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Depot price hike: Marketers jostle to join Ardova, Heyden in Dangote Refinery bulk-purchase incentives

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Attracted by the bulk-purchase agreement incentives being offered by the Dangote Petroleum Refinery, more oil marketers in the country are jostling to be listed as beneficiaries of the agreement.

The bulk-purchase agreement, the petroleum marketers reasoned, offers a guaranteed price stability as against purchase from depot owners whose price is opened to incessant upward review as has just been announced.

Recall that two prominent players in Nigeria’s downstream oil and gas sector – Ardova Plc and Heyden Petroleum – have entered into a bulk purchase agreement with the Dangote Petroleum Refinery after MRS; a situation they have leveraged on to sell petroleum at a much cheaper pump price.

The depot owners recently jerked up their loading price to N950 per liter from N909 citing increase in the price of crude oil in the international market, a situation that has forced most independent marketers to raise their pump price too to reflect the new higher price from the depot owners.

The Independent marketers are referring to the benefits of the bulk-purchase agreement with Dangote Refinery as being enjoyed by the three leading oil marketers, MRS, Ardova Plc and Heydey who have entered into the purchase agreement with Dangote refinery and are able to retain their lower pump price.

National President of Independent Petroleum Marketers Association (IPMAN), Alhaji Abubakar Maigandi Garima has confirmed that the association members are eager to sign on with Dangote Refinery and that they have been advised to do so by organizing themselves to pool resources together to be able to qualify for the bulk-purchase agreement.

Justifying the IPMAN new position, he said members could not continue to depend on depot owners for products when they can buy directly from the refinery bearing in mind that the minimum quantity to buy from Dangote Refinery is two million litres at N909 per litre.

The management of the Dangote Refinery citing economic relief provided by President Bola Ahmed Tinubu’s crude-for-naira swap initiative had announced a bulk-purchase offer incentives to the three leading downstream sector operators, so that Nigerians could heave a sigh of relief on the reduced pump price.

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As the MRS, Ardova Plc and Heyden keyed into the arrangement, other petroleum marketers besieged the Refinery in Ibeju-Lekki, Lagos, seeking to be part of the bulk purchase deal, which guarantees steady supply of petroleum products and at competitive prices.

The desire to be part of the bulk-purchase agreement, it was also gathered, was also apparently being fueled by the testimonies from motorists who have been praising the impressive burn rate of fuel sourced from Dangote Refinery and sold in MRS filing stations which they said lasts longer compared to other products imported into the country and sold by others.

Dangote Refinery had said the strategic move was designed to further stabilise the nation’s fuel market and enhance energy security for consumers, as it would guarantee steady supply of petroleum products at affordable prices.

The bulk purchase agreement incentive by Ardova and Heyden came on the heels of a drop in the pump price of petrol by the management of MRS Oil Nigeria Plc, which had previously entered into a similar agreement with Dangote Refinery.

As a result, MRS Oil lowered its fuel prices to N935 per litre across all its stations nationwide, addressing the long-standing issue of price disparities between states. Furthermore, MRS Oil’s stock surged to a new 52-week high recently, as investors became increasingly optimistic about the company’s future earnings prospects.

Reports indicate that the bulk purchase agreement with Dangote Petroleum Refinery had also enabled both Ardova and Heyden to secure a reliable and consistent supply of petroleum products from the world’s largest single-train refinery at competitive prices, benefiting consumers across the country.

The arrangement ensures that Ardova and Heyden will have access to a full range of refined products, thereby securing their operations with a reliable supply chain. Other petroleum markers, reports said, are keen on signing similar agreement with Dangote Refinery as soon as they are allowed to, as most of them have majority of their filing stations in Lagos close to Dangote Refinery.

After signing the agreement, Ardova Plc, it would be recalled, had in a statement underscored the importance of this agreement in fostering a more competitive environment within Nigeria’s downstream oil and gas sector.

The partnership with Dangote Refinery is poised to have a positive, transformative impact on Nigeria’s oil and gas market. By ensuring a stable and affordable supply of fuel products in the over 1,000 retail outlets of the two companies, the agreement will help to alleviate the recurring issue of fuel scarcity that has long plagued Nigeria.

 

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Kaduna Federal High Court Grants El-Rufai 200million Naira Bail

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By Yusuf Danjuma Yunusa

Former Kaduna State Governor, Malam Nasir Ahmad El-Rufai, on Tuesday secured bail from a Federal High Court sitting in Kaduna, bringing to an end a detention that lasted nearly two months.

Meanwhile, a Kaduna State High Court adjourned ruling on a separate bail application to April 21.

Delivering the ruling, Justice Rilwan Aikawa granted the former governor bail after hearing arguments from both the defence and prosecution.

However, but ordered that he remain in the custody of the Independent Corrupt Practices and Other Related Offences Commission, ICPC, pending the fulfilment of the bail conditions.

El-Rufai’s lead counsel, Oluwole Iyamu (SAN), had urged the court to admit his client to bail, arguing that it is a constitutional right and that the former governor has strong ties within Nigeria, making him unlikely to abscond.

However, the prosecution, led by the ICPC, opposed the application, citing concerns that the defendant could interfere with witnesses or obstruct ongoing investigations if released.

The court subsequently granted bail with stringent conditions, including a N200 million bond with two sureties in like sum.

The sureties are to include a recognised traditional ruler and a federal civil servant not below Grade Level 15. Other conditions include the submission of landed property documents, deposit of international passports with the court, and a restriction on public comments relating to the case, among others.

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A family member of the former governor, Bello El-Rufai, told journalists that efforts were underway to meet the conditions.

“The conditions are many, close to 10 or more, but we hope to fulfil them,” he said.

