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Dangote Again Reduces Petrol Price By N65 To N825 Per Litre

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Dangote Petroleum Refinery & Petrochemicals has slashed the price of Premium Motor Spirit (PMS), or petrol, for the second time this month. It has cut N65 off the previous price of N890, bringing it down to N825 per litre at the gantry (ex-depot). This follows a N60 reduction on February 1.

The ex-depot price has thus decreased from N950 per litre in January to the current price of N825 per litre, representing a reduction of N125 per litre within 26 days.

This recent price reduction will also ensure that Nigerians pay between N860 and N865 per litre for petrol at the pump in Lagos.

In a statement from the first privately owned petroleum refinery in Africa, it was announced that the price adjustment will take effect from Thursday, February 27, and is intended to provide essential relief to Nigerians.

“This strategic price adjustment is designed to provide essential relief to Nigerians in celebration of the Ramadan season, while also supporting President Bola Ahmed Tinubu’s economic recovery policy by alleviating the financial burden on the Nigerian populace.

“It is important to note that Dangote Petroleum Refinery has consistently lowered the prices of petrol and other refined petroleum products to the benefit of Nigerians. This marks the second reduction of PMS prices in February 2025, following a previous decrease of N60 earlier in the month. Additionally, in December 2024, during the yuletide period, the refinery reduced the price of PMS by N70.50, from N970 to N899.50 per litre, as part of its commitment to easing the cost of living and providing relief to Nigerians during the holiday season,” the statement read.

The refinery highlighted that previous reductions have positively impacted the overall cost of living, benefiting various sectors of the economy. They also helped ensure that Nigerians did not experience the typical fuel scarcity and price hikes associated with the yuletide season.

Dangote reiterated that its high-quality products, which have become a favourite in both domestic and international markets, will remain available nationwide, particularly through its key partners—MRS Holdings, AP (Ardova Petroleum), and Heyden—at market-friendly rates.

“Nigerians will be able to purchase high-quality Dangote petrol at the following prices across our partners’ retail outlets: For MRS Holdings stations, it will be sold for N860 per litre in Lagos, N870 per litre in the South-West, N880 per litre in the North, and N890 per litre in the South-South and South-East regions, respectively.

“The same product will also be available at the following prices in AP (Ardova Petroleum) and Heyden stations: N865 per litre in Lagos, N875 per litre in the South-West, N885 per litre in the North, and N895 per litre in the South-South and South-East,” it added.

Dangote Petroleum Refinery assured the public of a consistent supply of petroleum products, with sufficient reserves to meet domestic demand and a surplus for export, thereby boosting the country’s foreign exchange earnings.

The refinery called on marketers to support this initiative, ensuring that Nigerians remain the primary beneficiaries of this effort.

“This collective action will contribute to the broader economic recovery plan led by His Excellency, President Bola Ahmed Tinubu, who is committed to making Nigeria self-sufficient in refined petroleum products and positioning the country as a leading oil export hub,” it concluded.

Dangote Petroleum Refinery, which has exported its products to Europe, America, Asia, and other regions, recently supplied jet fuel to Saudi Arabia. The refinery has confirmed it holds over 500 million litres of petrol in storage, enough to meet Nigeria’s petrol demand for several days. Additionally, the refining capacity of the 650,000 barrel per day refinery has surpassed Nigeria’s average daily requirement of 385,000 barrels.

BIG STORY

I’ve Fulfilled Tinubu’s Mandate, Says Ibas As Rivers Emergency Rule Nears Expiration

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Ibok-Ete Ibas, sole administrator of Rivers, says he has fulfilled President Bola Tinubu’s directive by restoring “full democratic governance” to the state ahead of the expiration of emergency rule.

Speaking at the government house in Port Harcourt on Friday during the presentation of the Rivers State Independent Electoral Commission (RSIEC) report on the recent local government elections, Ibas said the successful conduct of the polls marked the completion of his mandate.

“Mr. President’s mandate to me was clear: to stabilise the state, create an enabling environment for the re-establishment of its institutions, and return Rivers State back to full democratic governance,” Ibas said in a statement signed by Hector Igbikiowubo, his media aide.

