All NewsNewsTop News

Price war: NNPCL reduces PMS to N860/litre, days after Dangote drops to N825

Photo of Baliks Sulainon Baliks Sulainon Send an email
0 2 minutes read
NNPC

 

Price war may have broken out between the two major petroleum marketers in the country – the Nigerian National Petroleum Company Limited, NNPCL and Dangote Petroleum Refinery, following yesterday’s announcement by the NNPCL to reduce it pump price of Premium Motor Spirit (PMS), also known as petrol to N860 per litre.

This development is the latest in a price war among oil marketers and independent petroleum dealers. It is also influenced by fluctuations in global crude oil prices.

The new NNPCL price, which takes effect yesterday, marks a significant drop from the previous average of N920 per litre.

Last week, Dangote Petroleum Refinery reduced the ex-depot price of petrol from N890 per litre to N825, marking its second price cut in February.

However, the Independent Petroleum Marketers Association of Nigeria (IPMAN), has said that the NNPCL’s premium motor spirit new price is yet to drop.

IPMAN’s spokesperson, Chinedu Ukadike, who disclosed yesterday, according to Daily Post report notes that the ex-depot price of NNPC petrol has remained unchanged at N940 per litre.

“The ex-depot price of PMS has remained unchanged at N940 on NNPC’s portal.
We are not aware of any petrol price reduction at NNPC.”

Meanwhile, Dangote Petroleum Refinery & Petrochemicals has stated that it will make a N65/litre refund to marketers who purchased Premium Motor Spirit (PMS) otherwise known as petrol, at rates higher than the earlier announced prices so Nigerians will benefit from cheaper fuel.

The move follows the refinery’s recent reduction of its ex-depot price from N890 per litre to N825 per litre.

This disclosure is contained in a statement issued by Dangote Refinery where it stated that the refund will be for any of its key partners – AP (Ardova Plc), Heyden, or MRS – throughout Nigeria.

This move follows the refinery’s recent reduction of its gantry price from N890 per litre to N825 per litre.

The refinery stated that this is part of its ongoing efforts to ensure that Nigerians are the primary beneficiaries of the price reduction and in line with President Bola Tinubu’s Renewed Hope Agenda, which aims to stimulate the economy.

The refinery confirmed it will refund N65 per litre on the over 200,000 metric tonnes of PMS purchased by marketers at the old gantry price of N890 per litre, before the new rate of N825 per litre.

Dangote refinery noted that with the new gantry price of N825 per litre, it expects that no Nigerian will pay more than N900 per litre for PMS, regardless of location or petrol station.

Photo of Baliks Sulainon Baliks Sulainon Send an email
0 2 minutes read
Photo of Baliks Sulainon

Baliks Sulainon

Related Articles

RIVERS PEOPLE, BEWARE OF DISTANT VOICES: A RESPONSE TO PROF. FEMI OTUBANJO I read with considerable concern the recent commentary by Professor Femi Otubanjo on Arise TV (Thursday, 28 May 2026), in which he sought to lecture the people of Rivers State on the supposed dangers of the political realignment around the Honourable Minister of the Federal Capital Territory, Barr. Nyesom Wike, CON. With all due respect to the Professor’s academic standing, his intervention compels a firm reply- both for the record and for the protection of our state from the steady traffic of distant commentary that increasingly seeks to dictate what Rivers people should think, feel, and do. The Question No One is Asking: Let me begin with the question that polite analysis has avoided: what exactly is the business of an Abuja-based academic in the internal political affairs of Rivers State? Rivers is not short of analysts, elders, traditional rulers, professionals, and statesmen who have lived through the dynamics being discussed. We do not require imported interpretation of our own history. When commentators from outside our state appoint themselves the conscience of our politics, I see it as a subtle insult and we are entitled to ask, courteously but firmly: on whose behalf, and to what end? Every state in this country has its share of unresolved questions. We have not heard Rivers analysts setting themselves up as the moral compass of other regions. That restraint is called respect. We expect the same in return. The Wike Record is a Record, Not a Rumour: The framing that Barr. Nyesom Wike is somehow “imposing” himself on Rivers politics is an insult to the intelligence of every Rivers person. The Honourable Minister served this state as Governor for eight consecutive years. He transformed our capital, expanded our institutions, exposed our professionals — myself included — to advanced strategic training, and projected the name of Rivers State onto the national stage with a force we had not previously known. Today, his stewardship of the FCT has earned national acclaim and brought honour to every Rivers son and daughter. A man of that record is not an “external force.” He is the architect of the political structure under discussion. To treat him as an intruder is to rewrite recent history in plain daylight. On the Misnamed “Sidelining”: Professor Otubanjo speaks of the “ousting” of a sitting Governor as if it were a spontaneous act of malice. With respect, this framing skips over everything that matters. The fracture in Rivers did not begin with the current realignment; it began with a documented pattern of governance failures that the constitutional institutions of our state have been compelled to address — failures we Rivers people lived through, in real time, while distant commentators were silent or oblivious. To skip over the substance and arrive at “sympathy for the underdog” is not analysis. It is editorial. The Sympathy Vote Theory Has Already Been Tested: The Professor suggests that Rivers voters may revolt in sympathy. This is the kind of armchair hypothesis that sounds clever in a television studio but collapses on contact with reality. The FCT Area Council results, the orderly emergence of candidates across our APC primaries- governorship, National Assembly, State Assembly — and the visible consolidation of the political base in Rivers all tell a different story. The data does not support the Professor’s prediction. Rivers people have already spoken with their feet. A Pattern We Must Recognise: I am compelled to draw the attention of my fellow Rivers people to something larger than a single television interview. There is a discernible pattern of voices, conveniently located outside Rivers, who have suddenly developed a passionate interest in our internal affairs. Some are sincere. Many are not. The question every discerning Rivers person must ask is: why now, why these voices, and who benefits when our unity is unsettled? This is the season in which a state’s future is decided. It is also the season in which interlopers and saboteurs find their loudest voices. We have seen this script before, in other states, and we have seen what happens to states that allow themselves to be steered from outside. A Call to Rivers People: My fellow Rivers people, the future of our state must be authored by us, for us. Let us not be distracted, divided, or directed by voices that have no stake in our soil. Let us close ranks behind the leadership that has delivered for us, time and time again the leadership of Barr. Nyesom Wike, whose record speaks even when his critics shout. Let us support the candidates he has helped present, from the governorship down to every House of Assembly seat. This is not blind followership. It is informed loyalty rooted in evidence, history, and lived experience. To do otherwise to allow distant analysts to lecture us into doubt is to surrender our agency at the precise moment when it matters most. Rivers State is too rich, too strategic, and too proud to be a chessboard on which others move pieces. Conclusion: I make these observations as an elder of Rivers State and as a citizen exercising my fundamental right to speak on matters affecting my people. I will not be intimidated into silence by the academic gowns of distant commentators, and I urge every Rivers person of conscience to refuse the same. We are mature enough, sophisticated enough, and politically aware enough to think for ourselves. The Honourable Minister of the FCT has earned our loyalty through years of demonstrated commitment. The 2027 election is ours to win, not anyone else’s to predict. Let Rivers people stand together, alert, united, and unmoved by the noise from outside. Dr. George C. Nwaeke, FCA, mni Former Head of Service, Rivers State

Havertz gives Arsenal early lead over PSG

We’ll resist intimidation, says Turaki-led PDP

Tensions rise in APC over controversial National Assembly primaries

Leave a Reply

Back to top button