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Price war deepens as marketers slash petrol by N100

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File photo: Fuel pump

As more MRS filling stations in Lagos and Ogun states join in dispensing the Premium Motor Spirit (petrol) produced by the Dangote Petroleum Refinery at N739 per litre, motorists have started boycotting retail outlets that sell the product at higher prices.

This has compelled other stations to lower their petrol prices by about N100 per litre, an amount that is far below their cost of purchase, indicating the severity of the price war in the downstream oil sector.

Last week, the Dangote refinery shocked depot owners and marketers when it slashed the gantry price of petrol by N129, from N828 to N699 per litre. During a recent press briefing, the President of the Dangote Group, Aliko Dangote, said he had information that some marketers planned to keep pump prices high despite the reduction in the gantry price.

Consequently, Dangote vowed to enforce the new price regime, with MRS selling petrol at N739 from last Tuesday. “I was told that the marketers have met with (some officials) and were told to make sure that the price is maintained high. But this price we are going to introduce, we are going to start with MRS stations, most likely on Tuesday (last week) in Lagos; that N970 per litre, you won’t see it again. We have also asked members of IPMAN to come now. We have asked anybody who can buy 10 trucks to come and buy 10 trucks at N699.

“We are going to use whatever resources we have to make sure that we crash the price down. For this December and January, we don’t want people to sell petrol for more than N740 nationwide. Those who want to keep the price high to sabotage the government, we will fight as much as we can to make sure that these prices are down. If you have money to come and buy, you can pick up petrol at N699,” he said.

Our correspondent reports that when some MRS filling stations in Lagos dropped the price of petrol on Tuesday, it triggered long queues of vehicles seeking to buy the commodity at the outlets. It was observed that the MRS filling station in Alapere, Lagos, recorded a large turnout of buyers, many of whom boycotted other outlets selling petrol above N800 per litre.

As a result, checks by our correspondent on Sunday showed that other filling stations had started reducing prices in order to remain competitive in the market. From over N900 last week, many retail outlets now sell petrol below N800 per litre as motorists patronize those with lower prices.

While buyers thronged MRS and other stations with cheaper fuel, outlets selling at higher prices struggled to attract customers.

“The good thing is that there is always an MRS in almost every neighbourhood you turn to, and this has given buyers the opportunity to shun other stations to buy the cheaper Dangote petrol from MRS. This is a major concern for all traders nationwide,” a major oil marketer familiar with the development, who spoke to our correspondent in confidence in order not to be victimised, stated on Sunday.

The Ekwutosblog  reports that as of Sunday, many filling stations had effected changes in their pump prices.

For instance, SGR filling station in Ogun sold petrol at N750 per litre, while Petrocam in Mowe sold the fuel at N785 per litre. The stations struggled to compete with the N739 price offered by MRS opposite the RCCG Camp Ground. Before now, their prices were close to N900.

Heyden, known to be a partner of Dangote, had yet to lower its price, selling petrol at N875 per liter, while AP sold the product at N800 per litre. It was observed that Mobil filling stations along the Lagos-Ibadan Expressway sold petrol at N780; Akiavic, N799; Habeeb, N850; Eternal, N880; and Asharami, N890 per litre.

The fuel prices represent a significant reduction of about N100 or more compared to their previous price levels before Dangote dropped the price. However, The Ekwutosblog  reports that the reduction comes at heavy losses to both Dangote and the marketers competing with him.

Dealers suffer losses

Amid the intense competition, the Nigerian National Petroleum Company Limited also reduced petrol prices from N875 to between N825 and N840, depending on the location. The state-owned company is one of the biggest importers of petrol in November, according to a report by the Nigerian Midstream and Downstream Petroleum Regulatory Authority.

In the NMDPRA fact sheet, the NNPC, said to be the supplier of last resort, imported petrol in November to build inventory and further guarantee supply during the peak demand period.

However, at a landing cost of about N828 per litre, according to the Major Energies Marketers Association of Nigeria, importers like the NNPC would find it difficult to compete with Dangote’s N699 per litre ex-depot price and N739 per litre pump price, thereby selling the product below the landing cost.

