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FG Pressures Dangote, Marketers to Cut Depot Prices

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Consumers seem to be getting their wish as Nigeria’s downstream petroleum market witnessed another round of price reductions on Monday, as the Federal Government’s pressure on the relevant stakeholder-segment bore fruits.

Biztellers reports that the Dangote Petroleum Refinery & Petrochemical (DPRP) and several major fuel marketers lowered depot prices for Premium Motor Spirit (PMS), popularly known as petrol, and diesel.

Analysts also trace the development to resolution of the MiddleEast crisis, growing competition and improving product availability.

Prior to the price adjustments, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, declared before a stakeholders’ meeting that the current retail price of petrol does not reflect the sharp decline in price of crude oil.

The meeting, convened by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), was attended by representatives of the DPRP, Major Energy Marketers Association of Nigeria (MEMAN), the Independent Petroleum Marketers Association of Nigeria (IPMAN), Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Nigerian Association of Road Transport Owners (NARTO), and Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN).

ALSO READ: Old Stock doesn’t Justify High Fuel Prices – FG

The latest mid-day depot price report showed that the DPRP reduced its ex-depot petrol price in Lagos by N3 per litre, from N1,079 to N1,076 per litre, while maintaining its diesel price at N1,500 per litre.

The reduction comes as several marketers also adjusted their prices downward in an apparent bid to remain competitive in an increasingly price-sensitive market.

Among the major Lagos depots, NIPCO cut its petrol price by N2 to N1,076 per litre, while Pinnacle lowered its price by N3 to N1,075 per litre. Sahara, AIPEC, and African Terminal each reduced prices by N4, bringing their petrol prices to N1,075 per litre.

On its part, Aiteo maintained its petrol price at N1,075 per litre.

Diesel prices also softened across several depots. Rain Oil reduced its AGO price by N15 to N1,430 per litre, while Ibeto, Duport, and Ibachem all cut prices to N1,430 per litre. Dangote Refinery, however, retained its diesel price at N1,500 per litre.

Speaking after a stakeholders’ meeting on Cost-Reflective Pricing of PMS, Lokpobiri noted that while the government did not interfere when petrol prices rose in response to higher crude oil prices, there was now no justification for maintaining current pump prices with Brent crude trading below $70 per barrel.

“NMDPRA never faulted anybody as far as the price was concerned because we are operating a fully deregulated economy.

“But deregulation doesn’t mean excessive profiteering. The Petroleum Industry Act also places responsibility on NMDPRA to ensure that steps are taken to prevent unnecessary profiteering.

“When Brent crude was about $118 per barrel, prices adjusted rapidly. Now that crude prices have dropped significantly, why has the pump price not come down in the same way?” he asked.

The Minister said discussions with marketers were constructive and would continue until a framework was agreed to ensure petrol prices better reflected developments in the global crude oil market.

“We had very fruitful and frank discussions with the marketers and leaders of the downstream sector with a view to driving down the price of PMS. The engagements are still ongoing.

“We told them the concerns of Nigerian consumers, and they have agreed to go back and think of what concrete steps can be taken. Discussions are ongoing, and we believe we are getting somewhere,” he said.

In the same vein, Chief Executive of NMDPRA, Rabiu Umar, said the current disconnect between falling international crude prices and sustained domestic retail PMS prices made the engagement with marketers necessary.

He noted that previous consultations with stakeholders had helped ease prices in the domestic Liquefied Petroleum Gas (LPG) market and expressed confidence that similar dialogue would deliver positive results for petrol consumers.

“Deregulation is not a licence for market distortion or unfair consumer pricing. Sustainable profitability for marketers and consumer welfare are not mutually exclusive,” Umar said.

Meanwhile, IPMAN said petrol prices could decline below N800 per litre as independent marketers begin purchasing products directly from the DPRP.

IPMAN National President, Abubakar Garima, said the association had already reduced petrol prices by about N125 per litre across the country and would continue to lower prices whenever product acquisition costs decline.

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NEWS

FCT Police Warn Motorists Against One-Way Driving, Reject Calls From VIPs

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The Federal Capital Territory (FCT) Police Command has warned motorists against driving against traffic, popularly known as one-way, cautioning that influential connections or calls from senior police officers and government officials will not shield offenders from prosecution.

The Command said the practice, particularly around road construction sites, diversion points and restricted routes, poses serious risks to lives and property.

