Business
Hunger Looms As Bakers Set To Shut Down Industry Nationwide
Published
3 years agoon
By
Editor
The Association of Master Bakers and Caterers of Nigeria (AMBCN) South-East chapter, has said it is set to withdraw its services from July 13, as directed by its national body.
The Zonal Chairman of the association, Chief Dominic Nwibe made this known in an interview with NAN on Wednesday in Abakaliki, the Ebonyi State capital.
Recall that the National President of AMBCN, Malam Mansur Umar had also said members would begin a two-week strike from July 13, citing an increase in prices of bakery materials.
Following the directive, Chief Dominic said, “We had a zonal meeting in Abakaliki and decided to follow the directive which is supposed to last for two weeks.
READ ALSO:Bread Producers Threaten Strike Over Bakery Materials’ Price Hike
“A bag of baking flour which hitherto cost N25,000 presently cost N28,000 and it is worrisome that it will keep increasing.
“A bag of sugar which hitherto cost N9,000 presently cost N30,000 while 20 litres of groundnut oil costs about N20,000″.
According to him, the members felt it was unnecessary to keep increasing the prices of bakery products such as bread to the detriment of customers.
“The customers would feel that we are greedy and we want to let the federal government know that the situation has become unbearable.
“We are asking for the liberalisation of the sugar importation process to break the monopoly by two or three firms.
“These firms import sugar and control its price mechanisms as the withdrawal of services will make our customers know we are telling the truth on reasons for price increases,” he added.
The zonal chairman regretted that the authorities blamed the high cost of materials on the economic effects of the invasion of Ukraine by Russia.
“We don’t see any justification to this assertion as flour for instance, can be sourced from nearby countries,” he said.
Also speaking, the south east Zonal Secretary of the association, Mr Okey Ezeanata said that “bakers have been seriously affected by the development as most of them have closed shops”.
“The market forces have been unfair to us and as the time we increased prices of products in April till present, there have been several changes.
“We urge the federal government to allow mass participation in our materials’ importation process just like in the telecommunication sector,” he said.
READ ALSO: Lagos Bread Seller, Others Wins N1m In ALAT’s 5for5 Promo
NAN reports that the association alleged that the National Wheat Cultivation Committee already constituted is yet to be inaugurated after over one year.
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Business
NNPCL Reduces Fuel Price After Dangote Refinery’s Adjustment
Published
2 weeks agoon
August 14, 2025By
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.
READ ALSO:N5bn Damage: NNPCL Secures Appeal Court Victory Against Ararume
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.

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.
READ ALSO:Dangote Refinery Gets New CEO
“In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 CNG-powered trucks for fuel distribution across Nigeria, effective August 15, 2025,” said Chijiena.
The announcement comes as the refinery prepares to commence direct fuel distribution nationwide. The development is expected to lead petroleum product marketers to reduce their pump prices in the coming days.
In Abuja, the retail fuel price stood between N885 and N970 per litre as of Tuesday evening.
Business
Indian Refiners Abandon Russia For Nigerian Crude, As Dangote Refinery Relies On US
Published
2 weeks agoon
August 11, 2025By
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.
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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.
READ ALSO:
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.
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