Recall that the NNPC used to be the sole importer of petrol due to subsidies. As the Dangote refinery began petrol production a year ago, the sector was fully deregulated, and the queues that used to build up at NNPC stations because of price differentials vanished.

It was gathered that many NNPC stations in Lagos now struggle for customers who opt for lower petrol prices.

Meanwhile, as marketers said they were losing billions of naira, Dangote replied that he was also losing money. Findings by Ekwutosblog show that petrol importers are on the verge of losing as much as N102.48bn monthly following the Dangote refinery’s reduction in gantry price.

At the same time, the refinery is projected to lose about N91bn in a month as a direct consequence of the price cut, underscoring the intensity of the competition currently reshaping Nigeria’s downstream oil market.

The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, earlier said, “Marketers will lose over N80bn on this reduction. We will lose more than N80bn. And now that this reduction is there, you will see that the pump price will start dropping gradually from N900 towards N750 per litre,” he said, adding that consumers would naturally flock to stations selling cheaper fuel.

 

Ukadike urged the Dangote refinery to consider compensating marketers who bought petrol at the old rate, suggesting discounts on future purchases as a way of cushioning the losses.

Dangote, however, insisted that the refinery was also losing heavily each time it reduced prices. During the last media briefing, he disclosed that the refinery lost about N60bn in November alone after reducing gantry prices by N49.

“For the marketers, I pray, and I wish they would even lose more because I’m not printing money. I’m also losing money; it’s not that I’m making money,” Dangote said recently.

He added, “They want imports to continue. I don’t think it is right. They want to continue to dump imported petrol, so I must have a strategy of how to survive because $20bn of investment is too big to fail. We are in a situation where we will continue to play cat and mouse, and at the end of the day, somebody will give up. It is either we give up, or they will give up, and I don’t think I will give up.”

Price determines patronage

Speaking with our correspondent on Sunday, IPMAN spokesperson Ukadike stated that any marketers who refuse to reduce prices would lose their customers, saying price determines patronage.

“We are in a situation where competition can be determined by price. Patronage will be determined by pricing. Nobody is againstyou; nobody is regulating you. You will regulate yourself. The market will regulate itself. The time has gone when people were queuing at NNPC filling stations. Wherever the fuel is cheap, that is where the marketers go. So, we are in a price war. Demand and supply determine the price.

“Once Dangote has reduced the gantry price to N699, marketers will dive towards competitive pricing whereby they can retain their numerous customers; if not, interest from banks would be ‘eating’ your capital,” Ukadike said.

He announced that the association has entered into a partnership with the Dangote refinery.

“We have formed a partnership already because Dangote has invited IPMAN for the first time. The major marketers have failed Dangote. He has now realised that only the independent marketers are the strategic partners that can evacuate his petroleum products as quickly as possible. He said IPMAN should come and pick up the products. He said it clearly. And since that time, we have provided tremendous patronage,” he said.

Ukadike expressed optimism that Dangote would compensate IPMAN members for the losses incurred as a result of the sudden price drop.

“Definitely, he will do that, seeing our continuous patronage. You know, Dangote’s marketing strategy is a reward for patronage. He makes it easier for independent marketers by cutting the minimum quantity we can purchase to 250,000 litres, and you know the independent marketers constitute over 85 per cent of petrol filling stations in this country. Our members are going straight to the refinery to load petrol individually,” he disclosed.

1,000 petrol trucks

The Dangote refinery confirmed over the weekend that over 1,000 fuel trucks now flock to the facility daily to load petrol. A statement by the company said the refinery has emerged as the hub of fuel distribution in Nigeria, following “bold strategic adjustments aimed at making energy more affordable and accessible.”

This, it said, followed the significant reduction in gantry price alongside a cut in the minimum purchase requirement from two million litres to 250,000 litres. “These measures underscore Dangote refinery’s commitment to stabilising supply, fostering inclusivity, and supporting national economic growth,” the statement said.

To further reassure marketers, the refinery said it had introduced a 10-day bank guarantee system, ensuring uninterrupted supply and strengthening confidence in its operations.

“Since the announcement, the response from fuel marketers has been overwhelming. The refinery now records over 1,000 trucks loading PMS daily from its gantry, a clear testament to market trust in the Dangote refinery’s efficiency and leadership in the downstream sector.”

