NEWS
Fuel Pricing: PETROAN Accuses Dangote Refinery Of Monopoly
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.
NEWS
President Tinubu Set For First Nationwide Media Chat Tonight
President Bola Ahmed Tinubu will hold his first Presidential Media Chat tonight, December 23, at 9 p.m.
The landmark event, announced by Bayo Onanuga, Special Adviser to the President on Information & Strategy, will be broadcast live on the Nigerian Television Authority (NTA) and the Federal Radio Corporation of Nigeria (FRCN).
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All other television and radio stations have been invited to join the simulcast, ensuring nationwide access.
This highly anticipated media engagement offers an opportunity for President Tinubu to address key national issues, outline his administration’s achievements, and shed light on policies shaping the future of the nation.
Nigerians are encouraged to tune in to stay informed about the government’s vision and policies for the nation.
NEWS
FCT Health Sector On Brink As Doctors Warn Of Looming Deadliest Strike
The Association of Resident Doctors, Federal Capital Territory Administration (ARD-FCTA), has sounded an alarm over an impending healthcare crisis, issuing a 14-day ultimatum to FCT Minister Nyesom Wike.
The doctors have threatened a “deadliest shutdown” of hospital operations if their welfare demands remain unresolved.
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Speaking at a press briefing in Abuja on Monday, ARD-FCTA President, Dr. George Ebong, highlighted the dire state of doctors’ welfare, despite acknowledging the minister’s achievements in infrastructural development.
He said, “We appreciate the minister for his infrastructural development in the FCT since his emergence. But doctors are an abandoned project. While he fixes infrastructural abandoned projects, we are the human abandoned projects. We believe the minister can deal with the challenge.”
List of Demands
The doctors are calling for immediate action on the following issues:
- Payment of six months’ salary arrears owed to members employed in 2023.
- Release of the 2024 Medical Residency Training Fund.
- Reduction of the bonding policy from six years to two.
- Implementation of skipping allowances for 2023 intakes and issuance of related letters.
- Immediate payment of 2024 accoutrement allowances.
- Clearance of 13 months’ hazard allowance arrears.
- Conversion of ARD Post 2 members to consultants.
- Recruitment of healthcare workers to address manpower shortages.
The association had earlier issued a 21-day ultimatum at its Annual General Meeting, with just 14 days now remaining for the minister to meet their demands.
Dr. Ebong warned that failure to act would lead to a complete shutdown of medical services in the FCT, describing the potential strike as “the deadliest shutdown.”
Ebong said, “This injustice is alien to the FCT; if allowed to persist, the nation’s health sector will collapse. We do not want the deadliest shutdown, but if no action is taken, we will have no choice. The health of this nation is at stake, and the minister must act without delay.”
The association called on Wike to urgently address their grievances, emphasizing that the welfare of medical professionals is vital for the sustainability of healthcare delivery in the FCT and beyond.
NEWS
NNPC Cuts Petrol Price To N965 Per Litre
The Nigerian National Petroleum Company (NNPC) Limited has reduced the pump price of petrol at its retail outlets in Abuja to N965 per litre, down from N1,030 per litre.
The new pricing, confirmed at NNPC stations in the Central Area and Nyanya suburbs of the Federal Capital Territory, reflects intensified competition in the downstream petroleum market, particularly with the entry of products from the Dangote Refinery.
This is the second price cut by NNPC in two weeks, following a previous reduction from N1,060 to N1,030 per litre.
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Motorists have expressed cautious optimism over the adjustment, describing it as a step in the right direction but calling for further reductions.
“I noticed the new price yesterday,” said Adamu Shuaibu, a commercial driver on the Nyanya-Zuba route.
“The government is trying, but they should do more. The price should return to N530 per litre so that the cost of other goods can decrease too.”
Similarly, Taofeek Adetunji, a private car owner, attributed the price reduction to President Bola Tinubu’s economic reforms and expressed hope for sustained improvements.
“When the President promised his reforms would yield results, many doubted him. But now you can see it. We are optimistic that prices will keep dropping. Petrol is vital to the economy, and this reduction will soon reflect in the cost of goods and services,” Adetunji said.
Motorists have urged the Federal Government to continue its efforts to make petrol more affordable, emphasizing its significance to the nation’s economy and the cost of living.