NEWS
Unstable Petrol Prices Could Force Marketers Out Of Business – PETROAN
Oil marketers in Nigeria are raising concerns over the instability of petrol prices, warning that the constant fluctuations are threatening the survival of their businesses.
Speaking on Channels Television’s Business Morning on Tuesday, the President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gilly-Harris, lamented the losses being incurred by retailers due to unpredictable price movements.
He highlighted the ongoing price competition between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) as a major factor affecting the market. Dangote Refinery recently reduced its ex-depot price by N65, bringing pump prices at its affiliated stations down to N860 per litre from N925-N930.
READ ALSO: BREAKING: Kyari Rubishes Fuel Quality Talks As Mere Drama, Bad Marketing Antics
In response, NNPCL also slashed its prices, intensifying competition and further disrupting pricing stability.
Gilly-Harris expressed frustration over the impact of these sudden changes on retailers, noting that businesses are struggling to remain profitable.
“In our consistently weekly reviews, we discovered that the size of loss, and the possibility of most of us getting out of business is glaring at us in the face,” he said.
“We buy products at a price today, and before the close of business, the price has reduced. We thought there should be a mechanism by which prices are analyzed to ensure it doesn’t impact negatively on the industry.”
He explained that while global crude oil prices have seen some reductions, the erratic adjustments in local petrol prices make it difficult for marketers to recover their costs.
“We are fully aware that the international prices of crude oil and other related expenses are also being reduced. But when we invest to buy products at, say, N880 per litre, and the price suddenly drops to N840, N850, N860, or even N870 per litre, it becomes challenging for us to recover our costs,” he stated.
Beyond the price fluctuations, Gilly-Harris also raised concerns about the lack of consultation with industry stakeholders before major pricing decisions are made.
According to him, PETROAN members have the capacity to either import petrol or buy from local refineries, but without a stable pricing structure, it becomes increasingly difficult to operate.
“We have the capacity to import our products. We also have the capacity to buy locally refined products. But we see that prices consistently shift up or down, and there is no clear business consultation on how this should be done,” he said.
He called on regulatory agencies, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Consumer Protection Agency, to take urgent steps to address the instability.
NEWS
Shettima, Wife Depart Abuja for Jos as Tinubu–Shettima Campaign Takes Rally to Plateau
Vice President Kashim Shettima has departed Abuja for Jos, Plateau State, alongside his wife, Hajiya Nana Shettima, ahead of the All Progressives Congress (APC) presidential campaign rally in the state.
The visit is part of the Tinubu–Shettima campaign’s engagements as the ruling party seeks to secure support for President Bola Ahmed Tinubu and Vice President Shettima ahead of the 2027 general elections.
The campaign’s visit to Plateau is expected to highlight the Federal Government’s infrastructure and economic development projects in the state, particularly those aimed at improving road connectivity, boosting commerce and supporting agricultural activities.
SEE ALSO: Tinubu, Shettima Head to Jos for APC Presidential Campaign Rally
Among the projects highlighted by the administration is the ongoing 125-kilometre Akwanga–Jos highway, which forms part of the Akwanga–Bauchi–Gombe–Maiduguri Superhighway.
Other projects include the rehabilitation of the Sharram–Garram–Babban Lamba Road in Kanke and the approved Mararaban Jama’a–Kanke–Langtang–Shendam–Ibi Road, which is expected to improve connectivity between Plateau and Taraba states.
The administration says the projects are part of its broader development agenda to connect communities, facilitate access to markets and provide farmers and businesses with improved infrastructure.
The APC campaign is expected to use the rally to present the administration’s achievements and future plans while seeking the confidence of Plateau residents to continue its development agenda beyond 2027.
NEWS
Ogun Police Disburse ₦10.6m to Families of Fallen Officers Under IGP Welfare Scheme
The Ogun State Police Command has presented cheques totalling ₦10.65 million to families and next-of-kin of deceased police officers who served under the command, as part of efforts to support dependants of personnel who died in active service.
The cheques, amounting to ₦10,658,391.36, were presented on Saturday, November 14, 2026, by the Commissioner of Police, CP Bode Ojajuni, on behalf of the Inspector-General of Police, IGP Olatunji Rilwan Disu.
The statement was signed by the Police Public Relations Officer of the Ogun State Command, DSP Oluseyi B. Babaseyi, anipr, and dated November 14, 2026.
