News

Dangote Refinery Begins Direct Petrol Sale To Marketers

Published

1 year ago

October 24, 2024

The Dangote Petroleum Refinery has started supplying Premium Motor Spirit, popularly called petrol, to some oil marketers directly without recourse to the Nigerian National Petroleum Company Limited.

It was gathered that while more oil marketers were intensifying efforts to buy the product directly from the plant, others were importing the commodity, as hundreds of millions of litres of imported PMS should hit Nigeria’s shores in two weeks’ time.

Recall that The PUNCH reported on Monday that no fewer than four vessels carrying imported PMS arrived at seaports situated along the nation’s borders between Friday, October 18, and Sunday, October 20.

The report cited a document obtained from the Nigerian Port Authority, which showed that about 123.4 million litres of PMS were berthed at two seaports to improve fuel supply nationwide.

The development confirmed an earlier exclusive report by The PUNCH, which disclosed that oil dealers intend to import the commodity to supplement the supply from the $20bn Dangote refinery.

Meanwhile, as major oil marketers import the commodity, their counterparts have started lifting PMS directly from the Lekki-based plant.

A senior official at the refinery said marketers are now allowed to approach the company for direct business transactions on a willing-buyer, willing-seller basis.

“Marketers are already coming to the refinery to lift PMS. They are lifting directly from the refinery, not through a third party,” the reliable official, who spoke in confidence due to lack of authorisation to speak on the matter, stated.

The source, who could not tell the price at which marketers were lifting the product, noted that the oil dealers would not come if the price was not favourable to them.

“We have reached agreements with some of the marketers and more are still ongoing. I don’t know the exact price, but if the price is not good, the marketers would not be coming to us,” the official stated.

He maintained that things are improving, especially as the Federal Government commenced the supply of crude to the facility.

Another official at the facility showed one of our correspondents the trucks of some marketers loading the product directly from the plant without going through NNPC.

“Some of the trucks you saw there today were from marketers purchasing the product directly from Dangote, without recourse to NNPC. So the direct sale has started,” the source stated.

The official explained that due to the high demand for petrol in Nigeria and other countries, the refinery had focused on ensuring 53 per cent of PMS production from its crude oil supplies.

“This could be reviewed in future if the demand for other finished products increases more than the demand for petrol, but right now about 53 per cent of our crude is used for petrol production, while other products account for the remaining percentage,” the official stated.

When asked if marketers had started the direct purchase of petrol from Dangote without recourse to NNPC, one of the notable major marketers in the country replied in the affirmative.

“Yes, everyone is in the process. This was advised that it would happen soon and is a normal business transaction,” the source stated.

But this is contrary to claims from some quarters that the refinery would not be able to sell petrol to marketers unless the deal between it and the NNPC is terminated.

Recall the company had initially announced that the NNPC would be the sole off-taker of its petrol from September 15.

A source at the refinery said this was as decided by the Federal Government. The source said he was taken aback when the Technical Subcommittee on Domestic Sale of Crude Oil in Local Currency announced on October 11 that marketers should now lift petrol directly from the refinery.

“Moving forward, petroleum product marketers are now able to purchase PMS directly from local refineries without the intermediary role of NNPC. Marketers are encouraged to initiate direct purchases from refineries on mutually negotiated commercial terms, which will promote competition and improve market efficiency,” the Minister of Finance, Wale Edun, who heads the committee stated in a statement.

As the committee made the announcement, operators said the market had been fully deregulated and they would approach the refinery to apply for PMS lifting.

Recall that the Vice President of the Independent Petroleum Marketers Association of Nigeria, Hammed Fashola, recently led other officials of the association to a meeting with the Vice President of the Dangote Industries, Devakumar Edwin, in Lagos.

Though Fashola did not give much updates about the meeting with Edwin, he appreciated him for the roles he had been playing.

“Edwin received us very well and promised to make things easier for IPMAN to do business with Dangote,” he said.

