Nigerian petrol marketers to dump Dangote Refinery for cheaper fuel.

Nigerian petroleum product marketers have announced plans to abandon Dangote Refinery’s petrol in favour of cheaper imported fuel.

The spokesperson of the Independent Petroleum Marketers Association of Nigeria, IPMAN, Chinedu Ukadike, disclosed this to DAILY POST on Friday.

This follows the drop in the landing cost of imported fuel to N839.97 per litre, which is N37 cheaper than Dangote Refinery’s gantry petrol price of N877 per litre.

Commenting on the development, Ukadike hinted that petroleum marketers would opt for imported fuel to enable Nigerians to access cheaper petrol.

He noted that the price disparity was a result of the liberalisation and deregulation of the country’s downstream sector.

“It is due to the liberalisation of the sector, which has set the tune for a price war. Marketers now have the option to buy either at N877 per litre with Dangote Refinery or N839 with MEMAN.
“The concern here is why would a local refinery (Dangote) sell petrol higher than imported ones?
“As petroleum product marketers, Nigerians are interested in buying petrol that is cheaper. When we have cheaper fuel, it sells faster,” he told DAILY POST.

ex-depot prices of Emedab, Gulf Treasure, Ardova and Bono stood at N875 per litre, while that of Dangote Refinery remained at N877.

As of Friday evening, petrol was being sold at between N950 and N965 per litre at Nigerian National Petroleum Company Limited, NNPCL, MRS, Ranoil, Total and Emedab retail outlets in Abuja.

Convicted NNPC Senior Official Forfeits $2.5 Million Los Angeles Mansion to U.S. Government.

Paulinus Iheanacho Okoronkwo, a senior official of the Nigerian National Petroleum Company (NNPC), has forfeited a $2.5 million mansion in Los Angeles, California, to the U.S. government after being convicted of money laundering.

A preliminary forfeiture order issued on October 3, 2025, by Judge John Walter of the U.S. District Court for the Central District of California, directed that Okoronkwo’s luxury property at 25340 Twin Oaks Place, Valencia be seized and transferred to the government.

According to court documents obtained by Peoples Gazette, the property—identified as Tract No. 45433, Lot 12 (Assessor’s Parcel No. 2826-143-004)—was linked to proceeds from illegal financial transactions in violation of U.S. money-laundering laws.

The ruling followed Okoronkwo’s conviction on three counts of money laundering, as detailed in a superseding indictment by U.S. prosecutors. The court found a “requisite nexus” between the offences and the mansion, making it subject to forfeiture.

Assistant U.S. Attorney Alexander Su, who handled the forfeiture motion, confirmed that the government could immediately seize and liquidate the asset under federal forfeiture laws. The U.S. Attorney General was also authorised to notify any third parties with potential claims.

The court ruled that the forfeiture would become final at sentencing, forming part of Okoronkwo’s punishment and granting the U.S. government clear title once all third-party claims are resolved.

The case—United States v. Paulinus Iheanacho Okoronkwo (Case No. 2:24-CR-20(A)-JFW)—is part of a wider U.S. federal probe into international financial crimes involving politically exposed persons from Nigeria and other countries.

Okoronkwo’s case adds to a growing list of Nigerian officials and business executives whose U.S. assets have been seized after being traced to illicit offshore transactions.

Nnamdi Kanu: Umuahia locked down as shops, schools, banks close.

Abia State capital on Monday was totally locked down as residents decided to withdraw from their daily businesses and operations in solidarity with the #FreeNnamdiKanu march being championed by rights activist Omoleye Sowore.

The roads were virtually empty except for the occasional movement of tricycles and a few vehicles.

Economic and commercial activities were totally paralysed as shops, markets, banks, petrol stations, motor parks did not open for business.

Similarly, schools, both private and public, did not open for studies.

It was gathered that some of the schools had, over the weekend, sent messages to parents asking them not to bring their children and wards to school on Monday because of the #FreeKanu protest.

A convoy of joint security patrol vans was sighted along Uwakala Road, probably monitoring the situation.

Traders at the popular Isigate market did not show up for business, as their wares and tables were all covered.

Most of the major streets, including Post Office/Abia Tower Junction, FMC/Bank Road Junction, and Umuahia, visited by our correspondent, were a ghost of themselves.

Aliko Dangote, has warned that claims of monopoly, especially in the petroleum sector, are capable of discouraging local investment in the nation’s economy.

Dangote Refinery deploys CNG trucks to distribute petrol at N850 per litre.

