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Rising Cost Of Petrol Poses Challenges For Marketers, As Landing Cost Hits ₦870 Per Litre

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Rising Cost Of Petrol Poses Challenges For Marketers, As Landing Cost Hits ₦870 Per Litre

The cost of importing Premium Motor Spirit (PMS), also known as petrol, has increased significantly, with the landing cost now averaging ₦870 per litre, according to the Major Energies Marketers Association of Nigeria.
It is said that the hike comes at a time when the price supplied by the Dangote Petroleum Refinery is causing market friction, affecting both gasoline importers and marketers’ profits.
MEMAN reported a landing cost of ₦872 per liter on April 28 and ₦868 on April 29 for petrol. On April 23, the cost of a litre was ₦859, indicating the escalating expenses of importing petrol.

This spike has caused alarm among importers, who are now unable to sell their products at a profit due to pricing pressure.
Petrol prices vary greatly across the country. Dangote sold petrol for ₦840 on Thursday, matching the prices quoted by Matrix (Lagos) and Rainoil.

Other merchants, including Pinnacle, Mao, Sahara, AA Rano, and NIPCO, offered the fuel at higher prices ranging from ₦889 to ₦842, depending on location.

Retailers in Lagos enjoy lower prices, whilst those in the South-South pay more due to logistics costs. First Fortune charged ₦868 for petrol, while Sigmund and Liquid Bulk set prices at ₦870. In Ogun State, MRS sells petrol at ₦890 a litre, followed by Heyden at ₦885.

Speaking with Punch, Billy Gillis-Harry, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), stated that business has been slow due to the continual fluctuation of petrol prices.

“The fluctuation led to arbitrary price changes that are not well-managed,” stated the politician.

Regardless of the obstacles, Gillis-Harry emphasized that PETROAN members are committed to providing Nigerians with access to electricity.

The PETROAN president also noted that the government is working to stabilize the situation, and he is optimistic that the sector’s difficulties would be handled in the long term, benefiting both consumers and companies.

One key contributor to the current scenario is Dangote Petroleum Refinery’s pricing approach. Since the Federal Government’s naira-for-crude agreement with the refinery began, the refinery has routinely reduced petrol prices.

However, Dangote’s price drop has had a detrimental impact on fuel importers, requiring them to sell petrol at rates below their costs in order to avoid incurring too many losses.

Importers increased their rates from ₦860 to ₦950 after the naira-for-crude arrangement was suspended in March. Dangote reduced petrol prices to under ₦900 per liter in response to the Federal Government’s instruction to prolong the offer.

However, according to S&P Global, the pricing of refined petroleum products at Dangote’s refinery has unintentionally encouraged fuel imports into Nigeria.

Read Also: Support Younger Candidate and Confront APC in 2027 – Tinubu’s Ex-Aide Tells Atiku

S&P Global stated that, despite the global decline in crude oil prices, Dangote did not considerably lower its gantry pricing, resulting in additional imports into West Africa.

According to the research, between April 1 and April 9, the Eurobob M1 swap declined from $734.25 per metric tonne to $603/MT, a 17.9% drop, before recovering marginally. Dangote’s truck pricing at the gantry reduced by only 1.7% from ₦880/litre to ₦865/litre (later ₦835) throughout the same time period.

“This has promoted a flow of items into West Africa, where high domestic pricing have driven marketers to import in bigger amounts from overseas traders.

Support Younger Candidate and Confront APC in 2027 – Tinubu’s Ex-Aide Tells Atiku

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Support Younger Candidate and Confront APC in 2027 – Tinubu’s Ex-Aide Tells Atiku

The Peoples Democratic Party, or PDP, and former presidential candidate Atiku Abubakar have been advised by former Special Adviser to President Bola Tinubu on Political Matters Hakeem Baba-Ahmed not to run for president in 2027.

Baba-Ahmed advised Atiku to act as a father figure to a younger presidential contender in 2027.

During a Thursday night appearance on Channels Television’s Politics Today, he gave the advise.

The All Progressives Congress, or APC, would be taken to the “cleaners” by a younger Atiku presidential candidate, according to Baba-Ahmed.

He stated: “If I get the chance to sit with Atiku, I would tell him: Sir, you have done your share, you have supported democracy, you have done a good job representing it, your name is in gold, it’s time to give up the seat to someone younger; don’t run in 2027, and act like a father.”

