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Petrol Price Should Be N400 Per Litre After Subsidy Removal — PENGASSAN

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The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) says the pump price of premium motor spirit (PMS), also called petrol, should be between N360 and N400 a litre, after the removal of subsidy.

Festus Osifo, president of PENGASSAN, made this known while speaking to journalists on the sidelines of the association’s national executive council (NEC) meeting, in Abuja on Tuesday.

The federal government has projected to spend N3.35 trillion on petrol subsidy (which may be removed by June) this year.

Speaking on the matter, Osifo said the price of the product, after subsidy is scrapped, will be determined by the official foreign exchange rate, sourced by Nigerian National Petroleum Company (NNPC) Limited for petrol importation.

“Today, the sole importer of PMS into Nigeria is the NNPC. The NNPC is using an exchange rate of the CBN which gives about N400 to N450 depending on the day and depending on the window that you are looking at. So, if you compute that into the model today, PMS should be selling for a region of about N360 to N400 [a litre],” Osifo said.

The PENGASSAN president said the association has compelled all of its organs across the country to make petrol available to Nigerians and has threatened to revoke the licences of any member found to be hoarding petrol.

Osifo added that functional local refineries will not only lower the price of petrol but also create jobs for Nigerians.

“While maintaining our support for the full deregulation of the sector and the significant milestone achieved in this regard, we counsel that efforts be made to increase the pace of the current rehabilitation exercise of refineries and get them back on track in due time,” he said.

Osifo said the incoming administration must address the currency swap as well as sporadic fuel scarcity across the country, while palliatives must be made available to Nigerians to mitigate the impact of the petrol subsidy removal.

BIG STORY

Nigeria Battle Mozambique For AFCON Quarter Final Spot Today

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Nigeria continues its quest for a fourth Africa Cup of Nations title when they face Mozambique in the round of 16 on Monday at the Fez Stadium.

Victory will secure the Super Eagles’ 12th quarter-final appearance, extending their record for last-eight finishes ahead of Egypt, while Mozambique will make their debut at this stage after reaching the knockout phase for the first time in six attempts.

The two sides have met five times across all competitions, with Nigeria undefeated against the Mambas, winning four and drawing one.

Their only previous AFCON meeting came in 2010, a 3–0 group stage victory featuring a Peter Odemwingie brace and an Obafemi Martins strike.

More recently, Nigeria edged Mozambique 3–2 in a friendly in October 2023, with Terem Moffi, Frank Onyeka, and Moses Simon on the scoresheet.

Nigeria entered the knockout stage on the back of a flawless group performance, winning all three matches against Tanzania, Tunisia, and Uganda. They scored eight goals in the group phase, their highest tally in an AFCON group stage, and conceded four.

Their total of 61 AFCON wins now sits just behind Egypt’s 62, while their record of scoring in 10 consecutive tournament matches remains intact.

Key performers for the Super Eagles include Ademola Lookman, who has scored twice and provided two assists so far, earning a spot in the group stage Best XI. Forward Victor Osimhen, who has 32 goals in 49 appearances for Nigeria, is expected to spearhead the attack, supported by captain Wilfred Ndidi and midfielders Alex Iwobi and Raphael Onyedika.

Semi Ajayi and Bright Osayi-Samuel are set to return to the starting line-up in defence and on the wing, respectively.

Lookman reflected on the team’s strong showing in the group stage, “Yeah, we had a great run in the group stage, and I am thankful to all who voted. The selection is not just for me, but for my entire teammates, because their efforts on the pitch contributed to my selection.

“However, this is not the vision for our team. We have set targets to accomplish here in Morocco, and we are nowhere near our targets yet.”

Mozambique entered the knockout phase having claimed their first-ever AFCON finals win against Gabon in the group stage. They also scored against Cameroon in their final group match but lost 2–1.

