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).
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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
EndSARS Memorial: ‘Nigerians Still Deserve Answers’ – Atiku
Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has said Nigerians still deserve answers six years after the October 20, 2020, EndSARS shooting at the Lekki Toll Gate in Lagos.
Atiku made this known in a statement on Tuesday marking the sixth anniversary of the incident, in which he called for accountability over the shooting and criticised the Federal Government’s handling of the unresolved questions surrounding the tragedy.
He questioned who gave the order for the operation against protesters, insisting that the country could not continue to commemorate the victims without addressing the circumstances surrounding the incident.
RELATED NEWS: EndSARS Memorial: ‘We Must Never Normalise Injustice’ – Peter Obi
Atiku also recalled President Bola Tinubu’s remarks in October 2020, when he questioned the circumstances surrounding the casualties recorded during the shooting.
Tinubu had asked: “How were they there? How long were they there? What kind of characters are they?”
According to Atiku, the remarks appeared to focus on questioning the victims rather than demanding answers from those responsible for the violence against peaceful protesters.
He said the anger surrounding the anniversary reflected the unresolved grief of affected families and the distrust of young Nigerians who had demanded accountability and a better future.
“The APC has governed Nigeria through these six years. It cannot keep asking Nigerians to remember the dead while refusing to confront the unanswered questions,” Atiku said.
The ADC presidential candidate also linked the unresolved questions surrounding the Lekki shooting to the economic hardship confronting Nigerians, particularly young people struggling with rising living costs.
Citing petrol prices of ₦1,405 per litre, Atiku said transportation costs were making it increasingly difficult for Nigerians to afford basic necessities, including food, rent, education and commuting to work.
He illustrated the situation with the account of a young woman who reportedly resigned from her job because her salary could no longer cover her transportation expenses.
According to Atiku, one of his aides shared the woman’s experience earlier on Tuesday.
The woman reportedly said: “The pay no longer covers transport. Everything in Nigeria just dey increase in price. Feels like I’m working for Bolt guys.”
Atiku described the experience as an example of the difficulties faced by employed Nigerians whose earnings could no longer adequately cover the cost of getting to work.
He argued that the economic situation was affecting not only unemployed Nigerians but also workers struggling to survive on salaries weakened by rising costs.
The former vice president also highlighted his Economic Recovery Plan, which he said was designed to make Nigeria more affordable.
The proposed measures include providing support tied to fuel refined in Nigeria, passing savings on to consumers, increasing local production to create jobs, protecting minimum-wage earners, supporting students and cutting government waste rather than imposing additional taxes.
Atiku maintained that young Nigerians deserved answers about the Lekki shooting, a government that protects human life and an economy in which employment could provide a path to a better standard of living.
He added that Nigerians were entitled to question the APC’s record on accountability and economic opportunities six years after the incident.
The EndSARS protests began in October 2020, with young Nigerians demanding an end to police brutality and reforms to policing in the country. The shooting at the Lekki Toll Gate on October 20 became one of the most prominent events associated with the protests.
NEWS
EndSARS Memorial: ‘We Must Never Normalise Injustice’ – Peter Obi
National Democratic Congress (NDC) presidential candidate, Peter Obi, has called on Nigerians never to normalise injustice as the country marks the sixth anniversary of the Lekki Toll Gate shootings during the #EndSARS protests.
Obi made the call in a statement posted on his X account on Tuesday, October 20, 2026, in which he reflected on the events of October 20, 2020, and renewed his call for a Nigeria where citizens’ rights are protected.
He expressed appreciation for Nigerian youths who participated in the protests, describing the anniversary as a painful reminder of the sacrifices made in the demand for a better country.
SEE ALSO: BREAKING: Activists Arrested For Commemorating #Endsars Released
According to him, peaceful #EndSARS protesters were met with gunfire at the Lekki Toll Gate on that fateful night, leaving people dead and others injured.
He noted that the incident raised questions about justice, accountability and respect for human life.
“We must never forget. We must never normalise injustice,” Obi said.
He also reaffirmed his belief that a New Nigeria is possible, describing it as a country where citizens are protected rather than brutalised, young people are heard rather than silenced, and government power is exercised responsibly and with respect for human rights.
The former Anambra State governor stressed that Nigeria must become a nation where no citizen is punished for demanding good governance and a better future.
As the country marks six years since the incident, Obi prayed for the repose of the souls of those who lost their lives and called for their sacrifices to strengthen efforts towards building a better nation.
“May the souls of the departed continue to rest in peace. May their sacrifice strengthen our resolve to build a Nigeria where this tragedy will never be repeated,” he stated.
He concluded by reiterating his belief in the possibility of a New Nigeria, insisting that the country must become one where every life matters.
NEWS
JUST IN: Ex-Delta Governor Emmanuel Uduaghan Is Dead
Former Delta State Governor, Dr Emmanuel Uduaghan, has reportedly died, according to sources said to be close to his family.
The sources confirmed the development on Monday, October 19, 2026, although details surrounding the circumstances of his death remained unclear as of the time of filing this report.
“Uduaghan is no more; he is dead,” one of the sources reportedly said.
SEE ALSO: Document reveals Akpoti-Uduaghan demanded N10b damages from husband before marriage, firm reacts
The reported death comes months after claims that the former governor had died circulated on social media before being dismissed by his media aide, Henry Unini.
In June, reports of Uduaghan’s alleged death spread across Facebook and WhatsApp, prompting Unini to publicly debunk the claims and assure the public that the former governor was alive.
“I can tell you for a fact that Dr. Emmanuel Uduaghan is alive,” Unini said at the time.
“Frankly, I don’t know where the writer got his information from. The death of someone is not something you take and write about casually,” he added.
Unini acknowledged at the time that Uduaghan had been experiencing health challenges but maintained that he was receiving medical attention.
“It is now common knowledge that Dr. Emmanuel Uduaghan has been sick, but he is receiving proper medical care,” the media aide said.
He also stated that the former governor was recuperating, assuring the public that there was no immediate cause for concern.
“There is no cause for alarm whatsoever,” Unini said.
The media aide thanked friends, well-wishers and residents of Delta State who contacted the family to verify the former governor’s condition. He also urged the public to avoid spreading unverified information.
“The rumour was uncalled for,” he said while addressing the earlier reports.
As of the time of filing this report, further details about the circumstances surrounding Uduaghan’s reported death had yet to emerge.