“Look for a decent young person. If he were to field a younger, more skilled someone with less skeletons in their closet—someone with fewer vulnerabilities in terms of age, health, and everything else—they would completely destroy APC.

Read Also: Hakeem Baba-Ahmed: I Held Adviser Title Under Tinubu Without Duties

The ruling party is expanding with the wrong people, he insisted.

Baba-Ahmed claimed that the majority of people switching to the APC are either seeking jobs or escaping the EFCC, or Economic and Financial Crimes Commission.

“The wrong people are joining the APC, and all of these defections are directed towards the same goal: they are seeking jobs or escaping the EFCC.”

“The people who are rushing into the APC from all directions are a liability; it’s just a refugee camp that will blow up,” he continued.

 

Hakeem Baba-Ahmed: I Held Adviser Title Under Tinubu Without Duties

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Hakeem Baba-Ahmed: I Held Adviser Title Under Tinubu Without Duties

Hakeem Baba-Ahmed, a former Special Adviser on Political Matters to President Bola Tinubu, had a lot to give in terms of political counsel, which was the reason he was appointed, but he was unable to make a significant contribution in that role.
Baba-Ahmed, who was appointed in 2023 to work as a Special Adviser on political matters under Vice President Kashim Shettima’s office, resigned in April 2025, it was remembered.
Baba-Ahmed claimed he resigned because the Tinubu administration lacks the passion to improve Nigeria in an interview with Channels Television’s Politics Today on Thursday, May 1, 2025.

In particular, Baba-Ahmed stated that poverty and insecurity in the North have gotten worse under Tinubu, and he could not continue to cooperate with a government that no longer has the people’s mandate to effect change.

Read Also: Ministry of Education Calls Emergency Session Over NELFUND Loan Scandal

He claims that when Tinubu asked for a private meeting, he turned it down because he would have given him advice that he might not want to hear, such as not to seek reelection in 2027.

He said that instead of running for reelection himself, Tinubu should think about endorsing a younger, more dynamic member of his party to run for president in 2027.

However, Baba-Ahmed insisted that he did not regret working with the President, but he would decline the option to rejoin if it were presented to him again.

“The direction of the Tinubu administration—no,” he retorted. I didn’t work at all. In the position of the vice president, I was meant to counsel the president on political issues, but I never did.

Ministry of Education Calls Emergency Session Over NELFUND Loan Scandal

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Ministry of Education Calls Emergency Session Over NELFUND Loan Scandal

Alleged deductions and diversion of monies from student loans under the Nigeria Education Loan Fund (NELFUND) will be looked into by the Federal Ministry of Education.
An urgent meeting with the Managing Director of NELFund and the vice chancellors of the impacted universities has been set for May 6, 2025, according to a statement released Thursday by the ministry’s Director of Press and Public Relations.
It further stated that Dr. Marut Olatunji Alausa, the Minister of Education, called the accusations “extremely concerning and very disturbing.”

The Ministry promised that those found guilty would be punished accordingly.

According to the statement: “A report published by The Guardian Newspaper on Tuesday, April 29, 2025, alleging that certain Nigerian universities have made unauthorized deductions from funds disbursed under the Nigerian Education Loan Fund (NELFund) scheme has deeply concerned the Federal Ministry of Education.”

The claims were characterized as “very disturbing and extremely concerning” by the Honourable Minister of Education, Dr. Marut Olatunji Alausa, who emphasized that any unauthorized deductions from student loans not only violate financial ethics but also jeopardize the foundation upon which the NELFund was founded.

If confirmed, he said, such acts would be a flagrant betrayal of the government’s commitment to ensuring that all people had equal access to education and a serious breach of public confidence.

“Governance continues to be the main priority of our National Education Sector Reform Initiative (NESRI).”

Read Also: Oshiomhole Fires Back: Atiku Has Defected Multiple Times, Okowa Only Once

“We are dedicated to enhancing openness, encouraging prudent money management, and making sure that each kobo allotted for student welfare is used properly. I want to reassure Nigerians that this issue will not be ignored. Any guilty parties shall be subject to the proper penalties.

According to reports, the statement also restated President Bola Tinubu’s resolve to protect the fund’s integrity and guarantee that every Nigerian has access to high-quality education.

“NELFund was created to expand students’ access to high quality education and to support universities financially in a legal and sustainable way,” Dr. Alausa added, adding that President Bola Ahmed Tinubu, who established NELFund as a flagship initiative, made adequate budgetary provisions to support both students and institutions in a fair and transparent manner. The President’s goal of inclusive human capital development is incompatible with any attempt to misuse this cash.

