Business
Oil Business Not Like Selling Cement, Sugar – Fani-Kayode Tackles Dangote
The former Nigerian Minister of Tourism, Femi Fani-Kayode, has tackled critics of the Nigerian National Petroleum Company Limited upon the recent revival of Port Harcourt Refinery.
This comes as he alleged that some elements within the private sector in the oil and gas industry want to undermine and understate the revitalisation of the Port Harcourt Refinery.
Fani-Kayode made this known in a statement on his official X handle on Thursday, noting that the oil business is not the same thing as selling sugar, spaghetti, and cement, tackling Aliko Dangote, president of Dangote Refinery.
His comments come amid claims against the viability of Port Harcourt Refinery after NNPCL announced that the plant has begun trucking out petroleum products on Tuesday.
Recall that Timothy Mgbere, Secretary of the Alesa community stakeholders, in an interview on Arise Television on Thursday alleged that Port Harcourt Refinery trucked sold out old stock, not freshly refined petroleum products.
However, Fani-Kayode fingered some elements in the private sector of the industry as responsible for the campaign of calumny to discredit the Group Managing Director of NNPCL, Mele Kyari, and President Bola Ahmed Tinubu over the commencement of Port Harcourt Refinery after years of being in comatose.
He stressed that the Port Harcourt Refinery is a great victory for Nigeria.
According to him, what Nigerians need is for NNPCL refineries to flourish, and the same for Dangote Refinery and others.
He said, “The resurrection of the PH refinery is one of the most encouraging things that has happened in the petroleum sector for many years, and the credit for this must go to the President and the GMD of NNPC.
“It is a pity that some elements in the private sector who are new in the field are doing all they can to undermine and understate this great victory for Nigeria.
“The oil business is not the same as selling sugar, spaghetti, cement, or rice, and no matter how hard you try, you cannot muscle your way and create a monopoly on the sale of refined products as you did for other commodities over the years.”.
He added: “NNPC will go from strength to strength, and once its other refineries are working as well, Nigerians will have cause to smile again. Let the new kid on the block flourish, but let the NNPC refineries flourish too. That should be our goal and not a squalid attempt to discredit NNPC and its leadership.
“Every optimistic and true lover of Nigeria’s progress and President Tinubu’s renewed hope agenda must be proud of the GMD Mele Kyari. His tenacity, bravery, ingenuity, and forthrightness have been rewarded with this great feat. Surely this is hope renewed for Nigerians.”.
Ekwutosblog recalls that on Tuesday the NNPCL announced the commencement of petroleum product production at the Port Harcourt 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.
-
Business1 year ago
US court acquits Air Peace boss, slams Mayfield $4000 fine
-
Trending1 year agoNYA demands release of ‘abducted’ Imo chairman, preaches good governance
-
Politics1 year agoMexico’s new president causes concern just weeks before the US elections
-
Politics1 year agoPutin invites 20 world leaders
-
Politics1 year agoRussia bans imports of agro-products from Kazakhstan after refusal to join BRICS
-
Entertainment1 year ago
Bobrisky falls ill in police custody, rushed to hospital
-
Entertainment1 year ago
Bobrisky transferred from Immigration to FCID, spends night behind bars
-
Education1 year ago
GOVERNOR FUBARA APPOINTS COUNCIL MEMBERS FOR KEN SARO-WIWA POLYTECHNIC BORI