SEE ALSO: Ogun Police Win Public Safety Award as Ojajuni Emerges NUJ Golden Jubilee Ambassador

In a press statement issued on Monday, November 9, the FCT Police Public Relations Officer, SP Josephine Adeh, said the Command was concerned about the increasing disregard for traffic regulations by motorists who deliberately drive against traffic, ignore road signs and bypass designated diversions to avoid congestion.

Adeh stressed that no individual, regardless of status, position or connections, would be exempted from the consequences of violating traffic regulations.

She disclosed that the Commissioner of Police, CP Ahmed Muhammad Sanusi, had directed the Command’s Motor Traffic Department (MOTOPOL) and all Divisional Traffic Officers (DTOs) to collaborate with the Federal Road Safety Corps (FRSC) and other relevant agencies to intensify enforcement operations.

According to the statement, the directive includes the arrest and immediate prosecution of motorists caught driving against traffic or disobeying lawful traffic instructions.

The Commissioner also warned police officers involved in the enforcement exercise against exploiting the operation to extort motorists, stressing that any officer found engaging in such misconduct would face disciplinary action in line with existing police rules and regulations.

The Command urged motorists to exercise patience, obey traffic signs and follow instructions from authorised traffic officers, noting that saving a few minutes through reckless driving was not worth the risk of losing lives or damaging property.

It also called on residents to remain security-conscious and report suspicious persons or activities to the nearest police station.

The Command provided the following emergency contact numbers for security-related reports: 08032003913 and 08061581938.

 

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FCT Police Chief Inspects Worship Centres, Commends Residents for Peaceful Conduct

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The Commissioner of Police, Federal Capital Territory (FCT) Command, CP Ahmed Muhammad Sanusi, has inspected security deployments at churches across the territory, urging officers to maintain professionalism and vigilance during religious activities.

The inspection was disclosed in a statement issued on Sunday by the FCT Police Public Relations Officer, SP Josephine Adeh.

Sanusi conducted the inspection on November 8, 2026, to assess the operational readiness of personnel deployed to worship centres and evaluate security arrangements for residents and worshippers.

SEE ALSO: October 1 Protests: FCT Police Call For Increased Vigilance Among Residents

The exercise followed a similar inspection of mosques across the FCT on Friday, November 6, as the Command sustained efforts to strengthen security around religious centres.

During the visits, the police commissioner charged officers to remain professional and responsive in the discharge of their duties.

He also commended residents for their peaceful and orderly conduct following mosque and church services, noting that public cooperation remained essential to maintaining security and public order across the territory.

The commissioner urged residents to continue cooperating with the police and other law enforcement agencies, remain security-conscious and promptly report suspicious persons, movements or activities to the nearest police station.

He further encouraged residents to utilise the Command’s emergency lines, 08032003913 and 08061581938, to report security concerns.

Adeh said the Command’s Public Relations Office remained open and accessible to members of the public for enquiries, complaints, information and other security-related matters.

The FCT Police Command reiterated its commitment to protecting residents and worshippers and maintaining security across the Federal Capital Territory.

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2027: Shettima Arrives in Uyo for APC Presidential Campaign Rally

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Vice President Kashim Shettima has arrived in Uyo, the Akwa Ibom State capital, for the All Progressives Congress (APC) presidential campaign rally ahead of the 2027 general elections.

The development was disclosed on Friday by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications in the Office of the Vice President.

Akwa Ibom occupies a strategic position in President Bola Ahmed Tinubu’s Renewed Hope Agenda, with major federal investments expected to strengthen infrastructure and economic activities across the state.

SEE ALSO: 2027: Shettima Arrives in Lafia to Rally Support for Tinubu’s Re-election

One of the major projects is the Lagos–Calabar Coastal Highway, which has an approximately 82.8-kilometre stretch passing through Akwa Ibom.

The project, according to the statement, “promises improved connectivity, expanded trade, greater investment and new economic opportunities for communities across the region.”

Beyond infrastructure, the administration’s interventions in education, agriculture, healthcare, youth empowerment and social protection are also designed to improve livelihoods and broaden economic participation.

The Nigerian Education Loan Fund (NELFund) is among the initiatives highlighted, complementing Governor Umo Eno’s investments in roads, aviation, tourism and human capital development.

The statement noted that the Uyo rally provides “another opportunity to strengthen the APC’s growing political presence in the South-South and make the case for continuity in 2027.”

 

 

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