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Breaking:Dangote Refinery Reduces Diesel Price

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Aliko Dangote

Dangote Petroleum Refinery & Petrochemicals has reduced the cost of its diesel product to N1,020 per litre, down from N1,075 per litre at the gantry price, in an effort to better serve its customers and Nigerians in general.

Since it began diesel production in January 2024, the refinery has reduced the price of diesel more than three times, from an initial N1,700 per litre to the current rate, thus providing much-needed relief to manufacturers and consumers alike.

The latest reduction of N55 per litre for diesel follows the revelation by Development Economist and Public Policy Analyst, Prof. Ken Ife, that the Dangote Petroleum Refinery sacrificed over N10 billion to ensure the availability of petrol at a uniform price across the country during the yuletide period. He also praised the refinery for setting a new benchmark in Nigeria’s energy sector by unlocking vast opportunities for export revenue.

Speaking on the transformative impact of the refinery on Arise TV, Prof. Ife explained that for years, the equalisation fund had been responsible for managing the price differentials and transportation costs involved in distributing petroleum across the country. However, it has been reported that the fund owes marketers over N80 billion, according to the development analyst.

“What has actually happened is that the president has shifted the subsidy burden away from the public purse and onto the private sector. The equalisation fund, which was meant to cover the price differential and transportation costs, plays a crucial role. If petroleum is to be sold across the country at a set price, then transportation costs must be accounted for to ensure this is possible. That’s the purpose of equalisation. However, the equalisation fund is reported to owe around N80 billion to the marketers, and this issue is still under discussion.

“During the Christmas season, which is traditionally the most challenging period, we often face shortages of petroleum, petrol hoarding, and arbitrary price hikes, all of which impact the cost of food. In response, during this last yuletide, the Dangote Group made the decision to absorb the costs. They equalised the price themselves, at a cost of over N10 billion. In doing so, they effectively absorbed the subsidy,” he said.

Prof Ife also said the facility is steering Nigeria away from its traditional focus on Premium Motor Spirit (PMS) towards a diversified range of petroleum-based exports.

He added that with major international players such as BP and Saudi Aramco purchasing refined products from Nigeria, the country is swiftly becoming a key player in the global petroleum market. The analyst expressed confidence that Nigeria is on the path to self-sufficiency in petroleum products, while simultaneously positioning itself as an energy export powerhouse.

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2027: Pro-Fubara protesters want suspended Gov to run as Atiku’s VP

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Pro-Fubara protesters in Rivers State are demanding that suspended Governor Siminalayi Fubara, should not be coerce into joining any party even as they called on him to run as Atiku Abubakar’s vice presidential candidate in 2027.

In a trending video online posted on Facebook by some supporters of Gov. Fubara, a lady in black an ardent supporter of suspended Gov Fubara, alongside other protesters apparently registering their anger in the clip declared that:

“We want Fubara returned as Governor. We’re waiting for our own northern collaboration, what we want is for our Governor, to run as vice president with Atiku Abubakar.

“Yesterday (Wednesday) our Governor met with Wike and he was told to support Tinubu, what kind of arrangement is that, we’re not in support of that.

The group’s leader apparently exhibited the position of Fubara as their support is for Atiku/Fubara ticket.

There is no smoke without fire as 2027 macabre dance by Fubara got exposed.

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APC Using Money, EFCC Threats To Weaken PDP Through Defections-Bugaje

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Former member of the House of Representatives and ex-presidential adviser Dr. Usman Bugaje has accused Nigeria’s ruling party, the All Progressives Congress (APC), of systematically using money to induce defections from the opposition Peoples Democratic Party (PDP).

Speaking in an interview with Arise News, Bugaje claimed that the APC has been aggressively targeting opposition figures, leveraging both financial incentives and potential legal threats.

His words: “Well, for what I know—and I don’t claim to know everything—the APC is basically using money to buy off PDP.

“Some say it’s a carrot and stick approach. The money is the carrot. What’s the stick? Possibly the EFCC. They might do these kinds of things. This has been the practice since the time of President Obasanjo.”

