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Petrol Price Hike: IPMAN Tackles NNPCL, Threatens To Stop Operations

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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has issued a threat to halt operations across the nation due to the escalating cost of Premium Motor Spirit, commonly referred to as petrol, which is being sold to its members by the Nigerian National Petroleum Company Limited (NNPCL).

On Thursday, IPMAN disclosed that “the cost of petrol from the Dangote Petroleum Refinery to NNPC was about N898/litre,” but noted that NNPC was selling the same product to independent marketers at “N1,010/litre in Lagos.”

Controlling over 70 per cent of filling stations across the country, the association expressed strong opposition and threatened to suspend services. IPMAN also demanded a refund from NNPC for payments made by its members for earlier petrol supplies. This situation has the potential to exacerbate the fuel scarcity and long queues already present in various regions of Nigeria.

On Thursday, it was also learned that members of the Major Energies Marketers Association of Nigeria (MEMAN) were still loading subsidised petrol from Dangote refinery, based on prior arrangements with NNPC.

During a discussion with one of the correspondents, IPMAN’s National Publicity Secretary, Chinedu Ukadike, said the association may be compelled to take action if the ongoing dispute with NNPC is not promptly resolved.

The IPMAN national president, Abubakar Maigandi, previously revealed that NNPC was asking independent marketers to purchase petroleum products from its depot at “N1,010/litre in Lagos State.”

Speaking in a live television interview on Thursday, Maigandi argued that this price exceeded what NNPC paid for the product from the Dangote refinery.

He further mentioned that funds belonging to independent marketers had been held by the national oil company for approximately three months.

According to him, “NNPC purchased the product from the refinery at N898/litre but is asking marketers to buy it at N1,010/litre in Lagos; N1,045 in Calabar; N1,050 in Port Harcourt; and N1,040 in Warri.”

Maigandi emphasized that IPMAN’s funds held by NNPC have accumulated to “N15bn,” and marketers are eager to fully engage in the petrol business and its components following the sector’s deregulation.

He added, “Marketers want to be fully engaged in the business of petrol and its components. NNPC has been the one bringing in the product and loading and has an off-take in the Dangote refinery.

“We are now being allowed to import, and there is no challenge on that issue. What we are after is to get the product directly from Dangote and not through NNPC. Currently, they owe us up to N15bn.”

On Wednesday, NNPC’s retail stations increased the petrol price to “N1,030 from N897/litre in Abuja,” and “N998/litre from N868/litre in Lagos.” Other regions experienced similar hikes, sparking widespread anger among Nigerians.

This second price hike in a month represents an increase of about “14.8 per cent or N133.” The Nigeria Labour Congress and the Organised Private Sector have called for an immediate reversal of the price hikes.

As of now, the price of petrol has surged by over “430 per cent” in the 17 months since the current administration took office on May 29.

When asked if NNPC had reached out to resolve the issue with independent marketers, Ukadike stated that no contact had been made by the oil company.

“There have been no changes or feedback at all. NNPC hasn’t responded to us. They haven’t returned our money. We are still observing what the situation would turn to since they haven’t reached out to us, or probably we would have to withdraw our services if the issue is not resolved.”

Efforts to arrange direct loading from Dangote are ongoing, with a meeting expected to take place soon. Ukadike also mentioned that marketers would sell petrol at a lower rate of “N970/litre” if they could purchase products directly from Dangote.

“Any moment from now, Dangote will invite us, from the fillers we have received,” Ukadike said. “If we start buying from Dangote at its current price, we will sell at N970, lower than the price of NNPC. Dangote sold to NNPCL at N898/litre. But they are asking us to buy from them at their pump price, can you imagine this kind of slavery? We continue to talk about price disparity every day and it’s there for all Nigerians to see.”

Phone calls and messages to NNPC officials to respond to IPMAN’s concerns were not returned at the time of filing this report. Likewise, officials from Dangote refinery did not reply to enquiries regarding IPMAN’s allegations.

Meanwhile, MEMAN stated that it is not being owed by NNPC, attributing this to its integrated storage systems, which shield it from abrupt price shifts in the market.

MEMAN’s Executive Secretary, Clement Isong, explained during a phone conversation, “We have storage tanks, unlike other oil marketers that only have trucks to transport directly to their filling stations. MEMAN is integrated. We have storage tanks, trucks and we have filling stations. So, we have products that we have bought into our storage tanks, which is a big difference from people who buy and take them straight to the station.”

Isong added that MEMAN’s existing relationship with NNPC allows them to adapt when prices fluctuate. He also noted, “Everybody will charge its price according to its business strategy to optimise costs.”

