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Consortium of Marketers Urges FCCPC to Probe Alleged Anti-Competitive Practices at Dangote Refinery

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A consortium of downstream oil marketers has called on the Federal Competition and Consumer Protection Commission (FCCPC) to investigate alleged anti-competitive pricing practices by the Dangote Refinery. The marketers claim that the refinery’s pricing strategies are discouraging fair competition and undermining business sustainability in Nigeria’s oil sector.

In a statement issued to journalists, the consortium emphasized that the FCCPC was established to combat anti-competitive practices and ensure a level playing field in the Nigerian economy. According to them, the commission’s mandate includes monitoring business interactions among wholesalers, retailers, and other market players, with the goal of preventing monopolistic tendencies and protecting consumers from exploitation.

The marketers alleged that Dangote Refinery has engaged in practices that amount to abuse of market dominance. They cited instances where buyers are charged a fixed price for commodities, only for the refinery to announce sudden price reductions after transactions have been completed. For example, they explained that if a commodity is purchased at ₦700 per unit, the refinery might later reduce the price by ₦100 without refunding the difference to earlier buyers.

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They further claimed that bulk buyers, such as those purchasing millions of litres, are particularly disadvantaged. According to the consortium, once such buyers load their products, the refinery often reduces the price, effectively discouraging large-scale purchases. This practice, they argued, amounts to “disincentivising business” and creates uncertainty in the market.

The statement also highlighted that price gouging and fixing are recognized as criminal offences under Nigerian law, and the FCCPC has the authority to take legal action against violators. The marketers urged regulators in the oil sector to liaise closely with the FCCPC to ensure that pricing abuses are thoroughly investigated and addressed.

“The aim is to investigate abuse of prices and prevent practices that harm competition and consumers,” the consortium stressed, adding that unchecked market domination could erode trust and destabilize the downstream oil industry.

The consortium of marketers is concerned about pricing transparency and market fairness are now raising questions about its impact on competition and consumer welfare.

 

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Eid-el-Fitr: FG Declares Thursday, Friday Public Holidays

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By Yusuf Danjuma Yunusa

The Federal Government has officially declared Thursday, March 19, and Friday, March 20, 2026, as public holidays to celebrate Eid-el-Fitr, marking the end of the holy month of Ramadan.

The announcement was made on Tuesday by the Minister of Interior, Olubunmi Tunji-Ojo, in a statement issued on behalf of the Federal Government by the ministry’s Permanent Secretary, Magdalene Ajani.

In the statement, the Minister extended warm greetings and heartfelt congratulations to the Muslim Ummah for the successful completion of the Ramadan fasting period.

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Tunji-Ojo encouraged the Muslim faithful to uphold the profound spiritual values fostered during the holy month. He emphasized the importance of sustaining the virtues of love, generosity, peace, tolerance, and sacrifice in their daily lives.

He also called on all Nigerians to leverage the festive occasion to offer special prayers for the nation’s continued peace, unity, and prosperity.

While wishing all Muslims a joyous and blessed Eid-el-Fitr, the Minister urged citizens to celebrate responsibly. He specifically encouraged acts of kindness and generosity towards the less privileged in society, embodying the spirit of the season.

The Minister reaffirmed the Federal Government’s steadfast commitment to fostering national unity and promoting peaceful coexistence among the diverse communities in Nigeria.

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Tinubu Orders Relocation of Service Chiefs to Maiduguri Following Deadly Borno Attacks

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By Yusuf Danjuma Yunusa

In a decisive response to Monday’s multiple bombings in Borno State, President Bola Tinubu has ordered the nation’s Service Chiefs to immediately relocate to Maiduguri to take direct control of security operations in the region.

The directive comes after coordinated attacks, suspected to have been carried out by Boko Haram terrorists around 7:25 pm, which resulted in the deaths of over 20 people and left more than 100 others injured.

President Tinubu issued the order while reacting to the tragic incidents shortly before his departure for a historic state visit to the United Kingdom. In a statement, he vowed that the Federal Government would not be cowed by terror.

“The recent news from Maiduguri, Borno State, is profoundly upsetting. I mourn those who lost their lives, sympathise with the injured, and stand in solidarity with the people of Borno during this challenging time,” the President said.

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Describing the attacks as the “final desperate and frantic attempts” of criminals facing relentless pressure from the military, Tinubu reassured Nigerians of his administration’s commitment to security.

“I want to make it categorically clear that these acts of terror are being carried out by elements trying to instil fear, as they are under constant pressure from our brave armed forces operating in various theatres. We will continue to intensify our efforts against all criminal elements, wherever they may be,” he stated.

The President commended the troops for repelling the assaults on military positions, praising their “courage and fighting spirit.” He reiterated that the terrorists would be defeated, noting that recent approvals for additional equipment and operational support following a security meeting last weekend were already being implemented.

“Our gallant military and civilian task forces will curtail and put them down,” Tinubu affirmed. “Just last weekend, during a security meeting with leaders of security and intelligence agencies, I approved additional equipment and operational support to enhance their capabilities. This effort is already in progress.”

Beyond the military directive, the President instructed emergency management agencies to ensure that the injured receive proper medical care. He concluded with a firm warning to the perpetrators.

“There is no place in Nigeria where terrorists will find safety. We will locate them, confront them, and completely defeat them. Nigeria will not succumb to fear.”

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Soludo Sworn in for Second Term as Anambra Governor

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By Yusuf Danjuma Yunusa

Governor Chukwuma Soludo of Anambra State and his deputy, Dr. Onyekachukwu Ibezim, were officially sworn in for a second term in office on Tuesday. The inauguration ceremony took place at the newly renovated Alex Ekwueme Square in Awka, the state capital.

The oath of office and the oath of allegiance were administered by the Chief Judge of Anambra State, Justice Onochie Anyachebelu, at approximately 11:05 a.m. The governor and his deputy were accompanied by their wives and other family members during the ceremony.

The event was attended by a host of high-profile dignitaries. Vice President Kashim Shettima, former Presidents Olusegun Obasanjo and Goodluck Jonathan, were present to witness the inauguration. Other notable personalities expected at the event included elder statesmen such as former Commonwealth Secretary-General Emeka Anyaoku.

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The newly refurbished Alex Ekwueme Square served as the venue for the ceremony, drawing a large crowd that included traditional rulers from all 179 communities in Anambra State, as well as monarchs from other parts of Nigeria.

Governor Soludo, who secured his re-election on November 8, 2025, under the platform of the All Progressives Grand Alliance (APGA), saw a strong turnout from party supporters. APGA members from all 326 political wards across the state mobilized to attend the event.

In light of the gathering, security was heavily reinforced across the state. Personnel from the Nigeria Police Force, the Nigeria Security and Civil Defence Corps (NSCDC), the Federal Road Safety Corps (FRSC), and other security agencies were deployed to strategic locations to ensure order.

The governor and his deputy marked the conclusion of their first term on Sunday with an interdenominational thanksgiving service held at the International Convention Centre.

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