Fashola added, “We had a fruitful discussion with the group. We have started discussing modalities and other logistics. IPMAN has agreed to work with Dangote. We hope very soon we will start lifting products from the facility.”

However, IPMAN said it could not commence the immediate off-take of the product unless the refinery ends its contract with the NNPC.

But officials at the refinery stated that the refinery was now selling PMS to some marketers.

When the Dangote refinery began the sale of PMS on September 15, the NNPC said it bought the product at the rate of N898/litre; a claim the refinery described as mischievous.

The refinery said the naira-for-crude committee would be the one to announce the price of its PMS. The committee has yet to do so as of October 22.

News

Nigerian Army Promotes 28 Brigadier Generals, 77 Colonels

Published

5 minutes ago

November 29, 2025

Editor

The Nigerian Army has approved the promotion of 28 Brigadier Generals to the rank of Major General and 77 Colonels to Brigadier General, in a significant reshuffle of its senior leadership.

The decision was announced by the Acting Director of Army Public Relations, Lieutenant Colonel Appolonia Anele, on the Nigerian Army’s X on Friday.

Among those elevated to Major General are Brig Gen O Adegbe of the Defence Intelligence Agency, Brig Gen SM Uba, Director of Defence Information, Brig Gen RE Hedima, Acting Chief of Military Intelligence Army, and Brig Gen RT Utsaha, Deputy Director of Defence Operations.

Others include Brig Gen AM Umar, Commandant of the Warrant Officer Academy, Brig Gen S Sulaiman, Deputy Military Secretary (Army), Brig Gen IO Bassey, Director of Nigerian Army Operations Centre, and Brig Gen CA Ekeator of the Nigerian Army School of Electrical and Mechanical Engineering.

Also promoted are Brig Gen SY Yakasai, Acting Director Procurement in the Office of the Chief of Army Staff, Brig Gen WL Nzidee of Army Headquarters Department of Army Logistics, Brig Gen SA Emmanuel of the Nigerian Army Signals, Brig Gen SS Tilawan, Acting Commander Sector 3 Joint Task Force, North East Operation HADIN KAI, Brig Gen MO Agi, Desk Officer Tertiary Education Trust Fund at the Nigerian Defence Academy, and Brig Gen IM Abbas, Commander 34 Brigade.

Brig Gen ZA Saidu was promoted posthumously in recognition of his service.

Promotions from Colonel to Brigadier General include officers serving across key army units and institutions, such as the Nigerian Army Resource Centre, Armed Forces Command and Staff College Jaji, Army Headquarters departments, Special Forces Brigades, and several military hospitals.

In his remarks, Chief of Army Staff (COAS), Lt Gen Waidi Shaibu, congratulated the officers and their families, urging them to intensify their professional drive and prove that their elevation is well-deserved.

He emphasized the need for exemplary leadership, inspiring subordinates through personal conduct, and adopting bold, innovative solutions to address evolving security challenges.

Shaibu further stressed the officers’ sacred duty to uphold their oath of allegiance and maintain absolute loyalty to the Constitution, reinforcing the army’s commitment to defending the territorial integrity of the nation.

The promotions mark a strategic boost to the Nigerian Army’s senior leadership, aiming to strengthen operational efficiency and enhance the military’s response to national security threats.

News

Sanwo-Olu Offers Lagos Rice At N57,000 Per 50kg

Published

7 minutes ago

November 29, 2025

Editor

Lagos State Governor Babajide Sanwo-Olu has revealed that the price of rice has dropped significantly in the market, adding that he is personally ready to sell Lagos-produced rice for N57,000 to N58,000 per 50kg bag.

Speaking at the 60th Annual Bankers’ Dinner of the Chartered Institute of Bankers of Nigeria in Lagos on Friday, Sanwo-Olu cited the falling price of rice as evidence that the country’s inflation outlook is improving.

According to a recent report by The PUNCH, the National Bureau of Statistics, in its Selected Food Prices Watch report for September 2025, said that the prices of beans, garri, maize, tomatoes, beef, rice, and other food items witnessed a slight decrease in September 2025.

