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Dangote Refunds N16bn On PMS Purchases Above Advertised Rates

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The Dangote Petroleum Refinery and Petrochemicals Co is poised to absorb up N16 billion by refunding N65/litre to marketers for those who made purchases from its key partners above the advertised rates.

The move, a company statement has it, follows the refinery’s recent reduction of its gantry price from N890 to N825 per litre for Premium Motor Spirit (PMS) also known as petrol for its strategic partners – AP (Ardova Plc), Heyden, or MRS in the domestic market.

The refinery stated that this is part of its ongoing efforts to ensure that Nigerians are the primary beneficiaries of the price reduction and in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which aims to stimulate the economy.

In a statement issued over the weekend, the refinery confirmed it will refund N65 per litre on the over 200,000 metric tonnes of PMS purchased by marketers at the old gantry price of N890 per litre, prior to the new rate of N825 per litre. Dangote refinery also absorbed N16bn loss by refunding N65/litre to marketers for Nigerians to benefit from cheaper fuel

“The step, effective February 27, 2025, guarantees that none of our valued business partners will experience a loss due to the price change. More importantly, it ensures that the new, lower rate takes immediate effect nationwide for the benefit of the Nigerian people,” the statement said.

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The refinery emphasised that this initiative extends beyond MRS Holdings, Ardova Plc (AP), and Heyden. It urged other marketers sourcing stock from it to pass on the benefits of the new pricing to consumers at the retail level, encouraging a collective commitment to affordable, quality products.

Dangote also condemned any exploitation of the new pricing structure. “It is both unpatriotic and detrimental to the welfare of Nigerians for any party to purchase at a rate of N825 per litre and then sell to consumers at N945 or more per litre. This constitutes excessive profiteering, further burdening Nigerians for personal gain,” the statement added.

“Dangote Refinery in its effort to ensure good quality and affordable fuel for Nigerians, is working with its partners to make this price accessible. Consumers who purchase fuel above the advertised rate at any of its key partners – AP (Ardova Plc), Heyden, or MRS – anywhere in Nigeria, are encouraged to report to Dangote Refinery with their receipts for a full refund of the excess amount.

The approved rates per litre are as follows: MRS: N860 in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East; Heyden and AP: N865 in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East.

With the new gantry price set at N825 per litre, Dangote Refinery expects that no Nigerian will pay more than N900 per litre for PMS, regardless of location or petrol station. The refinery also underlined its commitment to providing high-quality, eco-friendly fuel that benefits vehicle performance and supports public health.

“Our commitment aligns with the objectives of President Bola Tinubu’s Renewed Hope Agenda, which champions self-sufficiency in critical sectors like energy. We remain dedicated to supporting Nigeria’s economic growth and ensuring every Nigerian has access to affordable, high-quality energy solutions,” the refinery said.

Dangote Refinery concluded, “This initiative is one of many ways Dangote Petroleum Refinery & Petrochemicals continues to contribute to a prosperous and sustainable future for our country. In this journey toward energy security, we stand united with the Nigerian people, always striving to provide lasting solutions and a more prosperous future for all.”

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Energy

N4bn Compensation Dispute Threatens Ikot Abasi Power Project

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Nearly 20 years after the Federal Government awarded the contract for the 330kV Ikot Abasi Transmission Line, the Niger Delta Power Holding Company Limited (NDPHC) has turned to the Akwa Ibom State Government to break a N4 billion compensation deadlock threatening the completion of the strategic power project.

The transmission project, awarded in 2006 under the National Integrated Power Projects (NIPP), has remained stalled primarily over unresolved community and wayleave compensation issues.

But, to ensure the completion of the project, NDPHC Managing Director/Chief Executive Officer, Jennifer Adighije, is now seeking the intervention of Akwa Ibom State Governor, Pastor Umo Eno, to clear the outstanding issues and enable the contractor, Anit Energy, to return to site.

Adighije made the appeal during a courtesy visit to the Governor in Uyo, Akwa Ibom State.

READ ALSO: Organised Labour Supports Workers’ Demand for N500 PMS Price, N500,000 Minimum Wage

She disclosed that the latest valuation of the outstanding wayleave obligations was slightly below N4 billion.

The NDPHC boss said the prolonged delay was particularly concerning because the contractor had reportedly completed about 90 per cent of the engineering, procurement and construction procurement for the project.

She added that substantial project materials, including conductors and tower members worth millions of dollars, had already been deployed along the project corridor between Adiasim and Ikot Ekpene, but were still lying across communities as the impasse persists.

“We are therefore pleading for your kind intervention as a shareholder and board member of the company,” Adighije told the governor.

According to her, resolving the outstanding community issues would allow the contractor to remobilise to site and bring the long-delayed project to completion.

NDPHC is now targeting May 29, 2027, for commissioning of the transmission line, subject to the successful resolution of the outstanding compensation and community challenges.

Adighije said NDPHC was keen to support the state’s development ambitions through its role as a major interventionist agency in Nigeria’s electricity sector.

“We want to be part of your ARISE Agenda,” she said, referring to the governor’s development programme.

She also welcomed the establishment of the Akwa Ibom State Electricity Regulatory Commission, saying NDPHC had commenced discussions with the commission on the development of appropriate electricity-market frameworks for the state.

According to her, officials of the commission had visited NDPHC and requested information on the company’s projects in Akwa Ibom, while a joint working group was being established to examine how the assets could be better utilised and electricity access extended to underserved communities.

Also speaking, NDPHC Executive Director, Strategy and Commercial, Mr. Patrick Obahiagbon, commended the Governor’s administration for its development initiatives across the state.

