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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

Aare Bisoye Fagade Pays Tribute To Late Olubadan

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With deep sorrow and solemn reverence, I, Aare (Dr.) Abisoye Fagade, the Aare Asojuoba of Ibadanland, join the Olubadan-in-Council, the people of Ibadanland, and the entire Yoruba nation in mourning the passing of our highly esteemed monarch, His Imperial Majesty, Oba Owolabi Olakulehin, the Olubadan of Ibadanland.

Kabiyesi answered the call of his ancestors barely a year after ascending the revered throne, leaving behind a legacy of peace, quiet strength, and decades of meritorious service to our traditional system. His reign, though short, was a symbol of continuity, tradition, and grace. He brought calm to the kingdom and bore the crown with dignity, humility, and honour.

This loss is also personal to me. Nearly twenty years after the passing of my late father, Elder David Oladokun Fagade, who shared a deep and brotherly bond with Kabiyesi, I find myself once again reflecting on the values they both upheld: integrity, loyalty to Ibadan, and unshakable devotion to the Yoruba heritage. The Olubadan was not only a king; he was family, a father figure, and a respected elder whose counsel and presence meant so much to many of us.

As we mourn his passing, we also look to the future with hope and trust in the well-structured traditional succession system that has long been the pride of Ibadan. In accordance with custom and seniority, the next Olubadan is expected to emerge from the Balogun line, with Oba Rashidi Ladoja, former governor and a respected High Chief, as the most senior in line. We await the formal processes and pronouncements of the Olubadan-in-Council.

May the soul of His Imperial Majesty find eternal rest among the ancestors, and may Ibadanland continue to flourish under divine guidance and cultural unity.

O digba, Kabiyesi. Ibadanland salutes you.

Signed,
Aare (Dr.) Abisoye Fagade fimc
Aare Asojuoba of Ibadanland
7th July 2025

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BIG STORY

President Tinubu Demands Equity For Developing Nations At 17th BRICS Meeting

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President Bola Tinubu says there must be equity and inclusion for low-income and emerging economies in global systems. Tinubu explained that these measures should extend across governance, finance, healthcare, and climate change issues.

The president made these remarks at the 17th BRICS meeting on Saturday in Rio de Janeiro, Brazil.

Nigeria became a partner country to the bloc in January.

According to a statement on Sunday by Bayo Onanuga, special adviser to the president on information and strategy, Tinubu highlighted that environmental degradation, the climate crisis, and healthcare inequalities deserve more focus, as they slow development and growth.

“Africa has contributed the least to global emissions but suffers the most,” he added.

Tinubu emphasized the importance of a new path of justice, anchored on fairness, sustainable technology transfer, and accessible financing, to help emerging economies fully benefit from various initiatives.

“The African continent is creating the path through the African Carbon Market Initiative and the Great Green Wall. We believe that COP-30 will strengthen our resolve to adopt a strategic approach to achieving a healthy global environment,” the president said.

“Nigeria strongly believes in South-South cooperation. We can, therefore, not be passive participants in global decision-making on financial restructuring, debt forgiveness, climate change, environmental issues, and healthcare.

“We must be the architects of a future that addresses the specific needs and concerns of youths, who represent 70 per cent of our population in Nigeria. Therefore, Nigeria remains guided by our long-term vision, 2050, and nationally determined contribution.

“We are taking bold steps to accelerate renewable energy adoption, mainstream climate action, promote nature-based solutions, strengthen urban resilience, champion South-South cooperation, align with the global renewal framework and achieve universal health coverage for all.

“As we approach COP-30 and look to strengthen the global health system, we believe the BRICS must not only be a bloc for emerging economies but also a beacon for emerging solutions and resolutions rooted in solidarity, self-reliance, sustainability, and shared prosperity of a common future.”

Tinubu reiterated Nigeria’s commitment to strategic collaboration that results in sustainable and inclusive development.

Yusuf Tuggar, minister of foreign affairs, and Wale Edun, minister of finance, accompanied the president to the summit.

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BIG STORY

I’m Going To Contest For President In 2027 — Peter Obi

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Opposition leader Peter Obi has declared he will run for president in 2027, rejecting claims that he might serve as running mate to Atiku Abubakar of the Peoples Democratic Party.

“I’m going to contest for the President of the Federal Republic of Nigeria, and I believe I am qualified for it,” Obi, the Labour Party’s 2023 presidential flagbearer, said during the Sunday Politics programme.

When asked if he was considering being Atiku’s running mate in 2027, Obi responded, “This is not in play; nobody has ever discussed that. People assume so many things. Nobody has ever discussed with me whether I am going to be A or B or C.”

The former governor of Anambra State emphasized that he remains a strong member of the Labour Party, though he is actively involved in the African Democratic Congress coalition formed by opposition groups to defeat President Bola Tinubu of the All Progressives Congress, who is seeking a second term in 2027.

“I am part of the coalition which will be able to produce a president with the capacity and compassion to save this country,” he said.

‘Just Four Years’

Obi explained that he would need no more than four years to provide effective leadership for Nigerians.

“I don’t need a day more than four years. I will show the direction of good governance,” Obi insisted, making it clear that he will run for president in 2027 rather than as a deputy to any other politician.

“In two years, there has been maximum damage. Two years can change it in a good direction. People want to get up and see a president that cares, that shows compassion,” he added.

On July 2, 2025, an inter-party coalition including Atiku Abubakar, Obi, ex-Senate President David Mark, former minister Rauf Aregbesola, former minister Rotimi Amaechi, ex-Kaduna governor Nasir El-Rufai and others, adopted the ADC as the joint opposition platform to challenge Tinubu, whose government has faced accusations of economic mismanagement, historic inflation, and unprecedented hardship.

The coalition is relying on the voting numbers Obi and Atiku achieved in 2023. Atiku of the PDP and Obi of the Labour Party came second and third respectively, with a combined tally exceeding 12 million votes, over four million more than Tinubu’s total as announced by INEC.

Reacting to criticism that the ADC coalition consists of spent politicians who once held power, Obi argued:

“In fact, even some who have been in that government, their experience is critical.

“I can tell you one of the major companies in the world hired two people who have worked in failed companies because they can tell you why they failed.

“You need the experience of those who have failed and those who have succeeded to move on, and I need everyone. It is a critical experience because they know what can fail a system and they know what was wrong with the system,” he explained.

‘No Anti-Party Activity’

Obi further maintained that he is still a member of the Labour Party despite being active within the ADC coalition, stressing that his participation is not “anti-party”.

“No, there is no anti-party. Remember, we said for 2027. We are not in 2027; we are in 2025. It’s clear. We’ve adopted it for 2027. So, if I say I am going to be part of your dinner in the evening, that doesn’t mean I should abandon my breakfast and lunch.”

“The coalition just adopted a party for 2027. So, we are trying to work together for the sake of Nigeria.

“Today, I am a Labour Party member. I remain in the Labour Party. But we have all agreed to work as a coalition for the 2027 election, and for that, we’ve adopted ADC. Going on, other parties, other individuals will also come in.

“We want better governance for this country. We want to see a more competent government with capacity and character.

“This coalition might have other parties as it happened in the past, and change the name of the party.

“I am a member of this (Labour Party) and I am going to work with this group,” he concluded.

 

Credit: Channels TV

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