News

Dangote Refinery Begins Direct Petrol Sale To Marketers

Published

10 months 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

Edo Sports Commission Boss Celebrates Okpehbolo On Birthday

Published

3 hours ago

August 29, 2025

Editor

The Executive Chairman of the Edo State Sports Commission, Hon. Amadin Desmond Enabulele, has felicated with Governor Monday Okpebholo, on the occasion of his birthday.

In a statement issued on Friday by his Media Officer, Edoko Wilson Edoko, Enabulele Okpebholo as a visionary leader whose dedication to the growth and development of the state has continued to inspire confidence and admiration across all sectors, especially sports.

Enabulele, who highlighted the governor’s unwavering commitment to youth empowerment through sports development, noted that under his leadership, Edo State has witnessed significant strides in grassroots sporting initiatives and infrastructure.

“His Excellency, Senator Monday Okpebholo, is not just a political leader but a beacon of hope for the younger generation.

“His passion for excellence and inclusive governance is evident in the way he has continued to support policies that uplift our youths and promote sporting excellence,” the statement read.

The Executive Chairman prayed for long life, good health, and continued wisdom for the governor as he steers the affairs of the state towards greater prosperity.

“On behalf of the entire Edo State Sports Commission, I extend our warmest birthday wishes to His Excellency at 55. May this new chapter of his life be filled with more accomplishments and divine grace,” he added.

News

Oba Of Benin Suspends Palace Chiefs

Published

14 hours ago

August 28, 2025

Editor

The Oba of Benin, Ewuare II, has suspended two of his chiefs for falling for dereliction of duties.

This was contained in a statement signed by the Secretary to the Benin Traditional Council (BTC), Frank Irabor and made available to journalists in Benin City.

He said their suspension was as a result of their long absence from the palace, resulting in their failure to carry out their palace responsibilities.

The suspended persons are: Chief John Igiehon, the Izuwako of Benin and chief Aimiukpomonyako Oghogho (Ebengho), the Oyenmwensoba of Benin.

“The under-mentioned two (2) chiefs have been suspended from the Palace of the Oba of Benin.

“This is as a result of their long absence from the Palace, resulting in their failure to carry out their Palace responsibilities.

“The public is advised to be wary of unscrupulous chiefs that are no longer functioning in the Palace. His Royal Majesty has approved their _ Suspension and directed the public be duly informed.

“The names of the chiefs are: – ; 1. CHIEF JOHN IGIEHON, THE IZUWAKO OF BENIN and, _ 2 CHIEF AIMIUKPOMONYAKO OGHOGHO (EBENGHO), THE OYENMWENSOBA OF BENIN”, the statement said.

News

Lawyers Fault EFCC Statement, Say It’s Misleading

Published

15 hours ago

August 28, 2025

Editor

Some legal practitioners in Bauchi state have faulted the Economic and Financial Crimes Commission (EFCC) official statement about their client on Wednesday, adding that it was erroneous, false and misleading.

It could be recalled that EFCC posted on its official Facebook handle that a Bauchi State High Court has cleared the commission to proceed with its investigation of a former Chairman of the Peoples Democratic Party in Bauchi State, Hamza Koshe, and his company, Pentech Engineering Nigeria Ltd.

According to the EFCC statement, the commission said Justice Aliyu Baba, in a judgment delivered on July 30, 2025, dismissed an application by Koshe seeking to restrain the EFCC and the Independent Corrupt Practices and Other Related Offences Commission from probing him.

However, in a statement jointly signed and made available to newsmen in Bauchi on Thursday by Jibrin S. Jibrin Esq, M.M. Usman Esq, H.B. Pali Esq, Abbas Ibrahim Esq, I.G. Agwam Esq and Salome Audu Esq all counsel to Pentech Engineering Nigeria Ltd & Anor as well as Koshe insisted that the statement was misleading.

According to them, the EFCC owed the public the duty of relating only the truth of what the courts decided as regards the contract financing agreement in the issues their clients were parties.

“Our attention as the legal representatives of Pentech Engineering Nigeria Ltd & Alhaji Hamza Koshe in respect of suit No. BA/271/2024 has been drawn to the statement posted on the official page of the EFCC on Wednesday, where the Commission supposedly rendered an analysis of the judgement delivered by the High Court of Justice No. 4 Bauchi Presided by Justice Aliyu Usman on the 30th July 2025.

“Now against the background of the erroneous, false and misleading publication by the EFCC on the matter, we deem it necessary to set the records straight by stating what actually is the truth of the matter in terms of the enrolled judgment Order of the Court to which this press release is attached.

“It is proper to state as a fact that in an earlier judgement relating to the subject of this release, the verdict of the High Court of Justice No. 10 Bauchi presided by Justice M. M. Abubakar delivered on the 19th December, 2024 is to the effect that the Contract Financing Agreement the subject matter of the suit having been found to be valid and not contravening any law remains enforceable hence, Pentech Engineering Nigeria Ltd is accorded the applicable injunctive reliefs as regards the activities of the Commission.

“We state as a fact that the main question of law determined in Justice Aliyu Baba Usman’s judgment is to the effect that the Contract Financing Agreement the subject of the suit is valid.

“The EFCC failed to state in its statement in reference the fact that many parties and contractors concerned or involved in the Contract Financing Agreement in the issue have been invited by the Commission with virtually all of them responding, honoring its invitation on the matter and thereby discharging their legal obligation speak volumes of ‘the bidding of some’ which the publication seeks to achieve ab initio,” said the lawyers.

The counsel added that the mischief and deliberate misrepresentation in EFCC’s statement could be seen when not only did it make no mention of this fact but also created the impression that their clients went to Court to evade investigation on the matter.

They said that Koshe was a guest of the Commission having honored its invitation in September 2024 which he was released on administrative bail, the terms and conditions applicable to which he has been observing.

“It is also important to clarify as a fact that there is no truth at all in the Commission’s statement to the effect that our client sought a perpetual injunction of general nature against the Commission’s activities.

“The truth about the reliefs sought by our clients is as contained in the Court’s processes filed in the suit in reference.

“We challenge the Commission to provide evidence of where our client ever sought a perpetual injunction at large or of general nature against it or any other body duly established by law.

“We urge members of the public to disregard in its entirety EFCC’s statement on the subject and be guided in its stead by the facts as contained in the relevant court processes to which this release is attached,” he said.