Business

FG Declares State Of Emergency At Onne Port Over Arms Importation

Published

12 months ago

September 5, 2024

The Federal Government has declared a state of emergency at the Onne Port in Rivers State following the repeated incidents of importation of dangerous cargo, including arms and ammunition through this port.

The Comptroller General of Customs, Bashir Adeniyi made this announcement during a press conference to disclose the seizures of illegal goods by Nigeria Customs Service, Area 2 command, Onne, in Eleme Local Government Area of Rivers State on Wednesday.

To this effect, the government said it is immediately implementing emergency protocols at Onne Port for the next three months by conducting thorough examinations of all suspected containers in the premises.

Adeniyi, said the recurring happenings pose a peril to national safety and the health of citizens as the Onne Port is increasingly being used as a destination for dangerous and illicit cargo, characterizing it as a disturbing trend.

Adeniyi noted, “Earlier today, I joined numerous stakeholders to take a significant step towards the cause of trade facilitation through the inauguration of upgraded facilities provided by the West Africa Container Terminal, Onne.

“As I express delight that trade facilitation is getting traction in Onne Port, I cannot help but call your attention to a grave concern. This has to do with the repeated incidents of national security breaches unfolding in Onne Port. I appreciate your presence, as we all have a shared responsibility in safeguarding our national security.

“As we are all aware, the policy thrust of Mr President supports the re-energising of our business environment to drive faster import clearance and grow our capacity for exports, Our emphasis has been to promote initiatives that speak to trade facilitation and economic development.

“It is a matter of regret that criminal elements in the international supply chain are exploiting our pro-trade stance to commit atrocities bordering on national security breaches

He further stated “The attempts to test our will through the importation of dangerous cargo through this port has necessitated the declaration of a state of emergency in Onne Port, coming on the heels of a seizure of a huge cache of arms a couple of months ago.

“It is disheartening that perpetrators have not backed down on their illegal acts.

He ensured Nigerians that the NCS will persist in being a formidable force in the fight against smuggling and the illicit importation of harmful goods, saying, “We will remain steadfast in our duties to ensure that our nation remains a safe place for all to thrive.”

Business

NNPCL Reduces Fuel Price After Dangote Refinery’s Adjustment

Published

1 week ago

August 14, 2025

Editor

The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday, according to DAILY POST.

It was confirmed that NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945.

This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza, Central Area, Wuse Zone 4, Wuse Zone 6, and other of its filling stations in the nation’s capital.

The latest downward review of fuel price in NNPCL outlets represents an N55 reduction in fuel pump price.

“It was reduced to N890 per litre this afternoon, down from N945,” an NNPCL fuel attendant told DAILY POST anonymously on Thursday.

This comes a Nigerian filling station, MRS Empire Energy, on Thursday adjusted their fuel pump price to N885 and N946 per litre, down from N910 and N955 per litre.

The latest fuel price reduction trend is unconnected to Dangote Refinery’s ex-depot petrol price adjustment by N30 to N820 per litre from N850 and the price of crude oil in the international market.

Business

Dangote Refinery Reduces Fuel Price

Published

2 weeks ago

August 12, 2025

Editor

Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, PMS, commonly known as petrol, by N30, from N850 to N820 per litre, effective from August 12, 2025.

This was disclosed in a statement by the company’s spokesman, Anthony Chijiena, on Tuesday.

The 650,000-barrel-per-day plant said the move is part of its unwavering commitment to national development, assuring the public of a consistent and uninterrupted supply of petroleum products.

Business

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

Published

2 weeks ago

August 11, 2025

Editor

India Refineries have abandoned Russian crude for Nigerian crude, while domestic refiner Dangote Refinery relies heavily on West Texas Intermediate crude from the United States of America.

This followed a recent sanction threat by US president Donald Trump on India over continued patronage of Russian crude.

According to Reuters, industry sources said that Indian Oil Corporation recently bought one million barrels of Nigeria’s Agbami crude for September 2025 delivery in a tender awarded to global trader Trafigura.

Also included are one million barrels of Angola Girassol, one million barrels of US Mars, three million barrels of Abu Dhabi Murban, and two million barrels of Nigerian oil, according to Reuters.

The report noted that the purchase is part of a broader sourcing spree that has seen Indian refiners secure millions of barrels from non-Russian sources post July 2025.

Meanwhile, Indian refiners secured purchases of Nigerian crude grades; the $20bn Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, is relying on around 60 percent on US and other imoorts to feed its processing units.

Data showed that the refinery imported an average of 10 million barrels in July 2025, saying it was increasingly relying on the US for its feedstock despite the naira-for-crude deal with the Federal Government, which kicked off in October last year.

According to Reuters, the Indian Oil Corp and Bharat Petroleum have bought a million barrels of non-Russian crude billed for delivery in September and October after the US pressured India to halt purchases from Russia.

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Indian state refiners had been largely absent from the Nigerian crude market spotlight since 2022; they have in the past concentrated on Russian crude amid the Russian-Ukrainian war. However, the Indian refiners paused Russian purchases in late July 2025 after pressure from US President Donald Trump.

On the part of Dangote Refinery, data from commodities analytics firm Kpler showed that in July, US barrels accounted for about 60 percent of Dangote’s 590,000 barrels per day of crude intake, with Nigerian grades making up the remaining 40 percent.

In July, the Dangote refinery’s crude imports surged to a record 590 kbd—driven largely by US barrels overtaking Nigerian supply for the first time—amid ongoing domestic sourcing challenges, Kpler reports.

“While WTI has held a significant share in Dangote’s import slate since March, this is the first time US crude has overtaken Nigerian supply—a shift driven by several factors,” Kpler stated.