Connect with us

News

Dangote Refinery Drops Diesel Price

Published

on

The Dangote Petroleum Refinery and Petrochemicals has dropped the cost of its diesel product to ₦1,020 per litre, down from ₦1,075 per litre at the gantry price.

In a statement, the $20bn company said the reduction was part of its effort to better serve its customers and Nigerians in general.

Advertisement

Since it began diesel production in January 2024, the refinery has reduced the price of diesel more than three times, from an initial N1,700 per litre to the current rate, thus providing much-needed relief to manufacturers and consumers alike,” the company stated.

READ ALSO: JUST IN: Dangote Refinery Slashes Petrol Price

Recently, the private refinery slashed its ex-depot price for petrol from ₦950 per litre to ₦890 “based on market realities”.

Advertisement

Nigeria, Africa’s most populous nation, faces energy challenges, with all its state-owned refineries non-operational for decades until 2024. The country was heavily reliant on imported refined petroleum products, with the state-run NNPC being the major importer of the essential commodities.

Fuel queues are commonplace in the country. Prices of petrol more than quadrupled since the removal of subsidy in May 2023 by President Bola Tinubu, from around ₦200/litre to over ₦1000/litre, compounding the woes of the citizens who power their vehicles, and generating sets with petrol, no thanks to decades-long epileptic electricity supply.

READ ALSO: Dangote Refinery Raises Petrol Price

Advertisement

Last December, Aliko Dangote, Africa’s leading industrialist, commenced operations at the facility situated in Lagos with 350,000 barrels a day. The refinery, which was initially bogged by regulatory battles, hopes to achieve its full capacity of 650,000 barrels per day by the end of the year. The refinery has begun the supply of diesel and aviation fuel to marketers in the country and now petrol.

Similarly, in 2024, the NNPCL said the Port Harcourt and Warri refineries have come back on stream and loading of petrol has resumed.

 

Advertisement

News

Peter Obi’s Son, Oseloka, Speaks On Gay Allegations

Published

on

Oseloka Obi, son of the 2023 Labour Party presidential candidate Peter Obi, has responded to viral allegations linking him to homosexuality after photographs of him with London-based British-Nigerian Kent Okwesa, circulated online this week.

The pictures, which emerged on Wednesday, showed Oseloka and Okwesa sitting closely at a restaurant in the United Kingdom, sparking a wave of online speculation and gossip.

Advertisement

In a detailed statement, Oseloka dismissed the rumours as malicious falsehoods driven by his father’s involvement in Nigerian politics.

He noted that while he rarely responds to such narratives, the persistence of gossip and unfounded claims made it necessary to address the matter.

READ ALSO:Jonathan, Obi Can’t Match APC’s Strength For 2027 – Mustapha Salihu

Advertisement

Because of my father’s involvement in Nigerian politics, there has been a persistent curiosity and, at times, malicious obsession with me.

“I have no social media presence and no interest in maintaining one, so I rarely correct these falsehoods. But perhaps it is time I address them,” he wrote.

Oseloka stressed that the photos of him in circulation were being misrepresented, insisting they were ordinary snapshots with friends and colleagues.

Advertisement

The truth is simple: Peter Obi’s son appears in photos with his friends and colleagues, nothing more. If people wish to invent otherwise, I hope they sleep soundly knowing they are spreading lies,” he added.

READ ALSO:Ex-Chadian PM Masra Jailed For Hate Speech, Xenophobia

He further emphasised that neither he nor his father is perfect, but attested to his father’s integrity and commitment to Nigeria’s future.

Advertisement

My father has my vote, not because he is my father, but because he is the right man for the job. If others wish to go low, invent scandals, or attack me to wound him, they are free to do so. But we will go high, and we will continue to focus on the future of Nigeria.”

Concluding, Oseloka urged Nigerians to redirect their attention from idle gossip to the pressing socio-economic challenges facing the country.

Read the full statement below:

Advertisement

 

Advertisement
Continue Reading

News

FULL LIST: PenCom Bars Seven Mortgage Banks From Processing Housing Loans

Published

on

The National Pension Commission (PenCom) has barred seven Primary Mortgage Banks (PMBs) from processing applications under the pension-backed equity contribution scheme for residential mortgages, citing their non-compliance with housing loan guidelines.

In a letter published on PenCom’s website, addressed to Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs), the organisation instructed them to immediately stop accepting or processing equity contribution applications submitted through the affected institutions.