The Dangote Petroleum Refinery has intensified efforts through the use of Compressed Natural Gas (CNG)-powered trucks to distribute Premium Motor Spirit, PMS, also known as petrol at N850 per litre to different parts of the nation.

Chief Executive officer of Petroleumprice.ng, Olatide Jeremiah, said: “Generally, the depot prices have increased. Market data showed that petrol sold between ¦ 870 and ¦ 900 per litre at key depots in Lagos and Calabar, reflecting a steady climb over the past week.

“In Lagos, where most private depots rely on imported supply, prices remained elevated even after recent reviews. Aiteo and Pinnacle both sold petrol at ¦ 890 and ¦ 870 per litre, respectively, while Integrated Oil and Gas priced PMS at ¦ 870 per litre.

“At Calabar, Matrix Energy and Northwest Petroleum traded at ¦ 890 and ¦ 880 per litre, while Sobaz Depot hit ¦ 900 per litre —the highest recorded so far this month.”

“The hike in depot prices would likely crash once the Dangote Petroleum Refinery completes its rehabilitation because the plant has the capacity to impact the domestic market.”

However, the retail prices of petrol have increased by 6.8 percent to N955 per litre, from N890 per litre sold last week.

The NNPCL, and stations owned by Independent Marketers in Lagos and Abuja showed that the petrol was dispersed between N900 and N955 per litre.

Also, petrol marketers across Abuja, the nation’s capital, on Tuesday increased their pump price by over N50 per litre following a similar increase by NNPC Limited.

Depot petrol prices have skyrocketed to almost ₦900 per litre in key coastal locations across Nigeria. This increase is due to operational and supply issues at the Dangote Petroleum Refinery, which have put pressure on the distribution network.

Dangote Refinery: NEPZA insists on no strike or lockout in free trade zones.

The Nigeria Export Processing Zones Authority (NEPZA) has said there will be no strike or lockout in the Dangote refinery, as it reaffirms the Authority law to enforce a 10-year ban on industrial strikes and lockouts in the Free Trade Zones.

A statement signed by the Managing Director, NEPZA, Dr. Olufemi Ogunyemi, said due to the frequent and excessive external union infiltrations that have destabilised the smooth operation of the Dangote Refinery, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the shutting down of critical oil and gas facilities last week over allegations that Dangote refinery had sacked 800 workers who joined the union, the Authority has to re-enforce the law.

“Even though the Dangote refinery held that it only sacked a few workers who were allegedly sabotaging the facility, claiming this was part of the company’s reorganisation, the Authority reaffirms its commitment to the rule of the book that there should not be industrial strike or lockout whatsoever in the premises of the Free Trade Zone.”

The MD added: “The recent escalation of the trade dispute between the zone and the PENGASSAN, particularly given the refinery’s status as a Free Trade Zone, was worrisome.

“The trade union should have directed its concerns through NEPZA, as required by law, as the Authority operated a One-Stop-Shop administrative model to fast-track processes.

“Section 18(5) of the Nigeria Export Processing Zones (NEPZA) Act provides that there shall be no strikes or lock-outs for a period of ten years following the commencement of operations within a Zone, and the Authority shall resolve any trade dispute arising within a Zone.

“The above provision imposes a 10-year prohibition on strikes and lockouts within Free Zones while still allowing workers to join or form trade unions and engage in collective bargaining.

“We are pleased that the conflict has been de-escalated. Dangote Refinery is declared FTZ that continues to benefit from tax incentives and customs duty waivers to support the economy.

FUPRE students block East-West road over alleged hike in tuition.

Some students of the Federal University of Petroleum Resources,FUPRE in Effurun, Uvwie Local Government Area of Delta State on Wednesday, blocked the East-West road including all access into the University campus protesting over an alleged hike in tuition fees.

The students who carried placards, danced along the road chanting solidarity songs.

President of the Student Union Government, SUG Etinosa in a telephone chat with our reporter said the union is not part of the protest. “No!!!We are not part of the protest.”

Etinosa said,”I have talked to the students and I asked them to calm down. I have pushed their complaints to the Management. Both the Management and the students have just put me in the middle. To be very honest, this thing is tiring.”

FUPRE Vice Chancellor, Prof. Agbalagba in a telephone chat with our correspondent confirmed the protest but denied knowing the students involved.

He said the protesting students are faceless people and unknown to the Student Union Government, and that the school’s management had not concluded negotiations with the SUG as to the exact fee students are to pay in about five meetings they’ve had.

