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Marketers Predict Cheaper Petrol Nationwide As Dangote Begins Naira Sale

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Twenty-two days after pausing sales of petroleum products in naira, the Dangote Refinery has restarted the supply of refined products to its partners and marketers using the local currency.

The 650,000-barrel-per-day facility also notified customers and marketers of a cut in its loading cost, setting a new ex-gantry rate at N865 per litre—a change likely to ease fuel price pressures nationwide.

This new rate represents a N15 decrease from the N880 per litre sold just the previous day.

According to our correspondent, the refinery issued a notification to its customers on Thursday morning.

A Pro forma invoice viewed by our reporter, along with verification on petroleumprice.ng, confirmed the update.

The notice to marketers stated that petrol would now sell at N865 per litre, inclusive of charges from the Nigerian Midstream and Downstream Petroleum Regulatory Authority.

It also noted that other refined products remain priced in US dollars, and that sales of PMS via coastal vessels are still suspended.

The statement read: “Good morning. Our updated prices for 10.04.25 are: PMS Gantry: 865 in Naira for gantry (inclusive of NMDPRA), PMS coastal: On hold

“AGO Gantry: $579.00 + $77, AGO Coastal: $579.00 + $8, ATK Gantry: $622.25 + $42, ATK Coastal: $622.25 + $22 and LPG Coastal: On hold.”

Previously, marketers told our correspondent that the refinery was likely to reduce petrol loading costs by the end of the week, aiding a drop in retail prices.

Chinedu Ukadike, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, reaffirmed the anticipated price reduction while reacting to the Federal Executive Council’s directive on the “naira-for-crude” initiative.

On Wednesday, the Federal Executive Council gave a go-ahead for full implementation of the previously suspended “Naira-for-Crude” deal with domestic refiners.

The council emphasized that the initiative is not a temporary solution but a “key policy directive designed to support sustainable local refining.”

This was revealed in a statement from the Ministry of Finance, posted on its official X account and titled: “Update on the Crude and Refined Product Sales in Naira Initiative.” The release followed a meeting on Tuesday between Finance Minister Wale Edun and Dangote Refinery representatives to assess progress and address ongoing concerns.

The committee stated that the policy is a long-term strategy to reduce Nigeria’s dependency on foreign exchange for petroleum needs.

It emphasized again that this initiative is a “key policy directive designed to support sustainable local refining and bolster energy security.”

According to the statement: “The Technical Sub-Committee on the Crude and Refined Product Sales in Naira initiative convened an update meeting on Tuesday to review progress and address ongoing implementation matters.

“The stakeholders reaffirmed the government’s continued commitment to the full implementation of this strategic initiative, as directed by the Federal Executive Council.

“Thus, the Crude and Refined Product Sales in Naira initiative is not a temporary or time-bound intervention, but a key policy directive designed to support sustainable local refining, bolster energy security, and reduce reliance on foreign exchange in the domestic petroleum market.”

The “naira-for-crude” policy, which mandates that both crude oil and refined petroleum products be traded in local currency, aims to strengthen economic autonomy, enhance refining capacity, and stabilize forex markets by reducing dollar demand for petroleum trade.

The ministry also described the policy as one that encourages energy security and boosts investment in local refining.

Though the shift is complex, the government acknowledged that any issues encountered are being systematically addressed.

“As with any major policy shift, the committee acknowledges that implementation challenges may arise from time to time.

“However, such issues are being actively addressed through coordinated efforts among all parties. The initiative remains in effect and will continue for as long as it aligns with the public interest and supports national economic objectives,” the statement added.

With this development, filling stations such as MRS Oil & Gas, Ardova Plc, Heyden, and others that have special agreements with Dangote Refinery are expected to adjust their pump prices to around N910, reflecting the change in ex-depot pricing.

However, the refinery’s market-based pricing adjustment has received mixed reactions. While many Nigerians welcome the reduced fuel cost, some marketers are concerned about potential financial losses.

