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Again, Dangote Refinery Slashes Petrol Price
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The Dangote Petroleum Refinery & Petrochemicals has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), marking its fourth price cut within one month, as the company signaled that Nigerians could expect further price moderation in the coming weeks.
The latest reduction of N50 per litre brings the cumulative decrease in the refinery’s ex-depot price of petrol to over N200 per litre since May 30, 2026, lowering the gantry price to N1,075 per litre.
Over the same period, the refinery has also reduced the ex-depot price of Automotive Gas Oil (AGO), commonly known as diesel, by N300 per litre, while Jet A1 aviation fuel has recorded a cumulative reduction of N520 per litre.
In a statement on Thursday, the refinery said the successive price cuts underscore its commitment to ensuring Nigerians benefit from favourable market developments through fair, responsible, and sustainable pricing of petroleum products.
The company noted that while it remains focused on transferring cost efficiencies to consumers, it is equally committed to maintaining the operational and financial sustainability of domestic refining.
Dangote Refinery explained that its pricing model is not tied directly to daily movements in international crude oil prices, stressing that crude oil is procured weeks or, in some cases, months before refining under commercial contracts linked primarily to monthly average pricing mechanisms rather than prevailing spot market prices.
According to the company, the petroleum products currently being supplied were refined from crude inventories acquired when international crude prices were significantly higher than present levels.
It disclosed that the average landed cost of crude processed by the refinery stood at approximately 124.80 US dollars per barrel in May and 95.25 US dollars per barrel in June, compared with the current international Brent benchmark of about 71.01 US dollars per barrel.
The refinery further clarified that its feedstock is not purchased at the headline Brent price widely reported in the media. Instead, crude is acquired on a Dated Brent basis, with additional market premiums, freight and logistics costs, resulting in actual landed costs that differ materially from benchmark quotations.
Despite these elevated feedstock costs, Dangote Refinery said it deliberately absorbed a substantial portion of the increase instead of transferring the full burden to consumers immediately.
It said the decision is aimed at supporting market stability, easing inflationary pressures, and shielding Nigerians from the sharp volatility witnessed in global energy markets.
“For this reason, prices of petroleum products in Nigeria are still lower than prices in neighbouring countries even after adjusting for taxes,” the company stated.
Dangote Refinery noted that Thursday’s N50 reduction in the ex-depot price of PMS represents the fourth downward adjustment within one month, bringing cumulative reductions to more than N200 per litre.
The company said its pricing decisions are anchored on actual production economics and inventory replacement costs rather than short-term fluctuations in the international oil market.
It expressed optimism that fuel prices would continue to moderate as lower-cost crude cargoes progressively replace higher-cost inventories in its production cycle, provided international market conditions remain favourable.
The refinery also highlighted the stabilising role of domestic refining in Nigeria’s energy sector, saying its production capacity is now sufficient to meet national demand, thereby strengthening energy security, reducing dependence on imported petroleum products, conserving foreign exchange, and providing greater price stability for consumers and businesses.
Reaffirming its long-term commitment, Dangote Petroleum Refinery said its objective remains to supply high-quality, internationally compliant petroleum products at competitive prices while strengthening Nigeria’s energy security, supporting economic growth, and ensuring the long-term sustainability of Africa’s largest refinery.
The company expressed appreciation to Nigerians for their continued confidence and support, pledging to remain committed to building a stable, efficient, and globally competitive downstream petroleum industry that serves the interests of consumers, businesses, and the nation as a whole.
News
NDC Backs Makinde Amid Call for UN Probe into Oyo School Abduction
The Nigeria Democratic Congress (NDC) has thrown its weight behind Oyo State governor, Seyi Makinde’s call for an independent United Nations (UN) investigation into the abduction of students and teachers in Oriire Local Government Area.
The party said an impartial and transparent international investigation would help establish the facts surrounding the incident and boost public confidence in the ongoing efforts to unravel the circumstances of the abduction.
In a statement issued on Tuesday, the NDC National Publicity Secretary, Osa Director, said the party believed a UN-backed inquiry would uncover the truth, ensure accountability and deliver justice to the victims and their families.
