.

I was disappointed, very much so, and it hurts.

”He added, “United is a club that means so much to me, and the bond I share with the fans and the people there is something I hold dear.

The only assistant managerial role I would have considered at this stage in my career was at United.

That’s why it stung even more to be shown the door.

”Despite his disappointment, Van Nistelrooy acknowledged the complexities of the situation, admitting that as a manager himself, he could understand Amorim’s perspective. “When I reflected on it, I got my head around the decision.

I understand that a new manager would want his own setup and might see my presence as a potential complication. It’s part of the job, and I respect that.

”Van Nistelrooy credited his conversation with Amorim for helping him move on. “I spoke to Ruben about it, man to man, manager to manager.

He was honest and respectful, and I’m grateful for that. It really helped me process everything and turn my focus to new opportunities.

”Shortly after his departure, Van Nistelrooy began discussions with Leicester City and was eventually appointed as their new manager.

The move, he said, has rejuvenated his spirits. “While leaving United hurt, the chance to take charge at Leicester City is an exciting new chapter for me, and I’m fully committed to making the most of it.

”As Van Nistelrooy transitions into his role at Leicester, his departure from United underscores the challenges even the most beloved figures face in football’s ever-evolving landscape.

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Obasanjo would have died under Abacha if not for me -Gowon

Former Head of State, General Yakubu Gowon has narrated how former President Olusegun Obasanjo could have been killed for an alleged coup plot in 1995 under Gen. Sani Abacha if not for him.

Gowon said this at the maiden edition of the Interdenominational Unity Christmas Carol and Praise Festival organised by the Plateau Government.

The News Agency of Nigeria reports that Obasanjo was arrested in 1995 by General Sani Abacha and convicted of being part of a planned coup to overthrow his government.

Obasanjo, despite pleading innocent to the coup, was sentenced to death.

He spent three years in prison before he was released in 1998 following the death of Gen. Abacha on June 8 of that year.

While Gowon was the Special Guest of Honour at the event, Obasanjo was the Guest of Honour, respectively.
“I wrote a letter to Abacha, I pleaded with him that God made him a leader to do good and not evil.

“I sent my wife with the letter in the middle of the night to Abacha in Abuja; I pleaded with him that such a thing should not happen.

“I’m glad that soon after that, things changed, and not only that Obasanjo left prison, he became our president in 1999.

“This is something that only prayers and sincerity can do; I’m happy that today myself and Obasanjo are here to celebrate the unity of Plateau,” he said.

Gowon also thanked the state government for organising the carol, adding that it would further unite the citizens of the state.

The former head of state said that the state had gone through a myriad of security challenges. Hence, the carol provided a suitable avenue for the people to commune.

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Why I don’t trust any public institution in Nigeria – Fisayo Soyombo

Fisayo Soyombo has revealed why he doesn't trust any public institution in Nigeria

The founder of the Foundation for Investigative Journalism (FIJ), Fisayo Soyombo has revealed why he doesn’t trust any public institution in Nigeria.

Soyombo revealed this on Saturday during an interview on Arise Television, following his arrest and detention by the Nigerian Army for three days in Port Harcourt, Rivers State before he was released on Friday.

The investigative journalist explained that everything he told the army during interrogation was leaked to suspected oil thieves who also told him the exact things he said.

“How can you grill me at the 6 division and everything I told you, the illegal bunkerers were telling me. Every single thing,” he said.

“The real grouse of the army is that one, I did not carry them along. I would not deny that I have low trust for Nigerian public institutions.”

The FIJ founder added he does not trust any public institution in Nigeria dur to his ordeal investigating stories as an undercover journalist.

“A small two-minute diversion. Last year, I did an undercover investigation on an orphanage selling babies. I bought a new born baby for N2 million. I took the baby to NAPTIP, I looked after that baby,” he said.

“After I handed over the baby to NAPTIP, I sent a representative to go there every month. Her birthday, we bought a gift, Christmas same. We woke up one day and NAPTIP shut the door on us.”

The Nigerian Army had confirmed the arrest of the investigative journalist at an illegal oil bunkering site in the Niger Delta region.

The arrest, which sparked widespread concern and condemnation, occurred during an operation against oil theft and pipeline vandalism.

The confirmation followed public outcry over Soyombo’s detention, with the FIJ reporting on X (formerly Twitter) that Soyombo had been in Army custody for three days.

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Minimum Wage: Cross Rivers Workers to embark on indefinite strike

The organized labor unions in Cross River State have announced plans to embark on an industrial action due to the state government’s failure to implement the newly approved minimum wage of ₦70,000.

This decision was confirmed by the Chairman of the Trade Union Congress (TUC) in the state, Mr. Monday Ogbodum, on Saturday in Calabar.

According to Ogbodum, the Nigeria Labour Congress (NLC) has set a deadline for the strike to commence at midnight on Sunday if the state government fails to meet their demands.

