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Marketers Project N600/litre For Dangote Petrol

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Independent petroleum marketers in Nigeria are hoping that the Dangote Petroleum Refinery will sell its Premium Motor Spirit, popularly called petrol, at N600 or N650/litre when it is finally released into the market.

Dealers under the aegis of the Independent Petroleum Marketers Association of Nigeria said they believe that the Dangote refinery would crash the price of petrol as it did with diesel.

IPMAN National Vice President, Hammed Fashola, told our correspondent in an interview on Monday that the $20bn refinery would bring down the cost of fuel if it gets the needed support, especially as it has to do with crude supply.

According to him, the Nigerian National Petroleum Company Limited, which is the sole importer of PMS has been selling to marketers at N570/litre, but most IPMAN members buy from private depot owners at N700 and above.

“We are marketers, we go for the best. We have been buying from the NNPC, but if the opportunity of Dangote comes and the price is favourable, we will grab it. It depends on the price.

“The official price from the NNPC is around N570/litre, but the third parties, the private depots sell PMS to most of our members at N700 and above.

“Plus or minus, we hope Dangote can sell between N600 and N650/litre. N600 is still okay. However, it depends on the cost of the production from Dangote’s end. We have to be factual and sincere to ourselves. The NNPC we are talking about has an element of subsidy or what they now call under-recovery. I think something is hidden there,” Fashola stated.

Speaking about diesel price, Fashola recalled, “We know Dangote refinery crashed the price of diesel. When the refinery started producing, diesel was around N1,600 and it went down to N1,000.

“Now you can buy diesel at N1,150 or N1,200/litre. We expect the same with PMS, but this crude crisis is a major challenge. Even if Dangote is buying crude in naira, if it is at the international market price, it will make no difference. We have to be realistic.”

The IPMAN leader said the association has had business discussions with some officials of the refinery on a possible partnership, saying the marketers are waiting for Dangote.

“The discussion continues. We are on course. I think very soon we will conclude the discussion. We are waiting,” he stated.

Recall that the President of the Dangote Group, Alhaji Aliko Dangote, had last month projected that the refinery would begin petrol production between August 10 and 12, 2024.

However, the 650,000 barrels per day capacity refinery could not roll out petrol on Monday for different reasons.

Findings showed that the ongoing crude supply crisis might be a setback to the refinery.

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UPDATE: King Sunny Ade Speaks About His Alleged Kidnap In New Video [WATCH]

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Following claims of his alleged “abduction,” Nigerian music legend, King Sunny Ade, has addressed concerns about his whereabouts.

A Nigerian journalist, Olawale Olaleye, had yesterday raised alarm over the disappearance of the music icon.

He further disclosed how a lady identified as Damilola Adeniyi, who claimed to be Sunny Ade’s daughter, had accused the musician’s manager and son, Dayo Adegeye, of “abducting their father and forcing him to work under duress.”

Adeniyi had, in a series of posts on her Instagram handle, accused Dayo, her half-brother, and his siblings, of “using Sunny Ade to get shows which he never attended.”

Reacting to the allegation, Dayo had, in a statement issued on Monday evening, denied the allegation, claiming that “Sunny Ade is safe and in good condition.”

Adegeye reiterated that the musician “was not abducted by anyone,” stressing that his band are working with the family to “put an end to the rumour and protect his reputation.”

Sunny Ade would thereafter appear in a now viral video to confirm his safety and well-being.

As captured in the short video shared on Facebook by Olaleye, the musician was seen singing one of his songs in Yoruba, “ènìyàn laso mi,” before expressing his gratitude to Nigerians for their concern over his whereabouts.

“Glory be to Almighty Father in heaven. I thank God and you my fans all over the world. It’s my children that insisted on seeing me. I thank God within the period I went to relax. I wasn’t kidnapped and also did not run away.

“I have to thank you my fans. Since six to seven hours up till now, the whole world have been calling me out of love.

“This is the beginning. I’m on my way to a show now. I was at a show last Saturday at Lekki. I wonder why people say I’ve been kidnapped. I was never kidnapped.

“To great Nigerians, thank you. Beginning from the President of the great nation Nigeria.” Sunny Ade said in the video.

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Troops Rescue NDLEA Deputy Commander, Five Kidnap Victims In Taraba [PHOTOS]

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The Nigerian Army has announced the rescue of a senior officer from the National Drug Law Enforcement Agency (NDLEA) and five other individuals who had been kidnapped in Taraba State.

The army stated that this rescue operation was conducted in collaboration with other relevant security agencies.

According to Zagazola Makama, a publication focused on counter-insurgency in the Lake Chad region, the rescue followed a distress call received around 11:40 pm on April 27 from Abe Samuel, a youth leader, who reported an attack on a Toyota Hilux vehicle along the Wukari–Kente road.

Troops deployed to the location discovered the abandoned vehicle, identified by registration number FG 117-B03, with a flat tire, but the occupants were missing.

Makama reported that a joint search and rescue operation was immediately initiated, and by 6:00 am on April 28, the troops successfully rescued Musa Hudu, the deputy commander of NDLEA Zone 1, Ibadan, along with five other victims, from a nearby bush.

Makama added that the rescued individuals were unharmed, and initial investigations revealed that they had fled into the bush after three armed men attacked their vehicle and fired at them with a locally made gun.

The victims were safely escorted out of the area and were allowed to continue their journey after their vehicle was repaired.

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Federal Government Plans Five-Month Wage Award Arrears Payment

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The Federal Government has announced its plans to begin the payment of the outstanding “N35,000 wage award arrears” owed to federal civil servants.

This information was disclosed in a statement released by the Office of the Accountant-General of the Federation (OAGF) on Monday in Abuja.

According to a statement signed by the Director of Press and Public Relations, Bawa Mokwa, the outstanding arrears will be paid in instalments, with workers set to receive “N35,000 per month for five months.”

The OAGF clarified that although the “April 2025 salary would be paid separately,” the first part of the wage award arrears would be released immediately after the April salary payment.

“The wage award arrears would not be paid with the April 2025 salary; it will come immediately after the salary is paid,” the statement read.

The Federal Government had previously disbursed wage awards to federal workers for five months as part of efforts to lessen the impact of economic reforms. However, “five months’ arrears remained unpaid.”

The OAGF restated the government’s commitment to fully implementing all policies and agreements related to staff pay and welfare, noting that such efforts were aimed at improving productivity and operational efficiency across ministries, departments, and agencies.

The “N35,000 wage award” was introduced in 2023 as a support measure for workers following the removal of the petrol subsidy and other economic adjustments.

Earlier in January of this year, the Federal Government assured workers that it would clear the arrears of the “N35,000 wage award,” and also stated that the government had resumed the payment of the wage award.

The government also reaffirmed its commitment to addressing issues in the National Minimum Wage agreement reached with the Organised Labour in 2023.

The Minister of Labour and Employment, Nkeiruka Onyejeocha, disclosed the government’s commitment towards implementing agreements with trade unions during separate meetings with the leadership of the Trade Union Congress and Congress of University Academics, in Abuja.

Earlier this month, the Nigeria Labour Congress criticized the Federal Government over the delay in the payment of the minimum wage for certain workers in the federal civil service.

The Federal Government had earlier blamed the delay in payment on the prolonged approval of the “2025 budget.”

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