Business
Fuel Scarcity Imminent As NUPENG, Dangote Face-off Festers Business

The stability in the distribution and availability of petroleum products being enjoyed by Nigerians is about to be aborted as a result of the seeming cold war between the management of the Dangote Refinery and one of the umbrella unions of workers in the oil industry, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).
NUPENG, in a statement jointly signed by Comrades Williams Akporeha and Afolabi Olawale, President and General Secretary, respectively of NUPENG and issued to newsmen in Abuja on Friday, the Union accused the management of Dangote Refinery of alleged anti-labour practices, inimical to the survival and means of livelihoods of its members under its Petroleum and Tanker Drivers Branch.
The Union specifically expressed strong reservations about the position of Chairman of Dangote Refinery, Aliko Dangote, that drivers recruited for operations of its 10,000 Compressed Natural Gas (CNG) Trucks imported into the country would not be allowed to join any trade union.
The Union described the position taken by the management of Dangote Refinery as an affront on the right of association, guaranteed under the 1999 Constitution, and a breach of relevant international labour laws to which Nigeria is a signatory.
The NUPENG recalled several meetings it initiated, jointly with the leadership of the Nigerian Association of Road Transport Owners ( NARTO), to prevail on Aliko Dangote to rescind his stance not to allow its drivers to join trade unions. The Union expressed regret that its appeals fell on deaf ears.
READ ALSO:NUPENG Tanker Drivers Announce Strike Over CNG Trucks Dispute
“Arising from the unfortunate outcome of the meeting, the leadership of the Union has made several efforts to get relevant institutions of the country to make Alhaji Aliko Dangote and his cousin, Alhaji Sayyu Ali Dantata, follow the line of global best practices and decency, but all to no avail.
“To our utmost shock, Alhaji Sayyu Aliu Dantata’s MRS commenced the recruitment of drivers for the imported CNG Trucks on Friday, 29th August 2025. “The drivers being recruited are being forced to sign an undertaking not to belong to any existing union in the Oil and Gas Industry.
“NUPENG is seriously concerned and disturbed with the unconscionable business practices of Alhaji Sayyu Aliu Dantata and Alhaji Aliko Dangote, who are scared of allowing unions to exist in their business outfits. To us, amassing wealth on the basis of enslavement, depriving workers of a union and a voice, amounts to creating filthy wealth.
“NUPENG will not stand idly by while these billionaires seek to destroy the livelihoods of thousands of workers, including tanker drivers.
“NUPENG stood in solidarity with Dangote Refinery during its construction and commissioning.
“We did so in good faith, in expectation that it would create jobs, strengthen local capacity, and benefit the Nigerian people, under a conducive atmosphere for unions to thrive.
READ ALSO:Woman Allegedly Stabs Husband To Death Over Suspicious Neighbour In Delta
“Unfortunately, Alhaji Aliko Dangote has chosen to betray that trust by scheming to monopolise distribution, crush competition, and enslave the sector and raise prices, which would ultimately result in an attack on the living standards of the masses of ordinary Nigerians.
“This is not philanthropy, it is economic sabotage!”
While appealing to relevant oil industry regulatory agencies to wade into the unfolding crisis, the Union dropped the hint that it would call on its members to down tools and shun loading of petroleum products, effective from Monday, September 8.
“We call on the Nigerian Midstream & Downstream Petroleum Authority (the Authority, for
short) to invoke its powers under Section 32(u) & (aa) of the Petroleum Industry Act (PIA). Under those two provisions, the Authority is empowered to promote competition and private sector participation in the midstream and downstream petroleum operations.
“The Authority has responsibility to identify, investigate, and prevent abuse of dominant positions and
restrictive business practices with regard to midstream and downstream petroleum operations.
“Nigeria is a member of the international community and a member state of the International Labour Organisation. Nigeria has ratified Convention No. 87 of 1948, the Convention on Freedom of Association and Protection of the Right to Organise, 1948. This Convention had
been ratified by Nigeria as far back as 17th October 1960. Under the Convention, workers have the right to join unions of their choice, for the protection of their employment and trade union rights, and without prior authorization of any employer or authority.
READ ALSO:It’s Unfair To Exclude Tems From Afrobeats Big 3 – Tiwa Savage [VIDEO]
“Indeed, by virtue of section 254C (2) of the Constitution of Nigeria, a ratified ILO Convention is a constitutional provision.
“Therefore, any practice or policy by any employer that seeks to deprive workers of the right of association is an affront to the Constitution.
“Above all, the rights of association, including membership of trade unions, are guaranteed by Section 40 of the Constitution. Alhaji Aliko Dangote and his cousin, Alhaji Sayyu Aliu Dantata, should not be allowed to enslave Nigerian workers. They should be made to be lawful business persons and not lawless individuals or business outfits. Nigeria is a country of laws, not a lawless society.
“By this statement, we call on the Federal Government of Nigeria and its agencies, including well-meaning segments of the Nigerian society, to call the two trillionaire businessmen to order. They should be told to obey the laws of Nigeria. If they persist in their anti-union, tyrannical attitudes, NUPENG is set and ready to mobilise its forces to fight within the framework of the law.
“Meanwhile, since Alh Aliko Dangote and his cousin have resolved to replace all Petroleum Tanker Drivers in Nigeria, and no one or institution can stop them, the members of the Petroleum Tanker Drivers Branch of NUPENG will, from Monday, 8th September 2025, start
looking for alternative employment/skills and sources of livelihoods.
“We plead with the general public to bear any inconveniences our struggle against this tyranny and indecency may cause.“
(TRIBUNE)
Business
Naira Appreciates Massively Against US Dollar In The Black Market, Highest In 15 Months