Sources told our correspondent that MRS lifted 90,000 metric tonnes (approximately 120 million litres) of PMS on Tuesday at the previous N880 rate.

With the updated pricing, marketers like MRS may now have to sell at a loss, raising worries about profitability in the downstream sector.

Ukadike commented: “We are relieved, although it’s a mixed one. Some of us who bought and haven’t exhausted our stock are now selling at a loss—it’s a huge loss. The new price will help us buy more and sell faster, but we still have mixed feelings about it.”

IPMAN’s Vice President, Hammed Fashola, also welcomed the development:

“It is a good development; it is what we have been telling the government that it should be sustained because it would bring a lot of benefits and make the price stable. Once that happens, the price of fuel will come down, and this is good for Nigeria.”

He added that the recent price spike was a result of the earlier suspension of the policy.

“Now that the naira policy has been restored, we expect a reverse in the price,” he said.

Oil and gas analyst Olatide Jeremiah believes the move has intensified market competition:

“Dangote Refinery’s resuming sales of petrol in Naira has reactivated healthy competition, and the result will drive down fuel prices.

“As FG reaffirms the naira for crude policy to local refineries, private depots will need to be competitive to remain in business, they have been showing competitive strength lately with their pricing. Though according to Tanker Reports, we have been seeing massive inflows of tanker vessel loading from Dangote refinery, that’s commendable.

“The crude oil crash, coupled with the naira for crude policy renewal, just offers Nigerians another chance to buy affordable fuel at the pump, if only the retail outlets are regulated not to overprice for abnormal profits.”

Efforts to reach Anthony Chiejina, Chief of Corporate Communications for the Dangote Group, for an official statement were unsuccessful as of 7:14 pm when this report was filed.

 

Credit: The Punch

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No Effective Governance Without Full Local Government Autonomy — Femi Gbajabiamila

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The Chief of Staff to President Bola Tinubu, Femi Gbajabiamila, has stated that governance at the local government level cannot be effective without complete autonomy.

He made the remark while addressing journalists after voting in the Lagos State local government elections in Surulere on Saturday.

When asked about the progress of implementing the LG autonomy ruling by the Supreme Court one year after it was delivered, Gbajabiamila described the process as ongoing and said it would be completed with time.

Gbajabiamila said, “The ruling was welcome by everybody. It’s the execution of that ruling and the implementation of that ruling that we are still trying to dot the Is and cross the Ts.

“I believe in a matter of time, we will realise full autonomy. There cannot be effective governance without full autonomy. That’s what we are working toward.”

In July 2024, the Supreme Court granted autonomy to all 774 local government areas across the country following a case filed by the federal government through the Minister of Justice and Attorney General of the Federation. However, the ruling is yet to be fully implemented.

Following the judgement, the Senate urged state and local governments to immediately adhere to the court’s directive, especially regarding local government accounts and direct fund disbursements.

The Senate also moved to amend relevant sections of the Constitution to ensure full local government autonomy nationwide.

The announcement was made by Deputy Senate President Senator Jibrin Barau, after lawmakers emerged from a closed-door session where they discussed alleged efforts by some state governments to bypass the Supreme Court’s ruling on July 11.

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DETAILED: Coroner Orders Prosecution Of Auxiliary Nurse Over Mohbad’s Death, Probe Into Police Inaction

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The Lagos State Coroner’s Court in Ikorodu has instructed the Director of Public Prosecutions to initiate legal action against Feyisayo Ogedengbe, the auxiliary nurse who gave the injection allegedly linked to the death of Nigerian artist Ilerioluwa Aloba, popularly known as Mohbad.

In her ruling delivered on Friday, Magistrate C.A. Shotobi stated that Ms Ogedengbe was not a registered nurse or licensed medical professional, and therefore acted outside the law by administering a tetanus injection that reportedly led to complications resulting in the singer’s death.

“This is not a case of foul play but one of medical negligence,” Magistrate Shotobi said. “While I cannot certify a definitive cause of death, I draw a link from the sudden reaction after the deceased was injected by the nurse.”