“They’re not student union leadership. SUG is not part of what they’re doing.

According to him,”We heard issues of review fee charges and we’ve been having meetings with the student union leaders. We’ve had five(5)meetings. We’ve not concluded.

PENGASSAN fires back at Shetima for condemning its strike action against Dangote.

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has criticized the Vice President Kashim Shettima over his comments condemning its strike action against the Dangote refinery.

PENGASSAN Fires Back At Shettima For Condemning Its Strike Action Against Dangote
Last week, the PENGASSAN shut down key oil and gas facilities in protest against the alleged dismissal of 800 workers by the Dangote refinery for joining the union.

The refinery, however, denied the claim, insisting it only dismissed a few employees accused of sabotaging operations as part of its internal restructuring.

The strike caused disruptions in oil and gas production and affected electricity generation nationwide.

After government intervention, PENGASSAN suspended the strike on Wednesday when the Dangote Group agreed to redeploy the affected workers to other business divisions.

Despite the resolution, fuel queues persisted in some cities, and the cost of cooking gas remained high, selling for around N2,000 per kilogram in Lagos and other areas.

Speaking at the opening of the 2025 Nigerian Economic Summit in Abuja on Monday, Shettima described Aliko Dangote as more than an individual, calling him a major institution in Nigeria’s economy.

The vice president warned that no group or association should hold the nation to ransom, saying Nigeria is greater than PENGASSAN.

In its response, PENGASSAN’s National President, Festus Osifo, stated that Nigeria is also greater than Dangote and the Presidency.

A Nigerian Army officer, Lieutenant Samson Haruna, has died from severe burns after his wife allegedly set him ablaze during a domestic quarrel in Akwa Ibom State.

The incident reportedly occurred on September 22, 2025, at the Wellington Bassey Barracks in Ibagwa, Abak Local Government Area. Counter-insurgency expert Zagazola Makama disclosed the development in a post on X on Tuesday.

According to sources cited by Makama, the officer, a medical doctor serving as the Regimental Medical Officer with the 6 Battalion had a heated argument with his wife, Mrs. Samson Haruna, during which she allegedly poured petrol on him and ignited it.

Lt. Haruna was initially treated at the Military Reference Section within the barracks before being transferred to the University of Uyo Teaching Hospital. Despite the efforts of medical personnel, he later succumbed to his injuries.

The suspect has since been arrested and is currently in custody as investigations into the tragic incident continue.

Adamawa State Command of the Nigeria Security and Civil Defence Corps, NSCDC, has intercepted a trailer containing stolen pipes belonging to the Nigerian National Petroleum Company Limited, NNPCL.
@DailyPostNGR

Nigerians Groan as Cooking Gas Price Hits ₦1,800 Per Kilogram Amid Shortage.

The cost of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has surged sharply across several Nigerian cities, including Lagos, Ogun, and Ibadan, following a nationwide shortage.

The scarcity was triggered by a three-day strike by oil workers, which disrupted gas supply and distribution across the country. Prices have also spiked in other states such as Port Harcourt, Cross River, Kano, and Kaduna.

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) had embarked on the strike last week to protest the dismissal of some workers at the Dangote Refinery. Although the strike has since been suspended, the brief disruption in supply caused many gas depots to run dry, leading to rationing and steep price hikes.

In many parts of the country, the price of cooking gas has jumped from around ₦1,000 per kilogram to between ₦1,600 and ₦1,800.

In Abuja, refilling a 12.5kg cylinder now costs between ₦17,000 and ₦18,750, depending on the location. In districts such as Wuse, Garki, and Kubwa, a kilogram of LPG sells for ₦1,350 to ₦1,500, while some outlets in Jabi offer a 12.5kg refill for about ₦17,000.

Retailers in the city report that many outlets ran out of stock by Sunday, while those still selling gas increased their prices significantly.

A similar situation is unfolding in Lagos and Ogun States, where the price per kilogram rose from about ₦1,000 and ₦1,100 respectively last week to between ₦1,300 and ₦1,800 over the weekend.

Across Nigeria, households and small businesses continue to feel the impact of the gas shortage, as prices soar daily with no immediate relief in sight.

"Dangote is an institution, how we treat him will determine how outsiders will judge us" — VP Shettima warns PENGASSAN.

Vice President Kashim Shettima has called on Nigerians to respect and protect the multibillion-dollar investment of Africa’s richest man, Aliko Dangote, describing it as essential to the nation’s economic stability and growth.