The administration’s dedication to safeguarding public funds and guaranteeing that students benefit fully from all government education support programs was reiterated by the Honorable Minister.

Oshiomhole Fires Back: Atiku Has Defected Multiple Times, Okowa Only Once

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Oshiomhole Fires Back: Atiku Has Defected Multiple Times, Okowa Only Once

According to Edo North Senator Adams Oshiomhole, former Vice President Atiku Abubakar has no moral right to condemn former Delta State Governor Ifeanyi Okowa’s decision to abandon the Peoples Democratic Party (PDP) in favor of the All Progressives Congress (APC).
According to Oshiomhole, Atiku, a serial defector, cannot question Okowa, who has only defected once.

The former Edo State Governor made the statement on Wednesday at the Independent Television and Radio’s 28th Founders’ Day Lecture, titled “Nigeria, where are we going?”.
Oshiomhole noted that Atiku, as a sitting Vice President, switched from the party that gave him a platform, joined another party, received its presidential ticket, contested and lost an election.

He went on to say that the Supreme Court ruled that there was nothing wrong with his actions, thus the PDP chairman has no moral footing to chastise them because switching parties is his specialty.

“I was listening to those who sought to assess the significance of the Edo-Delta reunification with Dr. Okowa and Governor Oborevwori joining the APC.

Read Also: Property Dispute: Court Fixes May 26 For Ruling

“And those who are talking, including people like Atiku, who helped us realize by his action that a sitting vice president can decamp and take the position of a vice president to an opposition party and still retain the position and Supreme Court has pronouncement on that”

“At the time, I was the NLC’s unofficial opposition president. He subsequently proceeded to Bourdillon, Lagos, to join another party named Action Congress, where he ran for president and failed.

“This same guy who is louder in his criticism of Okowa deserted back to the PDP, contested and lost, then decamped to the APC and contested against former President Muhammadu Buhari, losing. He returned to the PDP, contested against President Bola Tinubu, and lost,” he stated.

He expressed surprise that Atiku was attacking a man who had only switched political parties once.

Property Dispute: Court Fixes May 26 For Ruling

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Property Dispute: Court Fixes May 26 For Ruling

Justice Akingbola George of the Lagos State High Court has adjourned ruling for May 26, 2025 in an application seeking leave to amend the statement of defence and counterclaim in Suit No: LD/4471LM/2023.

The court fixed the date following an oral arguments from counsel representing the parties Mr. A.N. Salau for the defendant, Anthony Ugbebor, a United States based Engineer and Mr. D.A. Ajiboye for the claimant, Oak Homes Multinational Services Ltd.

During the court proceedings, Salau informed the court that the defence filed a motion dated March 31, 2025, seeking to amend its initial statement of defence and counterclaim, along with other related court processes.

The application, he noted, contained five prayers supported by a written address and an affidavit.

Among the reliefs sought is an order granting leave to amend the defence and deeming the separately filed amended processes as properly before the court.

Salau argued that the amendment became necessary to include critical facts omitted in the earlier filing, particularly those countering the claimant’s assertion that the properties in dispute had been sold.

According to the affidavit in support, the claimant is allegedly attempting to sell the first defendant’s properties without authorisation, despite the ongoing litigation.

The proposed amended defence contends that the contractual relationship between the parties began with an offer letter dated November 6, 2017, which the defendant accepted.

It further alleges that the claimant breached the agreed project delivery date of February 28, 2019—well before the COVID-19 pandemicand that the delay has adversely affected the defendant.

Salau also indicated that the defence intends to call additional witnesses, and argued that the right to amend pleadings before the commencement of trial remains preserved.

“The claimant had the opportunity to amend and respond to our counterclaim.

“Their cited authority even supports our right to amend. We urge the court to disregard their counter affidavit and grant our application,” he submitted.

In response, the claimant’s counsel, Ajiboye, said he filed their counter affidavit on April 17, 2025, and relied on a seven-paragraph counter affidavit opposing the application. He argued that the motion was brought in bad faith and intended to overreach.

“The facts the applicant seeks to introduce only arose between January and December 2024. They are coming late, and it is in the interest of justice that this court strike out the application,” he said.

After hearing both sides, Justice George adjourned the matter to May 26, 2025, for ruling on the application and commencement of trial.

