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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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Gwarzo Challenges Kano Government to Provide Evidence of Alleged Local Government Funds Diversion Through Son

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The governorship candidate of the Nigerian Democratic Congress (NDC) in Kano State and former Deputy Governor of the state, Comrade Aminu Abdussalam Gwarzo, has challenged the Kano State Government to present concrete evidence supporting allegations that he received funds from local government councils through his son, Mujahid Aminu Abdussalam.

Gwarzo made the demand in a statement issued on Thursday by his spokesperson, Ibrahim Garba Shuaibu, following claims reportedly made by the spokesperson to Governor Abba Kabir Yusuf, Sunusi Bature Dawakin Tofa, who alleged that local government funds were channelled to the former deputy governor through his son.

According to Shuaibu, the allegations were “baseless, outrageous and totally ridiculous,” describing them as an attempt to damage Gwarzo’s reputation and undermine the integrity he has built throughout his years in public service.

“The allegations are mere figments of the Governor’s imagination lacking any basis,” Gwarzo said through his spokesperson. “We therefore categorically challenge the accuser to provide credible and verifiable evidence to substantiate these callous claims. Mere accusations, no matter how often repeated in the media, do not amount to proof.”

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Shuaibu stated that Gwarzo rejected the allegations in their entirety and insisted that no evidence had been presented to support the claims being circulated against him and his family.

According to the statement, the former deputy governor maintained that his record in public office had always been guided by the principles of transparency, accountability and adherence to the rule of law.

Gwarzo further expressed confidence that the truth would eventually prevail, urging members of the public not to be swayed by what he described as unsubstantiated allegations.

The NDC governorship candidate also called on those making the allegations to pursue lawful and transparent channels if they possess any evidence, rather than relying on public accusations and media statements, according to Shuaibu.

The controversy stems from recent remarks allegedly made by Dawakin Tofa, spokesperson to Governor Yusuf, who reportedly claimed that funds belonging to local government councils in Kano State were diverted to Gwarzo through his son. However, no documentary evidence was cited in the statement issued by Gwarzo’s camp.

As of the time of filing this report, the Kano State Government had not issued any additional response to Gwarzo’s challenge demanding proof of the allegations.

The statement was signed by Ibrahim Garba Shuaibu, spokesperson to Comrade Aminu Abdussalam Gwarzo and the NDC governorship candidate in Kano State, and was dated June 18, 2026.

 

 

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Kano Govt Reaffirms Media–Security Collaboration at NUJ Summit

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The Kano State Government has reiterated its commitment to strengthening collaboration between the media and security agencies as part of efforts to safeguard democracy and national integrity.

Speaking at the ongoing NUJ National Security Summit in Abuja, the Commissioner for Information and Internal Affairs, Comrade Ibrahim Abdullahi Waiya, conveyed the message of Governor Alhaji Abba Kabir Yusuf, stressing the critical role of the media in shaping public perception and supporting government initiatives.

Governor Yusuf emphasized that the media remains a vital channel through which government policies can reach the youth and wider society, noting that journalists have a responsibility to combat fake news, disinformation, and misinformation.

“The media has the responsibility of informing the public about government activities while also protecting and preserving the integrity of the nation. This is part of our constitutional duty as citizens,” Waiya stated on behalf of the governor.

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He commended the summit’s theme, which highlights the nexus between security and media practices, describing it as “timely and visionary.” According to him, security matters require careful reporting, and the media must balance press freedom with national interest.

Waiya further disclosed that the Kano State Government has maintained a cordial relationship with security agencies, providing them with operational support including vehicles and logistics for the Police, NSCDC, JTF, and other formations.

He assured that both government-owned and private media outlets in Kano enjoy a free and enabling environment without harassment or intimidation, adding that the state organizes periodic capacity-building programs for journalists to enhance professionalism and service delivery.

“We are creating a nexus between the media, security, and government. By supporting security agencies, we are not only helping them but also protecting ourselves as citizens,” he said.

The commissioner concluded by reaffirming Kano State’s commitment to constitutional values, press freedom, and collaborative governance, stressing that the partnership between media and security agencies is essential for peace, stability, and development.

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Excitement as FBIU Students Take Matriculation Oath for the 2025/2026 Academic Session

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Franco-British International University (FBIU), Kaduna, on Wednesday recorded a milestone with the matriculation of 362 students admitted for the 2025/2026 academic session.

The maiden matriculation ceremony attracted parents, guardians, government officials, academics, invited guests and well-wishers from across the country to witness the formal admission of the students into the university community.

A member of the MAAUN Group of Universities, FBIU matriculated students into four schools: the School of Nursing Sciences, School of Health Sciences, School of Computing, and School of Social and Management Sciences.

Speaking at the ceremony, the President of FBIU, Prof. Abdullahi Sabo Muhammad, congratulated the students on behalf of the management and the entire university community.

He described the occasion as a significant milestone in the lives of the students and the history of the university, marking the official commencement of their academic journey.

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In his address, the Founder of the MAAUN Group of Universities, Prof. Adamu Abubakar Gwarzo, warned the students against immorality and other social vices, stressing that the group operates a zero-tolerance policy on drug abuse.

He urged the matriculating students to remain focused on their studies, emphasizing the university’s commitment to producing quality graduates who will contribute to the development of Nigeria and Africa.

Prof. Gwarzo also announced plans to establish an Internationalisation Unit at the university to facilitate access to scholarships, academic exchanges and global learning opportunities.

In his goodwill message, the Chancellor of FBIU, Senator Shehu Sani, urged the matriculating students to uphold discipline and good character, stressing that these virtues are essential to safeguarding the university’s reputation and attaining academic excellence.

In their separate remarks, the President of MAAUN Nigeria, Prof. (Dr.) Mohammad Israr, the Registrar of MAAUN Niger and Migeria, Dr. Shu’aibu Usman Tanko, and the representative of the Canadian University of Nigeria, Prof. Ahmed Maigari Ibrahim, described the students as privileged to have gained admission into one of the leading emerging universities in sub-Saharan Africa.

They encouraged them to remain focused and make the most of the opportunities available.

Also speaking, the Registrar and Chief Executive Officer of the Environmental Health Council of Nigeria (EHCON), Dr. Baba Muhammad Yakubu, congratulated the students and commended the university for offering academic programmes that are responsive to contemporary societal needs and aligned with global standards.

The Vice President Administration of FBIU, who presided over the ceremony, administered the matriculation oath to the students, formally admitting them into the university community.

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