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Why Dangote may not offer cheaper petrol – Expert
Why Dangote may not offer cheaper petrol – Expert
Oil and gas analyst Henry Adigun has explained that the costs involved in producing petrol at the Dangote Refinery in Lagos, which are influenced by dollar-based expenses, may prevent it from selling fuel at prices lower than those of the Nigerian National Petroleum Company Limited (NNPCL).
During an appearance on Inside Sources, a socio-political show on Channels Television, Adigun noted that the high-quality petrol produced at the $20 billion refinery is one factor that will influence its price. He added that the production of fuel is a dollar-dependent industry, allowing Aliko Dangote, the owner of the refinery, to determine the pricing based on the costs involved.
“Dangote incurs significant expenses. He only receives 40% of the crude from NNPCL and purchases the remaining from countries like the United States. Additionally, his refinery uses a single-train system, which means he needs to blend Nigerian crude with foreign crude for production,” Adigun explained.
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He further emphasized that Dangote secured loans in US dollars, not naira, and is required to repay these loans in dollars, contributing to the overall costs. When asked about the potential price of petrol from Dangote’s refinery, Adigun estimated it to be no less than ₦850 per litre due to these operational expenses.
Nigeria, despite being Africa’s largest economy, remains dependent on imported refined petroleum due to the inactivity of its state-owned refineries. As a result, petrol prices have significantly increased, particularly after the removal of subsidies in May 2023. This has intensified fuel scarcity and pushed prices from ₦200 to around ₦800 per litre, affecting citizens who rely heavily on petrol to power both vehicles and generators, especially in the face of unreliable electricity supply.
The Dangote Refinery, which began partial operations in December 2022, is poised to reach full production capacity of 650,000 barrels per day by the end of the year. It has already begun supplying diesel and aviation fuel, with plans to start petrol distribution once ongoing arrangements with the NNPCL are finalized. The NNPCL has announced that it will begin lifting petrol from the Dangote Refinery by mid-September, as the country continues to grapple with its energy challenges.
Why Dangote may not offer cheaper petrol – Expert
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Tinubu Orders Release of 300 Containers of Electricity Equipment Trapped at Nigerian Ports
Tinubu Orders Release of 300 Containers of Electricity Equipment Trapped at Nigerian Ports
President Bola Tinubu has reportedly ordered the release of more than 300 containers of electricity equipment that have remained stranded at Nigerian ports, with some consignments said to have been held for as long as 20 years.
The equipment will undergo technical assessment to determine which items remain usable and can be deployed to support efforts to improve electricity supply across the country.
The development could provide an opportunity to recover valuable power-sector assets that have remained unused at the ports for years, although their actual contribution to electricity generation and distribution will depend on their condition, suitability and cost of rehabilitation.
The Federal Government is also pursuing plans to increase Nigeria’s electricity capacity to 19,000 megawatts (MW), as part of broader efforts to address the country’s persistent power challenges.
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However, the proposed assessment of the stranded equipment will be crucial in determining how much of it can be salvaged and whether it can be integrated into the country’s existing electricity infrastructure.
Nigeria has continued to face electricity supply challenges, including inadequate generation, transmission constraints, distribution difficulties and ageing infrastructure.
The release and possible deployment of the equipment could support ongoing interventions in the power sector if the items are found to be functional and suitable for use.
Further details are expected on the assessment process, the estimated value of the equipment and the timeline for deploying any recoverable items.
Tinubu Orders Release of 300 Containers of Electricity Equipment Trapped at Nigerian Ports
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Ijeh Barracks Mosque: Police Promise to Monitor Reconstruction as MURIC Urges Calm
Ijeh Barracks Mosque: Police Promise to Monitor Reconstruction as MURIC Urges Calm
The Nigeria Police Force has assured the Muslim Rights Concern (MURIC) that its complaint over the demolition of the Ijeh Police Barracks Mosque in Obalende, Lagos State, is receiving attention, with the Lagos State Police Command’s Criminal Investigation Department (CID) promising to monitor the mosque’s reconstruction.
MURIC Executive Director, Professor Ishaq Akintola, disclosed this in an update issued on Thursday, October 29, 2026, following telephone calls from police officials in Abuja and Lagos.
According to Akintola, a senior Muslim police officer at the Police Headquarters in Abuja contacted him to confirm that the authorities were aware of MURIC’s complaint and its public outcry over the alleged refusal of the contractor handling the barracks project to rebuild the demolished mosque.
The officer reportedly assured him that the matter was receiving attention and that the mosque would not be abandoned.
Akintola said he received another call about five minutes later from officials of the Lagos State Police Command’s CID at Panti, who assured him that they would monitor the mosque’s reconstruction.
