News
Dangote goes for broke! *Incurs N16billion loss to cripple importers
It is now set for the wires with Dangote Petroleum Refinery and Petrochemicals (DRAP), shooting straight from the hips in what appears to be a battle for the soul of the downstream sector of Nigeria’s oil business.
The $22billion first private refinery in Nigeria, owned by Aliko Dangote, Africa’s Richest Man (ARM), and 86th in the world who has been complaining about the independent oil marketers, including the Nigerian National Petroleum Company Limited (NNPCL), ignoring DRAP to purchase Premium Motor Spirit (PMS), otherwise known as petrol, seems to have now gone for broke, by engaging in one of the most effective strategies in business – price war.
Between December 2014 and February 2025, the billionaire business magnet, has announced the reduction of Dangote fuel on three occasions, after complaining that customers were still bypassing him to import products from foreigners, when he had in stock billions of litres of the products at his facility in Lagos.
Penultimate Sunday, while hosting a delegation from Zambia, Dangote had boasted that his facility was capable of feeding the Nigerian market fully, emphasising that as at then, he had over 500 billion litres of the product worth over N600 billion in stock at the facility located at Ibeju-Lekki in Lagos.
Outside the price reductions, which reportedly caught the independent marketers unawares, with most of them complaining of products which they could hardly market due to high prices, the outfit, said to be the biggest single-chain refinery in the world upped the ante on Sunday when it announce it would absorb N16billion loss by refunding N65 per litre to marketers so Nigerians will benefit from cheaper fuel.
In a statement issued over the weekend, the refinery said particularly that it would refund customers who purchased petrol at rates higher than the advertised prices from any of its key partners – AP (Ardova Plc), Heyden, or MRS – across Nigeria, a move coming its most recent reduction of its gantry price from N890 per litre to N825 per litre.
Stating that the move was part of the ongoing efforts to ensure that Nigerians were the primary beneficiaries of the price reduction and in line with President Bola Tinubu’s Renewed Hope Agenda, aimed to stimulate the economy, the refinery confirmed it would refund N65 per litre on the over 200,000 metric tonnes of PMS purchased by marketers at the old gantry price of N890 per litre, before the new rate of N825 per litre.
“The step, effective February 27, 2025, guarantees that none of our valued business partners will experience a loss due to the price change. More importantly, it ensures that the new, lower rate takes immediate effect nationwide for the benefit of the Nigerian people,” adding that the initiative would extend beyond MRS Holdings, Ardova Plc (AP), and Heyden.
Urging other marketers sourcing stock from it to pass on the benefits of the new pricing to consumers at the retail level, encouraging a collective commitment to affordable, quality products, Dangote also condemned any exploitation of the new pricing structure.
Dangote said: “It is both unpatriotic and detrimental to the welfare of Nigerians for any party to purchase at a rate of N825 per litre and then sell to consumers at N945 or more per litre. This constitutes excessive profiteering, further burdening Nigerians for personal gain.
“Dangote Refinery in its effort to ensure good quality and affordable fuel for Nigerians, is working with its partners to make this price accessible. Consumers who purchase fuel above the advertised rate at any of its key partners – AP (Ardova Plc), Heyden, or MRS – anywhere in Nigeria, are encouraged to report to Dangote Refinery with their receipts for a full refund of the excess amount.
The approved rates per litre are as follows: MRS: N860 in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East; Heyden and AP: N865 in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East.
With the new gantry price set at N825 per litre, Dangote Refinery expects that no Nigerian will pay more than N900 per litre for PMS, regardless of location or petrol station. The refinery also underlined its commitment to providing high-quality, eco-friendly fuel that benefits vehicle performance and supports public health.
“Our commitment aligns with the objectives of President Bola Tinubu’s Renewed Hope Agenda, which champions self-sufficiency in critical sectors like energy. We remain dedicated to supporting Nigeria’s economic growth and ensuring every Nigerian has access to affordable, high-quality energy solutions.