Aliko Dangote was quoted as saying, “Our goal has always been to make energy affordable and accessible for every Nigerian. By reducing prices and lowering the minimum purchase volume, we are empowering both large and small marketers to participate in the market, ensuring fuel reaches every corner of the country.”

It was added that the approach opens the market to smaller operators, strengthening distribution networks and improving fuel availability across the country.

“By lowering barriers to entry, Dangote refinery is driving competition and ensuring Nigerians benefit from a more stable and affordable fuel supply chain,” it was stated.

Meanwhile, in a short video on its social media handles, the Dangote Group warned Nigerians against being overcharged by other filling stations, saying petrol is now N739 per litre.

“Petrol is now selling at N739.00 per litre at MRS filling stations nationwide. Avoid being overcharged by other stations! Say no to rip-offs. Get quality petrol at MRS stations nationwide. Many other stations are joining soon,” the Dangote Group said.

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S’African court remands four cops for Nigerian motorist killing

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File photo: Court gavel

A South African court on Thursday remanded four National Traffic Police officers accused of killing a Nigerian motorist, Osinakachukwu Onu.

Ekwutosblog Metro learnt on Sunday, from a report by South African news outlet Independent Online, that the officers were denied bail by the Klerksdorp Magistrates’ Court.

The officers were identified as Inspector Rudolph Foromo, 29; Inspector Smanga Dladla, 31; Inspector Colani Senzo Dlamini, 34; and Inspector Vusumuzi Justice Simelane, 36.

 

Although the exact circumstances surrounding the shooting were detailed in the report, the officers were believed to have been on official duty at the time of the incident.

The suspects allegedly fled the scene shortly after the shooting but were later tracked down and arrested by police.

An IOL report, earlier carried by Ekwutosblog on Friday, disclosed that Klerksdorp detectives arrested the four officers on charges of murder and defeating the ends of justice following the death of the 37-year-old Nigerian.

According to the report, police said they were alerted to the incident and responded to the scene, where they discovered that the traffic officers involved had already left.

Onu, who was reportedly in South Africa legally, was said to have been chased by the four traffic officers while they were conducting an operation.

“Preliminary investigations led detectives to a location in Klerksdorp, where the suspects were traced,” the police said.

The officers’ official firearms were seized and are expected to undergo forensic ballistic analysis as part of ongoing investigations.

Meanwhile, the North West Acting Provincial Commissioner, Major General Ryno Naidoo, welcomed the arrests and commended Klerksdorp detectives for what he described as a “swift and effective response.”

He also thanked members of the public who provided information that aided the arrests and urged communities to continue cooperating with law enforcement to combat crime.

The killing adds to a growing list of reported cases of Nigerians being killed in South Africa.

In July, Ekwutosblog reported the brutal killing of two Nigerians, identified simply as Austin and Ayo, who were shot dead by unidentified gunmen in Durban.

The incident reportedly occurred on Thursday, July 9, when three masked gunmen stormed Austin’s office at about 8 pm and shot the two men dead on the spot.

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FG flags 15.2 million homes as structurally unsafe

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Minister of Housing and Urban Development, Ahmed Dangiwa

The Federal Government has revealed that 15.2 million Nigerian homes are structurally unsafe, highlighting a severe housing crisis across the country.

In a post on the ministry’s X handle recently, the Minister of Housing and Urban Development, Ahmed Dangiwa, disclosed the findings during the presentation of the National Housing Data Initiative by the National Housing Data Technical Committee in Abuja.

According to the Ministry, Kano State recorded the highest number of inadequate housing units, while Bayelsa State had the lowest, underscoring regional disparities in housing quality across the country.

He noted that the findings confirm that Nigeria’s housing challenge is both quantitative and qualitative, with national housing deficit estimates varying depending on data sources and methodological approaches.

He said, “Beyond headline deficit figures, the application of harmonised and internationally recognised methodologies now allows us to state with clarity and confidence that Nigeria currently faces a housing inadequacy problem affecting approximately 15.2 million housing units nationwide.

“The 15.2 million inadequate housing units are homes that exist physically but fall below acceptable standards of safety, habitability, access to basic services, infrastructure, and durability.

