Business
Afenifere youths write Tinubu over alleged plot to stop crude supply to local refineries
The Afenifere Youth Renewal Group (AYRG) has written President Bola Tibubu, expressing concern over an alleged plot to frustrate domestic refineries, including the Dangote Refinery, from meeting Nigeria’s PMS consumption demand.
The alleged plot, said to be masterminded by a cabal comprising petroleum importers and officials of the Nigerian National Petroleum Company Limited (NNPCL), involves a plan to obstructing the supply of crude oil to local refineries.
In a letter co-signed by Chief Semiu Oriade and Otunba Opeoluwa Ayeola, the President and Secretary General, respectively, AYRG warned that the planned obstruction could have severe economic implications for Nigeria.
According to the Afenifere youths, possible consequences of the plot include artificial scarcity of petroleum products, further astronomical hike in pump prices, and economic hardship for millions of Nigerians.
The group further warned that it would erode economic gains recorded under President Bola Tinubu’s leadership.
Praising the President for his reforms, including removal of subsidy, which it said has liberated the economy from the stranglehold of corrupt oil cartels, AYRG warned that economic saboteurs can derail the progress made by the administration.
Parts of the letter read, “We write not only as concerned citizens, but more as stakeholders who are deeply invested in the development, stability, and prosperity of our dear country. It is now abundantly evident that certain vested interests within the NNPC are actively and deliberately trying to thwart the excellent advancements of your administration by obstructing the supply of crude oil to local refineries,” the letter said.
“This insidious plot, if not urgently curtailed, has the potential to erode the significant economic gains recorded under your leadership and plunge Nigeria back into the dark era of crippling fuel importation.
“Since its inception, it is believed that your administration has demonstrated a strong commitment to breaking the chains of economic enslavement that have long held our dear country hostage.
“The audacious removal of the fuel subsidy; a long-standing albatross on the neck of our nation’s economy as for decades lined the pockets of a privileged few at the expense of national progress, is undoubtedly a landmark decision that signaled the dawn of economic liberation for Nigeria.
“Your efforts in dismantling this fraudulent subsidy regime has liberated our economy from the stranglehold of corrupt oil cartels who, under the guise of serving the nation, have siphoned trillions of naira into private coffers while keeping Nigeria dependent on imported petroleum products.
“However, it has come to our attention, through credible sources and observable patterns, that certain elements within the Nigerian National Petroleum Corporation (NNPC), whose nefarious schemes were disrupted by your administration’s bold policies, are actively working to undermine the progress of your administration.
“These individuals, driven by selfish interests and a desire to maintain their stranglehold on the nation’s resources, are orchestrating a dangerous plot to halt the supply of crude oil to local refineries.
“Their ultimate goal is to force Nigeria back into the era of fuel importation, thereby paving the way for a return to exorbitant petrol prices, hyperinflation, and economic hardship for millions of Nigerians.
“We believe that the deliberate strangulation of crude supply to our local refineries is not just an economic crime; it is a direct assault on the sovereignty of Nigeria as a self-sustaining oil-producing nation.
“This country is abundantly blessed with crude oil reserves that should place us among the leading self-reliant petroleum producers in the world. Yet, due to years of systemic sabotage, corruption, and vested interests, Nigeria was forced to endure the humiliation of exporting crude oil only to buy it back at exorbitant prices as refined fuel.
“Your Excellency, we are heartened that your administration’s economic vision has come a long way in putting an end to this absurdity by reviving our refineries, ensuring local refining capacity is maximized, and cutting off the parasitic network of fuel importers who have, for decades, profited at the detriment of national prosperity.
“But rather than embrace the future of a self-sufficient Nigeria you are creating, these saboteurs, threatened by their loss of illicit profits, are hell-bent on reversing your policies by crippling local refining operations.
“Moreover, these individuals, who have long profited from the opaque and corrupt fuel subsidy regime, feel threatened by the removal of the subsidy. For decades, they have enriched themselves at the expense of the Nigerian people, siphoning billions of dollars meant for the development of our nation.”
The Afenifere Youth Renewal Group urged the President Tinubu to conduct a comprehensive investigation into the activities of the NNPC, and mandate uninterrupted supply of crude to local refineries.
It will be recalled that recently, there were reports that the NNPCL intends to adjust its crude allocation to Dangote Refinery following the coming onstream of the Warri and Port Harcourt refineries. The Port Harcourt and Warri refineries currently operate at a combined capacity of about 135,000 barrels per day.
Under the Federal Government’s naira-for-crude initiative, the NNPCL currently allocates 300,000 barrels of crude per day to Dangote Refinery.
Business
NNPC Slashes Petrol Price
The Nigerian National Petroleum Company Limited (NNPC) has reduced petrol prices at its retail stations in Lagos, Abuja, and other states by at least N20 per litre.
Current pump prices now range between N895 and N965.
In Lagos, the price dropped from N910 to N890 per litre, while in Abuja, it moved down from N940 to N920 per litre.
Other stations, including Ardova, MRS, and First Royal, are now selling petrol at N890 per litre.