“This initiative is one of many ways Dangote Petroleum Refinery & Petrochemicals continues to contribute to a prosperous and sustainable future for our country. In this journey toward energy security, we stand united with the Nigerian people, always striving to provide lasting solutions and a more prosperous future for all.”
Abdulrahman Bello, must die for the murder, Hafsoh Yetunde Lawal, a final-year student of the Kwara State College of Education, Ilorin, the Court of Appeal has insisted, rebuffing the attempt of the self-acclaimed Islamic cleric, to upturn the verdict of an Ilorin High Court.
Affirming the earlier death sentence imposed on cleric for the murder of the female student, said to be his lover, on February 10, 2025, at the Olunlade area of Ilorin, which attracted widespread public outrage across Kwara State and beyond, the appellate court said it found no reason to upturn the earlier verdict of the lower court.
Bello, who was one of the five people arraigned on charges bordering on conspiracy, murder, unlawful removal and possession of human parts and blood, also faced a rape charge, of which he was eventually acquitted by the trial court.
Justice Gabriel Omoniyi Kolawole, who led a three-man panel of the appellate court, while dismissing his appeal, held that the prosecution proved beyond reasonable doubt that he murdered the victim and was unlawfully in possession of human parts.
The appellate court consequently upheld the judgment of the Kwara State High Court, which sentenced Bello to death by hanging and imposed an additional 10-year jail term over his conviction for unlawful possession of human parts.
The court held that there was no merit in the appeal and consequently affirmed both the conviction and the sentence imposed by the trial court.
According to the appellate court, the trial court properly evaluated the evidence before it and rightly concluded that the prosecution established the offences beyond reasonable doubt.
The appellate court said it believed the position of Ibrahim Sulyman, Kwara State Attorney General and Commissioner for Justice, Issa Zakari, Chief State Counsel, and B.L. Abdulsalam, Assistant Chief State Counsel, who led the prosecution.
Hailing the judgment as another significant milestone in the state’s criminal justice administration, Sulyman, said in a statement: “The judgment underscores the commitment of the Kwara State Ministry of Justice and the judiciary to ensuring that criminal cases are determined strictly in accordance with the law and the evidence presented before the courts.
“It also reaffirms the principle that persons found guilty of grave offences, after a fair trial, will be held accountable under the law. The appellate court’s decision would strengthen public confidence in the justice system.
“The affirmation of the conviction and sentence represents another milestone in the administration of criminal justice and reinforces public confidence in the rule of law and the appellate process. The convict still retains any further rights of appeal available to him under the Constitution and other applicable laws.
Justice Hannah Ajayi of the Kwara State High Court, sitting at Ilorin, hand on July 2025 sentenced Bello to death after finding him guilty of murdering and dismembering Lawal, after describing his act as “the highest degree of human wickedness, and a premeditated and cold-blooded act.”
Dismissing Bello’s claims that he loved the deceased and intended to marry her as merely an afterthought designed to deceive the court, Ajayi, also ruled the convict’s conduct after committing the crime and before his arrest suggested that it might not have been his first involvement in such an act, while a book on money-making charms recovered from his apartment further strengthened the prosecution’s case.
Justice Ajayi further held that the video and written confessional statements obtained by operatives of the Department of State Services and the police were lawfully admitted in evidence, dismissing Bello’s allegation that he was tortured into making the confessions.
While acquitting Bello of the rape charge, the trial court convicted him of murder and unlawful possession of human parts, sentencing him to death by hanging for the murder and imposing a 10-year prison term, with an option of a N100,000 fine, for the human parts offence.
The court also discharged and acquitted the four other defendants in the case — Ahmed Abdulwasiu, Suleiman Muhydeen, Jamiu Uthman and Abdulrahman Jamiu — after holding that the prosecution failed to establish their involvement in the offences.
Reacting to the High Court judgment at the time, the Emir of Ilorin and Chairman of the Kwara State Traditional Rulers Council, Ibrahim Sulu-Gambari, described the killing as tragic and commended the judiciary for ensuring justice.