“With the successful conduct and swearing-in of local government chairmen and their councils, I believe we have decisively achieved the mandate that we were given.”

On August 30, RSIEC conducted elections across the 23 LGAs of the state, with the All Progressives Congress (APC) winning 20 chairmanship seats, while the Peoples Democratic Party (PDP) secured three.

Mike Odey, RSIEC chairman, said the report presented to Ibas contained a full account of the exercise, including challenges faced and recommendations for future improvements. He commended Rivers residents for their peaceful participation.

President Tinubu had declared emergency rule in Rivers on March 18 following a political crisis that saw the suspension of Governor Siminalayi Fubara, his deputy, Ngozi Odu, and all members of the state assembly.

Ibas, a retired naval chief, was appointed sole administrator to steer the state during the interim period. The emergency rule is expected to lapse on Thursday, September 18.

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BIG STORY

Air Peace Crew Member Gives NSIB 72 Hours To Retract Drug Claim, Threatens Lawsuit

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An Air Peace cabin crew member has rejected the Nigerian Safety Investigation Bureau’s (NSIB) report alleging drug use among the airline’s staff, describing it as defamatory and giving the bureau 72 hours to retract its claim or face legal action.

On September 11, NSIB alleged that an Air Peace pilot and co-pilot tested positive for alcohol, while a cabin crew member tested positive for THC, the active ingredient in cannabis, following a runway excursion incident at Port Harcourt airport on July 13.

Victory Maduneme, an Air Peace crew member, said the allegations are false and damaging to her career. Speaking on Arise News Night, she recounted how NSIB officials collected her samples but delayed the release of results for 10 days.

“I sent a copy of my result to you; everything was clear,” Maduneme said. “If NSIB has a smearing campaign against the airline, they should keep the innocent people away from this. In the next 72 hours, if NSIB does not retract what they’ve said against me, I think we should sue. This is pure defamation of character.”

David Bernard, a co-pilot on the same flight, also dismissed the report, insisting he does not consume alcohol or drugs. He questioned the credibility of the process, arguing that NSIB used hospitals not recognised by aviation authorities and relied on delayed blood and urine tests instead of standard breathalyser checks.

Air Peace has also denied NSIB’s claims, noting that the bureau has yet to officially communicate its investigation findings.

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NUPRC Revokes Licence Of Oritsemeyin Rig

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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revoked the operating licence of Oritsemeyin Rig and directed it to cease all operations upon the completion of its current well operations.

The notice is contained in a letter dated September 11, 2025, addressed to Selective Marine Services Limited (SMSL) and signed by the Commission Chief Executive, Engineer Gbenga Komolafe.

The NUPRC said in a statement on Friday 12 September, 2025 that the decision followed a thorough review of the circumstances surrounding the drilling of UDIBE-2 wellbore during which a kick was recorded, resulting in several Non-Productive Time (NPT) with consequential cost and a forced well sidetrack.

A kick on an oil rig is the unwanted flow of formation fluids (oil, gas, or water) into the wellbore due to a temporary pressure imbalance, where the pressure inside the wellbore becomes lower than the formation pressure. This phenomenon, if left unmanaged, can lead to a potentially catastrophic uncontrolled release of fluids called a blowout.

Subsequently, the NUPRC in accordance with Section 97 of the Petroleum Industry Act 2021, issued a formal notice of culpability via a letter dated June 5, 2025 with a timeline of 21 days followed by a reminder dated July 9, 2025 to ensure an amicable resolution which was not achieved even beyond the stipulated time.

“Consequent upon the forgoing and pursuant to the relevant powers conferred on the commission under the extant Petroleum Industry Act 2021, the annual licence to operate granted to Selective Marine Services Limited for the Oritsemeyin Rig is hereby revoked,” the commission stated.

The upstream regulator also disqualified the Oritsemeyin Rig from all renewal protocols in strict compliance with the applicable provisions of the law forthwith.

The NUPRC noted that this action is in line with the Petroleum Industry Act, 2021 which empowers the commission to ensure compliance with good oilfield and international best industry practices, operational safety and optimization as well as promote technical excellence and preserve commercial and environmental sustainability.

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