NEWS
NNPC Reveals New Petrol Price In Nigeria
The managing director of the group, Mele Kyari, claimed that the NNPC could no longer maintain the N170 per litre pump price of fuel.
According to the Nigerian National Petroleum Company Limited, as the administration of President Muhammadu Buhari moves closer to ending the period of fuel subsidies, premium motor spirit (petrol) cannot sell for less than N510 per litre.
When speaking at the Legislative Transparency and Accountability Summit, which was held by the House of Representatives Committee on Anti-Corruption on Wednesday in Abuja, Mele Kyari, the group’s managing director, claimed that the NNPC could no longer keep up with the N170 per litre pump price of fuel.
Mr. Kyari claimed that it was difficult to sustain the N170 per litre pump price of fuel since PMS now costs N510, which is three times what it did when it was being sold for N170.
“It is not possible for you to buy fuel at N170 when your actual cost is thrice that value.For instance, today, when PMS comes into this country, we transfer to marketers at N113 per litre for us to ensure N165 at the pump,” Mr Kyari said.
“Everyone knows the price of PMS around the world. There is nowhere today that you can land a litre of PMS to the pumps at the N445 (to a dollar) exchange rate. It is not possible,” he added.
“So, you must sell at N113 to them to be able to deliver at N165, that means whatever the cost, anything after that value; that is subsidy. Somebody has to pay for it.”
His comments come as the Buhari administration is getting ready to completely end the fuel subsidy programme in order to address the country’s present economic issues.
The Buhari administration delayed the phase-out until next year because the Nigerian Labour Congress deemed it premature to remove subsidies this year. As a result, the administration will leave office next year, leaving the backlash for the succeeding administration to handle.
However, the World Bank and the International Monetary Fund have urged the Nigerian government to redirect the sizeable money used for subsidies toward resolving other economic problems that will enhance the quality of life for the vast majority of Nigerians.
NEWS
Dangote Preaches Ambition, Africa First to Nigerian Creatives
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has challenged Nigerian entrepreneurs and creative industry practitioners to think beyond conventional limits, build globally competitive enterprises and create enduring legacies, declaring that Africa must take responsibility for its own economic transformation rather than depend on foreign investors for prosperity.
Dangote gave the charge while hosting leading figures from Nigeria’s creative industry at the Dangote Petroleum Refinery and Petrochemicals complex in Lekki, Lagos, where he also disclosed that the Group was considering raising its US$100 billion Vision 2030 target in response to its expanding industrial investments and growth ambitions. The delegation, comprising Nollywood stars, content creators, comedians and other entertainment and lifestyle personalities, toured the industrial complex before engaging Dangote in a conversation on entrepreneurship, innovation, ambition, and legacy.
Addressing the creatives, Dangote urged Nigerians to match their creativity and entrepreneurial drive with discipline, perseverance and the courage to pursue ambitious projects, stressing that lasting success should be measured not merely by personal wealth but by the businesses built, opportunities created and contributions made to society.
“It is not just about money; it is about legacy. We have often been taken for granted, and in many ways, we have contributed to that by waiting for foreigners to come and make our continent prosperous. That will never happen. We must take responsibility for building Africa’s prosperity ourselves,” he declared.
READ ALSO: Renaissance, Sterling Bank Back Indigenous Oil and Gas Contractors Financially
Speaking on the Group’s long-term ambitions, Dangote revealed that its US$100 billion Vision 2030 target was being reconsidered, with a more ambitious target expected to be unveiled in January.
“We realised that our Vision 2030 target was too modest. We are working towards unveiling a new vision in January, with a revised target that reflects our ambition to achieve far more than US$100 billion,” he said.
He explained that the Group’s continued industrial expansion was driven by a determination to build enduring institutions, strengthen Africa’s productive capacity and demonstrate that the continent could develop enterprises capable of competing globally. Drawing lessons from Singapore’s economic transformation, Dangote said nations could overcome difficult beginnings through deliberate investment, enterprise and a commitment to developing their own capabilities. He challenged Nigerian entrepreneurs to reject limiting assumptions about what could be achieved, noting that transformative accomplishments often required the courage to pursue ideas others considered impossible.
Reflecting on his entrepreneurial journey and the development of the refinery, Dangote identified perseverance, disciplined execution and sound judgement as essential ingredients of business success. He cautioned, however, that ambition must be tempered by the ability to recognise when an investment was no longer commercially viable.
