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Dangote reduces petrol price to ₦840 per litre

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Dangote Refinery

Dangote reduces petrol price to ₦840 per litre

Dangote Petroleum Refinery has announced a reduction in its ex-depot price of petrol from ₦880 to ₦840.

This was confirmed in an update provided on Monday by a spokesman for the refinery, Tony Chiejina.

Chiejina said the new ex-depot price took effect on Monday, June 30, 2025, about a week after the refinery increased the ex-depot price per litre of petrol to ₦880.

Filling stations such as MRS Oil & Gas, Ardova Plc, and Heyden with special agreements with the Dangote Refinery are expected to reduce their pump price to below ₦900 to reflect the reduction in the product.

The ₦40 reduction followed a drop in oil prices on Monday as the two-week Middle East conflict between Israel and Iran eased.

The ceasefire between the two countries saw Brent crude fell 16 cents, or 0.24%, to close at $67.61 a barrel from around $80 a barrel after the United States bombed Iran’s nuclear facilities.

On Sunday, June 15, 2025, the $20bn Lagos-based refinery announced the free distribution of petrol and diesel to marketers, dealers, and other large users across the country.

The 650,000 barrels-per-day capacity refinery said it had procured 4,000 brand-new Compressed Natural Gas (CNG)-powered tankers for the take-off of the initiative on August 15, 2025.

It also offered a credit facility to those purchasing a minimum of 500,000 litres — allowing them to obtain an additional 500,000 litres on credit for two weeks, under a bank guarantee.

Petrol marketers and truck owners have criticised the expansion moves by Dangote Refinery.

They said it would asphyxiate depot owners, truck operators, and retail outlets who have special deals for the direct delivery of petrol and diesel to large corporations and multinationals.

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NRC Confirms Warri–Itakpe Train Accident, Three Passengers Dead

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NRC Confirms Warri–Itakpe Train Accident, Three Passengers Dead

 

Three passengers reportedly died and many others injured on Monday following the derailment of a train operating on the Warri–Itakpe Train Service (WITS), raising fresh concerns about safety and operational challenges on one of Nigeria’s most important standard-gauge railway corridors.

The accident occurred at Agbor, Delta State, along the Warri–Itakpe route, according to the Nigerian Railway Corporation (NRC).

In a statement signed by the Managing Director and Chief Executive Officer of the NRC, Dr. Kayode Opeifa, the corporation disclosed that rescue and emergency operations were ongoing while efforts were being made to determine the full extent of the accident.

“The Nigerian Railway Corporation confirms that an incident involving the Warri–Itakpe Train Service occurred today. Emergency response teams and relevant authorities are currently at the scene attending to the situation and providing necessary assistance,” the statement said.

The NRC said it was closely monitoring developments and promised to provide further details as investigations progress.

Although the corporation did not immediately state the number of casualties or injuries, sources familiar with the incident said three passengers lost their lives in the derailment.

Monday’s accident is the latest setback for the rail corridor, which has experienced a series of operational disruptions in recent years.

In April 2025, the NRC suspended train operations on the Warri–Itakpe route for 72 hours after a major technical failure left hundreds of passengers stranded in a remote forest area in Kogi State for several hours.

The disruption sparked public outrage and renewed scrutiny of the reliability and maintenance of the service.

The corporation attributed the incident to multiple engine failures and subsequently launched investigations while carrying out repairs before resuming operations.

The Warri–Itakpe line has also faced vandalism of railway infrastructure and security concerns along parts of the corridor.

Commissioned as Nigeria’s first standard-gauge rail line dedicated initially to freight movement before passenger services were introduced, the route links Warri in Delta State with Itakpe in Kogi State, serving thousands of passengers and facilitating the movement of goods across several states.

Transportation stakeholders have repeatedly called for stronger safety measures, improved maintenance culture and increased investment in rail infrastructure to prevent recurring incidents and enhance public confidence in the country’s rail transport system.

 

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Zenith Bank tops awards list as Toyota Nigeria celebrates three decades of excellence (plus photos)

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Zenith Bank tops awards list as Toyota Nigeria celebrates three decades of excellence (plus photos)

 

Zenith Bank Plc has emerged as the biggest winner at the 2026 Toyota Awards and Customers’ Night, clinching the coveted Evergreen Customer of the Year Award for the second consecutive year in recognition of its exceptional patronage of Toyota vehicles over the past five years.

The colourful event, held on Friday, May 5, 2026, at The Podium Event Centre in Lekki, Lagos, brought together an impressive gathering of customers, dealers, government officials, corporate partners, media practitioners and industry stakeholders to celebrate the achievements of Toyota Nigeria Limited (TNL) and strengthen the partnerships that have sustained its leadership in Nigeria’s automotive industry.

The annual awards ceremony serves as a platform to reward loyal customers, honour strategic partners and reinforce the company’s customer-first philosophy.

The highlight of the evening came when representatives of Zenith Bank were invited to the stage to receive the prestigious award for purchasing the highest number of Toyota vehicles from TNL dealerships in 2025.

The banking giant also secured the same honour last year after emerging as the customer with the highest cumulative vehicle purchases between 2020 and 2024.

In recognition of the feat, Chairman and founder of Toyota Nigeria Limited, Chief Michael Ade-Ojo, presented Zenith Bank with the keys to a brand-new Toyota Starlet Cross.

The competition in the Customer of the Year category was equally keen. AGL Motors emerged as the overall winner, while the Nigerian Army and Zenith Bank finished as first and second runners-up respectively. The winners received office equipment worth several millions of naira.

The 2026 edition of the awards carried special significance as Toyota Nigeria celebrated its 30th anniversary, marking three decades of operations since its establishment in 1996.

