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Sun. Dec 22nd, 2024
Trending News: WE’RE NOT OFFERING N25,000 CHRISTMAS GIFT – ABIA GOVT20 FEARED DEAD IN ANAMBRA COMMUNITY AS RICE DISTRIBUTION CAUSES STAMPEDEPETER OBI OFFERS TO MEET DELE FAROTIMI’S BAIL CONDITIONSWE’VE ACHIEVED 80% SUCCESS AGAINST KIDNAPPING – RIBADUTHERE’RE HONEST POLICE OFFICERS IN NIGERIAPH REFINERY SHUTS DOWN AGAIN AFTER $1.5BN REHABILITATIONNIGERIA’S MOBILE SUBSCRIPTIONS HIT 157.3 MILLION IN OCTOBER, MTN AIRTEL GAINJUBILATION AS FORMER KOGI GOV, YAHAYA BELLO, ACCUSED OF STEALING N110.4BN GOVT MONEY IS RELEASED ON BAILEKITI MAGISTRATE COURT CLAIMED RULING ON DELE FAROTIMI’S BAIL APPLICATION MISSINGSOARING COSTS, SHRINKING INCOME DAMPEN YULETIDE CELEBRATIONSWE BUDGETED N213BN FOR ROAD NOT N55BN – ENUGU GOVTHOW TINUBU’S N1B OFFER TO NASS MEMBERS AVERTED TAX REFORM BILLS SHOWDOWN DURING BUDGET PRESENTATIONNORTH IMPOVERISHED BY ITS POLITICAL LEADERS FOR OVER 40 YEARS – DOGARACOURT RESTORES SUSPENDED EDO LG CHAIRMENAPPEAL COURT FINES MTN N15 MILLION OVER UNSOLICITED MESSAGESCUSTOMS HAS NO RIGHT TO CONFISCATE FOREIGN RICE IN OPEN MARKET – COURT OF APPEALAT LAST, DELE FAROTIMI IS GRANTED BAILTINUBU REDEPLOYS 11 PERMANENT SECRETARIESHOW NIGERIAN SOLDIERS INVADED, DESTROYED MY RESIDENCE AT 2.30 AM, UCHE ANYA, ENUGU AGENCY BOSSENUGU GOVT MAPS OUT N146BN FOR EQUIPPING ITS SMART SCHOOLS IN 2025MARKETERS EXPECT CHEAPER PETROL AS DANGOTE CUTS PRICE TO N899.50/LITREDSS DIDN’T INVITE STATISTICIAN-GENERAL – NBSFG PLANS TO SLASH INFLATION FROM 34% TO 15% IN 2025KEMI BADENOCH AND THE NIGERIAN POLICEREVOKED ABUJA LAND DOESN’T BELONG TO ME – BUHARIGOVERNORS LACK POWER TO REMOVE LG CHAIRMEN – FGPEOPLE CURSE ME, MY FAMILY OVER TAX REFORM BILLS – OYEDELETAX REFORM BILLS DIVIDE FEDERAL LAWMAKERSNORTH-WEST HIGHEST IN CRIME INCIDENTS, SOUTH-EAST LOWESTABUJA DEMOLITION, SOLDIERS ATTACK WIKE’S MEN CART AWAY VEHICLEWE’RE INVESTIGATING IBADAN CARNIVAL STAMPEDE WHERE 32 CHILDREN DIED – POLICEPOLICE DETAIN PRINCIPAL OVER IBADAN CHILDREN CARNIVALS STAMPEDEINVESTIGATION SHOWS SEVEN REASONS BVAS MAY NOT WORK IN NIGERIADANGOTE REDUCES PETROL PRICE TO N899 PER LITREWIKE REVOKES PLOTS BELONGING TO BUHARI, ONNOGHEN, ABBAS, AKUME, OTHERSNO TO RENAMING OF UNIABUJA AFTER GOWON – ABUJA INDIGENOUS STUDENTSWHO RAISES CONCERN OVER RISING DIABETES IN NIGERIAKEMI BADENOCH WAS RIGHT, NIGERIAN POLICE STOLE MY PHONE IN 2019, BY ELIAS OZIKPUFG TO LAUNCH CONTACTLESS PASSPORT APPLICATION IN FOUR STATES NEXT MONTH – TUNJITINUBU RECONSTITUTES 12 RIVER BASINS, NAMES 72 APPOINTEESBUHARI, FRIEND OF THE POOR, DIDN’T REMOVE FUEL SUBSIDY – FEMI ADESINATINUBU WILL USE ARTIFICIAL INTELLIGENCE TO FIGHT TERRORISTS IN 2025 – SENATOR JIMOH IBRAHIMDANGOTE REFINERY, NNPCL RESUME FIGHT OVER $1B DOLLAR LOANNIGERIA’S NATIONAL BUREAU OF STATISTICS WEBSITE HACKEDOVER HALF OF NIGERIANS WANT TO LEAVE THE COUNTYYOU’RE ALL REELECTED, BUHARI TELLS LAWMAKERS, AFTER ADDRESSING THEM AS 11TH ASSEMBLYMANY CHILDREN FEARED DEAD IN IBADAN CARNIVAL STAMPEDETINUBU PRESENTS N47.96TRN 2025 BUDGET TO NATIONAL ASSEMBLYFORM ALLIANCE AGAINST TINUBU – LUKMAN TELLS OBJ, IBB, GEJ, BUHARI, GOWONDRAMA AS LAWMAKERS STOP RENDITION OF TINUBU’S ANTHEM DURING BUDGET PRESENTATIONFG