“Before embarking on any venture, you must carefully consider all the issues involved. We have made mistakes too, and I share these experiences so others can learn from them,” he said. “One important lesson is never to keep putting good money into a bad investment. Some situations are simply too difficult to turn around, no matter how much you invest.”
Turning to the creative industry, Dangote commended Nigerian entertainers for building a formidable international presence despite operating in a challenging business environment and receiving limited government support. He described Nollywood’s growing global influence as evidence of Nigeria’s creative potential, urging practitioners to build on their achievements through stronger business structures, innovation and collaboration. According to him, the industry’s next phase of growth should go beyond international recognition to building sustainable enterprises, creating employment and strengthening Nigeria’s position in the global creative economy.
Veteran Nollywood actor Richard Mofe-Damijo (RMD), who moderated the interactive session, praised Dangote’s accomplishments, describing his industrial investments as an enduring contribution to Nigeria’s development.
“Your legacy has already been built, and its continuation is assured. You deserve all the praise and recognition you have received for what you have accomplished,” RMD said.
Nollywood actor Abdullateef Adedimeji described the visit as an inspiration, saying the scale of the refinery had challenged him to raise his ambitions and pursue greater accomplishments in the creative industry.
“Coming here today is a source of motivation for us. As someone in the film industry, this experience inspires me to push beyond my limits, broaden my imagination and strive for greater achievements, including making a more meaningful impact in my community,” he said.
Adedimeji also called for greater collaboration among Nollywood practitioners, drawing lessons from the coordination and partnerships underpinning Dangote’s industrial operations.
“That is what we need in Nollywood. The more we collaborate, the stronger and more successful we become,” he said.
NEWS
Protest Against Oil Company’s Vessel in Rivers Takes 10 Lives
No fewer than 10 people are feared dead after a protest against a vessel belonging to an indigenous oil company turned tragic at Kula community in Rivers State, following an alleged collision involving a community boat and a Nigerian Army gunboat.
The incident reportedly occurred on Tuesday morning when members of the community took to the water in a boat to protest against the oil company’s vessel.
A community leader, Chief Anabs Sara-Igbe, disclosed this in a telephone interview with journalists in Port Harcourt.
Sara-Igbe, a former spokesman of the Pan Niger Delta Forum (PANDEF), alleged that a gunboat belonging to the Nigerian Army hit the protesters’ boat, causing some of its occupants to drown.
READ ALSO: Renaissance, Sterling Bank Back Indigenous Oil and Gas Contractors Financially
He said efforts were ongoing to recover the remains of those who drowned during the incident.
The circumstances that led to the protest, the identities of the victims and the precise sequence of events surrounding the alleged collision were not immediately clear.
The Nigerian Army’s response to the allegation was also not immediately available as of the time of filing this report.
NEWS
FRSC Warns Drivers After Brake Failure Kills Two in Kano Crash
The Federal Road Safety Corps (FRSC), Kano Sector Command, has confirmed the death of two persons in a road crash involving a fully loaded tipper truck and a Mercedes-Benz car along the Kano-Zaria Road at Dangi Underpass.
The fatal crash occurred on Tuesday, October 20, 2026, and involved a Howo tipper truck with registration number RMG 332 XA, loaded with bitumen, and a Mercedes-Benz C180 with registration number ABJ 783 GB.
According to a statement signed by the FRSC Kano Sector Public Education Officer, Abdullahi Labaran, four male adults were involved in the crash, with two confirmed dead.
SEE ALSO: DPRP’s Free Fuel Delivery Expands to Kano, Imo, Nearly 10 More States
Preliminary reports indicated that the crash was caused by brake failure in the loaded tipper truck, resulting in the driver losing control of the vehicle.
The truck reportedly slid backwards and collided with the Mercedes-Benz behind it, leading to the fatal incident.
FRSC rescue personnel and other emergency responders evacuated the victims to Aminu Kano Teaching Hospital for medical attention.
Reacting to the incident, the Kano Sector Commander, Corps Commander Idris Mohammed Lawal, expressed condolences to the families of the deceased and prayed for the repose of their souls.
Lawal also urged the affected families to find the strength to bear the loss.
The Sector Commander warned motorists, transport unions, construction companies and fleet operators against neglecting regular vehicle maintenance, particularly the inspection and servicing of critical components such as braking systems and tyres.
He emphasised the importance of defensive driving, urging motorists to maintain safe following distances, remain alert to changing road conditions and ensure their vehicles are roadworthy before embarking on journeys.
Lawal stressed that regular vehicle maintenance, responsible driving and strict compliance with road safety regulations remain essential to preventing avoidable road crashes and saving lives.