Bugaje argued that the root cause of the ongoing wave of defections is money, warning that such practices pose a grave threat to Nigeria’s democratic system.

He said: “For me, this is a very serious issue. This should be the center of our political discourse. As long as money remains the determining factor, then that’s the end of democracy and the end of politics.”

His comments come in the wake of a major political shake-up in Delta State, where Governor Sheriff Oborevwori and former Governor Ifeanyi Okowa, who was also the PDP’s 2023 vice-presidential candidate, defected to the APC. They were joined by members of the National Assembly, State Assembly, and several local government chairmen.

Bugaje stated that he is skeptical about the PDP’s ability to function as an effective opposition.

“There has not been real opposition since the moment Nyesom Wike did what he did,” Bugaje said.

“The PDP missed its chance to be a viable opposition party. Just look at their conduct on major national issues—from emergency rule debates to budget discussions. They failed to act like an opposition,” he added.

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Saraki: No Cause for Alarm, PDP Will Rebuild and Reposition Despite Delta Defections

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Former Senate President, Dr. Abubakar Bukola Saraki, has urged members of the Peoples Democratic Party (PDP) not to be discouraged by recent defections in the party, particularly in Delta State, assuring them that the PDP will emerge stronger and more united ahead of the 2027 general elections.

In a statement posted on his verified Facebook page, Saraki addressed concerns raised by party supporters and youth following the defection of top party figures, including Delta State Governor Sheriff Oborevwori, to the ruling All Progressives Congress (APC).

*”My view is that those who want to leave the PDP should leave now and let the rest of us who want to stay concentrate on rebuilding the party and refocusing it to play the role of a viable opposition that will provide a better alternative for the good people of Nigeria,”* Saraki wrote.

He emphasized the critical role of the opposition in a multi-ethnic democracy like Nigeria and warned against any attempts to impose a one-party state, describing such an idea as “dangerous” to the country’s diversity and democratic future.

It is in the interest of Nigeria and the survival of our democracy for the opposition to be vibrant and strong enough with the capacity to replace the ruling party at any point,”* he added, insisting that recent events should not demoralize PDP loyalists.

Reacting to what he described as “insincere leadership” among some PDP figures, Saraki said the current situation vindicated his earlier decision to observe events in silence. He pointed out that internal disloyalty had eroded trust within the party’s leadership ranks.

This development has vindicated the stance of people like me who have decided to remain silent and watch events unfold. I have seen that there was no sincerity with supposed leaders of the opposition,”* he said.

The former governor of Kwara State urged PDP members to view democracy as a long-term project rather than a “knock-out match,” encouraging patience, resilience, and renewed commitment to the party’s values.

“The sustenance of democracy is not a sprint. Rather, it is a marathon… 24 hours is a long time in politics and nobody can predict how the dynamics will evolve in the coming weeks and months,”* Saraki noted.

Addressing the defection of Delta State’s governor and his allies, including the 2023 PDP presidential running mate, Saraki said such moves reflect the declining ethical standards in Nigerian politics. He called for a shift from personal loyalty to strengthening political institutions.

“Yes, it is unbecoming and shocking for the running mate to the standard bearer of a leading party to abandon ship to join the ruling party. This is unprecedented… The country is experiencing a collapse of leadership values,”* he stated.

Despite the setbacks, Saraki expressed confidence in PDP’s prospects, stressing that party strength is measured not by numbers alone but by the dedication and integrity of its members. He called on youths and women to take leadership in the party’s rebuilding efforts.

“The PDP is better with fewer members who are loyal, sincere, determined, and committed to its ideals than with many who flirt with the ruling party in the shadows,”* he declared.

He concluded by assuring supporters that PDP leadership organs will convene to strategize, noting that there is still ample time to reposition the party for success in 2027.

“There is no cause for alarm. Our party members should not lose focus, hope, or determination. We should see the current development as a challenge to rebuild and refocus. Tomorrow is very bright,”* Saraki concluded.

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