APPROVES N30BN MECHANISED FARMING FOR 30 AGRIC UNIVERSITIESMTN PAYS N200BN MONTHLY IN VAT – TAX COMMITTEEWHY NNAMDI KANU’S RELEASE MAY NOT END INSECURITY IN SOUTH EAST – SOLUDOBIZZARE! WOMAN WHO SLEPT WITH 100 MEN IN A DAY EYES WORLD RECORDFOOD PRICES RISE TO 60.88% UNDER TINUBU614,937 NIGERIANS KILLED, 2.2M ABDUCTED IN ONE YEAR – NBSHOW I KILLED 76 WOMEN FOR FORTIFICATION – MYSTERIOUS IBADAN MANNO SUFFICIENT REASON FOR CONTINUED DETENTION OF NNAMDI KANU – OHANAEZESENATE MOVES TO BAN USE OF DOLLAR, OTHER FOREIGN CURRENCIES IN NIGERIAIGP BANS POLICE FORM PHONE CHECKS, ARBITRARY ARRESTSDESPITE LOCAL REFINERIES, NIGERIA SPENDS N9.1 TRILLION ON PETROLEUM IMPORTATIONNIGERIANS PAID N2.23 TRILLION RANSOM TO KIDNAPPERS IN 12 MONTHS – NBSCBN SET DAILY WITHDRAWAL LIMIT MONEY ON POS TO N100K PER CUSTOMEREDO ASSEMBLY SUSPENDS LG CHAIRMEN OVER GOVERNOR’S PETITIONLAGOS GOVT SEALS THE LORD’S CHOSEN, CELESTIAL CHURCH, HOTELS OVER NOISE POLLUTIONUNIZIK LECTURER, DR CHINEDU, SHOT DEAD BY CAR-SNATCHING SYNDICATENYSC MEMBER SLUMPS, DIES AT KEBBI ORIENTATION CAMPUNIABUJA, UNILAG, FUTA, OTHER RENAMED UNIVERSITIES THAT GENERATED CONTROVERSYNIGERIA LEADS WORLDWIDE IN CRYPTO OWNERSHIPRESIDENT NON-INDIGENES DECLARE 15 ANAMBRA LGAS INSECURENNPCL SUPPORTED DANGOTE REFINERY ESTABLISHMENT WITH $1 BILLION LOAN – OFFICIALEFCC ARRESTS 193 FOREIGNERS, 599 SUSPECTED NIGERIAN CRYPTO FRAUDSTERSCONFUSION AT CCT AS TWO MEN PARADE SELVES AS TRIBUNAL CHAIRMANBENIN REPUBLIC ELECTORAL COMMISSION IN NIGERIA TO UNDERSTUDY INECTOUGH FESTIVE SEASON AWAITS NIGERIANS AMID UNTAMED INFLATION SPIKETINUBU ASKS NIGERIAN MEDIA TO SUPPORT TAX REFORMS, LISTS BENEFITSENUGU SEEKS UNESCO HERITAGE STATUS FOR MILLIKEN HILL, IVA VALLEY, OTHER SITESTINUBU APPOINTS EIGHT NEW PERMANENT SECRETARIES FOR FEDERAL CIVIL SERVICEPURGE YOURSELF OF BAD EGGS, ADVICE TO JUDICIARYENUGU GOVERNOR, PETER MBAH, UNVEILS STATE GEOGRAPHIC INFORMATION SYSTEMFEC APPROVES N47.96 TRILLION BUDGET FOR 2025ADEMOLA LOOKMAN CROWNED 2024 CAF PLAYER OF THE YEARGOVERNORS AWARE OF ROADBLOCKS WE MOUNT – POLICEDEFENCE CHIEF ORDERS INVESTIGATION INTO DEATH OF OKUAMA LEADERS IN MILITARY CUSTODYNORTH GROSSLY UNDERDEVELOPED -SANUSIBUHARI WAS USED, DUMPED, MADE STRANGER IN HIS GOVT – EX-MINISTER DALUNGTINUBU’S POLICIES, PATHWAY TO POVERTY – GOVNIGERIA’S INFLATION RATE SPIKES TO 34.60 PERCENT IN NOVEMBER AMID HARDSHIPSUPREME COURT IMPOSES N5M ON EX-PRESIDENT CANDIDATE FOR HARASSING TINUBU WITH FRIVOLOUS SUITSEX-GOVERNOR BONI HARUNA DENIES BRIBERY ALLEGATION OF 2004 ADAMAWA GUBER ELECTION PETITIONWIKE’S AIDE CARPETS WOMAN OVER ABUJA LAND, SAYS SHE WANTS TO INHERIT LAND THAT DIDN’T BELONG TO HER HUSBANDFG OVERSHOOTS 2024 BORROWING TARGET BY N4 TRILLIONDELE FAROTIMI DID NOT SEND ME TO PETER OBI TO BEG AFE BABALOLA – LAWYERTHIRTY-TWO STATE GOVERNORS PROPOSE N21.9TRN BUDGET FOR 2025GALE OF DEFLECTIONS: LABOUR PARTY SUFFERS HUGE SET BACK AHEAD OF 2027COUNCIL CHAIRMEN ALLEGEDLY HALT CONSTRUCTION OF FG’S N40B METHANOL PLANT PROJECT IN ENUGUECOWAS APPROVES EXIT OF NIGER, MALI, BURKINA FASOKEMI BADENOCH: LIKE DAUGHTER, LIKE FATHERX-RAYING PETER MBAH’S TOWN HALL MEETING, BY DONS EZENIGERIA CLEARS N85BN, $54M ECOWAS LEVY AFTER 19 YEARS
Sun. Dec 22nd, 2024