He emphasized that the 650,000-barrel-per-day Dangote Refinery represents a national asset critical to Nigeria’s industrial expansion and global competitiveness. 

His remarks came amid the recent industrial action by oil workers under the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) over the alleged dismissal of about 800 unionized employees. 

IThe strike was later suspended after the intervention of Labour Minister Muhammad Dingyadi and National Security Adviser Nuhu Ribadu.

Shettima lauded Dangote’s decision to invest heavily in Nigeria rather than taking his capital abroad. 

He said, “Aliko Dangote, he’s not an individual, he’s an institution, and he’s a leading light in Nigeria’s economic parliament. And how we treat this gentleman will determine how outsiders will judge us. If he had invested $10 billion in Microsoft, in Amazon, or in Google, he probably might be worth $70 to $80 billion by now. But he opted to invest in his country, and we owe it to future generations to jealously protect, promote, preserve, and protect the interests of this great Nigeria.”

The Vice President also urged labour unions and the private sector to exercise restraint and patriotism when handling industrial disputes, warning that rash actions could jeopardize the nation’s progress.

“It’s not about holding the whole nation to ransom because of a minor labour dispute. Nigeria is greater than PENGASSAN. Nigeria is greater than each and every one of us. I’m not coming to you as a partisan,” he added.

The Group Chief Executive of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has attributed the recent scarcity in cooking gas to a temporary loading and disruption during the strike action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

Retired Judge wants govt to sack PENGASSAN as association.

Following the dispute between the management of Dangote Refinery and Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) over the dismissal of some PENGASSAN staff by the Dangote
Petroleum Refinery, the retired Judge of the Federal Capital Territory (FCT) High Court of Justice, Hon. Justice Mwada Balami, has called on the Federal Government to sack the PENGASSAN as an association for the sake of economic stability of the country.

Balami, who made this call while speaking to Peoples Daily on the state of the nation, said PENGASSAN was a threat to the government for so long now in terms of industrial strike in the country.

He expressed dismay over the activities of PENGASSAN which he said had been creating economic hardships for the people of Nigeria.

Residents scramble for LPG as scarcity hits Ibadan, marketers increase price.

Residents of Ibadan, the Oyo State capital, are currently experiencing scarcity of Liquefied Petroleum Gas (LPG), also known as cooking gas.

Residents of the ancient city have been experiencing the scarcity since Friday.

It was learnt that some of the stations that sell at wholesale and retail levels are not dispensing the product due to the shortage.

Our correspondent learnt on Saturday that most of the gas stations and depots still selling are currently experiencing a large turnout of residents eager to buy the commodity.

The price of LPG has also increased.

It was gathered that a litre of LPG, which previously went for between N900 and N950 in some depots at wholesale, is now being sold for between N1,000 and N1,100.

The situation is the same among retailers.

It was further learnt that the majority of retailers did not have the product as of Sunday morning. Those who had stock had also increased their prices.

Our correspondent gathered that a litre of LPG, which previously sold for between N1,100 and N1,300 at retailers’ shops, is now going for between N1,300 and N1,500.

Twist As PENGASSAN Denies Signing Dangote Truce To Suspend Strike.

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has distanced itself from the federal government communique that announced the suspension of its nationwide strike against Dangote Refinery, insisting it did not sign the document.

Fresh Twist As PENGASSAN Denies Signing Dangote Truce To Suspend Strike
the union suspended its industrial action on Wednesday, October 1, after government intervention, but stressed that its concerns over the welfare of more than 800 sacked workers were not fully addressed.

Appearing on Channels Television’s The Morning Brief on Thursday, October 2, PENGASSAN President, Festus Osifo, explained that the communique presented after the negotiations was not an agreement between the parties.

“If you see that communiqué, we did not sign it. Normally, it is supposed to be signed by three parties. We did not sign because we felt that some things in it were not okay with us,” Osifo said.

He clarified that the communiqué was only a communication by the Minister of Labour and Employment, who acted as chief conciliator in the matter.

Union Insists On Workers’ Reinstatement
Osifo said the core of PENGASSAN’s demand was the reinstatement of the disengaged staff.

“The statement that Dangote made on workers sabotaging the economy was totally incorrect. If we had allowed that sabotage tag to stand, those 800 people would not be able to secure jobs in the future. That stigma would remain forever. Clearing that was a very big win,” he said.

The union leader dismissed suggestions that PENGASSAN’s fight was about check-off dues, stressing that the priority was ensuring its members could return to work and provide for their families.

“Our position is clear: take the people back to the refinery. That is all we asked for,” he insisted.

