Connect with us

News

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

Published

on

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.

Advert

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.

 

This message contains confidential information and is intended only for the intended recipients. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system. E-mail transmission cannot be guaranteed to be secure or error-free as information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete, or contain malware. The sender therefore does not accept liability for any errors or omissions in the contents of this message, which arise as a result of e-mail transmission. If verification is required please request a hard-copy version.

News

Diplomatic Conference 2.0: SWAN Congratulates Abdulgafar Oladimeji

Published

on

 

 

Sports Journalists under the aegis of Sports Writers Association of Nigeria (SWAN) has congratulated the news editor and publisher of Sahel sports newspaper, Mr Abdulgafar Oladimeji, on his induction into the Diplomatic Assembly.

The SWAN President, Comrade Isaiah Benjamin, speaking at SWAN National Secretariat, at the MKO Abiola stadium in Abuja, in his congratulatory message described Mr. Abdulgafar as a selfless Sports Technocrat and Legal Consultant.

He said, “I want to congratulate one of our own, that we are very proud of at all times, Abdulgafar Oladimeji, on his induction as a Fellow of the African Transformers Institute, ATI and his induction into the Diplomatic Assembly.”

Advert

“We are confident and rest assured that, the Assembly has a resource person in its new cohort, as a sports journalist, he is well travelled and his experience in the fields of journalism and the justice sector will be of immense benefit to the Assembly.

“We are going to give him all the support that he requires to excel, we are hopeful that his involvement and participation will open a new chapter in the route of sports diplomacy in Nigeria and the continent at large.”

When contacted, Abdulgafar Oladimeji, simply said, “My mission is to project sports diplomacy, my vision is to berth sports diplomacy to its rightful place in Nigerian growth history.

Sports diplomacy is the strategic use of sports, athletes, and games by nations to build bridges, ease political tensions, and improve global relations. It relies on the shared love of physical activities to connect people across borders when formal politics fail.

Sports diplomacy uses competitions and events to build bridges, improve global images, and foster international cooperation.

In a statement by Ikenna Okonkwo ANIPR the secretary general of SWAN said  Key benefits include cultural exchange, conflict resolution, and economic growth.

 

Continue Reading

News

President Tinubu Declines Meeting with S’African Envoy, Directs Delegation to Foreign Affairs Minister

Published

on

 

By Yusuf Danjuma Yunusa

President Bola Tinubu on Monday declined to receive a special delegation from South African President, Cyril Ramaphosa, over the ongoing xenophobic attacks on Nigerians in South Africa, directing the visiting team to instead meet with the Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye.

Multiple credible Presidency sources with knowledge of the development confirmed to PUNCH Online that the delegation, led by South Africa’s Minister of International Relations and Cooperation, Ronald Lamola, had sought an audience with the President after arriving in Abuja on Friday.

Instead, Tinubu instructed them to engage with Enikanolaiye, who was appointed Minister of State for Foreign Affairs in June 2026 after Ambassador Bianca Odumegwu-Ojukwu was elevated to the substantive ministerial position following the exit of Yusuf Tuggar.

The development comes amid a diplomatic row between both countries over renewed xenophobic attacks targeting Nigerians and other African nationals in South Africa, which forced the evacuation of nearly 600 Nigerians back home.

One Presidency source said, “They actually came here on Friday wanting to see the President. But there was no prior notice.

“And we said we can’t just allow you to see the President without first asking him if he is available. So we asked, and the President said they could come on Monday.

Advert

“But when Monday came, he simply said they should go and meet the Minister of State for Foreign Affairs, Ambassador Enikanolaiye, and whatever they discuss, the Minister would come and brief him.”

A second source confirmed the President’s decision, saying, “I just confirmed it. He is not seeing them. The meeting is not happening.”

A third Presidency official added, “We don’t have that on the schedule today.”

The South African delegation reportedly remained in Abuja throughout the weekend after arriving on July 24, carrying a message from Ramaphosa.

Sources further disclosed that the Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, who is attending official engagements in Addis Ababa, had advised that it was not an appropriate time for the President to personally receive the South African delegation while attacks on Nigerians and their businesses were still ongoing.

Receiving the South African delegation in Abuja, Enikanolaiye said Tinubu directed him to engage the envoys on resolving the crisis, stressing that the longstanding relationship between Nigeria and South Africa should not be undermined by attacks on African migrants.

“It is with profound pleasure that I welcome our brothers from South Africa. President Bola Ahmed Tinubu had actually asked us to meet with you and exchange views and perspectives on how to address and resolve the ongoing Afrophobic attacks in South Africa, of which Nigerians, and other citizens of Africa, have been victims,” he said.

The minister lamented the recurring attacks on Nigerians, recalling that such incidents had persisted for decades.

“We have seen a pattern emerge as early as 1995, 1998, 2006, 2015, 2016, 2019, 2021, 2024 and 2026. It is on record that from 2022 alone, 98 Nigerians have died in mob actions, in hate-related actions that we have called Afrophobia, because we found that the preponderant victims of this ugly situation are Africans and Nigerians in particular,” he said.

Enikanolaiye recalled Nigeria’s role in supporting South Africa’s liberation from apartheid and said the violence was inconsistent with the relationship both countries had built over the years.

He stressed that while Nigeria does not support criminality, anyone accused of committing offences should face due process rather than mob violence.

“If someone is, quote-unquote, a criminal for drug trafficking, there are rules, there are regulations for when they are arrested, prosecuted, and jailed.”

Continue Reading

News

APC Youths Demand Nationwide Ban on Rarara’s Songs at Party Activities

Published

on

 

The Coalition of APC Progressive Youths has called on the leadership of the All Progressives Congress (APC) to prohibit the use of songs by popular political singer Dauda Adamu Kahutu, popularly known as Rarara, at all party activities across the national and state levels.

The group’s National Chairman, Hon. Sadiq Ali Sango, made the call in a statement issued to journalists in Abuja on Monday.

Sango alleged that Rarara’s songs have become more detrimental than beneficial to the ruling party, accusing the singer of using abusive language and divisive messages that undermine unity within the APC.

According to him, rather than promoting harmony among party members, Rarara’s style of political music has fueled hatred and deepened internal divisions.

Advert

He further alleged that the singer has repeatedly targeted senior party leaders and elders with insulting lyrics, describing such conduct as inconsistent with the values and principles of the APC.

The coalition also accused Rarara of sponsoring campaigns against the Deputy President of the Senate, Senator Barau I. Jibrin, claiming that the campaign encouraged some youths to launch personal attacks against the senator and make what it described as unfounded allegations against him.

The youth group condemned what it called Rarara’s “continuous politics of insults and character assassination,” warning that such actions could damage the party’s image ahead of future political contests.

Sango urged the APC National Working Committee (NWC) and other party stakeholders to immediately ban the use of Rarara’s songs at official party functions, rallies, and other political activities nationwide.

He added that the coalition would pursue all lawful and necessary measures to challenge what it described as conduct capable of causing disunity within the APC.

Continue Reading

Trending