Rivers State Crisis: Labour Calls for Tinubu’s Intervention on May Day

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Rivers State Crisis: Labour Calls for Tinubu’s Intervention on May Day

President Bola Tinubu has been urged by Nigerian organized labor to lift the state of emergency imposed in Rivers State.
Comrades Joe Ajaero and Festus Osifo, presidents of the Nigeria Labour Congress and the Trade Union Congress, respectively, voiced the proposal at the May Day event in Eagle Square, Abuja.
The leaders of the Labour Party called on the federal and state governments to stop activities that weaken the civic space and to strengthen it for the benefit of the country.

On the foundation of open government, electoral reforms, and an end to repression of dissent, they called for democratic accountability.

The Congress urged the administration to put an end to what it describes as the nationwide bloodletting and genocidal slaughter, stating that protecting residents’ lives and property is the government’s first priority.
Organized labor has demanded that they step aside from the tax measures that are currently before the National Assembly so that Nigerian workers can participate in the planning process.

Read Also: Fear as Stylist Ejiro Vanishes After Joining Prayer Group

The tax legislation, which were drafted without the NLC and TUC’s input, are said by organized labor to burden workers while absolving businesses and the wealthy.

The labor unions called for an immediate drop in the telecommunications tariff from fifty percent to thirty-five percent.

Additionally, organized labor has called for a pay raise that is immediately in line with the nation’s current economic situation.

The Labour Party has also called for the prompt payment of all unpaid allowances, pensions, and gratuities nationwide; the reinstatement of gratuity payments; an increase in the retirement age; and the automated adjustment of pensions to account for inflationary trends.

Fear as Stylist Ejiro Vanishes After Joining Prayer Group

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Fear as Stylist Ejiro Vanishes After Joining Prayer Group

There have reportedly been no signs of the location of Ejiro, a Nigerian stylist, for more than two weeks.
An entrepreneur going by the name of Nkechi Harry-Ngonadi reportedly expressed concern over Ejiro’s abrupt disappearance in a social media post.
After Ejiro joined a specific prayer group on social media, Harry-Ngonadi claimed she sold all she owned, shut down her successful business, and disappeared from her house.

Additionally, she begged the public for help in providing crucial information regarding Ejiro’s location, stating that she plans to pursue legal action otherwise.

What happened to Ejiro, the CEO of @stylebyejiro? Ejiro is one of the two wonderful women who were close to me and abruptly vanished a few weeks ago, which caused me much distress. I have been praying for both women fervently, and I was particularly concerned about Ejiro. I attempted to phone and message, but to no effect. Despite hearing concerning information from her family when I contacted them, I chose to conduct my own research.

According to what I’ve been informed, Ejiro joined a social media prayer group here, and ever since then, her life and business have taken a nosedive, shutting down entirely, selling all she owned, and going missing.

Read Also: Jandor: Here’s Why I’m Back in APC Despite Coalition Against Tinubu

As with prior birthdays, I contacted her to pray with her a few weeks ago, but I haven’t been able to get through to her since. If you have any important information, please get in touch with me since I plan to pursue this legally. Help is needed for Ejiro. Kindly offer up prayers for her. #Whereisejiro

Sisi Yemmie, a well-known food content creator and influencer, posted on 𝕏 during Ejiro’s disappearance, saying, “Apparently there are a couple of groups on Instagram/social media that lures successful women (9ja) under the name of religion, makes them turn their backs on their families, takes over their business and properties and you never see these women again… things dey occur.”

Tragedy as Explosion Kills Nine in Borno

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Tragedy as Explosion Kills Nine in Borno

Nine individuals have been confirmed deceased due to an explosion at a local bus stop in Mairari village, located within the Guzamala Local Government Area of Borno State.
The explosion, which was triggered by an IED, reportedly occurred around 11 a.m. on Saturday and left several others wounded.
Punch reports that the blast was aimed at individuals waiting to get onto vehicles at the bus stop. The local community is reeling from the incident, with many still recuperating from the trauma.

On Sunday, Hon. Abdulkarim Lawan, the Speaker of the Borno State House of Assembly, verified the unfortunate event to Punch. He conveyed profound regret regarding the loss of life, referring to the victims as “resilient constituents.”

Lawan stated, “It is regrettable that nine of my tenacious constituents lost their lives to planted IEDs as they awaited transportation at a local bus stop in Mairari village.”

