NEWS
FG Pressures Dangote, Marketers to Cut Depot Prices
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.
NEWS
Defamation Trial Takes Twist as Sowore Withdraws DSS DG Subpoena
Human rights activist and former African Action Congress (AAC) presidential candidate, Omoyele Sowore, has withdrawn his request to subpoena the Director-General of the Department of State Services (DSS), Oluwatosin Ajayi, in his ongoing criminal defamation trial before the Federal High Court in Abuja.
The unexpected move came after the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), challenged the subpoena, arguing that the DSS chief was not the appropriate person to tender the document sought by the defence.
READ ALSO: Court Deals Fresh Blow to Sowore, Orders Him to Remain in Custody Until June 30
During Tuesday’s proceedings, Sowore informed the court that he would no longer insist on Ajayi’s appearance, explaining that the evidence he intended to obtain from the DSS Director-General could instead be produced by another official of the agency.
Fagbemi urged the court to set aside the subpoena, arguing that the document in question—a letter asking Sowore to delete a Facebook post in which he allegedly described President Bola Tinubu as a “criminal”—was neither authored nor signed by Ajayi.
The Attorney General further submitted that the letter had already been admitted into evidence twice by the court.
He also noted that its author, Uwen Davis, had testified before the court on July 22 on behalf of the defence, making the appearance of the DSS Director-General unnecessary.
Earlier in the proceedings, Sowore’s counsel, Adeyinka Olumide-Fusika (SAN), questioned the Attorney General’s direct involvement in the case.
He argued that another Senior Advocate of Nigeria, Akinlolu Kehinde, was already representing the Federal Government and maintained that although the Attorney General had the constitutional authority to appear in any matter, the defence ought to have been notified before he assumed responsibility for the prosecution.
The court had earlier confirmed that the subpoena had been served on the DSS Director of Legal Services after the registrar informed Justice Mohammed Umar that service had been effected.
However, the Federal Government maintained that Ajayi was unaware of the service and asked the court to vacate the subpoena while directing the defence to continue with its case.
Following the arguments, Sowore withdrew the request, acknowledging that the evidence he sought could be obtained through another DSS official.
Justice Mohammed Umar subsequently adjourned the matter until August 3 for the continuation of the defence in the criminal defamation trial.
NEWS
16 Feared Dead as Armed Herdsmen Unleash Fresh Terror in Benue
Fresh violence has engulfed parts of Benue State following coordinated attacks by suspected armed herdsmen that left at least 16 people dead and several others injured in Otukpo and Kwande Local Government Areas.
The deadliest assault occurred in the early hours of Tuesday when gunmen stormed the Efeyi community in the Ugboju District of Otukpo LGA at about 4:00 a.m., opening fire on residents.
At least 14 people were reportedly killed, while many others sustained gunshot wounds and are receiving treatment in hospitals.
SEE MORE: Fresh Panic in Benue as Suspected Armed Herders Shoot Resident, Loot Shops
Residents said the attackers operated for several hours before security personnel arrived, raising fresh concerns over the slow response of security agencies to recurring attacks in the state.
A community source described the incident as heartbreaking, saying the attackers invaded the community around 4:00 a.m. and that security forces did not arrive until hours later, leaving residents helpless as the assailants unleashed terror.
Chairman of Otukpo Local Government Area, Maxwell Ogiri, confirmed the attack, disclosing that 14 bodies had been recovered while several injured victims were undergoing treatment.
According to him, the attack was unprovoked and carried out solely to kill innocent residents.
“14 dead bodies have been recovered, and many others are wounded. There was no provocation; it was simply to shed blood and kill innocent people,” Ogiri said.
He added that fear had gripped neighbouring communities, with many residents already abandoning their homes in search of safety.
The council chairman also questioned the effectiveness of security operations in the area despite the presence of military personnel, police officers, mobile police units and agro-rangers.
He urged the government to fully enforce the state’s anti-open grazing law, insisting that stronger action was needed to tackle the recurring violence.
Ogiri maintained that the attacks were carried out by suspected militia herdsmen, noting that communities in the area had come under repeated assaults in recent days.
Earlier on Monday, another farmer was reportedly killed while working on his farmland in Ipom community, also in Otukpo LGA.
In a separate incident on the same day, suspected armed herdsmen invaded Abaji community in Kwande LGA, where they opened fire on farmers cultivating Bambara nuts.
A woman who sustained gunshot injuries later died, while the attackers reportedly fled with two motorcycles belonging to farmers who escaped the attack.
A survivor recalled the terrifying moment, saying the farmers noticed suspicious movements before the gunmen suddenly opened fire, forcing everyone to flee and abandon their farming tools.
NEWS
‘They Killed a Cat Thinking It Was Me’ — Sunday Igboho Reveals How He Escaped 2021 DSS Raid
Yoruba Nation activist, Sunday Adeyemo, popularly known as Sunday Igboho, has narrated what he described as the dramatic circumstances surrounding his escape during the Department of State Services (DSS) raid on his Ibadan residence in July 2021.
Speaking on Monday while hosting a delegation of Muslim clerics at his residence in Ibadan, Oyo State, Igboho claimed he remained inside his house throughout the operation despite the security operatives’ efforts to locate and arrest him.
According to the activist, the DSS operatives stormed his residence around 1:30 a.m., firing gunshots after hearing his voice before allegedly using explosives to force their way into the building.
SEE MORE: “I Know the Politicians Behind Oyo School Kidnap, I’ll Expose Them All” — Sunday Igboho
“When they came around 1:30 am, I heard a sound and was inquiring who it was; they started shooting at the room. They heard my voice. When they finally scaled the fence in, they planted a dynamite on the burglary, and everything completely fell apart. That was where they entered,” he said.
Igboho said he briefly considered surrendering but decided against it because he believed his life was in danger.
“One mind was telling me to surrender to them; the other was telling me not to surrender, else I would be killed.”
He further alleged that the operatives pointed a gun at his personal assistant, identified as Dudu, while attempting to force him to open a door.
Addressing widespread rumours that he transformed into a cat to evade arrest, Igboho dismissed the claims, insisting he never left the house during the operation.
“I didn’t turn into a cat. They even killed it, thinking it was me. They even brought a fake herbalist who was just making an incantation and performing a ritual. I was in the house watching them, but they didn’t see me.”
The Yoruba Nation campaigner also alleged that a partially blind relative was shot after security operatives mistakenly believed he intended to attack them.
Igboho attributed his survival to divine intervention, saying prayers earlier offered by Muslim clerics helped avert the danger.
“So it was God that saved me after a prayer that some Muslim clerics did in my house, forestalling a bad vision they claimed to have seen on me.”
The raid on Igboho’s Soka residence in Ibadan took place on July 1, 2021, following months of heightened tension between the activist and the Federal Government under the administration of former President Muhammadu Buhari.
At the time, the DSS announced that it recovered firearms and ammunition from the residence and arrested 13 of Igboho’s associates.
The agency also stated that two of his aides were killed during what it described as an exchange of gunfire.
Following the operation, Igboho fled Nigeria and was later arrested in Cotonou, Benin Republic, while attempting to travel to Germany.
He was subsequently released by Beninese authorities after months of legal proceedings and has remained in self-imposed exile in the Benin Republic, where he continues to campaign for the creation of a sovereign Yoruba Nation.





