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Imminent Fuel Increase as Petrol Landing Cost Rises to ₦1,117 Per Litre

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The landing cost of Premium Motor Spirit, also known as petrol, was N1,117/litre as of Tuesday, July 16, 2024, the Major Energies Marketers Association of Nigeria announced on Wednesday.

MEMAN disclosed this during a webinar with journalists on Wednesday.

The association revealed that the landing cost of diesel was N1,157/litre, while that of aviation fuel was N1,127/litre.

Reports indicate that the N1,117 landing cost of petrol is far above the pump price of the product in Nigeria.

At the moment, filling stations operated by the Nigerian National Petroleum Company Limited and those of the major marketers sell PMS at between N617/litre and N660/litre, while independent marketers sell for N700/litre or more.

NNPC, the sole importer of petrol into Nigeria, has consistently denied subsidising the cost of PMS but refused to disclose the landing cost of the product.

Our correspondent reports that the revelation from MEMAN is almost the first from marketers in the industry as the landing cost appears to have been shrouded in secrecy by the importer of PMS.

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MEMAN’s Executive Secretary, Clement Isong, said the costs were obtained from independent energy price benchmark providers.

The association maintained that it would release similar information regularly to keep the masses informed.

Recently, independent oil marketers accused private depot owners of hiking the ex-depot price of petrol from N630 to N720/litre.

An expert in the energy sector, Prof Wumi Iledare, told our correspondent in an interview that the cost of PMS in Nigeria was far below the international price, considering the price of diesel.

“The gap between the cost of diesel and petrol in Nigeria is much. It is never like that all over the world. That means something is wrong.

“I don’t know if NNPC is paying subsidies or not, but somebody is absorbing the difference. You can call it under-recovery or subsidy, but the price of petrol today does not reflect the market cost of producing a litre of petrol,” he disclosed.

Iledare added that with the current exchange rate, the price of petrol should not be less than 80 per cent of the price of diesel.

Corroborating this, a Professor of Economics at the University of Ibadan and President of the Nigerian Economics Society, Adeola Adenikinju, said, “The current price of PMS is being subsidised by the government. The government buys at higher rates and sells to us at subsidised rates. That is what they call under-recovery.”

The International Monetary Fund recently warned the Nigerian government to remove what it called implicit fuel and electricity subsidies.

In a report published recently by the IMF, the organisation told Nigeria that the subsidies would guzzle three per cent of the nation’s Gross Domestic Product in 2024 as against one per cent in the year before.

President Bola Tinubu declared the removal of fuel subsidies during his inauguration on May 29, 2023.

IMF noted, however, that “adequate compensatory measures for the poor were not scaled up promptly and subsequently paused over corruption concerns. Capping pump prices below cost reintroduced implicit subsidies by end-2023 to help Nigerians cope with high inflation and exchange rate depreciation.”

However, the NNPC and the Federal Government have vehemently denied subsidising the current price of PMS

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Group asks Governor Yusuf to appoint Ganduje’s daughter as Kano Deputy Governor

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A group has called on the Governor of Kano State to appoint the daughter of former Governor of Kano, Dr. Asiya Balaraba Abdullahi Umar Ganduje, as Deputy Governor.

The group, known as Haɗin Kan Jam’iyyar APC ‘Yan Dangole from Kano State, expressed its support for Dr. Asiya Ganduje to become the Deputy Governor of Kano State.

According to the group, Dr. Asiya Ganduje is a woman committed to serving the people, especially the youth, through various programs that have improved their lives.

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They stated that she has demonstrated competence and dedication in politics, contributing to opportunities for youth and women in areas such as education, skills acquisition, and self-reliance.

The group also emphasized that Dr. Asiya Ganduje possesses compassion and vision for improving the lives of citizens, while encouraging women to participate in politics and economic activities.

Furthermore, they praised her cooperative character and loyalty to party principles, saying this has made her a role model for women and youth.

In conclusion, the group declared that her appointment as Deputy Governor would help bring progress, unity, and prosperity to the people of Kano State.

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UTME 2026: JAMB to Release Day 1 Exam Results Today Before Midnight

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By Yusuf Danjuma Yunusa

The Joint Admissions and Matriculation Board (JAMB) has announced that the results of all candidates who sat for the 2026 Unified Tertiary Matriculation Examination (UTME) on Thursday, April 16, 2026, will be released on Friday, April 17.

Spokesperson of the board, Fabian Benjamin, announced this in a post on X, noting that an announcement would be made when the results are available.

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“This is to inform all candidates who sat for the 2026 UTME on Thursday, 16th April 2026, that their results will be released today before midnight. An official announcement will be made to the public and posted on this page as soon as the results are available. Thank you,” he wrote.

Scheduled to run through April 22, the examination is structured into four daily sessions beginning at 7:30 a.m. and ending at 6:00 p.m., a framework designed to manage the large volume of candidates and reduce congestion at Computer-Based Test (CBT) centres.

This year, nearly 2.2 million candidates are participating across 966 accredited centres, each expected to meet operational benchmarks such as functional computer systems, stable internet connectivity and electricity as well as adequately trained personnel.

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Anambra Workers Under Scrutiny for Lateness and Absenteeism after Soludo’s Visit

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By Yusuf Danjuma Yunusa

The Anambra State Government has commenced a probe of civil servants accused of reporting late to duty and absenteeism in the state public service.

Some of the affected workers appeared before the Special Disciplinary Committee on Violation of Public Service Rules, following Governor Chukwuma Soludo’s unscheduled visit to the State Secretariat in March, where it was discovered that over 90 per cent of the workforce were absent from their duty posts.

The committee, constituted in line with the Public Service Rules 2021, sat at the Office of the Head of Service, State Secretariat Complex, Awka, on Friday, and examined several workers over alleged lateness and absenteeism.

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Speaking during the exercise, the Chairperson of the panel and Permanent Secretary, Office of the Head of Service, Nkiru Nwankwo, said lateness and absenteeism violate public service rules and amount to a breach of employment terms.

She warned that such offences are punishable under the rules, stressing that the current administration is committed to repositioning the public service for efficiency and effectiveness.

“This exercise is set up to probe lateness and absenteeism, which violate public service rules and constitute a breach of contract of employment. Workers should have a change of attitude toward work,” she said.

Nwankwo advised workers with genuine reasons for absence or lateness to follow due process by formally notifying appropriate authorities in writing and in good time.

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