In keeping with its tradition of recognising contributors across its business ecosystem, Toyota Nigeria also honoured outstanding automotive journalists whose reports and analyses helped shape public understanding of developments in the industry.

Veteran motoring journalist, Theodore Opara of Vanguard, was named Journalist of the Year for his consistent coverage of the automotive sector and insightful reporting on industry trends and Toyota’s innovations.

Mike Ochonma of Transport World emerged as the runner-up, while Rasheed Bisiriyu of Newstrends was recognised as the second runner-up for their contributions to automotive journalism, particularly in the areas of vehicle technology, mobility solutions and market analysis.ĺ

Earlier in his keynote address, Managing Director of TNL, Kunle Ade-Ojo reflected on the company’s journey, describing the milestone as a testament to resilience, innovation and customer loyalty.

“Tonight is a moment of reflection, celebration and renewed commitment,” he said.

“For us at Toyota Nigeria, this annual gathering is more than a tradition. It is a deliberate expression of our enduring philosophy of putting the customer first. It provides a unique platform to honour the loyalty, trust and partnership that have defined our journey over the years.”

 

According to him, Toyota Nigeria has evolved from modest beginnings into one of the country’s most trusted automotive brands through a relentless focus on quality, reliability and service excellence.

“Since commencing operations in 1996, our journey has been defined by resilience, growth and transformation. Our progress over the past three decades has been anchored on one unwavering principle—creating value for our customers.

“Beyond delivering vehicles that meet diverse mobility needs, we have invested significantly in building a nationwide after-sales ecosystem designed to provide a seamless and premium ownership experience.”

Ade-Ojo assured customers and stakeholders that Toyota Nigeria would continue to innovate and improve its products and services despite prevailing economic challenges.

Several dealers and business partners used the occasion to commend Toyota Nigeria for its continuous investments in dealer development, training initiatives and workshop upgrades aimed at improving service delivery nationwide.

Ade-Ojo expressed gratitude to Toyota Nigeria’s extensive network of stakeholders, including dealers, customers, suppliers, consultants, financial institutions and employees.

“The journey of the past 30 years would not have been possible without the unwavering support and contributions of our stakeholders,” he said.

The managing director also acknowledged the support of Toyota Nigeria’s principal partner, Toyota Motor Corporation, as well as the company’s board of directors led by Chief Ade.Ojo.

He further assured customers that Toyota Nigeria would continue to introduce customer-friendly initiatives designed to make vehicle ownership more accessible despite economic headwinds.

“Despite the monumental challenges in the economy, Toyota Nigeria will continue to devise means that will enable our customers to enjoy their preferred auto brand—Toyota. We will continue to initiate customer-friendly business improvement strategies aimed at making our vehicles more affordable.”

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MTN Defends Mobile Data Prices, Says Nigeria Among World’s Cheapest Markets

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MTN Defends Mobile Data Prices, Says Nigeria Among World’s Cheapest Markets

MTN Defends Mobile Data Prices, Says Nigeria Among World’s Cheapest Markets

The Chief Executive Officer of MTN Nigeria, Karl Toriola, has defended the cost of mobile data in Nigeria, insisting that the country remains among the cheapest globally despite recent changes in telecom tariffs.

Speaking at the MTN Data Trial Conference in Lagos on Saturday, Toriola dismissed claims that telecom operators are overcharging subscribers, stressing that mobile data prices in Nigeria remain competitive when compared with several countries across Africa and beyond.

He explained that based on global comparisons of data cost per gigabyte, Nigeria still ranks among the most affordable markets. According to him, a review of data pricing across countries such as Kenya, Congo, and others shows that Nigeria remains one of the lowest-cost markets for mobile internet access.

Toriola added that while countries like Ghana also maintain relatively low-cost internet services, operators such as MTN Nigeria and other telecom providers continue to offer some of the cheapest data plans in Africa, even after the recent tariff adjustment.

The remarks come amid growing public debate following a 50% telecom tariff increase in Nigeria, approved by the Nigerian Communications Commission (NCC) in January 2025. The regulator described the adjustment as necessary to address rising operational costs, inflation, and foreign exchange pressures affecting the industry.

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According to the NCC, telecom operators initially requested more than 100 percent tariff adjustments, but the approved increase was reduced to balance industry sustainability with consumer protection. The commission also stated that the revised pricing structure is aimed at supporting continued investment in telecom infrastructure, network expansion, and improved service delivery across the country.

Despite this explanation, the tariff hike has triggered widespread criticism from consumers, labour unions, and civil society organisations. Many Nigerians argue that the rising cost of data bundles in Nigeria has worsened economic pressure on households already affected by inflation, fuel price increases, and declining purchasing power.

The Nigeria Labour Congress (NLC) has strongly condemned the tariff adjustment, describing it as insensitive and an additional burden on workers and low-income earners. Consumers have also raised concerns that data now depletes faster than before, intensifying dissatisfaction over value for money in mobile internet services in Nigeria.

Telecommunications operators, however, maintain that the tariff review is essential for the survival of the industry. They argue that rising costs of network equipment, electricity, foreign exchange volatility, and infrastructure expansion have made previous pricing structures unsustainable.

They also insist that periodic adjustments are necessary to ensure continued investment in 4G and 5G network expansion, improved connectivity, and better service quality across urban and rural areas.

While Nigeria may rank among countries with relatively low data prices per GB globally, analysts note that affordability depends heavily on income levels and purchasing power. This has created a growing gap between global rankings and local realities, as many Nigerians continue to feel the pressure of rising communication costs despite being classified among markets with relatively cheap internet access.

MTN Defends Mobile Data Prices, Says Nigeria Among World’s Cheapest Markets

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