NEWS
Int’l Trading Coy Hires Blending Facility Next To Dangote Refinery, Hoping To Flood Nig With Substandard Products
Another intriguing twist has emerged in the flux of narratives around the prices of refined petroleum products in the Nigerian market.
The Dangote Refinery in a statement on Sunday cautioned that “an international trading company has recently hired a depot facility next to the Dangote Refinery, with the objective of using it to blend substandard products that will be dumped into the market.”
The Group Chief Branding and Communications Officer, Dangote, Anthony Chiejina, signed the statement, which was vented at its verified handle on micro-blogging site, X.
Biztellers reports that Dangote was reacting to recent stance by members of the refined petroleum marketing community, that imported products were more affordable that what the Nigerian based refinery was offering.
ALSO READ: Sustainability: Dangote Eyes Planting 10,000 Mangrove Trees In Nigeria
The Nigerian based refinery has now countered that the only such possibility would be, if the products were of less quality, which would consist a risk to the public health, though it lamented that this might be hard to ascertain because the industry regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) lacked the facility to assess and enforce quality control.
Chiejine stated, “Unfortunately, the regulator (NMDPRA) does not even have laboratory facilities which can be used to detect substandard products when imported into the country.”
He made it clear that the company had benchmarks “our prices against international prices”, and the Nigerian National Petroleum Company Limited (NNPC Ltd) had set the pricing tone at N971/litre and N990/litre to marketers and into trucks, respectively, which guided the Dangote Refinery into selling to trucks for the domestic market at a discounted N960/litre.
“Post deregulation, NNPC set the pace by selling PMS to domestic marketers at N971 per litre for sale into ships and at N990 for sale into trucks. This set the benchmark for our pricing, and we have even gone lower to sell at N960 per litre for sale into ships while maintaining N990 per litre for sale into trucks,” he added.
The statement reads, “We had lately refrained from engaging in media fights, but we are constrained to respond to the recent misinformation being circulated by IPMAN, PETROAN, and other associations.
“Both organisations claim that they can import PMS at lower prices than what is being sold by the Dangote Refinery. We benchmark our prices against international prices, and we believe our prices are competitive relative to the price of imports. If anyone claims they can land PMS at a price cheaper than what we are selling, then they are importing substandard products and conniving with international traders to dump low quality products into the country, without concern for the health of Nigerians or the longevity of their vehicles. Unfortunately, the regulator (NMDPRA) does not even have laboratory facilities which can be used to detect substandard products when imported into the country.
“Post deregulation, NNPC set the pace by selling PMS to domestic marketers at N971 per litre for sale into ships and at N990 for sale into trucks. This set the benchmark for our pricing, and we have even gone lower to sell at N960 per litre for sale into ships while maintaining N990 per litre for sale into trucks.
“In good faith, and in the interest of the country, we commenced sales at these prices without clarity on the exchange rate that we will use to pay for the crude purchased.
“At the same time, an international trading company has recently hired a depot facility next to the Dangote Refinery, with the objective of using it to blend substandard products that will be dumped into the market to compete with Dangote Refinery’s higher quality production.
“This is detrimental to the growth of domestic refining in Nigeria. We should point out that it is not unusual for countries to protect their domestic industries in order to provide jobs and grow the economy. For example, the US and Europe have had to impose high tariffs on EVs and microchips in order to protect their domestic industries.
“While we continue with our determination to provide affordable, good quality, domestically refined petroleum product in Nigeria, we call on the public to disregard the deliberate disinformation being circulated by agents of people who prefer for us to continue to export jobs and import poverty.”
International News
Petro Warns Colombia Is Heading Toward Civil War After Alleged Election Fraud
Colombia’s outgoing President, Gustavo Petro, has warned that the country could descend into civil war following what he described as widespread fraud in the recent presidential election.
Speaking at a press conference on Monday, Petro claimed that the June presidential runoff was tainted by “algorithmic, systemic electoral fraud” involving a massive number of votes, insisting the results were manipulated against his political ally, Ivan Cepeda.
SEE MORE: Osun Election: Gunmen Invade PVC Centre, Cart Away Voter Cards
“We are facing fraud and an undoubtedly profound institutional problem, namely the inauguration of an illegitimate president,” Petro said.
The outgoing leader alleged that “foreign money and foreign companies with the capacity to manipulate algorithms” interfered in Colombia’s electoral process, accusing external actors of influencing the outcome of the election.
Petro’s remarks come just days before president-elect Abelardo de la Espriella is due to be sworn into office on Friday in the southwestern city of Cali, a departure from the longstanding tradition of holding presidential inaugurations before Congress in the capital, Bogota.
The Colombian leader also claimed that De la Espriella, who received the endorsement of United States President Donald Trump before the election, plans to extradite him to the United States on what he described as false charges.
Warning of the potential consequences, Petro said, “It’s crystal clear what a civil war in Colombia could look like,” arguing that public resistance to the incoming administration’s actions could trigger widespread unrest.
The political crisis has deepened further after the left-wing bloc in Congress, led by Cepeda, announced it would boycott De la Espriella’s inauguration and called for nationwide mobilization against the president-elect.