She further raised alarm about lapses in healthcare regulations, highlighting how unqualified individuals are allowed to operate as health practitioners.

In a related directive, the court ordered an inquiry into the failure of the Nigeria Police Force to act on a petition filed by the late singer before his death, asking relevant authorities to determine if negligence occurred.

Family members and their legal team—Wahab Shittu, a Senior Advocate of Nigeria, along with Kabir Akingbola and Abiola Kolawole from the African Women Lawyers Association—were in attendance when the ruling was delivered.

Testimonies and autopsy reports

According to the Coroner, 19 individuals, including relatives, doctors, and police personnel, provided testimony during the inquiry.

Based on the evidence of two independent pathologists who conducted separate autopsies, the court observed that the advanced state of decomposition of Mohbad’s body made it difficult to confirm an exact cause of death.

However, both experts agreed that a severe anaphylactic reaction to the tetanus shot was the most probable cause.

“The death is not linked to any evidence of foul play, but to medical negligence,” Magistrate Shotobi reaffirmed.

Criticisms of family and law enforcement

The court found no direct connection between Mohbad’s passing and the alleged harassment by his former label boss Azeez Fashola, known as Naira Marley, and associate Samson Eletu, also called Sam Larry, despite evidence of continued intimidation.

Nevertheless, the court condemned the manner of the singer’s burial, referring to it as “undignified.”

It criticised Joseph Aloba, the singer’s father, for not obtaining a death certificate or requesting an autopsy prior to the burial, despite receiving N2 million from fellow artist David Adeleke (Davido) to facilitate a proper funeral.

Omowunmi, Mohbad’s wife, was also faulted for failing to seek timely professional medical care for the singer over a 15-hour period and not adequately documenting the circumstances surrounding his death.

“She had a duty of care to her husband which was not sufficiently discharged,” the court said.

The court also condemned the police for ignoring the singer’s petition before his death, which included claims of assault and threats to life.

Describing the situation as “dereliction of duty,” the court ordered the immediate reopening of the case and instructed the police to question all individuals mentioned in the petition, including Naira Marley and Sam Larry.

Systemic breakdowns and court recommendations

Magistrate Shotobi noted that the circumstances surrounding Mohbad’s death exposed “systemic collapse” across multiple sectors such as family, healthcare, law enforcement, and the entertainment industry.

She called for the prosecution of Ms Ogedengbe on charges of gross medical negligence and urged that Mohbad be reburied in compliance with public health and legal standards.

She also demanded a formal investigation into police inaction regarding the deceased’s petition and advocated for legislative reforms to tackle bullying and abuse in the entertainment sector.

The court recommended a ban on intravenous medication by unlicensed individuals and emphasized that all sudden deaths involving young, seemingly healthy people must be investigated before burial.

Traditional funeral rites, the court warned, must not override statutory procedures in suspicious or abrupt death cases.

She also cautioned online content creators and influencers that disseminating falsehoods about court proceedings could be classified as obstruction of justice under Nigeria’s Cybercrimes Act.

Public reaction

The legal team representing Mohbad’s family praised the decision as a significant ruling.

Speaking to journalists, Mr Shittu, counsel to the singer’s father, described the court’s findings as “unprecedented jurisprudence” and “a PhD thesis in justice.”

“The ruling analysed the testimony of 19 witnesses. It revealed patterns: Mohbad felt unsafe, was harassed, and lacked institutional protection,” he said.

He added that the rushed burial compromised a thorough forensic investigation. “While Islamic law encourages swift burial, public interest in this case should have prevailed.”

Mr Shittu also reiterated the court’s position that police should act immediately on the singer’s petition, stating, “This is not a flawed investigation—it was never properly conducted in the first place.”

Kabir Akingbola, who represented Mohbad’s wife, cited cultural and emotional limitations. “Yoruba customs limit a wife’s power to challenge a father-in-law. Even if she wanted to intervene, grief and tradition may have silenced her,” he explained.