DANGOTE REFINERY WILL NOT SELL FUEL BELOW MARKET PRICE – PRESIDENCY

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DANGOTE REFINERY WILL NOT SELL FUEL BELOW MARKET PRICE — PRESIDENCY

The Nigerian Presidency has said that Dangote Refinery will not sell its product including Premium Motor Spirit (PMS) below the official market price.

On Tuesday, Aliko Dangote, the Chairman of the Dangote Group, formally declared the commencement of petroleum production at his highly anticipated refinery. This significant milestone marks a major breakthrough in Nigeria’s energy landscape.

During the announcement, Mr. Dangote revealed that the pricing strategy for the refined petroleum products would be determined through collaborative efforts between the Federal Executive Council (FEC) and the Nigerian National Petroleum Company (NNPC) Limited.

This decision underscores the government’s regulatory oversight and the NNPC’s industry expertise.

In a related development,, filling stations owned and operated by the Nigerian National Petroleum Company (NNPC) Limited across Nigeria had implemented a substantial increase in fuel prices, with prices soaring to over N850 per litre.

Further investigation revealed that this price hike was actually in compliance with a directive issued by the NNPC management, mandating an immediate adjustment of the official fuel price from N568 to N855 per litre.

This directive has far-reaching implications for consumers and the national economy.

However, a report published by Bloomberg on Thursday revealed that the Nigerian Government would allow Dangote Refinery to fix its price.

“Nigeria will allow Dangote to set the price of gasoline to petroleum marketers starting next month,” top government sources were quoted by Bloomberg.

“Going forward, petrol marketers will be allowed to buy products directly from the Dangote Refinery,” the sources added.

Commenting, the senior special assistant (SSA) to President Bola Tinubu on Media and Publicity, Temitope Ajayi also said, “Dangote Refinery will certainly not sell their products below market value as a business that was set up to make a profit.

“I don’t see how NNPC or the federal government will control the price for a private business.”

“The role of the petroleum industry regulator will be to ensure products quality and fair pricing so that the business doesn’t take undue advantage of the citizens or rip them off,” he added.

    • Dons Eze

    DONS EZE, PhD, Political Philosopher and Journalist of over four decades standing, worked in several newspaper houses across the country, and rose to the positions of Editor and General Manager. A UNESCO Fellow in Journalism, Dr. Dons Eze, a prolific writer and author of many books, attended several courses on Journalism and Communication in both Nigeria and overseas, including a Postgraduate Course on Journalism at Warsaw, Poland; Strategic Communication and Practical Communication Approach at RIPA International, London, the United Kingdom, among others.

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