A major oil marketer revealed that MEMAN members are still loading subsidised petrol from Dangote refinery based on prior arrangements with NNPC, though this stock will likely be exhausted within the next two weeks. Thereafter, MEMAN will begin purchasing directly from Dangote refinery.

As the new pricing regime takes hold, one major dealer noted, “I believe the price of PMS has finally been deregulated, and subsidy has finally been eliminated. Henceforth, the price of PMS will be determined by market dynamics.”

The dealer further explained that the government’s decision to sell crude oil to local refineries in naira at a fixed exchange rate will protect consumers from exchange rate fluctuations and reduce the costs of transporting crude to offshore refineries.

“The era of full competition has come to Nigeria. With time, things will settle down, and people will make informed choices. The government should invest in mass transportation, especially with CNG buses.”

Meanwhile, data from MEMAN indicates that the landing cost of petrol has dropped to “N975.89/litre,” while the landing costs of diesel and aviation fuel are “N1,076.35/litre” and “N1,111.97/litre,” respectively.

In Abuja, filling stations have been selling petrol at rates ranging from “N1,025 to N1,120,” depending on location.

NNPC’s recent decision to terminate its exclusive purchase agreement with Dangote refinery has raised concerns about the impact on Nigeria’s economy, with experts warning of a rise in unemployment and a growing strain on businesses.

Dr. Onuche Unekwu, an Associate Professor at the University of Africa in Bayelsa State, said, “As prices rise, demand will fall, leading to increased unemployment rates. This is a concerning cycle that can ensnare many households.”

Victor Agi, an expert at the Centre for Fiscal Transparency and Public Integrity, warned that inflation would spike and small businesses would struggle to cope, stating, “If there’s an increase in transportation and raw material costs, it will affect their businesses. If they lack sufficient funds, they may not be able to continue operations.”

He also suggested that businesses explore alternative energy sources like solar and CNG, although these options may not be affordable for many small enterprises.

Agi further added, “The government should seek alternative energy sources, such as CNG, which is cheaper and abundant. However, it must address the costs associated with transitioning to CNG facilities for average Nigerians.”

 

Credit: The Punch

BIG STORY

Police To Resume Nationwide Tinted Glass Permit Enforcement January 2, 2026

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The Nigeria Police Force has announced that it will resume the nationwide enforcement of the tinted glass permit policy from January 2, 2026, citing growing security concerns linked to the misuse of unauthorized tinted vehicle glass.

The announcement was contained in a statement issued on Monday by the Force Public Relations Officer, Chief Superintendent of Police Benjamin Hundeyin.

The police said the decision followed a review of emerging security threats and the need to enhance public safety, pending the final determination of a related matter currently before the court.

The Force clarified that there was no court order restraining it from enforcing the law regulating the use of tinted glass on vehicles.

It explained that enforcement was earlier suspended in the interest of transparency and public convenience, to allow motorists sufficient time to regularize their documentation and complete the permit application process without pressure.

According to the statement, recent security trends have revealed a rise in criminal activities carried out with the aid of vehicles fitted with unauthorized tinted glass.

Such vehicles, the police noted, have been used by criminals to conceal their identities while committing offences including armed robbery, kidnapping and other violent crimes.

In view of these developments, the police said the resumption of enforcement had become necessary and urgent as a proactive step to safeguard lives and property across the country.

“Recent trends, however, reveal a disturbing rise in criminal activities perpetrated with the aid of vehicles fitted with unauthorized tinted glass.

“Some individuals and organized criminal groups have exploited this gap to conceal their identities and facilitate crimes ranging from armed robbery to kidnapping and other violent crimes.

“In view of this, the Nigeria Police Force has found it both necessary and urgent to resume full enforcement as a proactive measure to safeguard our communities. Consequently, enforcement of Tinted Glass Permit will resume on 2nd January, 2026,” the statement read.

 

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BIG STORY

Buhari Believed Aso Rock Gossip I Planned Killing Him, Began Locking His Room —— Aisha

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Former First Lady, Aisha Buhari, has narrated how her husband, the late President Muhammadu Buhari “began locking his room” following gossip in Aso Rock that she (Aisha) planned to kill him.

The ex-First Lady also said the health crisis that forced Buhari, to take 154 days of medical leave in 2017 began with a broken feeding routine and mismanaged nutrition.

She argued that Buhari’s illness was not a mysterious ailment or poisoning.

Her account of the health crisis appeared in a new 600-page biography, ’From Soldier to Statesman: The Legacy of Muhammadu Buhari’, authored by Dr. Charles Omole, launched at the State House on Monday.

It read, “According to Aisha Buhari, her husband’s 2017 health crisis did not originate as a mysterious ailment or a covert plot. It started, she says, with the loss of a routine; ‘my nutrition,’ she describes it, a pattern of meals and supplements she had long overseen in Kaduna before they moved into Aso Villa.”