According to the party, Governor Makinde’s request for a UN investigation was driven by the need for transparency rather than politics, stressing that all questions surrounding the incident should be addressed through a credible and independent process that Nigerians can trust.
The NDC also urged the Federal Government to support every lawful initiative aimed at uncovering the truth, strengthening public confidence in the country’s security institutions and preventing similar incidents in the future.
It maintained that the safety and security of Nigerian children should never become a subject of political disagreement or speculation, insisting that the lives of students deserve the highest level of accountability.
The party added that an independent investigation would not only clarify the circumstances surrounding the abduction but also reinforce confidence in Nigeria’s security and justice systems.
Governor Makinde had earlier called for a UN-led investigation into the school abduction, saying an independent inquiry would lend credibility to the findings and address public concerns over the incident.
The kidnapping of students and teachers in Oriire has sparked nationwide outrage and renewed calls for stronger security measures in schools and better protection for pupils, students and educational personnel.
News
INEC Denies Granting Nafiu Bala Access to Nomination Portal
The Independent National Electoral Commission (INEC) has dismissed as false claims circulating in the media by a factional leader of the African Democratic Congress (ADC), Nafiu Bala, that he had obtained the commission’s access code and uploaded the party’s candidates for the 2027 general election.
The claim, which has been widely shared on social media, suggested that Bala’s faction had successfully completed the upload of candidates on INEC’s nomination portal.
However, when contacted by Daily Trust, INEC’s Director of Voter Education and Publicity, Mrs Victoria Eta-Messi, described the claim as untrue, insisting that Bala is not recognised by the commission as the national chairman of the ADC.
“It is not true,” she said.
A further check by Daily Trust on INEC’s official political parties portal also contradicted Bala’s claim.
The commission’s portal lists Sen. David Mark as the National Chairman of the ADC and Ogbeni Rauf Aregbesola as the National Secretary, indicating that they remain the party officials recognised by INEC for the purpose of nominations and other statutory dealings.
The development comes amid the protracted leadership crisis within the ADC, with rival factions laying claim to the party’s national leadership ahead of the 2027 general election.
The controversy has intensified following reports by Bala’s faction that it had secured INEC’s access code and uploaded candidates, a claim now firmly denied by the electoral commission.
News
Appeal Court Ruling Not Setback, ADC Assures Members, Supporters
The African Democratic Congress (ADC) has assured its members and supporters nationwide that the recent Court of Appeal judgment on the party’s congresses will not affect its primary elections or the candidates who emerged from the processes.
In a statement issued on Monday by the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC said the judgment only relates to the election of its ward, local government and state executive committees and has no impact on the direct primaries conducted by the party.
“The African Democratic Congress (ADC) notes the judgment delivered by the Court of Appeal in Abuja on Monday in a matter relating to party congresses for the election of ward, local government and state executive committees of the party,” the statement read.
The party stressed that the ruling does not invalidate the emergence of its candidates at any level.
“We wish to assure members of the party and the general public that this judgment has no effect whatsoever on the direct primaries through which the party’s candidates have emerged at all levels,” it said.
The ADC also disclosed that it had begun the process of challenging the judgment at a higher court, insisting that it disagrees with the decision.
“The party has already commenced the process of appealing the judgment, which we respectfully disagree with and consider to be legally unsustainable,” the statement added.
The party further said it took note of the dissenting judgment delivered by the presiding justice, describing it as more consistent with its position and the law.
“We also note the dissenting judgment of the presiding Justice, which, in our view, more accurately reflects the settled position of the law and the party’s position,” it stated.
The ADC appealed to its members and supporters across the country to remain calm and focused despite the court ruling.
“We urge all party members and the millions of our supporters to remain calm, confident and focused,” the statement said.
The party said it would continue to pursue its goal of offering Nigerians a credible alternative through constitutional and lawful means.
“The African Democratic Congress remains committed to the task of providing Nigerians with a credible alternative and will continue to pursue that mission in accordance with the Constitution and the rule of law,” the statement added.