The findings were derived from the application of the Household Crowding Index, the Adequate Housing Index, and a Composite Index Methodology, supported by datasets from the National Population Commission, the National Bureau of Statistics, the Central Bank of Nigeria, and other housing sector institutions.”

The Committee was established in August 2024 to develop a harmonised national framework for housing data to support evidence-based housing policy, planning, and investment.

“These findings clearly demonstrate that Nigeria’s housing challenge is not only about building new houses but equally about upgrading existing housing stock, regenerating deteriorated neighbourhoods, improving basic services and infrastructure, and ensuring dignity, safety, and adequacy in housing outcomes,” he added.

While highlighting the importance of the findings, the minister emphasised that housing inadequacy represents only one dimension of Nigeria’s broader housing deficit.

He stressed the need to sustain the same level of analytical clarity across other critical areas, including absolute housing shortages, affordability gaps, access to land and secure tenure, availability and cost of housing finance, infrastructure and service deficits, and regional and urban–rural disparities, as well as population growth rates, urbanisation trends, household formation patterns, and demographic projections.

According to him, a holistic examination of these dimensions is necessary to accurately assess current needs, anticipate future demand, and design sustainable and responsive housing policies.

The Minister formally accepted the presentation and report of the National Housing Data Initiative on behalf of the Ministry, describing it as “a major intellectual, technical, and institutional milestone” in Nigeria’s housing and urban development reform journey.

He further disclosed that the Federal Government has commenced steps to institutionalize housing data through the establishment of a National Housing Data Centre, which will be domiciled within the Ministry in the short term and institutionalized through a Special Purpose Vehicle or statutory framework in the longer term.

According to the minister, the proposed centre will create a permanent national institution capable of supporting housing policy formulation, investment decisions, access to housing finance, and housing delivery at scale.

He commended the National Housing Data Technical Committee, led by Taofeeq Olatinwo, and acknowledged the contributions of participating institutions, including FMHUD, NMRC, NBS, NPC, CBN, FMBN, FHA, Family Homes Funds Limited, REDAN, AHCN, MBAN, HDAN, and other industry experts.

He announced that all committee members and participating institutions will be issued formal Letters of Participation and Recognition by the Ministry in acknowledgement of their contributions to the report and its outcomes.

The minister noted that the National Housing Data Initiative aligns fully with the Renewed Hope Agenda of President Bola Tinubu and strengthens the government’s capacity to support affordable and social housing delivery, deepen access to housing finance, improve investor confidence, stabilise housing markets, and monitor outcomes with credibility and accountability.

Describing the presentation as a turning point in Nigeria’s housing reform journey, the minister stressed that data is no longer peripheral to housing delivery but central to it.

“With the National Housing Data Initiative, Nigeria is better positioned to plan more accurately, invest more confidently, and deliver housing more effectively and equitably for Nigerians,” he said.

In his remarks, the Permanent Secretary, Shuab Belgore, said the report of the National Housing Data Committee would be published and circulated to all relevant agencies to formally legitimize the work carried out by the committee.

He also directed the Department of Planning, Research and Statistics to follow up on the establishment of the Data Centre in the Ministry, as earlier recommended in the report, with a mandate to ensure it is ready by mid-January 2026.

Meanwhile, the Chairman of the National Housing Data Technical Committee, Taofeeq Olatinwo, noted that the housing deficit research involved the participation of various organisations, financial institutions, and industry experts, adding that the committee collaborated with the World Bank to ensure consistency and standardisation of the data.

He explained the multidimensional index used in assessing key aspects of housing quality, including access to water, electricity, sanitation, and other basic services.

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Dangote Threatens Kaduna Businessman, Kailani Mohammed With N100bn Lawsuit

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Dangote

The President of Dangote Group, Dr. Aliko Dangote, has given Kaduna-based businessman Kailani Mohammed a seven-day ultimatum to retract a libelous publication against him and his company, warning that failure to do so will result in a N100 billion lawsuit.

Dangote, in a letter to the businessman demanded immediate public explanation, retraction and unreserved apology from the Kaduna businessman for accusing him of engaging in an unclean business especially in 1980s in Port Harcourt, Rivers State.

