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Dangote Refinery Adjusts Petrol Prices, Absorbs 50% of Global Oil Price Increase

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Dangote Petroleum Refinery said the recent adjustment in its ex-depot price of Premium Motor Spirit (petrol) is directly related to the significant increase in global crude oil prices.

The ex-depot price of petrol has been adjusted from N899.50 to N950 per litre, marking a 5% increase. However, Dangote Refinery emphasised that this increase is notably lower than the 15% rise in global crude oil prices. Over a span of just a few days, Brent Crude prices have climbed from $70 to $82 per barrel, with additional premiums for Nigerian crude adding approximately $3 per barrel.

Dangote Petroleum Refinery, in a statement, also clarified that it has chosen to absorb part of the increased logistics costs, in a bid to maintain consistent pricing across Nigeria. The refinery also kept the Single-Point Mooring (SPM) ex-vessel price stable at N895 per litre, a move aimed at reducing the impact on consumers.

In an effort to keep prices manageable, Dangote Refinery stated that it has absorbed nearly 50% of the price hikes in international crude oil markets, ensuring that the retail price of PMS nationwide will remain at N970 per litre. Without this intervention, the company noted that the retail price could have surged to as high as N1,150 to N1,200 per litre in certain locations, a stark contrast to the current price.

The company also acknowledged its partners, including Ardova, Heyden, and MRS Holdings, would retail petrol at the same price of N970 per litre nationwide, aimed at preventing price disparities across different regions and ensuring uniform pricing across all 36 states and the Federal Capital Territory (FCT).

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“All our partners, including Ardova, Heyden, and MRS Holdings, will offer petrol to Nigerians at a retail price of N970 per litre nationwide. We have absorbed the increased logistics costs to guarantee uniform pricing across the 36 states of the federation and the Federal Capital Territory (FCT).
“Dangote Refinery has absorbed approximately 50% of the cost increases in the international oil market. This is due to our unwavering commitment to quality and affordability, as well as the ownership of the refinery by Nigerians, which remains central to our mission. If Dangote Refinery were to pass on the entire increase in the price of crude oil to the market, the retail price of PMS would be approximately N1,150 to N1,200 per litre in some locations, compared to the current price of N970 per litre,” it said.

The Refinery emphasised its ongoing commitment to providing Nigerians with affordable and high-quality fuel. The statement also stressed its dedication to transparency, with plans to publish its ex-depot price, ex-vessel price, and pump price on a weekly basis, ensuring that consumers are informed and protected from price exploitation.

“We are committed to providing reliable, top-quality petrol to the Nigerian people at competitive prices. In these challenging times, we continue to prioritise the best interests of Nigerians, striving to shield consumers from the full impact of global price volatility while adapting to evolving market conditions. We sincerely appreciate the continued trust and support of Nigerians as we strive to deliver the best value for their money and contribute to the development of a self-sufficient economy that is resilient to international price fluctuations,” it said.

It expressed appreciation for the support of President Bola Ahmed Tinubu’s administration and the introduction of the Naira for Crude Initiative. The initiative, which promotes local purchasing of crude oil with the naira currency, has been credited with providing Nigerians with consistent access to high-quality PMS while shielding them from the fluctuations of the international oil market.

“We would like to express our gratitude to President Bola Ahmed Tinubu for the introduction of the visionary Naira for Crude Initiative. This groundbreaking initiative has enabled consistent access to high-quality PMS for all Nigerians, while also insulating the Nigerian consumers from the volatility of the global oil market,” it added.

It reiterated its commitment to providing reliable, top-quality petrol to Nigerians at competitive prices. It added that it will continue to prioritise the best interests of Nigerians, striving to shield consumers from the full impact of global price volatility while adapting to evolving market conditions.

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No Pay, No Escape: Unpacking Shehu Sani’s Account of Abuja Hospital Lock-Ins

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By Yusuf Danjuma Yunusa

 

The escalating cost of healthcare in Nigeria has reached a critical inflection point, with private hospitals in the Federal Capital Territory now reportedly resorting to security protocols to prevent patients from absconding at night without settling their bills. This stark reality was brought to light on Thursday by former Kaduna Central Senator, Shehu Sani.

In a post on his Facebook page, Sani described witnessing the practice firsthand during a visit to a private clinic in Abuja.

“Some Abuja private hospitals have started taking security measures to ensure that patients don’t escape at night without completely settling their bills. That’s the case when I visited one of the private clinics today,” he wrote.

While he refrained from naming the facility or detailing the specific security steps, his observation underscores a deepening national crisis where medical care is rapidly becoming a luxury, trapping families between the desperation for treatment and the burden of debt.

This practice is merely the symptom of a systemic failure where the rising costs of drugs, diagnostic scans, surgery, and hospital admission fees are pushing citizens to the brink. For many, the choice is no longer between private and public care, but between treatment and survival.

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While patients suffer, health workers argue that hospitals are also struggling under the weight of economic headwinds. With inflation eroding the naira’s value, forex challenges limiting the import of medical supplies, and the removal of fuel subsidies impacting logistics and energy costs, the operational expenses for healthcare facilities have more than doubled in the last 18 months.

While on the other hand, a health practitioner, Ummee Manson, painted a stark picture of Nigeria’s healthcare burden, citing the ordeal of a fictional mother, Mama Chinedu, who had to sell her earrings and borrow money to raise ₦185,000 for her children’s malaria treatment—a bill that, despite saving the children, left the family skipping meals for weeks.

