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Nigeria to end petrol import as Dangote reduces price
The era of importation of premium motor spirit, PMS, into Nigeria may be coming to and end following a fresh cut in the ex-depot price of the product by the Dangote Petroleum Refinery, which slashed its gantry price by 49 per litre last Friday.
On Monday, major and retail marketers, in separate interviews, admitted that the latest price adjustment has significantly altered the dynamics of fuel supply and competition in the downstream market.
The latest price cut also comes amid the Federal Government’s 15 per cent import tariff on refined fuel, a policy that is expected to further widen the price gap between imported petrol and locally refined products, in favour of the latter.
Industry operators said the move could make petrol imports increasingly unviable, as marketers would struggle to match Dangote’s lower prices and remain profitable.
However, some marketers cautioned that importation remains a vital part of Nigeria’s fuel supply chain, warning that any attempt to halt imports could trigger product shortages across the country.
Last week, the latest price data from Petroleumprice.ng showed that Dangote Refinery reduced its gantry price of Premium Motor Spirit (petrol) by N49 per litre.
The refinery now sells petrol at N828 per litre, down from N877, representing a 5.6 per cent decrease, marking the refinery’s second major adjustment in three months as it responds to market realities and efforts to stabilise domestic supply.
Reacting to this, the Executive Secretary of the Major Oil Marketers Association of Nigeria, Clement Isong, said the latest pricing by Dangote Petroleum Refinery could make fuel imports unviable in the short term.
“It would stop imports now, definitely, since imports are higher than Dangote’s price. That is the logical thing, isn’t it?” Isong said.
He noted that Dangote, like any private refiner, has the discretion to price its products as it sees fit, often referencing import parity pricing, the cost of bringing fuel into Nigeria from abroad.
He explained that import parity is not a fixed price but a range, noting that the cost of bringing petrol into the country varies depending on the source.
“Dangote, barring any regulatory intervention by the authority, can price his product any way he wants. And that’s what he has been doing. He has his reasons for pricing it the way he does, probably for market reasons. But under normal circumstances, it is not unusual that he will have an eye on import parity prices. Import parity means the cost at which products are brought into the country. Now, import parity is not one price. Import parity is a range of prices. So first of all, whether I am buying from Northwestern Europe or I am buying from offshore Togo, gives me different prices. And I can have different prices from those two markets on the same day.
“What we do is for references; you use either Argus pricing or S&P pricing to give you an idea of what the price is. But when you go to the market, you might buy something more expensive or cheaper. Now, if you, depending on the volume that you are bringing in, can get significant reductions, discounts, or premiums. If I bring it into a facility that has a sizable draft. Draft means you can take a big vessel. And then the tanks inside are also big. I can benefit significantly from lower prices related to freight costs.
“Similarly, if I take it in smaller parcels to smaller facilities where the draft is not so deep and where the central tank is not so big, I can be buying it at a higher price. What we call in the business a premium. So, what we publish, we try to explain. These are the assumptions. People can also bring it in cheaper, or people can bring it in more expensive. People who are going to Pinnacle, for instance.”
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Nigeria’s human rights body demands accountability over recurrent civilian casualties from military airstrikes
The National Human Rights Commission has expressed deep concern over the recurrent incidents of military airstrikes reportedly resulting in significant civilian casualties across different parts of the country, describing the development as troubling and incompatible with established human rights and humanitarian law standards.
The Executive Secretary of the Commission, Dr. Tony Ojukwu OFR, SAN, who stated this in a statement on Wednesday, said while the fight against insurgency, banditry, and other forms of insecurity remains a legitimate responsibility of the Nigerian State, such operations must at all times be conducted in strict compliance with the Constitution of the Federal Republic of Nigeria, international human rights obligations, and international humanitarian law principles.
According to the statement which was signed by Fatimah Agwai Mohammed, Director, Corporate Affairs and External Linkages, Ojukwu said repeated reports of civilian deaths and injuries, including women, children, and other vulnerable persons, arising from aerial bombardments raise serious concerns regarding the protection of the right to life, human dignity, and the obligation of State actors to exercise precaution and proportionality during security operations.
The Commission therefore calls on the Nigerian Air Force to provide a comprehensive explanation regarding the circumstances surrounding these incidents and the measures being taken to prevent further loss of innocent civilian lives.
“Nigerians deserve to know why this has become a recurring decimal, in April and May alone we have recorded the following casualties, in April Jilli market Yobe, in May Shiroro market Niger, again in May Tumfa market in Zamfara, for how long will this continue?” The Chief Human Rights Officer asked.
The NHRC Cheif emphasized that the principles of distinction, necessity, proportionality, and accountability are fundamental obligations under international humanitarian and human rights law and must guide all military engagements, particularly in conflict-affected communities.
Dr. Ojukwu noted that civilian lives must never be treated as collateral damage and urged security agencies to strengthen intelligence gathering, operational safeguards, and accountability mechanisms in order to minimize harm to non-combatants during military operations.
He further called for prompt, transparent, and independent investigations into all reported incidents of civilian casualties resulting from airstrikes, with a view to ensuring accountability, justice for victims, and adequate remedies, including compensation and psychosocial support for affected families and communities.