The squad, led by captain Domingues and coached by Chiquinho Conde, will rely on defenders Nené, Bruno Langa, and Reinildo Mandava, while Chamito, Faisal Bangal, and João Bonde spearhead their attacking efforts. Geny Catamo has already scored in back-to-back AFCON matches, becoming the first Mozambican to achieve this feat.

Cameroonian official Abdou Abdel Mefir has been appointed referee for the match, assisted by compatriots Elvis Noupoue and Carine Atezambong.

Eric Chelle has urged his players to remain focused, “We will not get ahead of ourselves and think we are the best. We will continue to work hard and stay focused for every match as it comes.”

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BIG STORY

Tinubu Orders Manhunt Of Terrorists Who Killed Over 40 In Niger

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President Bola Tinubu has ordered a manhunt for the terrorists responsible for a deadly attack on communities in Niger State that left more than 40 people dead and many others abducted.

In a statement on Sunday personally signed by him, the President said he had directed the Minister of Defence, the Chief of Defence Staff, the Service Chiefs, the Inspector-General of Police, and the Director-General of the Department of State Services to track down the perpetrators of the Kasuwan Daji attack and ensure they are brought to justice.

“These terrorists have tested the resolve of our country and its people. They must face the full consequences of their criminal actions,” Tinubu said.

“No matter who they are or what their intent is, they must be hunted down. In addition, those who aid, abet or enable them will also be brought to justice,” he added.

The President further ordered the immediate rescue of all abducted victims and directed that security operations around vulnerable communities, particularly those near forests, be intensified.

“These times demand our humanity. We must stand together as one people and confront these monsters in unison. United, we can and must defeat them and deny them any sanctuary. We must reclaim peace for these attacked communities,” Tinubu said, praying for the repose of the victims’ souls.

The presidential directive followed coordinated attacks by suspected bandits on Saturday afternoon in Agwara and Borgu local government areas of Niger State.

According to the Niger State Police Command, the attackers are believed to have emerged from the National Park forest along Kabe District before storming Kasuwan Daji in Demo Village via Kabe.

Police spokesman Wasiu Abiodun said the attack began around 4:30 pm and lasted for several hours.

“At about 4:30 pm on Saturday, suspected bandits invaded Kasuwan Daji, killed over 30 persons, burnt the market, looted shops and carted away food items,” Abiodun said.

He added that the attackers operated with little resistance due to the remoteness of the area, noting that security forces were later deployed.

“A joint security team has visited the scene, and efforts are ongoing to rescue the abducted victims. Further developments will be communicated,” he said.

While the police put the death toll at over 30, residents and community leaders said the casualties were significantly higher.

The Director of Communications of the Catholic Diocese of Kontagora, Rev. Fr Stephen Kabirat, said no fewer than 40 people were killed during the raid.

“The terrorists have killed over 40 persons and taken some into captivity,” Kabirat said.

“Our parish priest narrowly escaped abduction when the terrorists visited our Mission House three days ago. They destroyed some religious items, carted away two motorbikes and cash worth over two hundred thousand naira.”

Kabirat added that villagers, including women and children, were among those abducted.

A community source in Agwara Local Government Area, who requested anonymity for security reasons, said the attacks extended beyond Kasuwan Daji.

“The terrorists attacked communities in Agwara and Borgu, killing no fewer than 42 persons and abducting an unconfirmed number of people, including children,” the source said.

“They have been attacking villages in Agwara for the past week without any opposition. On Saturday alone, they burnt the market at Kasuwan Daji and abducted many people, including students of St Mary’s Private Catholic Primary and Secondary Schools, Papiri.”

The source said 37 people were killed in Kasuwan Daji near Papiri, while another five were killed in Kaima village.

According to the source, fear has gripped communities across the area, with residents fleeing to neighbouring villages and across the river for safety.

“This is a serious crisis. The government and security agencies should come to our aid. People are living in fear, and many communities are now deserted,” the source added.