Background

Mohbad passed away on 12 September 2023 at age 26 and was buried the next day, sparking public outrage and widespread demonstrations.

Following public pressure, the Lagos State Police Command launched a 13-member investigation team on 18 September. His body was exhumed on 21 September for autopsy.

In April 2024, a second autopsy was ordered after the initial toxicology results were deemed inconclusive. US-based NMS Labs, allegedly contracted for testing, later denied receiving any related sample.

Summons were issued to key individuals including Naira Marley, Sam Larry, the nurse, and Mohbad’s wife. In March 2025, calls were made for Magistrate Shotobi to step aside from the case over alleged bias, but she continued until the final ruling.

 

Credit: Premium Times

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Jitters In Osun APC, PDP Over Adeleke’s Defection Plan

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Panic has gripped both the Peoples Democratic Party and the All Progressives Congress in Osun State amid reports that Governor Ademola Adeleke may be planning to leave the PDP for the APC.

According to findings by The Punch, several close associates and appointees of the governor confirmed that Adeleke is close to finalising the defection.

The development has unsettled the APC, prompting a protest against Adeleke on Friday. However, in a statement by his spokesperson, Olawale Rasheed, the governor denied having any such intention.

Speculation about Adeleke’s defection began in June after he paid a visit to President Bola Tinubu at his Bourdillon residence in Lagos.

The governor was accompanied by his brother, billionaire businessman Adedeji Adeleke, and his nephew, Afrobeats artist David Adeleke, also known as Davido.

News of the visit was made public in a post on X by Tinubu’s Special Assistant on Social Media, Dada Olusegun.

Although the purpose of the meeting was not disclosed, the release of photos showing Tinubu and his wife in a warm exchange with the Adelekes triggered tension in both the Osun PDP and APC camps.

The rumour gained renewed attention this week following a series of cryptic posts by some of Adeleke’s aides on social media.

Close associates confirm move, APC ticket offer

Insiders in the governor’s cabinet, including a commissioner and two special advisers, told our correspondents that Adeleke had concluded plans to join the APC.

The commissioner, who spoke on condition of anonymity due to the sensitivity of the matter, said Adeleke had briefed some of his allies in his cabinet and the House of Assembly about his defection plan.

“Mr Governor will join the APC, but the official declaration will not be now. His planned defection is a result of political threats, the Federal Government withheld local government funds, and there are emerging threats to the businesses of his billionaire brother, Dr Deji Adeleke. So, there are many things at stake,” he said.

A senior official of the APC in the state also confirmed that the governor was consulting with APC leaders, but said his fate hangs on Tinubu’s move.

“Adeleke has been consulting many APC leaders. He has employed some mercenaries to lobby the President. But Baba Bisi Akande and Oyetola have not consented to his defection. The President will need to convince them before the governor will declare his defection,” the APC official said on Thursday.

In a symbolic move, the Osun PDP Director of Media and Information, Oladele Bamiji, who is also a Senior Special Assistant to Adeleke, posted “On Your Mandate!” on his Facebook timeline around 5 pm on Thursday.

The slogan is synonymous with Tinubu, having originated from his loyalists in Lagos State.

Bamiji’s post triggered reactions from other Facebook users, including APC members kicking against the move.

One of the governor’s special advisers, who also spoke on condition of anonymity due to the sensitivity of the matter, said the governor’s apparent uncertainty over the validity of his second-term ticket in the face of the PDP crisis might have triggered his proposed defection.

“INEC has released the timetable for the 2026 governorship election, and the PDP primary is coming up in September. Who is going to sign Adeleke’s nomination form amid the ongoing crisis in the PDP?

“We are all afraid that whatever happens in the PDP regarding the Osun election may be subject to litigation, which may invalidate the governor’s nomination and victory. That is why the governor wants to leave,” the aide said.

Also subtly confirming the move, another SSA to Adeleke, Olalekan Badmus, tweeted on his X handle on Friday: “After we all agreed to this, the next question is where?