Responding, Governor Eno welcomed the NDPHC initiative and pledged to take the Ikot Abasi project before the State Executive Council for consideration. The governor said the state government would examine the outstanding issues and determine how it could intervene to facilitate the completion of the project.

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Energy

Nigeria-Libya Gas Pipeline as FG Eyes New LNG Markets

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There are indications that the Nigeria-Libya Gas Pipeline would go from the drawing board to reality, as it has emerged as a major option to help Nigeria break into new markets for her gas reserves.

The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, disclosed this at Gastech 2026 in Bangkok, Thailand, during a high-level engagement with global energy companies, investors and governments on expanding Nigeria’s gas production, infrastructure, domestic utilisation and export markets.

The renewed push for the Nigeria-Libya pipeline topped the agenda for the meeting between Ekpo and Libya’s Minister of Oil and Gas, Dr Khalifa Rajab Abdulsadek.

Under the proposed framework, Nigeria and Libya are expected to explore a Memorandum of Understanding (MoU) and establish a joint technical team to assess the feasibility, financing, infrastructure requirements, security considerations and commercial viability of the project.

READ ALSO: ‘Obi Has Nowhere to Hide’ — APC Campaign Council Tackles Peter Obi Over Anambra Record

The NNPC Limited is expected to spearhead Nigeria’s participation in the bilateral initiative. If developed, the pipeline would provide another potential route for transporting Nigerian gas through North Africa to European markets, giving Nigeria an additional platform to monetise its gas resources beyond existing LNG channels.

According to Ekpo, the Federal Government was determined to create an investment environment capable of attracting the capital, technology and strategic partnerships required to convert the country’s gas reserves into economic growth, industrial development and jobs.

“Nigeria is open for business. We have put in place the right fiscal policies and operating environment, and the security of investors and their investments is guaranteed,” he said.

He revealed that the NNPC Limited would play a central role in translating Nigeria’s bilateral energy engagements into commercially viable projects, strategic investments and sustainable development.

The minister’s engagements also revealed plans by major industry players to significantly ramp up domestic gas production and infrastructure.

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Energy

Gas Industry Must Commercialise Methane – NLNG

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Gas producers must stop treating methane reduction as an environmental cost, because methane released into the atmosphere represents lost gas, lost revenue and lost energy that could otherwise be recovered and sold.

The Managing Director and Chief Executive Officer of Nigeria LNG Limited (NLNG) Adeleye Falade, made the declaration during a panel titled “Capturing the Lost Opportunity: Driving Global Alignment on Methane Abatement Across Natural Gas Supply Chains,” at the Gastech 2026 Exhibition and Conference in Bangkok, Thailand.

READ ALSO: Spike in Petrol Price Moves NLC to Demands Emergency Palliatives

Taking from the company’s experience, he highlighted that investments in methane abatement could pay for themselves while improving plant efficiency and asset reliability.

The NLNG CEO said the commercial value of recovering lost gas should become a central part of the global industry’s approach to methane management.

“Every tonne emitted is lost product, lost revenue and lost energy; gas we could have sold. Every molecule of methane avoided is both an emissions reduction and a recovered energy resource.”

According to him, the NLNG’s new boil-off gas compressor and start-up gas recovery project demonstrate the business case for methane reduction, with each project expected to deliver methane reductions of about 10–15 percent while also recording positive projected net present values. “The most compelling business case is the simplest one: the projects that cut our methane also pay for themselves.

“The same discipline that reduces methane also improves asset reliability and plant efficiency. The returns show up in more places than the emissions ledger,” Falade said.

He added that the starting point for methane abatement was credible measurement of gas losses, which enables companies to identify where methane is being lost, channel investment towards the right interventions and independently verify the results.

According to Falade, the NLNG had demonstrated that producers in developing economies could meet globally recognised standards for emissions measurement and reporting, despite infrastructure and other constraints.

He disclosed that the NLNG had achieved Gold Standard recognition under the Oil and Gas Methane Partnership (OGMP) 2.0 and became the first company in Africa to attain Level 5 methane emissions reporting.

Its measurement, reporting and verification system is independently assured by DNV in line with ISO 14064.

The NLNG’s methane-management programme includes site-wide optical gas imaging, a structured Leak Detection and Repair programme, as well as phased deployment of continuous monitoring and real-time emissions dashboards across its plant and vessels.

Falade said methane reduction was also being incorporated into the design of Train 7, which is expected to raise the NLNG’s LNG production capacity from 22 million tonnes per annum to 30 million tonnes.

The commercial case for emissions abatement was not new to Nigeria, he added, pointing to the NLNG’s longstanding role in converting gas that would otherwise have been flared into a marketable product.

According to him, the company’s activities have contributed to reducing Nigeria’s gas-flaring rate from above 65 percent to below 20 percent.

Beyond its own operations, Falade revealed that the NLNG was extending methane-management requirements across its supply chain through its Scope 3 Advocacy Plan.

The company engages feed-gas suppliers and contractors to measure, disclose and reduce emissions, while verified upstream emissions data and emissions-related criteria are incorporated into supplier selection and evaluation.

Falade also called for greater consistency in methane measurement and reporting requirements across jurisdictions, arguing that divergent standards make enforcement uneven and complicate meaningful comparisons between producers.

“The industry does not need weaker standards; it needs stronger, shared ones backed by real measurement,” he said.

On the tension between emissions reduction, energy access and affordability, Falade said developing economies should not be forced to choose between economic development and climate action.

“Developing economies cannot be asked to choose between economic development and emissions reduction. Both must progress together,” he said.

Other panellists were Zubin Bamji of the World Bank, Niels Dijksman of Brunei LNG and Hiroyuki Mori of JOGMEC.

The session was moderated by energy economist Dr Carole Nakhle of Crystol Energy.

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