NEWS
Without subsidy Nigerians would have been paying N900 per litre of PMS, says IPMAN
From John Danjuma
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has commended President Muhammadu Buhari for sustaining the subsidy on Premium Motor Spirit without which Nigerians would have been paying N850 to N900 per liter by now.
The National President Elder Chinedu Okoronkwo at a press conference in Abuja debunked the insinuation that its members were engaged in the sabotage of the effort by the Federal Government to subsidize the product with N4trillion.
“You are talking about sabotage I think that If there is anyone selling fuel on the road it is not IPMAN that you will take home today
“Let me tell you while we are still moving to check the cost if AGO that is not regulated how much are we picking it now? N850 to N900, that would have been the cost of PMS, and who enjoys this subsidy it is the man with his cars
“The only thing members of this association get is N10 we have been there fixated. For over N20 years each time they will be raising this product our margin has not been N10 that is why a lot of our people are not in business so if you are talking of sabotage is it from where.
“We are the worse beaten with huge investment and low return. We should be the ones to complain.
He asked Nigerians to stop panic buying the Premium Motor Spirit (PMS) as they will continue to sell the products at the government-approved price of N165 per liter.
“I told you the cost of doing business has changed and my members in Lagos before they did what they did, called me and told me that they are now getting this product at N162 to N165 per lite with transportation another N8, aggregating to about N170 to N173, even the N10 which supposed to be our own has been eroded, what do we do?
Read Also >> IPMAN Backtracks, Says Members Will Sell PMS At N165 Per Litre
“Now you know and I know that it is only NNPC that imports this product into Nigeria. Some of these tank farm owners who have gone to collect this product don’t blame them because the cost of doing business has also changed.
“It became so difficult for them to sell at N148.17 but yesterday I want to tell you that NNPC and PPMC went to their tank farms and released products.
“That is why we are thanking them that with this product we can now access the product at N148.17 Status quo ante must be maintained moving forward and from what they have told us they have products that can last us up to 32days.
“We must be happy with that knowing full well the challenges we have globally on Energy that is why we are thanking them.”
He said massive loading if the product is ongoing in Lagos adding that in a matter of days the long queues will fizzle out.
He thanked President Muhammadu Buhari for making available an N4trillion budgetary provision for subsidy, especially with the current global energy problems caused by the ongoing Russian-Ukrainian war.
He said they have engaged a consultant who will go into the books to determine exactly what the Association of Distributors and Transporters Of Petroleum Products (ADITOP) are being owed in terms of bridging claims.
According to Elder Okoronkwo, to mitigate against persistent losses there is collection of N5000 product liability Insurance by the Down Stream Regulatory Authority on behalf of IPMAN
He pleaded in a special way with the Downstream Regulatory Authority to make payments regarding Marketers’ product differentials and Bridging claims to enable their members to continue to be in business as some have been owed such claims for upward of 6 months.
He called on all members to submit their claims and all documentation to the consultant, the Benham Group to review and reconcile the bridging claims
He expressed appreciation for the tremendous support the NNPC, PPMC, and other government agencies who worked hard to stabilize and smoothen the supply of products across the country
NEWS
Gov Uba Sani Hands Over Land Titles to Displaced Residents of Nine Kaduna Communities
Kaduna State Governor Uba Sani has handed over land titles to displaced residents of nine communities in Birnin Yero, Igabi Local Government Area, to enable them to rebuild their homes and regain shelter.
The Kaduna State Ministry of Information and Culture disclosed the development on Sunday, October 18, 2026, describing the exercise as an intervention aimed at helping displaced residents rebuild their homes.
According to the ministry, each beneficiary is being allocated a plot of land to support resettlement and provide shelter for affected residents.
SEE ALSO: Kaduna Moves to Clear 5-Year Promotion Backlog for 24,000 Teachers
“ He is officially handing over land titles, giving each person a plot of land to rebuild their homes and regain shelter,” the ministry’s announcement stated.
The ministry also noted that Governor Sani had continued to support displaced communities across Kaduna State since assuming office.
The latest exercise focuses on nine communities in Igabi Local Government Area, with the allocation of land intended to help affected residents rebuild their homes and regain stability.
The development comes amid previous reports concerning land disputes and displacement affecting communities in Kaduna State.
In September 2026, reports indicated that the Kaduna Geographic Information Service (KADGIS) had resolved more than 5,000 land disputes and restored over 150 property titles.
The agency also reported that alternative plots had been provided to some communities affected by previous demolitions.
NEWS
JUST IN: Presidency Rejects Makinde’s Claim of ₦250bn NLNG Dividends for Each State
The Presidency has rejected Oyo State Governor Seyi Makinde’s claim that the Federal Government is withholding ₦250 billion in Nigeria LNG Limited (NLNG) dividends for each state, describing the allegation as false and inconsistent with the company’s historical dividend payments.
The rebuttal was contained in a statement issued on Sunday by Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy.
Makinde had alleged that the Federal Government would not release the funds until after the 2027 general elections, despite states having identified development projects for which the money was expected.
ALSO READ: “Makinde Never Owed Salary Despite FAAC Changes” — APM Chieftain Adelore
The governor made the claim on Friday at the 2027 Budget Stakeholders’ Consultative Engagement held at Olola Ogunlana Hall, International Conference Centre, University of Ibadan.