He declined to disclose the identity of the senior police officer who contacted him from Abuja, saying the officer’s identity should remain confidential.
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Following the communications, the MURIC director urged members and supporters of the organisation to remain peaceful and allow the police authorities to address the matter.
“Therefore, let us relax, remain calm and allow the police authorities to handle the issue,” Akintola said.
He described the calls from the police offices in Abuja and Lagos as signs that the authorities were sensitive to the concerns raised by the Muslim community.
“By contacting us from Police Headquarters, Abuja and also from Lagos Police Command, the Nigeria Police has displayed sensitivity, professionalism and accountability,” he said.
Akintola also thanked MURIC members and supporters for their solidarity during the controversy and urged them to exercise patience while awaiting further action.
The organisation’s complaint followed the demolition of the Ijeh Police Barracks Mosque in Obalende and concerns over the alleged failure of the contractor handling the barracks project to rebuild the facility. MURIC has called for fair treatment of Muslim worshippers and the restoration of the mosque.
However, the police assurances, as relayed by Akintola, do not establish that reconstruction has commenced or that a completion date has been agreed upon. No specific timeline for the rebuilding was announced in MURIC’s update.
The immediate issue is therefore whether the relevant authorities will take concrete steps to ensure that the demolished mosque is rebuilt.
For now, MURIC says it will allow the police to handle the complaint while urging its members to remain calm and peaceful as they await further developments.
Ijeh Barracks Mosque: Police Promise to Monitor Reconstruction as MURIC Urges Calm
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Cocaine Trafficking: Court Denies KC Luxury Bail Over Missing Medical Certificate
The Federal High Court in Lagos has rejected the bail application of Nigerian businessman and social media influencer Afolabi Kazeem Michael, popularly known as KC Luxury, over alleged cocaine trafficking and money laundering, ruling that the defence failed to provide sufficient medical evidence to justify his release.
Justice Musa Kakaki delivered the ruling on Wednesday, October 28, 2026, holding that the application lacked the necessary medical certificate to establish special circumstances warranting bail on health grounds.
“There is no medical certificate to warrant the court to grant him bail,” the judge said.
He added that a defendant claiming to require special medical attention should provide an expert assessment explaining the condition and the need for the requested treatment.
KC Luxury’s lawyer, Emefo Etudo, had asked the court to release his client so he could receive specialised treatment at the Lagos University Teaching Hospital (LUTH). The defence argued that his health had deteriorated and that he required medical attention beyond what was available at the facility where he was being held.
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The application followed concerns about the defendant’s health after he was brought to the court premises in an ambulance on October 23 while receiving oxygen.
During that proceeding, a nurse attached to the Police Hospital in Falomo, Lagos, told the court that KC Luxury had been admitted on October 7 and diagnosed with asthma and sepsis.
The nurse said the defendant remained inside the ambulance because he was receiving oxygen and could not safely be moved into the courtroom.
The defence also alleged that KC Luxury had suffered a collapsed lung and needed specialist care. However, the prosecution opposed the bail request, arguing that the medical evidence did not establish that his condition could not be managed while in custody.
In his ruling, Justice Kakaki reviewed the medical exhibits submitted by the defence but held that they did not sufficiently establish the special circumstances required to grant bail.
The judge also noted that the defence had failed to demonstrate a material change in circumstances that would justify reconsidering the application.
He questioned the argument that KC Luxury needed treatment at LUTH without sufficient evidence showing that the hospital or other available medical facilities could not adequately manage his condition.
Despite refusing bail, the court directed officials of the Ikoyi Custodial Centre to ensure that the defendant had unrestricted access to doctors and medical specialists for examination and treatment.
The judge also ordered an accelerated hearing of the case and adjourned proceedings until November 2, 2026, for the commencement of trial.
KC Luxury is standing trial alongside Boniface Freeman Ochoche Sule and Ikechukwu Ekugo Patriarch on a 22-count charge filed by the National Drug Law Enforcement Agency (NDLEA).
The charges include allegations of conspiring to export 184.5 kilogrammes of cocaine to the United Kingdom and money laundering. The defendants have pleaded not guilty.
According to the NDLEA, the cocaine was intercepted at a courier facility in Lagos before it could be exported. The agency also accused the defendants of involvement in financial transactions and asset acquisitions allegedly connected to the suspected drug operation.
The defendants have yet to be convicted, and the allegations remain before the court.
The latest ruling means KC Luxury will remain in custody while the criminal proceedings continue, with the court directing that his medical needs be addressed during detention.
Cocaine Trafficking: Court Denies KC Luxury Bail Over Missing Medical Certificate
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