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Oil Marketers Kick Against N5 Reduction In Petrol Pump Price, Says N162 Not Possible

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Against the backdrop of the N5 reduction in the price of Premium Motor Spirit (petrol) announced by the Federal Government, fuel marketers have said it is not possible to sell the product at N162 per litre amid the current market realities.

The Minister of Labour and Employment, Dr Chris Ngige, had announced the petrol price cut at the end of a meeting with labour leaders which began around 9 pm on Monday and ended at 1:30 am on Tuesday.

“Our discussion was fruitful and the Nigerian National Petroleum Corporation, which is the major importer and marketers of petroleum products, and customers have agreed that there will be a slide down of the pump price of PMS and that the price cut will get us about N5 per litre and that the price cut will take effect from next Monday, a week today,” he had said.

Top officials of the marketers’ associations who spoke with our correspondents on Tuesday said the price decrease had not been communicated to them, adding that they only read media reports that the government had reached an agreement with the organised labour to reduce petrol price by about N5 per litre.

The National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr Mike Osatuyi, told one of our correspondents that given the recent increase in global oil prices and the devaluation of the naira, “petrol price of N162 cannot work, except we are going back to the subsidy.”

He said, “The government said it had deregulated; so, it is not possible to sell petrol at N162 on December 14. If you ask anybody now in the industry, they will tell you the price at which they can sell is about N170 to N180.

“The minister of labour does not have the power to determine the price of petrol. Even the President can only do that if we go back to the subsidy.”

The National President, Petroleum Products Retail Outlets Owners Association of Nigeria, Dr Billy Gillis-Harry, said the interference by government in petrol pricing had continued to defeat the purpose of deregulation.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, had said in September that the Federal Government had stepped back in fixing the price of petrol, adding that market forces and crude oil price would determine the cost of the product.

Gillis-Harry said marketers had lost millions of naira as a result of the frequent price adjustments.

“We have no circular to confirm that price adjustment, and as far as we are concerned, we cannot say it will be implemented until we get an official communication about it,” he added.

When contacted to find out when the government would issue a circular to marketers regarding the price reduction, the Special Assistant to the Minister of State for Petroleum Resources, Mr Garba-Deen Mohammed, promised to revert but had yet to do so as of the time of filing this report.

“We are waiting for the circular from the government. We can only implement the price reduction when we get the circular,” the Vice President, IPMAN, Mr Abubakar Maigandi, said.

The Federal Government removed the petrol subsidy in March this year after reducing the pump price of petrol to N125 per litre from N145 on the back of the sharp drop in crude oil prices. The price reduction lasted till June.

Nigerians have seen increases in the pump prices of petrol four times in the past five months, rising from N121.50–N123.50 per litre in June to N140.80-N143.80 in July, N148-N150 in August, N158-N162 in September and N163-N170 in November.

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Demand For Accountability Is Not Politicisation Of Insecurity — El-Rufai To ONSA

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Former Kaduna State Governor Nasir el-Rufai accused the Office of the National Security Adviser (ONSA) of mishandling the country’s counter-insecurity efforts and attempting to silence criticism by labelling dissenters as unpatriotic.

El-Rufai criticised what he called a misguided “non-kinetic” approach to insecurity, claiming that officials are paying and feeding bandits instead of confronting them directly.

In response, ONSA dismissed the accusations as “baseless and false”, urging el-Rufai to refrain from politicising national security and stressing that combating banditry must remain a collective endeavour, not a tool for partisan score-settling.

In a follow-up statement, el-Rufai insisted that calls for accountability should never be conflated with the politicisation of security.

“It is a well-known fact to discerning Nigerians that the face of the politicisation of national security for politically intended purposes resides, for the first time in our recent history, in the ONSA under its present leadership.”

He urged ONSA to subject its tactics to scrutiny:

“If the ONSA thinks Nigerians are not following its unclear and incompetent management of terrorism and banditry in Northern Nigeria and beyond… then it is high time it carried out an in-depth evaluation and review of its actions.”

El-Rufai also cited tangible evidence, such as video and audio recordings from traditional and religious leaders, showing that communities have condemned alleged payments to bandits.

He further criticised ONSA for favouring protocol and media image over effective security operations, notably censuring the public display of supposedly “rescued” victims—claiming many of those rescued had paid ransom prior to media coverage.

“In the megalomania of the National Security Adviser, every attempt to hold him accountable is politicisation of security, every perceived enemy of his is a security risk, and every critic of a purportedly democratic government is unpatriotic. What a shame!”

El-Rufai accused the Kaduna State government of suppressing reports on security threats by stifling local media outlets—citing his own administration’s practice of publishing quarterly and annual security reports as a model of transparency.

He called on both ONSA and the Kaduna government to publicly disclose the locations and operational details of the disarmament, demobilisation, and reintegration programs for purported “repentant” bandits.

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PDP Would Be Destroyed If Peter Obi Returns To Party — Wike

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The Federal Capital Territory Minister, Nyesom Wike, has asserted that welcoming Peter Obi back into the People’s Democratic Party (PDP) would spell disaster for the party.

During a media session in Abuja, Wike noted that key PDP figures like Bauchi Governor Bala Mohammed and Senate Minority Leader Abba Moro have been engaged in discussions with both Obi and former President Goodluck Jonathan regarding a potential return to the party.

Obi officially left the PDP days before its 2023 presidential primary and later joined the Labour Party—a move that positioned him as its presidential candidate that year.

Wike said Obi’s character disqualified him from returning, citing past insults against the party: “Obi was abusing the party, saying it is rotten. So now the party is suddenly good enough for him to come and contest on its platform?”

He continued, criticizing the idea as incompatible with the party’s integrity: “That kind of ambition can make people even go to Satan’s house.”

Wike warned that the party stands to lose credibility and its guiding principles if Obi is welcomed back. “Anybody suggesting that Obi should return is entitled to their opinion. But if you want to destroy this party, then bring Obi back,” he declared.

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Politicians Pushing Jonathan To Contest In 2027 Betrayed Him In 2015 — Wike

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The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has urged former President Goodluck Jonathan against returning to the 2027 presidential race, saying he should continue to serve Nigeria as a respected statesman instead.

Speaking at a media briefing in Abuja, Wike noted persistent rumours that Jonathan might vie for the presidency again on the PDP platform, though the ex-president has not publicly addressed the speculation.

“I know Jonathan very well. He enjoys being respected internationally as a statesman and I believe he will continue in that role,” Wike remarked.

He sharply criticised those encouraging Jonathan’s return, arguing they are the very figures who undermined him during the 2015 election.

“People pushing Jonathan — what strength do they have? Were they not the same people who worked against him in 2015?” he queried.

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