Nigerian Govt, PENGASSAN, Dangote Refinery reach truce.

The Federal Government, on Tuesday, brokered a truce between the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, and the management of Dangote Petroleum Refinery.

The Minister of Labour and Employment, Dr Muhammad Maigari-Dingyadi, made this known in a statement on Wednesday at the end of a two-day conciliation meeting in Abuja.

The meeting, which held on Monday and Tuesday, brought together the National Security Adviser, Ministers of Finance, Budget and Economic Planning, and State for Petroleum (Gas), alongside the DSS, NIA, NNPCL, NMDPRA, NUPRC and labour leaders.

Recall that the conciliation was convened after PENGASSAN directed its members to stop gas supply and withdraw services from the refinery.

PENGASSAN had alleged that the company terminated the employment of more than 800 of its members, which triggered the industrial action.

Meanwhile, Dangote Refinery explained that the disengagement of workers was due to an ongoing restructuring exercise in the company.

According to the communiqué, the meeting resolved that unionisation is a fundamental right of workers under Nigerian law and must be respected by the company.

Removing Corrupt Petroleum Subsidy Was A Tough, But Necessary Decision – President Tinubu Opens Up.

President Bola Tinubu, on Wednesday, admitted that it was not an easy decision to end the controversial fuel subsidy regime in Nigeria.
Removing Corrupt Petroleum Subsidy Was A Tough, But Necessary Decision - President Tinubu Opens Up
He, however, added that it was a necessary and timely decision needed to save Nigeria’s economy from total collapse.

President Tinubu made the acknowledgement during his nationwide broadcast to Nigerians on the occasion of the country’s 65th Independence Anniversary celebration.

It would be recalled that President Tinubu, on May 29, 2023, right from the venue of his inauguration, declared an end to the fuel subsidy regime, prompting an immediate rise in the price of petrol, heightened inflation and other economic pressures.

Addressing the issue during his speech on Wednesday, Tinubu stated that the fuel subsidy regime was a corrupt system that needed to be abolished. He added that since the removal of fuel subsidy, the accruing financial resources have been deployed to other areas of development in the country.

“As a new administration, we faced a simple choice: continue business as usual and watch our nation drift, or embark on a courageous, fundamental reform path. We chose the path of reform. We chose the path of tomorrow over the comfort of today.

“In resetting our country for sustainable growth, we ended the corrupt fuel subsidies and multiple foreign exchange rates that created massive incentives for a rentier economy, benefiting only a tiny minority. At the same time, the masses received little or nothing from our commonwealth,” he said.

The President explained that the money saved from subsidy removal was channelled to other key areas, education, healthcare, security, agriculture, and infrastructure, areas he said would improve the lives of Nigerians.

“Following the removal of the corrupt petroleum subsidy, we have freed up trillions of Naira for targeted investment in the real economy and social programmes for the most vulnerable, as well as all tiers of government.

NAFDAC Bans Petroleum Tankers From Transporting Cooking Oil.

National Agency for Food and Drug Administration and Control (NAFDAC) has ordered petroleum tankers to stop transport ing edible oil.

At a meeting with the leadership of the National Union of Edible Oil Tanker Drivers of Nigeria (NUEOTDN) and edible oil manufacturers, the agency’s director of Investigations and Enforcement, Dr Martins Iluyomade, expressed worry over the use of the same tankers meant for petroleum products to transport edible Oil.

Iluyomade, also a member of the Federal Task Force on Fake Drugs, issued a seven-day ultimatum to tanker owners to have dedicated trucks for the sole transportation of edible oil.

According to the NAFDAC director, the directive was to protect public health and prevent Nigerians from taking adulterated cooking oil protected public health and prevented

He said over 200 million Nigerians are directly or indirectly using cooking oil, so the agency must take steps before they fall prey to cooking oil mixed with petroleum products.

“Calling for this meeting with members and the executive of the National Union of Edible Oil Tanker Drivers of Nigeria (NUEOTDN) and the manufacturers is based on the plan to halt petroleum product drivers from switching tankers meant for petroleum products for edible oil.

“We are making it mandatory for all manufacturers of Edible oil and the tanker drivers to have dedicated tankers meant purely for conveying cooking oil, as the lives of over 200 million Nigerians could be at risk by using such tankers.

“We are giving them up to the first week in October to have their tankers painted to green tankers, while the body head will carry the stickers of the National Union of Edible Oil Tanker Drivers of Nigeria (NUEOTDN) for early identification.”