Also, the latest Consumer Price Index from the NBS indicated a slight easing in food prices, with food inflation declining by 0.37 per cent month-on-month.

Speaking at the event, Sanwo-Olu said, “Clear examples about this time last year, we were struggling to buy a bag of rice, today in the same country, in the same market, you go to the price of a 50kg is under N60,000.”

Highlighting Lagos production capacity, the governor said he operates the country’s largest rice mill and currently holds a significant stock.

He stated, “In fact, I am the largest… I have the largest rice mill in the country. I’ve got over 200,000 bags, and I was convincing my colleagues a couple of days ago, and I’m ready to sell my… at N57,000, 58,000.”

Sanwo-Olu described the ongoing price decline as a direct benefit to Nigerians, saying, “Real drop in the market. That is real growth, innovation and real growth in our citizens. The reduction in inflation numbers is real and positive.”

The governor linked the improvement in rice affordability to broader macroeconomic reforms and a more disciplined monetary environment, crediting recent changes for stabilising prices and easing pressure on households.

He continued his remarks by commending the Central Bank of Nigeria’s regulatory stance and its impact on inflation, foreign exchange stability, and investor confidence, while assuring the financial sector of Lagos State’s ongoing infrastructural and economic support.

The governor extended appreciation to President Bola Tinubu for giving the CBN Governor, Olayemi Cardoso, the room to operate.

He said, “I think we should thank the president and commander in chief of the armed forces of the country, for choosing him, but not just for choosing— for allowing him to do the work, for allowing him to play this role.”

Sanwo-Olu reassured the banking industry of Lagos State’s consistent support through infrastructure development, security upgrades, and digital initiatives.

He told the audience, “We are indeed grateful and happy with the level of relationship we have built, the commitment that we continue to give to you in the bank sector through our investment in infrastructure.”

He referenced the state’s massive rollout of street lighting as part of its urban security plans:
“As you drive back and see how many of the LED solar street lights that we’re placing on your street and your corners.”

The governor also highlighted the state’s recent success in the financial markets, announcing the oversubscription of its latest bond issuance.

He said, “Just a week ago, as typical of Lagos, we raised the largest sub-national conventional bond. The race went to market to raise N200m. The conventional bond was oversubscribed by over 60 per cent.”

He added that Lagos also floated a green bond:
“On another note, we were also the first to raise the green bond and sub-national.”

Sanwo-Olu urged the banking community to continue upholding ethics, innovation, and customer-centric thinking.

“Commitment is not only to professionalism, but our commitment also must be to ethical conduct. Must also be customer-centric. We must continue to innovate,” he affirmed.

News

FG To Unveil Digital Single Travel Emergency Passport January

Published

23 minutes ago

November 29, 2025

Editor

LThe Federal Government has announced that the Single Travel Emergency Passport (STEP) will be launched in January 2026, offering a digital solution to assist Nigerians abroad who lose their passports.

Minister of Interior, Dr. Olubunmi Tunji-Ojo, made the announcement on Friday in Abuja during the launch of the ECOWAS Biometric ID Card.

He said the new system will allow citizens to generate an emergency travel document using any mobile device, eliminating the need to visit an embassy in person.

“This initiative will enable Nigerians abroad who lose their passports to generate an emergency travel document using any mobile device without visiting an embassy,” Tunji-Ojo said.

He urged Nigerians to trust the government’s capacity to tackle national challenges and called for collective support for ongoing security reforms.

The STEP is expected to complement other digital identity initiatives, including the recently launched ECOWAS National Biometric Identity Card (ENBIC), which facilitates travel within West Africa and strengthens border security.

Earlier this month, the NIS announced that it will introduce the Single Travel Emergency Passport to replace the Emergency Travel Certificate.

The NIS explained that the document will be issued at designated Nigerian embassies and consulates and will be valid for a single entry.

The Service said the initiative forms part of wider reforms to strengthen border governance, enhance identity management, and align its operations with international migration standards.