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We’re Selling Petrol At Half The Landing Cost, Which Is Not Subsidy – NNPC

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The Nigerian National Petroleum Company (NNPC) Ltd has addressed concerns regarding the pricing of petrol, stating that it is currently selling Premium Motor Spirit (PMS) at only half of its actual landing cost.

Umar Ajiya, NNPC’s Chief Financial Officer (CFO), clarified on Monday in an interview with the News Agency of Nigeria (NAN) that the company has been covering what he termed a “shortfall” rather than providing a subsidy.

According to Ajiya, while the official pump price remains at approximately N600 per litre, the landing cost is around N1,200 per litre.

Related News: Tinubu Approves NNPC’s Plan To Spend Federation Dividends On Petrol Subsidy

Ajiya further disclosed that it cost the NNPC a staggering N7.8 trillion to cover this price gap in the first seven months of 2024.

This revelation has reignited discussions on whether the NNPC is indirectly offering subsidies, a concept typically defined as selling a product below its cost price.

Documents reviewed showed that the term “subsidy” was used extensively in official correspondence between the NNPC and the presidency, particularly in reference to the “shortfall.”

Recall that President Bola Tinubu reportedly approved NNPC’s request to utilize the 2023 final dividends due to the federation to offset these costs.

However, during a media briefing on Monday about the company’s 2023 audited financial statements, Ajiya refuted claims that the NNPC is involved in any subsidy scheme.

He stated that the company is merely managing the price difference in petrol imports on behalf of the federation, stressing that this should not be misconstrued as a return to subsidy payments.

Ajiya further disclosed that the Nigerian government owes the NNPC N7.8 trillion ($4.9 billion) in subsidy-related debts for the period from January to July 2024.

However, in his clarification to the News Agency of Nigeria (NAN), Ajiya insisted that no subsidy payments have been made to any marketer in the last nine years, citing the NNPC’s role as the sole importer of petrol under supply contracts.

He said, “In the last eight to nine years, NNPC Ltd. has not paid anyone a dime as a subsidy; no kobo has been disbursed by NNPC Ltd. in the name of subsidy. No marketer has received any payment from us for subsidy.”

“What has been happening is that we have been importing PMS, which has been landing at a specific cost price, and the government tells us to sell it at half price. So the difference between the landing price and that half price is a shortfall.

“And the deal is between the Federation and NNPC Ltd., to reconcile, sometimes they give us money, so there is no money exchanging hands with any marketer in the name of subsidy.”

Ajiya remained silent on how much of the $4.9 billion could have been remitted to the federation account if the NNPC had not been covering the “shortfall.”

Speculation suggests that the All Progressives Congress (APC) government is keen to avoid using the term “subsidy” due to its association with the so-called “subsidy scam” – a key issue the party used to oust the Peoples Democratic Party (PDP) from power in 2015.

 

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‘We’ll Be Watching Nigeria’s 2027 Elections Very Closely’ – US Congressman

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The United States has said it will closely monitor Nigeria’s 2027 general elections, with US Congressman Riley Moore stating that President Donald Trump’s administration will be paying “very close attention” to how the country’s next polls are conducted.

Moore, a Republican representing West Virginia, made the remarks during an interview with NoireTV while responding to questions about Nigeria’s upcoming general elections.

According to him, Washington is committed to observing both the outcome and the conduct of the elections to ensure they are credible and transparent.

SEE MORE: Atiku Appoints Kenneth Okonkwo as 2027 Campaign Spokesperson

“We’re certainly going to be watching these results and how these elections unfold and how they’re executed. And that’s something that myself and the administration are going to be paying very close attention to,” Moore said.

The congressman also disclosed that the US House of Representatives is considering an appropriations bill containing provisions relating to Nigeria, particularly on religious freedom and US security assistance.

“We’re working on Chris (Smith)’s bill, which obviously I’m a co-sponsor of that bill. But I’d say, more importantly, what people need to pay attention to is the appropriations bill that we’re going to have on the floor today,” he stated.

Moore explained that the proposed legislation contains what he described as “pretty strong and aggressive language” regarding Nigeria’s relationship with the United States.

“There’s a lot of language that I put on that bill that relates to Nigeria, the persecution of Christians and restrictions on security assistance to the government of Nigeria, and steps that they have to take,” he said.

He added that the bill is expected to become law and would have a binding impact on future US-Nigeria relations.

“That bill’s likely to become law. We’re about to, hopefully, pass that here today. And so there’s some pretty strong and aggressive language in that bill that’s going to be binding as it relates to our relationship to Nigeria moving forward,” Moore added.

The lawmaker further revealed that he would continue engaging President Donald Trump’s administration on issues concerning Nigeria, disclosing that he was scheduled to meet the US president during a dinner engagement.

“I continue to work with the administration on next steps that we’re going to take. I’m actually going to see President Trump tonight. I’ll be having dinner with him and some other members, so yeah, I continue to talk to him about these issues, and it’s very important to him,” he said.

Moore is a co-sponsor of the Nigeria Religious Freedom and Accountability Act of 2026, introduced alongside Congressman Chris Smith in February.

The proposed legislation seeks to require the US Secretary of State to submit periodic reports to Congress on efforts to address religious persecution and mass atrocities in Nigeria.

The bill also proposes regular assessments of Nigeria’s compliance with international religious freedom obligations, US security assistance, sanctions, humanitarian support, and measures taken by the Nigerian government to protect vulnerable communities and prosecute those responsible for attacks.

Earlier in April 2026, the US House Appropriations Committee approved provisions in its annual State Department funding bill imposing stricter oversight and conditions on financial assistance to Nigeria.