Speaking on behalf of the labor unions, he emphasized that there would be no backing down on the industrial action unless the government promptly implements the new wage structure.

“Yes, we are still in talks with the government,” Ogbodum said. “We had a meeting on Thursday, followed by another on Friday that stretched into the late evening. Another meeting is scheduled for today (Saturday).

However, this does not mean that all is well. While the government has shown some seriousness in addressing our concerns, our position remains clear: even if we sign any document or agreement today, it does not equate to actual implementation.

“The TUC chairman further explained that negotiations are ongoing, but the unions are prepared to join the strike should the need arise.

He stressed that labor unions are seeking tangible actions and not just verbal commitments.

Labor unions in Cross River State, including the NLC and the TUC, have expressed their dissatisfaction over the prolonged delay in adopting the new minimum wage policy.

The ₦70,000 wage adjustment was introduced to provide relief for workers amidst rising inflation and economic challenges.

Despite the federal government’s endorsement of the policy, some states, including Cross River, have been slow to implement it, citing financial constraints.

Union leaders argue that the state government has had ample time to prepare for the policy’s implementation and should prioritize the welfare of its workers.

They have warned that any further delay will be met with decisive action, as workers are no longer willing to endure the economic hardships caused by inadequate wages.

The situation remains tense, with stakeholders closely monitoring the outcome of the ongoing discussions between labor representatives and the state government.

The unions have called on the government to act swiftly to prevent the strike, which could disrupt essential services across the state.

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Bayer Leverkusen Forward Victor Boniface Faces Possible Sanction for Reckless Driving Incident

Bayer Leverkusen forward, Victor Boniface, has landed himself in hot water following allegations of reckless driving and mobile phone usage on a highway in Germany.

The Nigeria international reportedly posted a photo on social media that showed him scrolling through his phone while driving his Mercedes-Benz.

The 23-year-old’s actions have sparked widespread criticism, with fans and commentators expressing disappointment at what they described as irresponsible behavior.

The incident has not only drawn public backlash but has also caught the attention of his club, Bayer Leverkusen.

Manager Xabi Alonso has expressed his disapproval of the forward’s conduct, hinting at potential disciplinary action. Speaking to BeIN Sports, the former Real Madrid and Liverpool star did not mince words regarding Boniface’s behavior.

“I don’t like it; it’s obviously not good, and of course, it’s not allowed to happen,” Alonso stated firmly.

“I haven’t seen Boni [Boniface] yet, but he knows it’s not allowed. We have to tell him he’s not allowed to do something like this.

”The coach’s remarks reflect the club’s commitment to maintaining high standards of discipline and professionalism among its players.

Such actions, particularly those involving risky driving behavior, not only tarnish the image of the player but could also bring unwanted negative attention to the club.Boniface’s alleged use of his mobile phone while driving breaches both German traffic laws and the moral expectations placed on public figures like professional footballers.

In Germany, it is illegal to use a handheld device while driving, with violators facing fines and potential driving bans.

Additionally, as a role model to young fans worldwide, Boniface’s actions could set a harmful precedent if not addressed appropriately.Since joining Bayer Leverkusen, Boniface has been a key figure for the club, earning plaudits for his performances on the pitch.

However, this off-the-field controversy threatens to overshadow his accomplishments. Fans have taken to social media to express their concerns, with many urging the young striker to prioritize safety and uphold the values expected of a professional athlete.As the club investigates the incident, it remains to be seen what disciplinary measures will be taken.

For now, the focus is on ensuring that the message is clear: such behavior is unacceptable. The situation serves as a stark reminder of the responsibilities that come with fame and the importance of setting a positive example, both on and off the field.

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PH refinery has not commenced bulk sales  – NNPC 

The Port Harcourt Refining Company (PHRC) has not yet commenced bulk sales or opened its purchase portal, as essential processes are still being finalised.

The Nigerian National Petroleum Company Limited (NNPC Ltd.) says an official announcements will be made if and when price reviews on the products occur.

Mr Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd. in a statement on Friday, said currently its products being sold were originated from the Dangote Refinery.

The 60,000 barrels per day (bpd) capacity refinery began truck-out of petroleum products on Tuesday in Port Harcourt following its rehabilitation.

Some petroleum marketers and Nigerians have raised operational concern about the refinery as regards to pricing.

The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) also confirmed that the Refinery had not released any new price for products purchase.

The association said that it bought PMS with the old pricing template while  awaiting the new prices.

“Currently, the products we are selling originate from the Dangote Refinery and include applicable Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) fees,” he said.

“Products from PHRC are exclusively for our retail stores at this stage. Our pricing is reviewed and adjusted periodically as necessary to reflect operational realities.

“We advise the public to disregard any misleading information regarding pricing. Official announcements will be made if and when price reviews occur,”. 

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