“The gruesome murder of Hafsoh Yetunde Lawal was pathetic, unfortunate, regrettable and worrisome,” the monarch said in a statement issued by his Press Secretary, Abdulazeez Arowona.
“The judgment has further brightened the hope and trust of the people in the judiciary and security agencies. May Almighty Allah repose the soul of the late Hafsoh Lawal and comfort her family members.”
The monarch also urged parents and guardians to be vigilant and closely monitor the activities and movements of their children and wards to prevent a recurrence of such incidents.
By the time they discovered that were surrounded, and had no escape route, the terrorists were the ones now begging to be let off, but their pleas were rebuffed due to the determination of the operatives to finish the job once and for all.
This was part of the account of Chinedu Nnebeife, a Major General and the General Officer Commanding (GOC), 2 Division, Nigerian Army, who led the rescue operations to free the 44 pupils and teachers, victims of the kidnap incident in Oyo State, last weekend.
Hear him: “We went in with some hunters and local vigilantes, but nothing positive happened that day. By the grace of God, on the 10th of July, we successfully rescued 44 of them. I have always said we will never yield to terrorists’ demands. We will not, and we never will.
“At the last phase of the operation that we had, we were blocking their major logistic. We went to a town called Ashamu to block the place, and it finally put pressure on them, and it was now they were willing to release unconditionally. But we are not giving up on them.
“We said, no, it’s not about releasing. We must see to the end of the terrorists operating in that particular region, and of course, indeed, the whole part of the country, and the glory of God, we have them here.”
Giving some details that led to the successful operation, the GOC described how drones of the Nigerian Air Force (NAF), deployed to locate the actual spot the abducted victims were kept, failed because they could not penetrate through the thick canopy of the Old Oyo National Park.
Stating how the failure of aerial surveillance forced troops into a ground assault that claimed the lives of an officer and a soldier, Nnebeife told reporters, on Monday: “Because of the nature of the forest, how thick it is, we had drone teams, we have Nigerian Air Force following up, but in some of those areas, you can’t even see, if you are under that base, you can’t see the rays of sunlight from those places and the Air Force flew, they couldn’t see anything.
“The drone team also flew, we didn’t get anything from those things and that was how we insisted on ground operation. It has to be ground, we have to go deep into the forest, and it’s during one of these operations that we lost the officer and the soldier, that particular day, and some other ones who were wounded. One of them is actually serious because he has a broken arm due to gunshot wound.
“The operation continued and we had to like involve a lot of agents, and I had to take over the whole operation completely from the garrison commander because we had to now bring in troops and forces from different places, providing intelligence, and I had to coordinate all these teams together.”
The ordeal of the victims who spent 56 days in captivity after gunmen stormed three schools in the Ahoro-Esiele, Yawota and Alawusa communities on May 15 and took them away, raised a lot of dust within Nigeria and across the globe.
Speaking further on the ugly situation, the military top brass listed the units that took part in the operation to include the Office of the National Security Adviser (NSA), the National Counter-Terrorism Unit tactical team, and the Defence Headquarters Special Forces team made up of personnel from the Army, Navy, Air Force, Police, Department of State Services (DSS), National Security and Civil Defence Corps (NSCDC) and the National Intelligence Agency (NDA).
Stating how the Nigerian Police also deployed separately from the special forces, alongside a DSS team from Oyo State and an Air Force Tactical Operations Group unit drawn from Kainji with fighter aircraft support, while troops from Operation Savannah Shield in Gwara formed a blocking force on the northern flank of the state, he said the first attempt to reach the victims, carried out with hunters and local vigilantes soon after the abduction, also failed.
Words and acts of consolations, seem quite inadequate so far to assuage the deep sorrow of the family of Kingsley and Mercy Edu, a major victim in the torrential rain that caused havoc within Ikot Awatin community, Calabar municipality, Cross River State and environs at the weekend.