Advertisement

The blacklisted mortgage banks are:

READ ALSO:Varsity Bars Edo IDPs From Exams Over Non-payment Of Fees

• Jigawa Savings & Loans Limited

Advertisement

• FHA Mortgage Bank Limited

• Delta Trust Mortgage Bank Limited

• AG Mortgage Bank Limited

Advertisement

• Infinity Trust Mortgage Bank Pic

• First Trust Mortgage Bank Limited

• Mutual Alliance Mortgage Bank Limited

Advertisement

Following the cited letter, the commission instructs that PFAs, including Closed Pension Fund Administrators and Pension Fund Custodians, immediately stop accepting or processing equity contribution applications submitted by the following Primary Mortgage Banks… Please be guided,” the circular read in part.

READ ALSO:Indian Refiners Abandon Russia For Nigerian Crude, As Dangote Refinery Relies On US

Explaining the decision, PenCom’s spokesman, Ibrahim Buwai, told The PUNCH that the sanction was imposed because the affected institutions failed to generate the mortgages for which funds had been approved.

Advertisement

The whole purpose of giving access to RSA holders is to enable them to own houses through mortgages,” he said. “It was discovered that some of the primary mortgage institutions were not generating mortgages. If that is the case, it means they are not complying with the regulations. That is the reason for their blacklisting.”

PenCom introduced the equity contribution for residential mortgages in September 2022, allowing Retirement Savings Account (RSA) holders to withdraw up to 25 per cent of their balances to fund equity contributions for home ownership.

According to the commission, 24,582 RSA holders had accessed the scheme as of the first quarter of 2025, with disbursements totalling ₦149.84bn.

Advertisement

RSA holders who submitted applications through the barred mortgage banks are now advised to reapply with other eligible PMBs. Those who have made upfront payments were urged to contact the affected institutions for the next line of action.

Advertisement
Continue Reading

News

VIDEO: How ‘Close Friend’ Leaked Cat Secret To Security During My House Invasion — Sunday Igboho

Published

on

Yoruba Nation agitator, Chief Sunday Adeyemo, popularly known as Sunday Igboho, has opened up again on the July 1, 2021 midnight invasion of his Ibadan residence by security operatives, including the Department of State Services (DSS).

Speaking during a visit to the Olowo of Owo, Oba Ajibade Gbadegesin Ogunoye III, at his palace in Ondo State, Igboho alleged that the attack was carried out with the intent to take his life.

Advertisement

When my house was invaded, they wanted to kill me but failed. Some said my intestines were shattered, others said my leg was broken, but there was nothing of such. They fired guns at me very well, but the prayers of you my fathers on me were answered.”

According to him, the DSS operatives forcefully gained entrance into his residence and pointed a gun at his Personal Assistant so he could lead them to his room.

READ ALSO:

Advertisement

Death of cat after friend’s betrayal

While recalling the invasion, Igboho said one of his trusted friends betrayed him by leaking sensitive information about his cat to the operatives.

He disclosed that the so-called ‘trusted’ friend had told the agents not to let the cat escape, which led to the security operatives killing the animal.

Advertisement

When I opened the door of my room for them, they saw my cat on the bed. One of my friends that I entrusted with secret had told them not to let the cat go. So they killed the cat and wrapped it with clothes like a corpse. They destroyed everywhere in the house and killed one of my brothers alongside one other person and they left,” he narrated.

Appeal to the Olowo

Speaking at the palace of the Olowo, Igboho said his absence from the country had lasted about five years and that he was eager to return to contribute to tackling insecurity in the South-West.

Advertisement

READ ALSO:JUST IN: Sunday Igboho Returns To Nigeria

“But why I came to meet you Kabiesi is that till when will I be doing that. Nigeria is my motherland. This is about five years since I’ve been chased from here. Tinubu is your son, you can convince him to free me. If not for the wanted tag on me, I would have come to Nigeria to face the insecurity facing the South-West region. I would have entered the bush and faced them,” Igboho pleaded with the monarch.

Monarch’s response
In his response, Oba Ogunoye described Igboho as a beacon of hope for his generation and future ones, urging him not to be discouraged by the challenges he has faced.

Advertisement

The monarch enjoined Igboho and his supporters to remain law-abiding amid ongoing challenges.

He assured him of continued support and called for peace and cooperation across South-West communities, noting that no region can achieve sustainable development without security.
(TRIBUNE)

Advertisement
Continue Reading

Trending