Dangote’s letter was served on the Kaduna businessman by his lawyer Dr Ogwu James Onoja, a Senior Advocate of Nigeria of Onoja law firm in Abuja.

In the letter dated December 20, 2025, Dangote complained that the Kaduna businessman defamed him, lowered his reputation and tarnished his business engagements with the accusation that he engaged in unclean business in Port Harcourt and also queried his source of wealth as the richest man in Africa.

The offending remarks were said to have been made by Engr. Kailani Mohamed during an interview aired on Wednesday December 17th, 2025 on TrustTV news in reaction to his petition against Dr Farouk Ahmed submitted to independent Corrupt Practices and other Related Offences Commission ICPC.

The letter is titled “Demand for public explanation, retraction and unreserved public apology on your libelous publication against Alhaji Aliko Dangote, GCON” and signed by Dr. Ogwu James Onoja SAN.

It read “We are solicitors to Alhaji Aliko Dangote and we write pursuant to his express instructions regarding grievously libelous statements broadcast by TrustTV news and uttered by you during an interview aired on Wednesday, 17th December, 2025 in reaction to the petition submitted by our client to Independent Corrupt Practices and other Related Offences Commission (ICPC).”

“Our client is a widely reputable international businessman. He is the richest black man on earth and he has the largest business conglomerate in Africa.

“Our client, through dint of hard work, integrity, diligent and perseverance over the years earned for himself the reputation and honour he is reckoned with all over the world.

“Our client’s attention has been drawn to statements made by you during the televised broadcast on TrustTV on the aforementioned date in reaction to our client’s petition submitted to Independent Corrupt Practices and the other Related Offences Commission (ICPC) to investigate and possibly prosecute Engr. Farouk Ahmad if found wanting, wherein you made false, reckless, malicious, scandalous and libelous publications concerning our client as a man that has monopolistic tendencies, corruptly enriched himself in business and engaged in economics cerbutach.

“Your statement also portrayed our client as a very cruel businessman whose stock in trade is vendetta and campaign of calumny to bring down others and exert monopolistic powers.

Among others you started as follows: “Can Dangote tell us the source of his money in the 80s when he was in Port Harcourt. Who is clean? Every time you want to monopolize, you bring allegations against people. Let him come and prove it. In the 80s we are aware of what happened in Port Harcourt and how he got his money. Nobody came out and said all these things”.

“These statements are false, scandalous and gravely deliberately impute unlawful or morally questionable conduct to our client and are calculated to expose him to public hatred, ridicule, suspicion and odium.

“By your reckless and unguarded defamatory statement and assertions, our client’s reputation has been greatly lowered in the sight of reasonable members of the International Community, including his business partners, associates and various governments of nations of the world where our client carries on business.

“Take Note that our client categorically states that at no time in his life has he carried out any business, commercial activity or wealth generating enterprise in Port Harcourt, whether in the 1980s or at any other period whatsoever as you alleged.

“Your assertion are therefore entirely fictitious, unfounded, malicious and without doubt, render you susceptible to both civil and criminal defematory action.

“In view of the gravity and depth of the allegations made by you against our client, you are hereby demanded to do the following within 7 days upon receipt of this letter:

“That you publicly explain on the same TrustTV platform and to the same audience, when, where and in what capacity our client was allegedly involved in any unclean activity or any activity whatsoever in Port Harcourt as claimed by you.

“That in the absence of verifiable facts capable of substantiating your assertions, you immediately and unequivocally retract the said statement in their entirety.

“That you issue a full, clear and unreserved public apology to our client which must be broadcast with equal prominence as your original publication.

“To pay our client the N100Bn only in damages for loss of reputation, character defamation and public redicule our client has been subjected to since the said statements were published.

“That you give a written undertaking to desist from making or publishing any further false or defamatory statements concerning our client.

“Be advised that allegations of this nature made without proof on a national media platform are indefensible in law and amount to a gross abuse of the right to freedom of expression which will culminate in both civil and criminal liability.

“Take further notice that should you fail to comply with the conditions stated above and within the time frame, our client shall, without further recourse to you, institute a legal action at a competent court of law against you and claim aggravated damages.

“This is without prejudice to our client’s right to make a formal report against you to the law enforcement agencies for your investigation and and prosecution for criminal defamation,” the letter said.

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