“Governor Adeleke is currently consulting and evaluating all options on the table, including the peculiarities of all current political parties. Reports of imminent arrival at a particular party are at best speculative.”

Amid growing confirmation from the governor’s close associates, The Punch gathered that Tinubu’s Chief of Staff, Femi Gbajabiamila, and members of the President’s immediate family reportedly facilitated Adeleke’s move to the APC.

Adeleke remains in PDP – Spokesman

Reacting to the defection rumour, the spokesperson for the Osun State Government, Rasheed, said Adeleke remained in the PDP and was not considering joining the APC.

In a statement on Thursday, Rasheed quoted Adeleke as saying, “I assure the good people of Osun that I remain part and parcel of the PDP family. I am not defecting to any party.”

He said the governor reaffirmed his commitment to the implementation of his administration’s five-point agenda and urged the public to disregard what he described as “fake news,” while assuring continued delivery of good governance and democratic dividends.

Also reacting, the National Secretary of the APC, Ajibola Basiru, said the party’s national secretariat was unaware of any defection plan by the Osun governor.

In an interview (with Saturday Punch), Basiru said, “The only thing I can say is that I’m not aware of Adeleke’s so-called planned defection as the National Secretary of the party. All other things are hypothetical for now. I cannot be reacting based on social media frenzy!”

Similarly, the spokesperson for the Osun APC, Kola Olabisi, said the party leadership in the state had no knowledge of any move by Adeleke to join their ranks.

“It is still in the realm of speculation. The leadership of the APC in Osun, led by Sooko Tajudeen Lawal, is not aware of the governor’s defection plan,” he said.

When asked whether the party would welcome Adeleke, Olabisi replied, “Only the leadership of the party will speak on that.”

Panic in APC, PDP camps

Despite official denials, there is palpable tension among members of both the APC and PDP in Osun State.

It was gathered that the development has unsettled many APC members, particularly loyalists of former Governor Gboyega Oyetola, who fear that Adeleke’s entry into the APC could jeopardise the chances of their governorship aspirant, Bola Oyebamiji.

On the PDP side, some members have also expressed concern that the party may suffer significant setbacks if Adeleke defects, as the Adeleke dynasty is regarded as the party’s primary financier in Osun State.

It was noted that several APC members took to social media, especially Facebook, to express displeasure over the alleged plan.

A former Special Adviser to ex-Governor Oyetola on Education, Alhaji Jamiu Olawumi, wrote on his Facebook timeline on Thursday, “The Adeleke Challenge! If, as a governor, you have delivered, is it not shameful trying to run away from your own party?”

Another Oyetola loyalist, Adedeji Adebayo, also took to Facebook to criticise APC National Secretary, Basiru, for saying that President Tinubu would determine the APC’s governorship candidate in 2027, rather than speaking out against Adeleke’s rumoured defection.

He wrote, “The Adelekes’ agents in the APC are celebrating, granting media interviews about the phantom defection of the so-called ‘omo-gba-feeder’. Yes, the same omo-gba-feeder. They don’t care if it goes to a dullard since it’s not coming to them. That is the kind of wanton politics they play. Meanwhile, it is what it is: phantom defection. If Obente defects to APC, perhaps it is the APC AISU Chapter.”

‘No automatic ticket for gov’

On Friday, some Osun APC members staged a peaceful protest at the party’s state secretariat in Osogbo, insisting that if Adeleke defects, he should not be given an automatic governorship ticket.

Led by a member of the APC, Taofeek Afolabi, the protesters, mostly youths, said it would be unfair to hand the incumbent governor the party’s ticket without a contest.

“We are members of the All Progressives Congress, and we are here this morning to register our concern over the rumoured defection of Governor Ademola Adeleke to the APC. We are not saying he should not join our party. Adeleke joining the APC will boost our party. He is the current governor, and having him with us will strengthen the party,” Afolabi said.

“However, what we don’t want is the party giving Governor Adeleke an automatic ticket. If he wants to re-contest, he should express interest and contest the gubernatorial ticket with other aspirants.