ALSO READ: How Ogun Driver Allegedly Stole Boss’s ₦45m Lexus and Plotted to Sell It for ₦10m in Cotonou
The presentation took place at the Command Headquarters in Eleweran, Abeokuta, under the Nigeria Police Force Group Life Assurance and the IGP Family Welfare Schemes.
The initiatives are designed to provide financial assistance to families of police officers who lost their lives while serving the country.
Accompanied by members of the Command Management Team, Ojajuni personally handed over the cheques to the beneficiaries.
Addressing the recipients, the police commissioner reaffirmed the Inspector-General’s commitment to the welfare of police personnel and their families.
He described the widows and families of the deceased officers as the “true superheroes”, acknowledging their resilience in coping with the loss of their loved ones who died in service to the nation.
Ojajuni noted that the financial intervention was a demonstration of the Force’s appreciation and institutional responsibility to support the families of fallen officers.
He said the initiative represented the Nigeria Police Force’s enduring commitment to standing by the dependants of personnel who paid the ultimate price in active service.
Responding on behalf of the beneficiaries, Mrs Ejembi Ada Veronica thanked the Inspector-General of Police and the Ogun State Police Command for remembering their families and providing financial assistance.
She assured the authorities that the money would be channelled towards the education, upkeep and general welfare of the children and dependants left behind by the deceased officers.
According to her, the intervention would provide timely relief and help improve the stability of the affected families.
The Ogun State Police Command reiterated its commitment to supporting the families of fallen officers, assuring them of its continued solidarity.
NEWS
NUPRC Screens 28 Wells Over Rivers Gas Seepage, Identifies Three as High-Risk
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has screened 28 oil and gas wells around reported gas seepage locations in Bille Community, Degema Local Government Area of Rivers State, identifying three as high-risk, as investigations continue to establish the source of the bubbling gas.
The Commission disclosed that its investigation team physically visited 14 of the 28 wells screened but could not access three others because they were submerged. During the visits, the team observed gas hissing from some wells, while some facilities were found to be corroded and others vandalised.
ALSO READ: Rig Count Hits 100, as NUPRC Approves 740 Drilling Jobs
The update was made on Thursday during a special technical paper presentation at the 44th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE).
The paper, titled “Unravelling Gas Seepage and Bubbling in Nigeria: The Integrated Study Approach Towards Source Attribution,” was hosted by the NUPRC.
In his presentation, the Director of Subsurface Development at the NUPRC, Engr. Joseph Ogunsola, FNSE, described gas seepage as a new phenomenon in the Nigerian petroleum industry, prompting the Commission to constitute a team to investigate what lies beneath the bubbles.
Ogunsola was represented by the Senior Manager, Onshore Frontier Development Drilling, Mr. Azibamikiomam John-Adumo, a geologist.
He disclosed that studies conducted in one of the affected areas had helped unravel the structural threat associated with the phenomenon.
According to him, one of the wells was originally drilled in search of oil but was shut down following the discovery of gas instead.
He explained that the well is approximately 2.5 kilometres from the seepage location, adding that investigations are ongoing to establish whether the seepage originates from that particular well or other nearby wells.
He further disclosed that the distance between the seepage location and other wells ranges from 2.5 to three kilometres, noting that the area is highly explored and hydrocarbon-charged, as demonstrated by the number of wells in the vicinity.
Providing an update on the wells workstream, which falls under the facility and infrastructure component of the investigation, John-Adumo said the 28 wells were screened based on their proximity to the seepage locations and the reservoirs traversed during drilling.
He also explained that the investigation had progressed from the first reported bubble to an independent fingerprinting campaign within 12 months.
Recalling that the first seepage was observed in October 2025, he said the results of the independent investigation, using Gas Chromatography-Isotope Ratio Mass Spectrometry (GC-IRMS) and compositional field analysis, were expected in the fourth quarter of 2026.
While investigations continue, John-Adumo said the Commission and operators had mobilised relief materials and other support for affected communities.
The interventions include food supplies, medical outreach, efforts to provide potable water, fire vans and safety kits, among other assistance.
He, however, warned that if the seepage is established to be a natural geological phenomenon, residents may need to be evacuated because tracing the migration pathways and designing subsurface interventions could be much more challenging.
He reiterated the Commission’s commitment to a speedy, coordinated and integrated investigation to establish the source of the gas seepage.






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