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Dangote intervenes again, slashes fuel price by N100, says no more scarcity in Nigeria
Dangote Petroleum Refinery has again, intervened to save Nigerians from the sharp rise in cost of petroleum products caused by the raging war between the United States and Israel on one side against Iran
As part of its intervention, Dangote Refinery has announced a major reduction in the prices of Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (AGO), also known as diesel.
Under the new pricing framework, the gantry price of PMS has been lowered from ₦1,175 to ₦1,075 per litre—a reduction of ₦100. The coastal price has also been adjusted downward from ₦1,150 to ₦1,028 per litre, representing a ₦122 decrease. Diesel prices have similarly been reduced from ₦1,620 to ₦1,430 per litre, amounting to a ₦190 cut.
This decision underscores our commitment to maintaining a pricing structure that remains sensitive to global market trends and reflective of our principles of fairness and transparency.
The refinery noted that as a company operating under strict governance standards and strong ethical values, it is important for us to ensure our pricing aligns with the ongoing decline in global crude oil prices. All crude processed at the refinery is purchased at the global benchmark price, plus a premium of $3 to $6. Foreign exchange payments are made at the prevailing market rate, with no subsidies applied to either crude or forex. Additionally, crude supplied through the Naira‑for‑Crude arrangement is priced in line with the global benchmark plus premium and converted to naira using the current exchange rate.
In 2025 alone, we reduced our gantry prices on no fewer than eight occasions, increasing them only twice—an effort rooted in economic patriotism and our responsibility to the Nigerian people. We remain committed to ensuring that any cost advantages are passed on to consumers across the 36 states and the Federal Capital Territory.
Recently, the Managing Director of Dangote Petroleum Refinery, David Bird, assured Nigerians that the refinery will continue to meet the nation’s fuel demand despite turbulence in the global oil and gas market. He noted that while fuel‑import‑dependent nations are experiencing panic buying and rationing, Nigeria will not face similar conditions because of the refinery’s unwavering commitment to ensuring nationwide fuel availability.
Bird highlighted that the refinery continues to supply uninterrupted fuel to the domestic market even as geopolitical tensions in the Middle East have triggered sharp increases in crude prices, freight charges, and insurance costs. He described the recent spike in crude markets as unprecedented, pointing out that oil surged from the mid‑$60 range to nearly $120 per barrel in just one week—disrupting every segment of the global energy supply chain.
While acknowledging that the refinery is not insulated from global price fluctuations, freight volatility, or rising insurance premiums, Bird emphasized that Nigeria now enjoys a significant advantage: a secure fuel supply driven by domestic refining capacity.
“What would be worse than $120 oil is no oil,” he noted, stressing that several countries are now rationing fuel due to total dependence on imports. He added that even nations with strong refining sectors have begun restricting fuel exports to protect their domestic markets amid the ongoing global supply shock.
Bird reaffirmed that as long as the refinery continues to receive crude from the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL), it will remain fully committed to supplying the domestic market.
“With the continued support of the government and uninterrupted access to local crude supply, Dangote Refinery will consistently meet all of Nigeria’s refined fuel requirements,” he assured.
The David Mark-led faction of the African Democratic Congress (ADC) has approached the Court of Appeal to challenge the Federal High Court judgement that removed its leadership.
The opposition party also disclosed that it had filed an application seeking a stay of execution of the judgement pending the hearing and determination of its appeal.
The party made this known in a statement on Friday, November 6, adding that it had formally notified the Independent National Electoral Commission (INEC) of the legal steps taken,
The appeal is against the judgement delivered by the Federal High Court in Abuja on November 5, 2026, in Suit No. FHC/ABJ/CS/1619/2025, involving Hon. Nafiu Bala Gombe and the ADC.
The party urged INEC to refrain from taking any further action on the matter until the Court of Appeal has considered the case.
It argued that the application for a stay of execution was yet to be decided and that the electoral commission should not take any step that could affect the outcome of the appeal.
According to the ADC, it expects INEC to respect the ongoing legal process and allow the appellate court to hear the matter before making any decision connected to the judgement.
The statement partly read, “The ADC is exercising its lawful right to appeal. The judgement is now being challenged before a higher court, and the legal process must be allowed to run its course.
“We expect INEC to uphold the law and take full account of the pending proceedings before making any consequential decisions.”
The party also urged its members and supporters to remain calm, insisting that the court judgement would not stop its political activities.
It said its campaigns would continue while it explored all available legal options to defend its position.
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The Federal High Court in Abuja has nullified the leadership of the African Democratic Congress (ADC) led by Senator David Mark, declaring the caretaker committee that oversaw the party’s affairs illegal and invalidating all decisions taken by the committee.
The judgment, delivered on Thursday by Justice Peter Lifu, also affects the presidential primary that produced former Vice President Atiku Abubakar as the ADC’s flag bearer for the 2027 general elections.
Atiku, whose name had earlier been published by the Independent National Electoral Commission (INEC) as the party’s presidential candidate, had already selected former Rivers State Governor, Rotimi Amaechi, as his running mate.
The ruling followed a suit instituted by Nafiu Bala Gombe, a former National Deputy Chairman (North-East) of the ADC, who challenged the process through which the David Mark-led leadership assumed control of the party.
Gombe argued that following the resignation of the party’s former National Chairman, Chief Ralph Nwosu, he was constitutionally entitled to take over the leadership.
He consequently asked the court to invalidate all actions undertaken by the Mark-led leadership and restrain Senator Mark and Ogbeni Rauf Aregbesola from presenting themselves as the party’s National Chairman and National Secretary, respectively.
The plaintiff maintained that their emergence violated the ADC constitution and relevant provisions of the Electoral Act.
In suit No. FHC/ABJ/CS/1819/2025, the ADC, INEC, Senator David Mark, Aregbesola and Chief Ralph Nwosu were listed as defendants.
Justice Lifu upheld Gombe’s claims and granted the reliefs sought, effectively invalidating the authority of the caretaker committee and decisions taken under its leadership.
The verdict is expected to trigger fresh political uncertainty within the ADC, particularly over Atiku’s presidential ambition and the party’s preparations for the January 16, 2027 presidential election.
However, the party has vowed to challenge the judgment at the appellate court.
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