The naira appreciated massively against the United States dollar at the parallel foreign exchange market.
Abubakar Alhasan, a Bureau De Change operator in Wuse Zone, Abuja, told DAILY POST that the Naira strengthened significantly to N1,490 per dollar on Wednesday, up from N1,520 on Tuesday.
“We buy at N1480 and sell at N1490 on Wednesday due to lower FX demand,” Alhasan confirmed to newsmen.
READ ALSO:Naira Appreciates Against Dollar As External Reserves Swell
This means that the Naira gained N30 against the dollar on a day-to-day basis.
The last time they were exchanged at this level in the black market was in June 2024.
Meanwhile, at the official market, it dropped marginally by N1.19 to N1,488.56 per dollar on Wednesday, down from N1,487.37, according to data from the Central Bank of Nigeria.
READ ALSO:Naira Appreciates At Official Market
Analysing the trend at both markets, the difference between official and parallel markets has shrunk to 1.44.
Recall that on Tuesday, the Naira appreciated across official and parallel foreign exchange markets upon an interest rate cut by the apex bank by 50 basis points to 27 per cent.
Business
Why We Rejected Govt’s Plan To Sell Assets – PENGASSAN President

The President of the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, Festus Osifo, has revealed the reasons oil unions rejected the government’s plan to sell assets.
Osifo said that the plan will be injurious to the Nigerian economy in the long run.
He made this statement on Wednesday, while responding to questions in an interview on ‘Prime Time’, a programme on Arise Television.
READ ALSO:NUPENG Accuses Dangote Of Breaching Agreement, Says Nationwide Strike Inevitable
“What informed our position in this is that as PENGASSAN and NUPENG, we represent the workforce of the oil and gas industry in Nigeria.
“So it’s our responsibility first to our members to ensure that their jobs are protected and to ensure that their welfare is enhanced.
“Secondly, our members live in a country called Nigeria. Nigeria must survive and strive before our members will be able to survive.
READ ALSO:‘We Like Greek Gifts,’ Nigerians Blast NUPENG Over Dangote’s Fuel Price Reduction
“So we feel the move to go in this direction will not just affect the plights of our members but is injurious to Nigeria’s economy in the long run.
“The oil unions’ rejection of this plan is to protect Nigeria’s economy and the welfare of its members.
“This decision will certainly boomerang, revenue will plummet, and it will lead to a lot of other issues,” Osifo said.
Business
Okonjo-Iweala Reveals How Nigeria Can Dominate AfCFTA

The Director-General of the World Trade Organisation, WTO, Ngozi Okonjo-Iweala, says Nigeria has what it takes to lead Africa’s new era of trade if it tackles high logistics costs, develops efficient payment systems, and invests in value addition.
Okonjo-Iweala, who was speaking on the sidelines of the WTO Public Forum in Geneva, Switzerland, said Nigeria and other African economies must speed up the implementation of the African Continental Free Trade Area, AfCFTA, and build stronger infrastructure to unlock billions of dollars in opportunities in manufacturing, services, and digital trade.
“The AfCFTA is a great step, but Africa trades only about 15–20 percent within itself — far below the European Union, EU’s 60 percent. We (Nigeria) need to speed up implementation so Africans trade more with each other.
READ ALSO:U.S, China Tariff War Could Slash Trade By 80%, Okonjo-Iweala Warns
“Take Lesotho: it exports around $200 million worth of textiles (jeans, etc.) to the U.S. — about 10 percent of its GDP — while Africa imports $7 billion of similar goods. Why not absorb Lesotho’s products within Africa? To unlock intra-African trade, we (Nigeria) need efficient payment systems (Afreximbank and others are working on this), better infrastructure and lower trade costs. It shouldn’t take longer to ship goods from Cape Town to Lagos than from China to Lagos.
“With critical minerals, energy, and new supply chains, plus opportunities in services and digital trade, there’s huge potential — if we invest in connectivity and implementation,” she said.
The former Nigeria’s Minister of Finance also cautioned that negative narratives about global commerce risk overshadowing recent successes achieved through multilateral cooperation.
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