Four children from the family identified as Bright, 18; Godswill, 12; Daniel, 11; and Richard, 10, were reportedly buried alive alongside another identified, simply as Mr. Udo, a tanker driver attached to a fuel depot, in a mudslide that accompanied the rain.
The tragic incident occurred just three days after floodwaters claimed the life of a one-year-old child and destroyed property worth millions of naira along Mayne Avenue by Atu Street in Calabar South Local Government Area.
Attempts to save the victims, were said to have failed, as community youths, working through the night with bare hands and shovels, were too late by the time they finished digging through the rubble, as all five victims were recovered dead.
The mother of the children, popularly known within the community as Mama Uwana, was said to have taken her children to church for evening service, only for them to leave the service for home as the rain worsened, to beat the storm, while their father, a security officer, was away on official duty.
Unaware of the fate awaiting them, the children were said to have changed into dry clothes, and lay down to rest, unaware that the saturated earth above their home was already giving way, only for the soil to give way, trapping them beneath the caved earth.
Wailing uncontrollably, the distraught mother, said to be a waterleaf farmer who lost not just her children but everything she owned, could barely find words for her loss, loudly bewailed her fate.
Hear her: “Everything was buried in the landslide, taking my children and leaving us hopeless and homeless. Why me? Four out of seven are gone in one day. My husband never buys anything for himself because he wants his children to go to school, three boys and a girl, all gone.”
For her husband, his still silence, which contrasted sharply from his wife, betrayed his own deep emotions, as he stood at the scene speechless, while sympathisers and neighbours gathered around in almost futile attempts at consolation.
The four children were buried shortly after their bodies were recovered, while the remains of Mr. Udo were deposited in a morgue, with his family left to grapple with the sudden loss of a breadwinner who had simply been doing his job on a stormy night.
Residents and sympathisers who trooped to the scene were shocked by the scale of the devastation, calling on the Cross River State Government and well-meaning Nigerians to come to the aid of the Edu family, who in a single night lost four children and the roof over their heads.
Efa Nyong, Director General of the Cross River State Emergency Management Agency (CR-SEMA), led other agencies including Disaster Management Unit of the Nigerian Red Cross Society, conducted a three-hour, on-the-spot assessment of the site on Saturday.
The team, which included the Red Cross’s Disaster Management Officer, Agbor Okim, and CR-SEMA’s Head of Relief and Rehabilitation, Preye Obo, walked through the wreckage, spoke with grieving family members, and documented the extent of the destruction.
Nyong described the loss of the children as heartbreaking and conveyed the sympathy of the state government to the bereaved families, assuring residents that the government would work with relevant stakeholders to provide support.
Explaining that the assessment was designed to guide the government’s response, from immediate humanitarian intervention to longer-term measures aimed at reducing the risk of future disasters, he urged residents in landslide and erosion-prone communities to remain vigilant, to promptly report signs of soil movement or land cracks, and to cooperate with authorities when evacuation becomes necessary.
Bassey Patrick, who spoke on behalf of the deceased family, thanked the assessment team for responding promptly despite the difficult circumstances and called for more emergency assistance for survivors who, in his words, had lost loved ones and struggling to cope with the aftermath of the disaster.
-
News3 days agoBREAKING: Mystery death! *Female student dies a day after arriving Umahi’s home!
-
News4 weeks agoBREAKING: Troops rescue wife of kidnapped General! *Terrorists flee scene
-
News3 days agoDon’t jump to conclusion! *Umahi speaks on mysterious death of female students!
-
News4 weeks agoBREAKING: Count me out, Okonkwo tells Atiku *Amaechi VP’s choice an insult to Ndigbo
-
News3 weeks agoBREAKING: Court sentences Nigerien, two others to death over terrorism
-
News2 weeks agoBREAKING: EX-SSG mowed down by gunmen! *He resisted being kidnapped – driver
-
News3 weeks agoTwo hours after Igboho’s ‘red-eyes’ to ‘Fulani’ leaders, gunmen free kidnap victims!
-
News3 weeks agoAbductors of Oyo teachers panicking, freedom coming for victims soon!