“Each state was supposed to get ₦250 billion. We had already identified projects that would expand Oyo State’s economy. But they have now said the money will not be paid until after the election. Is the election more important than the people of Nigeria?” Makinde said.
However, the Presidency disputed the governor’s figures, arguing that the amount he cited would require an exceptionally large dividend payment from NLNG.
“Makinde’s latest claim that the Federal Government is withholding the NLNG dividend windfall is false and should be disregarded,” Onanuga stated.
According to the presidential aide, paying ₦250 billion to each of Nigeria’s 36 states would amount to ₦9 trillion, excluding the Federal Government, the Federal Capital Territory and the 774 local government councils.
He explained that under the Federation Account Allocation Committee (FAAC) revenue-sharing formula, states receive 26.72 per cent of distributable Federation Account revenue.
Onanuga said NLNG would have to pay more than ₦33.68 trillion, equivalent to approximately $25 billion, into the Federation Account in a single declaration for the states’ share alone to reach ₦9 trillion.
“NLNG has never paid $25 billion in dividends to the Federation Account in a single payout,” he said.
The Presidency also stated that NLNG had paid approximately $21.5 billion in dividends to the Federation over the past 25 years, with less than $3 billion realised since Tinubu assumed office.
Onanuga argued that these figures contradicted the allegation that a single dividend payment exceeding the company’s total historical distribution to the Federation was being withheld.
“Therefore, any claim that a single payout exceeds the company’s entire lifetime distribution to the Federation—and is being withheld—defies basic logic and economic reality,” he stated.
The presidential aide further criticised Makinde’s public statements, accusing the governor of making misleading claims since embarking on his presidential ambition ahead of the 2027 elections.
“We expect Governor Makinde to be more measured in his public conduct and utterances,” Onanuga said.
He also recalled Makinde’s previous description of the substantial financial allocations from the Federation Account to states, including Oyo, as “voodoo.”
While acknowledging that Makinde was free under Nigerian law to pursue his presidential ambition, Onanuga urged him to avoid what the Presidency described as false claims and disinformation.
“Under Nigerian law, Governor Makinde is free to pursue his presidential ambition. He should desist from making falsehoods and disinformation the hallmarks of his campaign,” he stated.
The Presidency urged Nigerians to disregard the governor’s allegation, arguing that it could mislead citizens and create unnecessary hostility towards the Federal Government.
“We urge the public to disregard these unfounded claims, which serve only to mislead citizens and stoke needless disaffection against the Federal authorities,” Onanuga added.
NEWS
Sowore Challenges Okonjo-Iweala to Name Those Behind Alleged $2.4bn Subsidy Fraud
The 2027 presidential candidate of the African Action Congress (AAC), Omoyele Sowore, has challenged the Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, to identify the individuals and companies allegedly involved in the $2.4 billion oil subsidy fraud she said she uncovered while serving as Nigeria’s Minister of Finance.
Sowore made the demand in a statement posted on X on Sunday, questioning the evidence supporting the alleged fraud and its reported connection to the kidnapping of Okonjo-Iweala’s mother in 2012.
SEE ALSO: 2027: No New Taxes Under My Gov’t If Elected – Sowore Clarifies
His response followed reports of an interview in which Okonjo-Iweala recounted how her efforts to uncover an alleged $2.4 billion fuel subsidy fraud led to threats against her and the abduction of her mother, Kamene Okonjo.
The initial report, published by Nigerian media outlets on Saturday and Sunday, October 17 and 18, followed Okonjo-Iweala’s account of the incident and her experience fighting corruption while serving in government.
In his response, Sowore questioned the identities of those allegedly responsible for the fraud and the availability of documentary evidence supporting the claims.
“During her two terms at the center of Nigeria’s economic management, who exactly did she discover was responsible for this multibillion-dollar subsidy fraud?” he asked.
He also demanded details of the companies and individuals allegedly implicated, as well as the findings of investigations into the matter.
“Which companies and individuals were implicated? Where are the audit findings, investigation reports and records of prosecution?” Sowore queried.
The AAC presidential candidate also criticised Okonjo-Iweala’s book, Fighting Corruption Is Dangerous, in which she recounted the kidnapping and linked it to her anti-corruption efforts.
Sowore argued that the book did not provide evidence identifying those responsible for the alleged fraud or explaining what happened to the money.
He further questioned the evidence connecting the alleged subsidy fraud investigation to the kidnapping of Okonjo-Iweala’s mother.
According to Sowore, police records, prosecution records and judicial findings concerning the kidnapping pointed to the alleged involvement of palace guards, relatives and domestic workers.
He maintained that the circumstances surrounding the incident should be examined using verifiable evidence, rather than accepting or dismissing competing accounts without proper scrutiny.
Sowore also questioned why, according to his understanding, Okonjo-Iweala had not publicly challenged the police’s account of the kidnapping or demanded a fresh, independent investigation.
He criticised Bloomberg Television journalist Francine Lacqua over her handling of Okonjo-Iweala’s account, arguing that further verification was necessary.
Returning to the central issue, Sowore asked: “Who stole the alleged $2.4 billion?”
He also demanded to know where the audit findings were, which companies and individuals were implicated, what became of the investigations and what evidence established a direct connection between the alleged fraud and the kidnapping.