The NHRC reiterated that national security objectives and human rights protection are not mutually exclusive, stressing that sustainable peace and public trust can only be achieved where security operations are carried out within the bounds of legality, accountability, and respect for human dignity.
Ojukwu reaffirmed the Commission’s commitment to monitor the situation closely and engage relevant authorities and stakeholders to ensure the protection and promotion of the rights of all persons in Nigeria.
News
“I’m still with APC,” Fubara declares
River State Governor, Sir Siminalayi Fubara on Wednesday, broke his silence over widespread speculations that he had defected from the All Progressives Congress (APC) and joined the Nigeria Democratic Congress (NDC) in the ongoing realignment of political forces ahead of the 2027 General Elections..
Governor Fubara made the clarification during an inspection tour of the newly constructed General Hospital and the fully remodelled Neuropsychiatric Hospital, both in Rumuigbo, Obiakpor Local Government Area of Rivers State.
According to Onwuka Nzechi, Chief Press Secretary to the Governor, Fubara said that contrary to the erroneous reports in a section of the media in the last couple of days, suggesting that he had joined another political party, he remained a member of the ruling party and will continue to work for the overall interest of the party.
“I know that there have been a lot of drama in the media; one story or another. I am a member of the All Progressives Congress (APC) and nothing has changed. People should stop using whatever situation that they pick up from the social media or their own interpretation of any situation to present me wrongly.
“I’ve not gone anywhere; I’m still a member of the APC and I remain a member. Whatever happens, what is important is supporting the overall interest of the party,” he said.
Governor Fubara was conducted round the facilities by the Director of Medical Services in the Rivers State Ministry of Health, Dr. Vincent Wachukwu, who led him through the hospital wards, a conference hall, ICT centre, students hostel, staff quarters, and other critical sections.
He expressed delight at the completion of the two projects which according to him, were conceived to address critical needs in the health sector in the state. He recalled that the while the rehabilitation of the Psychiatric Hospital became necessary at some point, the administration also discovered that the area had no General Hospital to take care of the basic health needs of the people.
“This very project, if you could remember, when we came in we had an issue that required our sudden visit and it had to do with mental health. So when we came here for the inspection of the Rehabilitation Centre that the board was trying to put together, we found out that we had more issues than even the mental health issue.
“We didn’t have a General Hospital to serve the people within this area. The closest medical center that they had here was the University of Port Harcourt Teaching Hospital ( UPTH) which is very far from here. We felt that with the space we have in this compound, it will be proper for us to also have a General Hospital situated in this particular facility to take care of the neighboring communities up to Rumuola, Rumuolumeni and all the surrounding areas.
“Today, to the glory of God, we can see that the project is already completed. It is not 95 percent complete, it is a hundred percent completed.
We’re happy because, it is a promise made and a promise fulfilled. Like I’ll always say, what is important is doing what will touch the life of our people. Our people should be first and that is how important this project is for us in this administration,” he said.
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NiMet partners CBN on data sharing to improve economic policies
Photo caption: DG/CEO of NiMet, Prof. Charles Anosike (left) Dr. Mohammed Sani Abdullahi, Deputy Governor, Economic Policy Directorate (CBN) signing the partnership MoU.
The Nigerian Meteorological Agency (NiMet) and the Central Bank of Nigeria (CBN) on Wednesday, May 13, 2026, signed a landmark Memorandum of Understanding (MoU) on data sharing.
While NiMet’s team was led by its Director General/CEO, Prof. Charles Anosike, Dr. Mohammed Sani Abdullahi, Deputy Governor, Economic Policy Directorate, was head of CBN side. The MoU was signed at the apex bank’s Head Office in Abuja.
Speaking at the event, Prof. Charles Anosike highlighted the importance of integrating weather and climate data into economic research, especially in sectors such as agriculture, energy, and transportation. He noted that extreme weather events can reduce agricultural productivity and threaten food security.
He added that the collaboration aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu GCFR, which prioritizes food security through major agricultural investment, including the cultivation of 10 million hectares of land and the distribution of mechanised equipment.
Prof. Anosike cited the World Bank (2026), which reports that extreme weather driven by climate change is significantly affecting global food security, with more than 87 million people facing hunger in East and Southern Africa and 52 million in West and Central Africa. He also referenced the Berkeley Earth Report (2026), which projects that 2026 is likely to be the fourth warmest year on record, a trend that continues to shape agricultural and energy market projections.
In his remarks, Muhammad said the signing of the MoU marked an important step in strengthening the partnership between two key national institutions whose mandates intersect in data, research, and policy support. He emphasized that, in an increasingly complex and dynamic economic environment, timely and reliable data remain essential for effective policy decisions.
He further noted that the Economic Policy Directorate relies heavily on timely and credible statistical information from NiMet. Such data, he said, are critical for inflation monitoring, agricultural sector assessment, and broader economic policy advisory functions. He described the initiative as both timely and important, adding that strong institutional partnerships are essential for strengthening evidence-based policymaking and improving the robustness of national data systems.
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