NEWS
More Distributors Partner With Dangote As Petrol Price Drops To N840
The Dangote Refinery has announced a major reduction in the ex-depot price of Premium Motor Spirit (PMS), cutting the rate by N40 from N880 to N840 per litre.
The new pricing took effect on June 30, 2025.
This move comes as more independent petroleum marketers sign up to distribute the refinery’s products across Nigeria, expanding its retail footprint and boosting domestic fuel supply.
Confirming the development in Lagos, Dangote Group’s spokesperson, Mr. Anthony Chiejina, stated: “PMS price has been reduced from N880 to N840 per litre effective 30th June.”
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The previous hike to N880 was influenced by fluctuations in global crude oil prices, particularly due to a 12-day geopolitical conflict in the Middle East that drove crude oil costs close to $80 per barrel.
The refinery’s current distribution partners—MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil—are expected to adjust their pump prices to reflect the new rate.
Additionally, a fresh wave of marketers including TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, and several others have joined the refinery’s growing network.
The Dangote Refinery, recognized as the world’s largest single-train refinery, is not only increasing fuel availability but also investing heavily in reducing logistical costs.
Recently, the company revealed it has spent over N720 billion to deploy 4,000 Compressed Natural Gas (CNG)-powered trucks nationwide.
According to the refinery’s management, this investment is projected to save Nigerians over N1.7 trillion annually while absorbing more than N1.07 trillion in distribution expenses.
The initiative is expected to significantly reduce pump prices, curb inflation, and benefit over 42 million Micro, Small and Medium Enterprises (MSMEs) by lowering their energy costs.
In a further move to ease fuel access, Dangote Refinery announced it will begin direct delivery of petrol and diesel to filling stations, industrial zones, and large-scale consumers from August 15, 2025.
Former Labour Party presidential candidate in the 2023 general election, Peter Obi, on Thursday visited Bauchi State for a closed-door meeting with Governor Bala Mohammed amid growing political realignments in the country.
Obi, who is also a chieftain of the African Democratic Congress (ADC) opposition coalition, arrived at the Bauchi State Government House where he proceeded to a private meeting with the governor at the Presidential Lounge.
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The purpose of the visit was not immediately known as both politicians held discussions behind closed doors.
Details of the meeting remained undisclosed at the time of filing this report.
However, sources within the Government House suggested that the meeting may be connected to recent political developments and possible alignments ahead of future elections, though this could not be independently verified.
Both leaders are expected to brief journalists after the meeting concludes.
Governor Bala Mohammed, who serves as Chairman of the Peoples Democratic Party (PDP) Governors’ Forum, has recently been at the center of political speculation regarding his party allegiance.
On March 31, he reportedly hinted at a possible political shift during a meeting with a delegation of the African Democratic Congress led by former Secretary to the Government of the Federation, Babachir Lawal, at the Government House in Bauchi.
However, his political engagements appeared to take a different turn shortly after, as he also hosted the National Chairman of the All Progressives Congress (APC), Nentawe Yilwatda, alongside Kano State Governor, Abba Yusuf, on April 1 at the same venue.
The latest meeting with Obi has further intensified speculation about ongoing political consultations and possible future alignments among key political actors.
President Bola Tinubu has requested the approval of the Senate for a fresh external borrowing of $516.33 million, in a move that is expected to further raise concerns over Nigeria’s growing debt profile.
The request was contained in a letter addressed to the President of the Senate, Godswill Akpabio, and was read during plenary on Thursday at the National Assembly.
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According to the letter, the proposed loan is to be sourced from Deutsche Bank and will be used to finance a key infrastructure component under the government’s already approved borrowing programme—the Sokoto–Badagry Super Highway project, a major road corridor designed to enhance connectivity across the country.
President Tinubu, in the request, urged the Senate to give the proposal expedited consideration and approval, stressing the importance of the project to national infrastructure development and economic growth.
Following the reading of the letter, Senate President Akpabio referred the request to the Senate Committee on Local and Foreign Debts, directing the committee to examine the proposal and submit its report within one week.
The latest borrowing request comes amid ongoing national debates over Nigeria’s debt sustainability, as the federal government continues to rely on external loans to fund large-scale infrastructure projects.
A Kaduna State High Court has rejected the bail application filed by former Kaduna State Governor, Nasir El-Rufai, ordering that he remain in the custody of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) pending the determination of his trial.
The ruling was delivered by Justice D.H. Khobo, who held that the seriousness of the allegations against the former governor, as well as concerns over possible interference with ongoing investigations, made the grant of bail inappropriate at this stage.
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El-Rufai had approached the court seeking release on bail pending trial over a nine-count charge filed by the Federal Government through the Independent Corrupt Practices and Other Related Offences Commission.
He argued that the offences were not capital in nature and that he posed no flight risk, citing his community ties, fixed residences, and willingness to cooperate with investigators.
He also told the court that he voluntarily returned to Nigeria to honour official invitations and challenged the validity of the charges, describing them as defective.
Additionally, he raised health concerns, requesting bail on medical grounds.
However, the prosecution opposed the application, insisting that the alleged offences were serious and economically damaging, with a likelihood that the defendant could interfere with witnesses and ongoing investigations.
In his ruling, Justice Khobo held that the gravity of the charges and the risk of interference outweighed the arguments for bail.
The court also ruled that insufficient medical evidence had been provided to justify release on health grounds.
The judge therefore ordered that El-Rufai remain in ICPC custody and directed that the trial proceed on an accelerated basis, fixing early hearing dates for the case.
The former governor will remain detained as proceedings continue in the high-profile corruption trial.
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