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Fuel Pricing: PETROAN Accuses Dangote Refinery Of Monopoly

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The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised concerns over alleged monopolistic practices by Dangote Refinery, following a public dispute about fuel pricing in the downstream petroleum sector.

Recall that the refinery, Africa’s largest, recently disclosed its petrol pricing at N990 per litre in trucks and N960 per litre into ships, a move it justifies as being in line with international rates.

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PETROAN, however, sees this as an attempt to suppress competitors and dominate the Nigerian market.

The rift began when Dangote Refinery claimed that complaints from marketers regarding its pricing were fueled by intentions to import cheaper, potentially substandard products.

In response, PETROAN strongly rejected these allegations, suggesting that Dangote’s claims are tactics designed to maintain a monopoly in the sector.

Joseph Obele, PETROAN’s spokesperson, stated that the association remains committed to importing high-quality products at more competitive rates to ensure affordability for Nigerian consumers.

According to PETROAN, competition in the market is essential for achieving fair pricing, and any attempt to stifle it would be detrimental to consumers.

They argue that Dangote Refinery’s pricing should reflect production costs and fair margins rather than international benchmarks, especially given concessions granted by the government for the refinery’s establishment.

PETROAN also announced its plans to partner with foreign refineries and financial backers to import premium-quality petroleum products at prices below current rates.

The association aims to enter the market by December 2024, pending necessary regulatory approvals.

“The allegations that PETROAN will import substandard products are unfounded and aimed at creating an unfair playing field,” the statement read.

PETROAN warned that similar claims in the past had led to significant price hikes when competitors were pushed out, emphasizing that the entry of new players into the market would lead to more competitive pricing and ultimately benefit Nigerian consumers.

PETROAN expressed appreciation for President Bola Tinubu’s commitment to revitalizing Nigeria’s state-owned refineries and urged the government to consider privatizing the Port Harcourt and Warri refineries once rehabilitation is complete.

The association believes a transparent privatization process will help strengthen Nigeria’s downstream sector and counter monopolistic tendencies.

To address the ongoing pricing challenges in the sector, PETROAN called on the government to convene a comprehensive meeting of industry stakeholders, including major associations like IPMAN, DAPPMAN, MEMAN, NUPENG, and PENGASSAN.

PETROAN believes that collaboration among these groups will be instrumental in establishing a sustainable and competitive pricing framework for petroleum products in Nigeria.

 

 

International News

Turkish Model Arrested Over Plan To Sleep With 100 Men In 24 Hours

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A 23-year-old Turkish OnlyFans model, Ezra Vandan, also known as Azranur AV, has been detained in Istanbul for publicly announcing her plan to engage in sexual activity with 100 men within 24 hours.

The announcement, made on social media, sparked outrage and led to her arrest by the Istanbul Security Branch Directorate’s Morality Bureau.

Vandan had shared her intentions on January 14, 2025, posting a photo of herself in red lingerie with the caption: “My goal is to break a Turkish record first, then a world record! I’m starting with 100 men in 24 hours.”

She reportedly planned to live-stream the event, which was widely criticised as “obscene” and “damaging to societal morals.”

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According to reports, the post drew the attention of authorities, who initiated an investigation and apprehended her while she awaited a cosmetic surgery operation in Atasehir. Footage captured her being escorted down the stairs of a hospital by female officers, her wrists bound behind her.

In a controversial twist, Vandan allegedly uploaded a revealing image taken during her arrest by a police officer, captioning it, “I had the photo taken by one of the officers, he didn’t object much.”

Her husband, Pedram Behdar Vandan, 25, was also briefly detained but later released.

The Istanbul 6th Criminal Judgeship of Peace has charged Vandan with obscenity, resisting an officer on duty, and slander, stating that her actions and posts were “damaging to moral values” and “provocative to society.”

Defending herself in court, Vandan argued that her posts were personal and did not harm anyone. “I do not deserve to be judged,” she said.

The case has reignited debates in Turkey about personal freedom and societal values.

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International News

Train Accident In Maharashtra Claims 11 Lives After Panic Over Fire Alarm

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Eleven passengers tragically lost their lives on Wednesday in Maharashtra, India, after jumping off a moving train amid fears of a fire, only to be struck by an oncoming train.

The incident occurred in Jalgaon district, approximately 400 kilometres from Mumbai, and has once again highlighted safety issues in India’s extensive railway network, which serves millions of passengers daily.

Ayush Prasad, a senior district official, confirmed the fatalities and stated that five other passengers are receiving medical treatment. “People were run over by a train,” he said, without clarifying if the fire alarm was genuine or false.

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According to a spokesperson for Indian Railways, the chaos began when someone activated the “alarm chain” on the Mumbai-bound train, prompting several passengers to disembark. Tragically, they were struck by a train traveling in the opposite direction.

India’s interior minister, Amit Shah, expressed his grief over the incident, saying, “Deepest condolences to the families of those who lost their lives in this accident.” Maharashtra’s chief minister, Devendra Fadnavis, described the tragedy as “deeply disturbing” and said he was “deeply saddened by the tragic loss of lives” in a post on X (formerly Twitter).

Despite efforts to modernise the railway infrastructure with a $30 billion investment aimed at improving safety and connectivity, accidents remain a significant concern. Official records indicate that an average of 20,000 people died annually in rail-related accidents between 2017 and 2021.

In 2023, one of the country’s deadliest rail disasters claimed nearly 300 lives when a passenger train collided with a stationary goods train, leading to further collisions.

India continues to grapple with balancing its rapid economic growth with ensuring the safety of its ageing railway network.

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NEWS

Joy In Enugu As Beatrice Ekweremadu Released From UK Prison

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Mrs Beatrice Ekweremadu, wife of Nigeria’s former Deputy Senate President, Senator Ike Ekweremadu, has been released from a United Kingdom prison after serving her sentence.

Sources confirmed that she returned to Nigeria on Tuesday and is currently in Abuja.

The news of her release has sparked widespread celebration in her hometown of Mpu, located in the Aninri Local Government Area of Enugu State.

Mrs Ekweremadu was jailed in 2023 alongside her husband and one Obinna Obeta for an organ-trafficking plot. While Beatrice has returned home, her husband remains in custody, prompting prayers from the community for his release.

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Mr Benjamin Chijioke, President of the Mpu Town Union Federated, expressed immense relief and joy over her return. “Our joy as Mpu people knows no bounds. It is a great day for us. Since morning, it has been jubilation and celebration in all the villages. People are shedding tears of joy, especially those who depended on the philanthropic disposition of the family to survive,” Chijioke said. He also prayed for Senator Ekweremadu’s safe return, noting the significant setback their absence had caused the community.

Ogbuka Edwin, the councillor of Mpu Ward, described the day as a “public holiday” in the community. “The absence of Senator Ike Ekweremadu and his wife created a big gap in the community. We are not going to relent in our prayers until our hero and leader joins his family, and we are trusting what God can do. It is celebration galore,” Edwin stated.

The entire Mpu community came alive on the Orie market day, with jubilations marking the family’s partial reunion. Meanwhile, supporters continue to hope and pray for the Senator’s eventual release.

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