He prayed for the souls of the deceased in his statement, saying, “May Allah grant their souls Aljanatul Firdaus. I pray for a quick recovery of those who were evacuated to hospitals in Monguno and Maiduguri for treatment after the incident.

Lawan elaborated that Mairari village had undergone two previous resettlements with civil authority but had become deserted again due to ongoing attacks from Boko Haram and ISWAP.

He stated, “You know that Mairari village, which was the only village to be resettled twice under civil authority in the entire Guzamala Local Government Area, has once again been abandoned due to Boko Haram/ISWAP attacks.”

Read Also: APC Appeals to Ighodalo: Don’t Proceed to Supreme Court

The legislator remarked that numerous displaced individuals who had fled to Monguno, Guzamala, and Maiduguri would travel to Mairari for farming activities. Regrettably, terrorists who had been tracking their movements set the IEDs at the bus stop, which detonated while they were waiting to head back to their destinations.

Lawan expressed his sympathy to the families of the victims as well as to those who suffered injuries in the assault. He urged the military and other security agencies to act swiftly to reestablish safety in the Guzamala area, especially in Gudumbali (the council’s headquarters) and nearby regions that have been dominated by Boko Haram for an extended period.

He called for renewed efforts to secure areas such as Mairari village, which has lacked civil authority for years because of the ongoing insurgency.

Jandor: Here’s Why I’m Back in APC Despite Coalition Against Tinubu

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Jandor: Here’s Why I’m Back in APC Despite Coalition Against Tinubu

Jandor, also known as Abdul-Azeez Olajide Adediran, the Peoples Democratic Party’s (PDP) candidate for governor of Lagos in the general elections of 2023, has given an explanation for his choice to rejoin the All Progressives Congress (APC).”
When Jandor visited the APC state secretariat in Acme, Ikeja, the party’s executive council, presided over by State Chairman Cornelius Ojelabi, greeted him.
During the event, he indicated that he would run for governor of Lagos again on the APC platform and stated that he would be willing to back President Bola Tinubu’s reelection campaign in 2027.
“We are merely coming to formally inform you of our decision to return home and to the APC family; this is not our official declaration.” It is a pleasure to return to the winning family.

“In order to continue winning for Nigerians, we have decided to combine our numerical strength with the current party strength.

“We are concentrating on figuring out how to dismantle the coalition against Mr. President and try to regain our position as President of Nigeria in 2027,” Jandor explained.

In 2022, Jandor remarked that his decision to resign from the APC to the PDP was a strategic effort to find room to demonstrate his abilities.

According to him, “I am a man of conviction.” “I don’t just do what the others do. Then, we left APC for strategic reasons. Now that we’re back, we have political clout rather than nothing.

He ascribed his decision to rejoin the APC to the growing political ploys to undermine President Tinubu’s chances in 2027.

Read Also: PDP: Our Mission is to Rescue Nigeria by 2027

A Yoruba saying goes, “Omo eni o ni se idi bebere ka fi leke si idi omo elomiran,” which means that charity starts at home. It is our duty to protect our own. Ensuring President Tinubu’s comeback in 2027 is our top goal. The rest is incidental,” he continued.

Jandor said that if the party supports his goal, he is still willing to running for governor, even though he has not officially expressed his intention to do so.

“I have not abandoned my bid for governor. In the event that the party hands us the ticket, we will seize it. We shall, however, comply with whatever the party chooses.

He reaffirmed his dedication to reintegrating fully into the APC and returning with the same degree of political significance as when he left.

In welcome Jandor back, APC Chairman Cornelius Ojelabi said the decision was strategic and well-timed for the party.

The 37 LCDA chairmen and all 20 local government representatives were consulted before to this reunion. Ojelabi said, “We need to make amends in 2027 because the 2023 elections weren’t our best performance.” “With you back, we can deliver at every level and break that record.”

He promised him complete reintegration and acknowledged Jandor’s political clout in Lagos.

One of Asiwaju Tinubu’s qualities is forgiveness. His former opponents are frequently accepted and assimilated after they return. The door is open, and you are taking the correct move today.

In addition, Vice Chairman Maiyegun Moshood praised Jandor’s comeback, stating that it will contribute to bringing back the spirit of Lagos politics.

“You have a strong enthusiasm for Lagos. He said, “Your return strengthens the core of our party.”

According to Seye Oladejo, the party’s publicity secretary, Jandor’s defection had severely damaged the PDP.

Because of this action, the PDP no longer has a viable candidate for governor. Their party is not as strong as it once was,” he said.

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