The practitioner noted that this experience mirrors the reality for millions, as it’s documented that in 2024, out‑of‑pocket spending still accounted for 58.3% of total health expenditure, meaning families directly bear the cost of drugs, tests, and hospital care.

The practitioner further warned that such high financial exposure pushes over one million Nigerians into poverty each year, since a single illness can deplete savings, create crushing debt, or force households to abandon care altogether, locking them in a relentless cycle of worsening health and economic distress.

The statistics paint a grim picture of a broken system. Recently released data from the National Bureau of Statistics (NBS) indicates that out-of-pocket spending still accounts for over 70% of total health expenditure in Nigeria. With most families lacking any form of health insurance, they are left to pay directly for services, often depleting their life savings in the process.

In response, both the Nigerian Medical Association (NMA) and various patient advocacy groups are renewing their calls for urgent government intervention. They urge the Federal Government to aggressively expand the National Health Insurance Scheme (NHIS) to cover a larger percentage of the population and to regulate the prices of essential medicines to curb exploitation.

For now, however, survival often depends on the kindness of strangers. Many Nigerians are forced to resort to crowdfunding, church donations, and social media appeals to raise funds for life-saving procedures—a precarious lifeline that is not available to everyone.

Health economists and medical professionals warn that without comprehensive reforms, the trend will only worsen, and until structural changes are made, the haunting reality remains: for millions of Nigerians, a hospital bed is a financial gamble, and the price of life is becoming too high to pay.

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Gov. Yusuf Increases Salaries of Two Varsities’ Academic and Non-Academic Staff

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Kano State Governor, Alhaji Abba Kabir Yusuf, has approved the implementation of a new salary review for Academic and Non-Academic Staff of Aliko Dangote University of Science and Technology, Wudil, and Northwest University, Kano.

The new increase in salary was adopted from the Federal Government’s new remuneration package implemented at the Federal Universities in Nigeria.

This was contained in a statement issued by the governor’s spokesman, Sunusi Bature Dawakin Tofa, on Monday.

The approval followed a report and recommendations of a committee constituted by the State Executive Council to examine and review requests by the two state-owned universities for the domestication of the new salary package.

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Under the approved arrangement, the new remuneration package will take effect from January 2026, while payment will commence in September 2026.

The salary review will have a total financial implication of ₦391,847,555.24 monthly, amounting to ₦4,702,170,662.88 annually for the two universities.

For Aliko Dangote University of Science and Technology, Wudil, the monthly financial implication is ₦228,195,210.83, comprising ₦141,082,223.37 for Academic Staff under the ASUU agreement and ₦87,112,987.46 for Non-Academic Staff under SSANU.

For Northwest University, Kano, the monthly implication is ₦163,652,344.41, comprising ₦112,238,985.30 for Academic Staff and ₦51,413,359.11 for Non-Academic Staff.

The government has approved the inclusion of ₦1,567,390,220.96 in the 2026 Supplementary Budget to cover payments from September to December 2026.

Similarly, arrears covering the period from January to August 2026, amounting to ₦3,134,780,441.92, will be provided for under the 2027 Budget.

The decision, according to the committee’s report, is aimed at ensuring industrial harmony and improving the welfare of staff of the two institutions, in line with the implementation of the new remuneration package in federal universities and other state-owned universities.

Governor Yusuf also approved the consideration of Visitation Panels for the two universities and other tertiary institutions in the state, as provided by relevant laws, to strengthen accountability, administration and effective management of the institutions.

The Governor reaffirmed his administration’s commitment to improving the welfare of workers and strengthening the quality of higher education as part of its broader investment in human capital development.

 

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NANS Proposes ₦200 Dues for NYSC Mobilisation

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By Yusuf Danjuma Yunusa

The National Association of Nigerian Students has hinted that payment of its proposed annual ₦200 dues may become a requirement for students seeking mobilisation for the National Youth Service Corps scheme.

The NANS National President, Akinteye Babatunde, disclosed this in a Facebook post on Sunday and Monday while discussing the organisation’s finances and plans to change how its dues are collected.

Babatunde had earlier said NANS would work with the NYSC, and that students might need proof of payment of the association’s dues to be mobilised for camp.

He wrote, “We will be working with NYSC and one of the criteria to be mobilised for camp is NANS dues receipt.”

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However, in a video posted on Monday, Babatunde explained that the association was considering a system that would allow it to collect its dues directly from students rather than relying on student union governments and institutional managements.

He said the annual dues were only ₦200 per student.

According to him, the proposed system was not intended to place an additional financial burden on students but to ensure that NANS had the resources needed to operate independently and represent students effectively.

He said, “This is not an avenue to stress the students further because the due is as low as 200 Naira per student in a year, 200 Naira one year per student.”

Babatunde said the dues were meant to be distributed among the various structures of NANS, including the zonal level, state structures and affiliated student bodies.

He explained that the organisation had struggled to receive its expected capitation from student union governments in recent years.

He said, “We are considering moving from getting the due to capitation to get it to have a platform where we can get it directly from students.”

The NANS president alleged that about 80 to 90 per cent of student union governments were no longer in control of their dues, claiming that some institutions released only a fraction of the money collected to their student unions.

He said this had weakened NANS financially and affected its ability to intervene in student-related issues.

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