The Dangote Petroleum Refinery and Petrochemicals (DPRP) has announced a reduction in the ex-depot prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel).

A company statement on Wednesday has it that the price reduction, which is part of reaffirmation of the company’s commitment to providing affordable, high-quality petroleum products to the Nigerian market is effective Thursday 6th of August, 2026.

Under the new pricing structure, the refinery has reduced the ex-depot price of PMS to N1,165 per litre, down from N1,215 per litre, representing a reduction of N50 per litre. Similarly, the ex-depot price of Diesel has been reduced to N1,570 per litre from N1,650 per litre, amounting to a decrease of N80 per litre.

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The price review reflects Dangote Refinery’s ongoing efforts to enhance energy affordability, improve access to refined petroleum products, and support economic activities across Nigeria. The refinery remains committed to ensuring stable supply while leveraging operational efficiencies to deliver value to consumers, businesses, and stakeholders.

As Africa’s largest refinery, Dangote Petroleum Refinery continues to play a pivotal role in strengthening Nigeria’s energy security, reducing reliance on imports, and supporting the nation’s economic development through the supply of world-class petroleum products.

The company reaffirmed its dedication to contributing to the growth of the Nigerian economy and passing on the benefits of improved operational efficiencies to consumers whenever market conditions permit.

Three people have lost their lives, while three others sustained varying degrees of injuries following a tragic road accident involving a crane and a truck along the Sagamu-Benin Expressway in Ogun State.

The fatal crash occurred at about 5:00 a.m. on Wednesday near Babcock Junction in Ikenne Local Government Area.

Confirming the incident, the spokesperson for the Ogun State Traffic Compliance and Enforcement Agency (TRACE), Babatunde Akinbiyi, said the accident involved a white Mercedes-Benz truck with registration number LG 59 BLF and a yellow crane without a registration number.

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According to Akinbiyi, preliminary investigations showed that the crane was travelling against traffic at excessive speed when it collided head-on with the oncoming truck.

He disclosed that six people—three males and three females—were involved in the crash.

“A total of three persons, comprising two males and one female, lost their lives, while three male victims sustained varying degrees of injuries,” Akinbiyi said.

He added that emergency responders from TRACE, the Federal Road Safety Corps (FRSC), the Nigeria Police Force, and a rescue team known as “Papa Oscar” swiftly arrived at the scene to rescue victims and manage the situation.

The injured victims were taken to the Babcock University Teaching Hospital for treatment, while the bodies of the deceased were deposited at the Olabisi Onabanjo University Teaching Hospital (OOUTH) morgue in Sagamu.

To ease traffic flow, authorities diverted vehicles from Delabo Junction to the second carriageway as efforts continued to evacuate the damaged vehicles from the highway.

Akinbiyi commiserated with the families of the deceased and cautioned motorists against dangerous traffic violations.

“Motorists should avoid route violation and driving against traffic, considering the grave consequences associated with such dangerous acts,” he said.

A businessman, Gbenga Collins, has told the House of Representatives Ad Hoc Committee investigating the Presidential Foreign Investment Promotion Council (PFIPC) that he paid ₦400 million to the council’s embattled Director-General, Adeniyi Adeyemi, to facilitate the award of a government contract.

Collins made the allegation on Wednesday while testifying before the committee probing the establishment and operations of the controversial council.

According to the businessman, he travelled to Abuja where he was officially received by Adeyemi in what he described as an atmosphere befitting the head of a government agency, a development that convinced him the council was legitimate.

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He told lawmakers that Adeyemi later handed him a contract award letter, the scope of work, and an agreement authorising his company to execute the renovation and furnishing of the Director-General’s official residence.

“He gave me a contract award letter, the scope of work and, at the same time, the agreement with my company to execute that refurbishment project and asked me to pay the sum of ₦400 million for the facilitation of that project to show my strength that I would be able to handle it and that it would also fast-track the mobilisation for the contract,” Collins told the committee.

Chairman of the ad hoc committee, Yusuf Gagdi, disclosed that Adeyemi’s continued absence from the hearings was because he is currently in police custody and is also being investigated by anti-graft agencies.

Gagdi further revealed that the committee intends to meet with Adeyemi discreetly as part of its ongoing investigation.

As part of the probe, the committee also summoned the Corps Marshal of the Federal Road Safety Corps (FRSC) over the alleged use of official Federal Government number plates on vehicles linked to the disputed council.

The House panel is investigating allegations that the PFIPC operated without lawful authority despite being captured in the 2026 Appropriation Act.

The probe followed allegations by Adeyemi that the Chief of Staff to the President, Femi Gbajabiamila, demanded 48 per cent of the council’s proposed ₦27.3 billion take-off grant. Adeyemi also alleged that the Chief of Staff received ₦400 million through a proxy and later requested an additional ₦200 million to facilitate presidential approvals.

Gbajabiamila has denied all the allegations, maintaining that he has no personal, official or professional relationship with Adeyemi.

He also rejected claims that he demanded or received money, interfered with investigations, or had any connection to allegations surrounding the death of Babatunde Tanimola or an alleged assassination attempt on Adeyemi.

Following the allegations, President Bola Tinubu directed the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the matter.

The House of Representatives subsequently constituted a 12-member ad hoc committee to investigate the circumstances surrounding the establishment of the PFIPC, how it was included in the 2026 Appropriation Act, and the alleged allocation of about ₦1.3 billion to the council.

Meanwhile, the Director-General of the Budget Office of the Federation, Tanimu Yakubu, had earlier informed the committee that none of the funds appropriated for the PFIPC had been released or spent because the statutory conditions required for their disbursement and utilisation were never met.