The former First Lady convened a meeting with close staff, including the physician, Suhayb Rafindadi; the CSO, Bashir Abubakar; the housekeeper, and the SSS DG to explain the plan.

She said, “Daily, cups and bowls with tailored vitamin powders and oils, a touch of protein here, a change to cereals there.”

“When the Presidency’s machinery took over our private lives, she explained the plan: daily, at specific hours, cups and bowls with tailored vitamin powders and oil, a touch of protein here, a change to cereals there. Elderly bodies require gentle, consistent support,” Omole narrated.

However, the routine frayed.

“Then came the gossip and the fearmongering. They said I wanted to kill him,” the book quotes her as saying.

“My husband believed them for a week or so,” she said, revealing that the President began locking his room, changed small habits, and crucially, “meals were delayed or missed; the supplements were stopped.”

“For a year, he did not have lunch. They mismanaged his meals,” she added.

The deterioration culminated in Buhari’s two extended medical trips to the United Kingdom, totalling 154 days in 2017, during which he ceded authority to Vice President Yemi Osinbajo.

Upon return, he admitted to being “never so ill” and having received blood transfusions.

Buhari’s absences “sparked rumours, speculation, and even conspiracy theories,” Omole wrote.

Mrs Buhari debunked stories of plots to poison her husband.

Her contention, Omole noted, is that “loss of a routine, ‘my nutrition,’ was the genesis of the crisis.”

In London, doctors prescribed an even stronger regimen of supplements, he explained.

Initially, Buhari “was frightened and not taking them as prescribed. So she took charge of his welfare, slipping hospital-issued supplements into his juice and oats,” it read.

The former First Lady described the turnaround as swift, noting, “After just three days, he threw away the stick he was walking with. After a week, he was receiving relatives.”

“‘That,’ she says, ‘was the genesis, and also the reversal of his sickness,’” the book stated.

According to Omole, critics said Buhari’s reliance on UK hospitals exposed the failure of Nigeria’s health system.

A “more compassionate perspective,” he wrote, recognises that a man in his 70s may require specialised care “not readily available in Nigeria” after “decades of underinvestment.”

He also noted Buhari’s habit of handing power to his deputy during absences, which, he said, ensured “institutional propriety, even during personal health crises.”

The book also revealed a climate of mistrust around the Presidency.

Mrs Buhari alleged surveillance, the bugging of the President’s office with listening devices and playback of private conversations, saying, fear and conscience “contributed to taking his life.”

She refuted the long-held rumour that Buhari had a body double, popularly known as “Jibril of Sudan,” as absurd, arguing that poor strategic communication in government allowed simple, banal developments to metastasise into conspiracies.

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BIG STORY

Dangote Releases Details of ‘$5m Spent By NMDPRA CEO’ On His Children’s Secondary School Education In Switzerland [PHOTO]

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Aliko Dangote, chairman of the Dangote Group, says Farouk Ahmed, chief executive officer (CEO) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), spent about $5 million on the secondary school education of his children in Switzerland.

In a paid newspaper advert on Tuesday, the billionaire said Ahmed paid the said amount for four of his children, covering a period of six years.

On Monday, Dangote had alleged that Ahmed Farouk “paid $5 million” to a Swiss secondary school for his children’s education, describing the act as “economic sabotage and corruption”.

Releasing details of his allegations, in the newspaper advert, Dangote listed the four children as Faisal Farouk, Farouk Jr., Ashraf Farouk, and Farhana Farouk.

According to the billionaire entrepreneur, the secondary schools the children attended for a duration of six years were Montreux School, Aiglon College, Institut Le Rosey, and La Garenne International School.

Dangoted also presented estimated annual tuition, living expenses, air travel, and upkeep, which were multiplied across four children and several years of study.

He said the annual cost of tuition, airfare, and upkeep per child was $200,000, which totals $800,000 per year for his four children.

The businessman further explained that the total living expenses and air tickets per child over six years was $1.2 million, amounting to $4.8 million for all four children.

Overall, Dangote estimated that the combined cost of tuition and upkeep for all the children reached $5 million.

He also listed the tertiary education expenses for Ahmed’s children, noting that tuition, upkeep, airfare, and other costs average approximately $125,000 per year over a four-year period.

According to the billionaire, this adds up to $500,000 for four years per child, totaling $2 million for all of them.

“Faisal just finished the 2025 Harvard MBA at $150,000 and $60,000 for upkeep, tickets and other incidentals. Total =$210,000 spent in 2025 for Faisal’s MBA,” he added.

Dangote said Nigerians deserve to know the source of the money “paid by a public officer while many parents in his home state of Sokoto cannot afford to pay N10,000 school fees for their children and wards”.

 

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