The proposal recommends withholding 50 percent of US foreign assistance allocated to Nigeria until it is certified that the Nigerian government is taking effective steps to curb religious violence.

It also requires that the funds support investigations and prosecutions of violence committed by Fulani militia groups and that the government facilitates the safe return of displaced persons.

If passed into law, the legislation is expected to shape future diplomatic relations, security cooperation and financial assistance between the United States and Nigeria.

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‘Act Now as UN Warns of Escalating Food Crisis in the North’ – Obi to FG

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Former Anambra State Governor and 2027 presidential candidate of the National Democratic Congress (NDC), Peter Obi, has expressed concern over a recent United Nations warning of a worsening food crisis in Northern Nigeria, urging the Federal Government and state governments to take immediate steps to prevent the situation from deteriorating further.

Obi made the call on Saturday in a post shared on his X account, describing the development as disturbing, especially because Northern Nigeria has traditionally been regarded as the country’s food-producing region.

The former governor stressed the need for more effective policy implementation to address the growing humanitarian challenge, urging governments at all levels to make proactive investments in securing agricultural corridors and supporting smallholder farmers with accessible resources to improve food production.

SEE ALSO: No Joy on Children’s Day as Students Languish in Captivity — Peter Obi

He also called on authorities to work closely with the United Nations World Food Programme (WFP) and other development partners to bridge existing funding gaps before the crisis worsens.

According to Obi, the WFP’s latest assessment revealed that more than 17 million people across nine northern states are currently facing crisis-level hunger, while over 35 million Nigerians could be at risk during the ongoing lean season.

He further cited reports indicating that more than 10,000 residents of Borno State have entered what humanitarian agencies describe as “catastrophic hunger conditions.”

“Insecurity, including banditry and insurgency, has prevented many farmers from accessing their farmlands and remains a major obstacle to agricultural production,” Obi said.

The former presidential candidate called for improved security across farming communities and increased investment in rural infrastructure and agricultural productivity to restore food production.

He also urged policymakers to prioritise production-driven economic policies aimed at expanding cultivated land and boosting agro-industrial output.

According to Obi, Nigeria has the resources and agricultural potential to significantly reduce hunger and poverty if the appropriate measures are implemented.

He maintained that a Nigeria free from widespread hunger and mass poverty remains achievable if leaders place the welfare and livelihoods of citizens at the centre of national decision-making.

The statement follows a recent United Nations warning that worsening hunger in Northern Nigeria is being fuelled by insecurity, which continues to prevent farmers from accessing their farmlands and has created conditions that armed groups exploit to recruit vulnerable people.

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Tinubu’s Adviser Masari Bags International Leadership Award, Receives US Congressional Commendation

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President Bola Tinubu’s Special Adviser on Political and Other Matters, Alhaji Ibrahim Kabiru Masari, has received international recognition for his contributions to public service, leadership and good governance after emerging as one of the recipients at the 16th African Business Leadership Awards (ABLA) held in London, United Kingdom.

Masari was honoured for his exemplary leadership, distinguished public service and sustained contributions to governance and sustainable development during the prestigious event organised by the African Leadership Organisation under the auspices of the African Leadership Magazine.

SEE ALSO: ‘Tinubu’s Gov’t is Held Hostage by Fraudsters’ – Atiku Declares

The annual summit attracted African presidents, governors, ministers, policymakers, business executives, development partners and academics to celebrate outstanding leadership while promoting dialogue on Africa’s economic transformation, innovation, investment and sustainable development.

In addition to the ABLA honour, Masari also received a Special Congressional Commendation from the South Carolina House of Representatives in the United States in recognition of his contributions to public service and leadership.

Organisers said the dual honours reflect growing international recognition of Masari’s commitment to good governance, accountability and nation-building.

As Special Adviser to President Tinubu on Political and Other Matters, Masari has been instrumental in providing strategic political counsel, fostering dialogue among stakeholders and supporting initiatives aimed at strengthening national cohesion and Nigeria’s democratic process.

Reacting to the recognition, Engr. Abdullahi Garba Ramat, PhD, described the awards as a fitting tribute to Masari’s years of dedicated service, integrity and commitment to national development.

Ramat said Masari’s leadership style, characterised by humility, accessibility and commitment to public service, has earned him widespread respect across political, ethnic and social divides.

According to him, the presidential adviser has remained steadfast in supporting President Tinubu’s administration through strategic engagement, loyalty and dedication to advancing the government’s policies and programmes.

He also commended Masari for his humanitarian interventions, support for education, youth mentorship and community development, noting that his philanthropic efforts have positively impacted many lives across Nigeria.

“His recognition is not just an award but a validation of a lifetime devoted to integrity, patriotism, compassion and selfless service to humanity,” Ramat said.

Other prominent African leaders honoured at the ceremony included Yobe State Governor Mai Mala Buni, Imo State Governor Hope Uzodimma, Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Mojisola Christianah Adeyeye, Governor of the Bank of Sierra Leone Henry Falla Saamoi, and President of the ECOWAS Bank for Investment and Development (EBID), Dr. George Agyekum Donkor.

The event was attended by several notable personalities, including former Tanzanian President Jakaya Mrisho Kikwete and the Executive Secretary of the Petroleum Technology Development Fund (PTDF), Prof. Shehu Aliyu, alongside other African leaders and development experts.

Congratulating Masari on the honours, Ramat expressed confidence that the international recognition would further inspire him to continue serving Nigeria with dedication while promoting unity, peace and national development.

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