“There are people who have shown interest in the race already, and we don’t want him to be handed the ticket without a proper contest. That is the only thing we are against. We have no issue with him joining our party,” he added.

PDP, APC chieftains divided

Saturday PUNCH gathered that members of both the PDP and APC remain divided over the governor’s reported defection plan.

While a section of the PDP reportedly supports the move, others have rejected it, insisting they would not follow the governor into another party.

A former Deputy National Publicity Secretary of the PDP, Diran Odeyemi, said realignment was part of politics and that there was nothing wrong with adjusting strategies to win elections.

“Politics is dynamic. It’s not like mathematics, where you get a fixed answer to an equation. It’s about permutation here and there. It’s a game that is played according to situations and circumstances, but with the sole purpose of winning,” Odeyemi said.

“Realignment is key in politics, more so because it is a game of interest. There is nothing wrong with redefining a strategy if it is aimed at winning any contest. As for us in the PDP, Governor Ademola Adeleke’s second term is sacrosanct; the way and manner to go about it is secondary.”

Meanwhile, a chieftain of the APC in Osun and an aide to ex-Governor Oyetola, Jamiu Olawumi, maintained that while party membership is a right, acceptance is not automatic.

“Politics and joining a political party are fundamental human rights. Joining a party is a free entry and free exit. However, in some situations, you cannot just join a political party because there are certain criteria for fresh members. If you’re not fit for it, we might not welcome your overtures,” he said.

Olawumi also dismissed the defection report as speculation.

“The highest hierarchy of the party has not spoken about the defection. Everybody is just reacting to rumours — we’ve had both confirmations and denials. This shouldn’t be given serious attention by serious people. In the APC, we are serious people, and we don’t dwell on this kind of unserious speculation. Let it remain in the realm of rumour,” he added.

We’re not worried—APC aspirants

Some governorship hopefuls in the Osun APC has said the defection rumour is not giving them sleepless nights.

One of them, Dotun Babayemi, said the development did not come as a surprise and would not affect his ambition.

Speaking through his spokesperson, Kayode Oladeji, Babayemi stated that Adeleke’s defection would, in fact, be an addition to the APC.

“We are not worried about Governor Ademola Adeleke or anybody coming into our great party, APC. We all know that democracy is a game of numbers. This means it is becoming clear that our party is poised to win in 2026, and President Tinubu’s victory in the 2027 elections shall be resounding,” he said.

“In the same vein, his joining our party cannot jeopardise my chances. My confidence is based on the amazing support and love being shown to me within and outside the APC, across the state, by both the old and the young.

“As to whether it is right for the governor to dump the PDP for the APC, I am not sure that is the real question — because we don’t know what is chasing him from the PDP,” he added.

Similarly, another governorship hopeful, Akin Ogunbiyi, said he was not surprised by Adeleke’s reported defection plan, declaring that the party would win the next governorship election in the state.

“I am not worried that the current governor is struggling to come to the APC. He is a serving governor, and he can come to the APC. Our party is a winning team, and we can all see what is happening at the federal level — what our father, the President, is doing.

“So, I am not surprised that not only in Osun State, but even across other states, people are declaring for the APC because it is a progressive party,” Ogunbiyi said.

PDP senators to dump party

Meanwhile, Saturday PUNCH has gathered that two PDP senators from Osun State, Adenigba Fadahunsi (Osun East) and Olubiyi Ajagunla (Osun Central), have concluded plans to leave the party.

According to aides, both lawmakers met with President Bola Tinubu at the Aso Rock Villa about a month ago, where the decision regarding their defection was finalised.

One of Ajagunla’s top aides, who spoke on condition of anonymity, said, “Ajagunla will leave the PDP soon, there is no doubt about that. The Adeleke dynasty is not treating him well, and our town, Ila-Orangun, has not benefited from the current administration in terms of infrastructure development.

“People know that Ajagunla has left the PDP; he just hasn’t announced his defection officially,” the aide said.

 

Credit: The Punch

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