Across the country, new pump prices for major states are as follows: Abuja N920, Lagos N890, Abia N912, Adamawa N940, Akwa Ibom N910, Anambra N905, Bauchi N915, Bayelsa N900, Benue N935, Borno N945, Cross River N910, Delta N900, Ebonyi N928, Edo N910, Enugu N912, Gombe N965, Imo N928, Kaduna N935, Kano N935, Kwara N905, Nassarawa N935, Niger N955, Ogun N905, Ondo N905, Osun N895, Oyo N905, Plateau N900, Rivers N895, Sokoto N935, Taraba N950, Yobe N950, and Zamfara N945.
Depot prices have also been adjusted following the arrival of fresh petrol shipments.
In Lagos, depots such as Wosbab, Chipet, Integrated, and Bovas now sell at N836 per litre, with Aiteo charging N835. Port Harcourt depots including Masters, Liquid Bulk, and Bulk Strategic reduced rates to N853, while Warri depots adjusted prices between N846 and N848.
Calabar depots also lowered costs, with rates ranging from N846 to N849 per litre.
The reduction comes after Dangote Refinery lowered its gantry price to N840 per litre.
Diesel prices also fell, dropping from N950 to N910 per litre.
Business
Egbu Community That Powers South East Battles Months Of Darkness
Egbu community in Owerri North Local Government Area of Imo State has endured months of crippling electricity outages, even as it hosts a Transmission Company of Nigeria (TCN) facility supplying and distributing power to the entire South-East.
Residents describe the situation as cruelly ironic: while electricity flows from their town to cities across five states, Egbu itself receives barely two hours of power daily.
The blackout has intensified amid a standoff between the Imo State government and the Enugu Electricity Distribution Company (EEDC) over the proposed Orashi Electricity Distribution Company.
Governor Hope Uzodimma announced at the recent Imo Economic Summit that Orashi Electricity Distribution Company would commence operations in December, promising improved supply and stability across the state.

Before this announcement, the Imo State government accused EEDC of deliberately shutting down power in retaliation for the creation of the new distribution company. Commissioner for Information and Strategy, Declan Emelumba, insisted the state’s intervention aims solely to improve electricity delivery and protect residents.
EEDC, through its Head of Communications, Emeka Eze, denied the claim, asserting the company has no intention to disrupt supply. It also noted that agents of the state government had previously interfered with its Egbu transmission facility, disrupting operations.
Caught in the crossfire, Egbu remains the worst affected, with prolonged blackouts crippling businesses and daily life. Residents say the 11KV Egbu feeder, which supplies electricity locally, has been in poor condition for years, severely limiting power availability.
Augustine Njoku, a youth leader in Mpana area, said, “That 11KV feeder has been bad for years. EEDC refuses to fix it, and that is why we are in darkness.”
Small businesses are struggling. Uche Onwuka, who runs a football viewing centre at Ishiuzor village, said unreliable power has driven away customers. “I spend everything on petrol; there’s no profit left,” he lamented.
Restaurant owner, Ms Augusta Igwe added, “Running my generator eats up all my profit. How could two hours of electricity supply improve my business. This is unacceptable. I can no longer cope.”
Am Electronics trader, Gibson Amuneke said he was forced to close his shop: “There is no business without electricity.. This is very insensitive. When you go to other parts of the State, there is reasonable power supply but here in Egbu, which hosts the Transmission. station, we hardly get supply”
Residents also complain of high estimated electricity bills despite scant supply, describing it as unfair for a community that hosts a major national power installation.
Efforts to reach EEDC officials about the 11KV feeder and residents’ claims went unanswered. With Orashi Electricity Distribution Company set to begin operations in December and the EEDC-Imo standoff unresolved, Egbu residents remain trapped in darkness, questioning how a community that powers the South-East can be left in such neglect.
Business
Boris Johnson Says He Feels “Perfectly Safe” in Nigeria, Praises Imo State’s Progress
Former British Prime Minister Boris Johnson has expressed confidence in Nigeria’s security, saying he feels perfectly safe during his visit to the country. His remarks come amid ongoing reports of insecurity in various parts of Nigeria, making his statement a notable endorsement of the nation’s stability in certain regions.
Johnson made the declaration on Thursday, December 4, 2025, while addressing participants at the Imo State Economic Summit 2025 in Owerri, the state capital. He acknowledged having read travel advisories and news reports highlighting security concerns prior to his trip but said his experience has been reassuring.
He said he feels perfectly safe in the country and emphasized that the summit environment and local hospitality contributed to his sense of security. He also asked the audience if they felt safe, receiving an enthusiastic affirmation.
During his visit, Johnson commended Governor Hope Uzodimma and the Imo State Government for their development initiatives, particularly efforts to provide 24-hour electricity. He highlighted the potential of Nigeria as a hub for innovation and economic growth, noting the opportunities presented by emerging technologies such as artificial intelligence.
While his statements have been welcomed by some as a boost to international confidence in Nigeria, analysts caution that the former prime minister’s experience reflects only a controlled and secure environment within Imo State. Several parts of the country continue to face challenges, including banditry, communal conflicts, and kidnappings.
Nonetheless, Johnson’s visit and remarks are significant, sending a positive message to investors and global observers about Nigeria’s potential for stability and progress. They also underscore the contrast between localized experiences of safety and broader security challenges across the country.
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