Observers have also raised concerns that Colombia could witness a return to violent street protests similar to those experienced between 2019 and 2021, which left dozens dead.
Despite having no prior political experience, De la Espriella has pledged to boost private investment, shrink the size of government by 40 percent, and intensify military operations against guerrilla groups and drug cartels as the country battles its worst surge in violence in a decade.
His inauguration is scheduled for Friday amid heightened political tensions and growing uncertainty over Colombia’s future.
NEWS
‘Nigerians Can’t Eat GDP’ — Atiku Tears Into Tinubu’s Economic Record
Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has criticised the Federal Government’s claims that Nigeria’s economy is on the path to recovery, arguing that worsening hardship and the decline of the country’s manufacturing sector paint a different picture.
Atiku made the remarks in a statement issued on Monday by his Senior Special Assistant on Public Communication, Phrank Shaibu, accusing the Presidency of relying on “propaganda” and macroeconomic statistics that do not reflect the realities faced by ordinary Nigerians.
SEE ALSO: Win 2027 at the Ballot, Not in Court – Atiku to Politicians
According to the former vice president, the continued shutdown of manufacturing firms and the financial distress confronting many others are clear indications that the economy is deteriorating despite official claims of progress.
“A government cannot claim its economic policies are working when the country’s industrial sector is actively shutting down. Nations do not build prosperity by celebrating macroeconomic statistics while their factories close their gates,” the statement read.
Citing figures from the Manufacturers Association of Nigeria (MAN), Atiku said 767 manufacturing companies had shut down, while another 335 were operating under severe distress.
He also claimed that manufacturers were holding about ₦2.14 trillion worth of unsold finished goods, blaming the situation on the collapse in consumers’ purchasing power.
According to him, several multinational companies, including Procter & Gamble, GlaxoSmithKline, Sanofi and Kimberly-Clark, have either exited local manufacturing or shut down production in Nigeria, while some indigenous firms have also suspended operations.
Atiku further alleged that manufacturers spent approximately ₦1.1 trillion on diesel to power their factories due to unreliable electricity supply and rising energy costs.
“Factories do not shut down because the opposition writes press statements. Manufacturers do not accumulate trillions of naira in unsold goods because critics hold press conferences.
“They leave because the economic environment has become increasingly hostile to production, investment and enterprise,” he stated.
The ADC presidential candidate argued that while the Presidency continues to celebrate improvements in Gross Domestic Product (GDP), debt ratios and other macroeconomic indicators, millions of Nigerians are struggling with rising food prices, unemployment and declining purchasing power.
He questioned why poverty and food insecurity remain widespread if the government’s reforms are yielding the benefits being advertised.
“Governments are not elected to improve spreadsheets. They are elected to improve the lives of their people. Nigerians cannot eat GDP. They cannot cook with debt-to-GDP ratios. They cannot pay school fees with statistical projections,” Atiku said.
The former vice president also criticised the administration’s continued borrowing despite claims that government revenues had improved following the removal of petrol subsidy and reforms in tax administration.
He challenged the Federal Government to explain why borrowing remains at record levels if fiscal reforms have significantly strengthened public finances.
Atiku further accused the administration of failing to demonstrate how the gains from subsidy removal have translated into improved infrastructure, healthcare, education and social welfare, maintaining that Nigerians deserve to know where the promised dividends of the policy have gone after enduring record fuel prices, soaring transport costs and a sharp rise in the cost of living.
The statement came in response to the Presidency’s recent defence of President Bola Tinubu’s economic reforms, in which it argued that policies such as fuel subsidy removal and exchange-rate liberalisation had stabilised the economy and laid the foundation for long-term growth.
NEWS
JUST IN: Abducted Kebbi Judge Finally Regains Freedom, Returns Home Safely
There was relief and celebration in Kebbi State on Monday as abducted High Court Judge, Hon. Justice Faruku Hassan Bunza, regained his freedom after spending one week in the custody of suspected bandits.
A family member confirmed the development, revealing that the judge had safely returned home a few hours before speaking to journalists.
SEE MORE: Bandits Kidnap Kebbi High Court Judge in Midnight Home Invasion
“We are in jubilation and full of gratitude to God for seeing our own return safely from captivity. He was just released and has returned home now after spending one week with the bandits,” the relative said.
The family also expressed appreciation to the Kebbi State Judiciary, security agencies, and residents of the state for their prayers, support, and solidarity throughout the period of the judge’s captivity.
“We sincerely thank and appreciate the Kebbi State Judiciary, the security agencies, and the entire people of Kebbi State who contributed in different ways, offered prayers, and sent messages of sympathy. Your concern and support gave us strength, and we are grateful for your solidarity,” the family member added.
Although the judge’s release has been confirmed, the circumstances surrounding how he regained his freedom remain unclear.
“Other details of how he was released will be made available later,” the source said.
As of the time of filing this report, neither the Kebbi State Judiciary nor security agencies had issued an official statement regarding the judge’s release.
Biz tellers recalls that Justice Bunza was abducted last week, triggering widespread concern across Kebbi State and prompting calls from residents and stakeholders for his immediate and unconditional release.