The area has witnessed repeated attacks in recent months. In November 2025, terrorists raided St Mary’s Catholic Primary and Secondary School in Papiri, abducting 315 pupils, students and teachers. They were later released after about one month following federal government intervention.

Meanwhile, Ogun State Governor and Chairman of the Southern Governors’ Forum, Dapo Abiodun, condemned the killings, describing them as callous, senseless, and a crime against humanity.

In a statement issued on Sunday in Abeokuta, Abiodun expressed condolences to Niger State Governor Mohammed Umaru Bago and the people of the state.

“I commiserate with the government and people of Niger State over the dastardly attacks by terrorists that left 42 people dead and many others abducted,” he said.

“The cowardly onslaught on innocent citizens going about their lawful business represents a stain on our nation’s conscience. Such brutality must never be allowed to happen again.”

Abiodun urged security agencies to deploy all available resources to track down and prosecute the perpetrators, stressing that the attackers must be “completely crushed” to prevent further bloodshed.

He also prayed for the repose of the souls of the victims and for strength for their families.

 

 

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BIG STORY

CIG Motors Fires Director Jubril Arogundade Over Financial Misappropriation, Abuse Of Office, Refers Case To EFCC

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A financial scandal has rocked CIG Motors Co. Ltd following the termination of the appointment of its Executive Director, Jubril Arogundade, over allegations of financial misappropriation and abuse of authority.

The company confirmed that the matter has been formally referred to the Economic and Financial Crimes Commission for further investigation.

According to PUNCH Newspaper, CIG Motors announced the immediate termination of Arogundade’s appointment, citing the outcome of an internal investigation.

The company said the decision followed a period of suspension and a “comprehensive internal review” into his conduct while in office. The automobile company said, “The findings of the investigation revealed conduct that fell significantly below the company’s governance, compliance, and ethical standards.

“In view of the seriousness of the issues uncovered, management approved the immediate termination of his appointment.”

CIG Motors further disclosed that aspects of the investigation involving alleged financial impropriety have been escalated to law enforcement authorities. “Matters connected to financial misconduct arising from the investigation have been formally referred to the Economic and Financial Crimes Commission.”

The firm further stated that it is “cooperating fully with the authorities as the matter progresses through the appropriate legal and regulatory channels.”

The company stressed that the action taken against the former executive reflects its firm position on ethical conduct. “CIG Motors maintains a zero-tolerance stance on financial misconduct and abuse of authority, particularly at the senior management level. Safeguarding institutional integrity and protecting stakeholder interests remain central to our operations.”

Sources within the company said the internal probe examined several transactions and management decisions that allegedly breached established internal controls. While the company declined to provide details, it noted that the process was thorough and guided by its internal governance framework.

CIG Motors also sought to reassure customers, partners, and investors that the development would not disrupt its business. “Operational continuity across the business remains unaffected,” the company said, emphasising that day-to-day activities are proceeding normally despite the Managing Director’s dismissal.

“We will not engage in further public commentary on this matter as it is now before the relevant authorities,” the statement added.

When contacted for his response, Arogundade dismissed reports claiming he was sacked from his position, insisting that he voluntarily resigned on December 2, 2025. He described the reports as misleading and a distortion of the facts surrounding his exit.

Explaining his decision, Arogundade said his resignation followed prolonged and fundamental disagreements over the company’s financial and governance direction.

He added that, “My resignation followed serious concerns about the company’s growing debt profile, weak corporate governance practices, and persistent compliance failures, despite internal safeguards and repeated warnings.”

He stated that he chose to step aside after his concerns were repeatedly raised without meaningful resolution. He further disclosed that longstanding tax compliance issues under the chairmanship of Ms Diana Chen had resulted in enforcement actions by tax authorities, including a reported warrant of distraint involving sums running into several billions of naira.

These issues, he said, were among those that generated deep internal concern. Arogundade also maintained that he is not afraid of any investigation, stressing that while he has not been invited by the EFCC, he is fully willing to cooperate with any lawful inquiry.

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