The ICPC had, on March 18, filed a 10-count charge against El-Rufai at the Federal High Court bordering on alleged conversion and possession of public property, money laundering, and abuse of office.

El-Rufai’s legal ordeal began on February 16, when he was arrested by the Economic and Financial Crimes Commission, EFCC. Although he was initially granted bail, he was subsequently re-arrested by the ICPC and remained in custody for several weeks before his arraignment.

On March 27, the ICPC granted him temporary release on compassionate grounds following the death of his mother, Hajiya Umma.El-Rufai, in Cairo, Egypt.

He was, however, returned to custody after her burial.

Proceedings were further complicated when the defence filed a motion asking Justice Aikawa to recuse himself over alleged bias, a request that was later withdrawn.

Meanwhile, at the Kaduna State High Court, proceedings in a separate case took a different turn as the presiding judge, Justice Darius Khobo, adjourned ruling on El-Rufai’s bail application to April 21, 2026.

Counsel to the defendant informed the court that the defence team was served with an amended charge in court and required time to study its contents. The prosecution, also led by the ICPC, had filed an amended nine-count charge, altering the scope of the case and dropping a co-defendant, Amadu Sule, from the trial.

Defence counsel, Ubong Akpan, explained that the adjournment was also due to the inability of the court to deliver the ruling as scheduled, citing the bereavement of the presiding judge.

“His lordship was bereaved and he was unable to put the ruling together. So, we understand these things happen,” Akpan said, adding that the defence remains optimistic ahead of the next hearing date.

El-Rufai is facing separate charges before the Kaduna State High Court bordering on abuse of office, fraud, intent to commit fraud, and conferring undue advantage.

There was heavy security presence at the court premises, with armed operatives stationed at strategic points to maintain order and restrict movement.

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Revoking Rainbow Centre’s Licence Over ADC Convention Is Abuse of Power-Atiku

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By Yusuf Danjuma Yunusa

Alhaji Atiku Abubakar, a leading presidential hopeful of the African Democratic Congress (ADC) for the 2027 election, has issued a blistering statement accusing the government and its agents of attempting to revoke the licence of Rainbow Event Centre – the scheduled venue for the party’s national convention today.

In a statement released Tuesday morning, Abubakar described the alleged move as a “shameful and cowardly abuse of public office,” and insisted that the convention will proceed despite what he called a pattern of political intimidation.

The full statement reads:

“The reports from the spokesperson of our great party, which exposes the plans of the government and its agents to revoke the licence of Rainbow Event Centre for the singular offence of hosting the African Democratic Congress convention slated for today, Tuesday, April 14, 2026, is a shameful and cowardly abuse of public office.

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Let it be said without equivocation: coercing a private business owner to deny a lawfully registered opposition party the use of a venue is not governance. It is not politics. It is the naked conduct of a regime that has lost the argument, lost the people, and now reaches for the boot because it has nothing else left.

The ADC has paid every fee. The ADC has signed every contract. The ADC has broken no law. Our only offence is that we are organising, we are growing, and we are preparing to retire this failed government at the ballot box in 2027.

This is how democracies are strangled, not in a single dramatic blow, but in a thousand petty, vindictive acts against opposition parties, against free assembly, and against the sacred right of citizens to choose their own leaders. To the international community, and every democratic partner of Nigeria: take note of what is being done here tonight, and in whose name.

We will not be intimidated. We will not be silenced. We will not bow to this creeping tyranny, and we will never bow to the petty tyrants behind it.

The convention will hold. The ADC will rise. And Nigeria will rise with it.
– AA”

Abubakar, a former vice president and veteran opposition figure, did not provide specific documentary evidence of the alleged licence revocation plot. However, his remarks come hours after the statement made by the National Publicity Secretary of their party, and before the ADC’s scheduled convention, which party officials say is expected to draw thousands of delegates from across the country.

Government spokespersons had not issued an official response at the time of this report.

Observers note that accusations of venue cancellations against opposition parties have been a recurring flashpoint in Nigerian politics, often raising questions about the fairness of the democratic space ahead of major elections.

The ADC has positioned itself as a coalition of disaffected groups and individuals aiming to challenge the ruling party in the 2027 presidential race. Today’s convention is seen as a critical test of the party’s organisational strength and resolve.

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Shaaban Sharada Distances Self From Barau/Abba/Shaaban Group’s Planned Gathering And Move To Endorse A New Deputy Governor

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Former federal lawmaker Shaaban Ibrahim Sharada has publicly disassociated himself from a political group known as Barau /Abba/Shaaban, which reportedly convened a meeting to endorse Kano State’s new Deputy Governor.

Sharada, who represented Kano Municipal in the House of Representatives between 2019 and 2023, issued the clarification on his verified Facebook page. In the statement, he emphasized that he has no affiliation with the group and no involvement in the planned gathering.

“I woulaaad like to take this opportunity to distance myself from a gathering that is said to be organized on, Tuesday, by the Abba, Barau, and Sha’aban Sharada grp They plan to declare their position regarding the current situation of endorsing new Deputy Governor of Kano under the leadership of Hon. Iliyasu Koki, which has already been published in the media,” Sharada wrote.

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He further stressed that he was unaware of the group’s formation and had no hand in organizing the meeting, adding that he did not even know its purpose.

The former lawmaker with prays for peace and well-being of Kano State:

“May Allah grant us health and peaceful living. Ameen, summa ameen.”

Sharada’s statement comes due to heightened political activity in Kano following the resignation of the former Deputy Governor Comrade Aminu Abdulsalam , with various factions and interest groups positioning themselves on the matter.

His distancing showcases the fluid alliances and tensions within Kano’s political landscape, particularly among figures associated with Senator Barau Jibrin.

 

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