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Updated: Petrol price may drop to N300/litre – Local refiners
Updated: Petrol price may drop to N300/litre – Local refiners
The pump price of petrol is expected to drop to N300/litre when massive refining of crude oil by the Dangote Petroleum Refinery and other indigenous producers begins soon.
Operators of modular refineries, who stated this however pointed out that this would be achieved with the Federal Government ensuring adequate provision of crude oil to local refiners.
They disclosed this on Sunday, noting that refineries abroad were ripping off the country.
The refiners spoke under the aegis of the Crude Oil Refinery Owners Association of Nigeria in an interview with The PUNCH.
They said what happened to the cost of diesel after Dangote started producing it would happen to petrol price when being produced massively in Nigeria.
It is a registered association of modular and conventional refinery companies in Nigeria.
“A lot of companies today benefit from the importation of petroleum products at the expense of Nigerians,” the Publicity Secretary of CORAN, Eche Idoko, stated.
A report by The PUNCH on Monday quoted Idoko in an interview as saying, “If we begin to produce PMS (petrol) today in large volumes, provided there is adequate crude oil supply, I can assure that we should be able to buy PMS at N300/litre as the pump price.
“Why make Nigerians buy it at almost N700/litre when you know that if you allow refineries work the price will come down? Is it because you want to satisfy the global refiners abroad that are making so much from us?”
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When told that there are arguments that it is not possible to have such a drop in price because crude oil, the raw material for PMS, is price in dollars, the CORAN official insisted that petrol price would crash once it is being produced massively by indigenous refiners.
He said, “We were selling diesel for N1,700 to N1,800/litre, but as soon as Dangote refinery started production he brought down the price to N1,200/litre. What other proofs do you need?
As I speak to you now there is every tendency that before December diesel price will drop further. The only reason reason why diesel is not doing below N1,000/litre is because of our exchange rate.
“If the exchange rate drops, diesel will drop below the N1,000/litre price. Now the exchange rate concern is because Dangote imports crude. If he is not importing, the exchange rate may not have so much effect, though he is still buying crude in dollars (in Nigeria) anyway.”
On May 18, 2024, The PUNCH reported that Africa’s richest man, Aliko Dangote, stated that following the laid-down plans of the Dangote refinery, Nigeria would no longer need to import petrol starting June this year.
Dangote had also stated that his refinery could meet West Africa’s petrol and diesel needs, as well as the continent’s aviation fuel demand. He spoke at the Africa CEO Forum Annual Summit in Kigali, expressing optimism about transforming Africa’s energy landscape.
“Right now, Nigeria has no cause to import anything apart from gasoline (petrol) and by sometime in June, within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop of a litre,” the billionaire had declared.
Also, Dangote had earlier in the year crashed the pump price of diesel to N1,200/litre when the commodity was selling at between N1,700 and N1,800/litre at the time.
He further dropped the price to below N1,000/litre, but could not sustain this price due to the rise in exchange rate. The refinery eventually returned the price to the initial rate of N1,200/litre.
Speaking on Sunday, the CORAN spokesperson stated that this was why the modular refiners had been calling for the sale of crude oil at the naira equivalent of the dollar rate.
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“We have told them (government) that even the dollars that you are asking us to use and buy this product, it is detrimental to the country. Strengthen the naira. We will buy at the international market rate, but at a naira equivalent.
“These are the issues and they know these things but we can’t explain why they really can’t take decisions to change these concerns.
“Get crude to local refineries, allow crude purchase in naira equivalent, make the environment business-friendly and watch locally produced petroleum product prices crash,” Idoko stated.
Nigeria currently has 25 licensed modular refineries. Five of them are operating and producing diesel, kerosene, black oil and naphtha. About 10 are under various stages of completion, while the others have received licences to establish.
Operators of modular refineries earlier stated that aside from the five that are in operation currently, the remaining plants are embattled due to the major challenge of crude oil unavailability, a development that has stalled funding from financiers.
“Only about five of our members have completed their refineries. The others are having a major challenge.
“This challenge is that the people who are supposed to finance them have not disbursed financing for construction because they want some level of guarantee.
“A guarantee that if they finish the refinery, they are going to get feedstock, which, of course, is crude oil,” Idoko had explained.
Oil marketers also believe that the cost of petrol should be lower than its current price once its production begins in Nigeria.
They welcomed the comment of Dangote that his refinery should start pumping out petrol this month, and expressed hope that the cost would be less than the price which the Nigerian National Petroleum Company Limited currently sells.
“We expect a reduced price for locally produced PMS, as I’ve earlier told you,” the National President, Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, stated.
Maigandi, while speaking from Saudi Arabia with our correspondent on Sunday, also stated no date has been communicated to marketers on when Dangote would release petrol to the market. Officials of Dangote refinery have remained mute on this.
“It is a welcome development if the refinery can start releasing PMS this month because as marketers we are currently set to start buying the product from the plant,” Maigandi stated.
The IPMAN president earlier stated that marketers were discussing with the managers of the plant, but not specifically on petrol pricing.
“We have been discussing, but not about the price of petrol yet, rather on other matters such as the registration of members for the purchase of petrol and diesel from the refinery.
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“It is true that we have started buying diesel from them, but you have to register with the company first. So a general registration is ongoing,” he said.
Maigandi, however, stated that though marketers had yet to receive the projected price for petrol from the plant, dealers would want to see a PMS price of about N500/litre from the Dangote refinery.
“We are looking at having it (PMS) at any price below the NNPC rate. The price which NNPC sells petrol is N565.50/litre, so we are expecting something below that price, maybe around N500/litre,” Maigandi stated.
The oil dealers also joined in the call for the provision of crude oil to local refiners, stressing that this would impact positively on the prices of refined petroleum products.
“Of course, it is important for crude to be made available to local refineries because this will surely affect petroleum products’ prices positively,” the IPMAN president stated.
Updated: Petrol price may drop to N300/litre – Local refiners
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Oyo School Abduction: IGP Deploys DIGs, Orders Nationwide Crackdown on Unregistered Vehicles
Oyo School Abduction: IGP Deploys DIGs, Orders Nationwide Crackdown on Unregistered Vehicles
The Inspector-General of Police (IGP), Olatunji Disu, has assured Nigerians that the Police, working in collaboration with other security agencies, will do everything within their power to ensure the safe rescue of the abducted pupils and teachers in Oyo State. The IGP also ordered the deployment of Deputy Inspectors-General of Police (DIGs) to strengthen ongoing rescue operations aimed at securing the release of the victims. Disu disclosed this during a conference with senior police officers in Abuja on Tuesday, June 9, 2026. He also directed the immediate nationwide enforcement against vehicles operating without registration number plates, as well as those with concealed, defaced, or altered number plates. According to him, the Police would no longer tolerate such practices, noting that unregistered or disguised vehicles are frequently used by kidnappers, terrorists, and other criminal groups to evade detection and arrest. “From this moment, enforcement will be strict and uniform. There will be no preferential treatment,” he said. While noting that significant progress had been made in efforts to rescue the abducted pupils and teachers, the IGP said the full operational capacity of the Nigeria Police Force, in coordination with other security agencies, had been deployed to secure their safe return. “We are making progress and will not relent until every hostage is brought home safely,” he said. Disu further stated that the deployment of DIGs, which takes effect from June 15, 2026, is aimed at improving supervision, operational coordination, and accountability across police formations nationwide. He explained that the reform is intended to bring strategic leadership closer to field operations and enhance rapid response to emerging security threats.
The abduction incident occurred in Oriire Local Government Area of Oyo State in the early hours of Friday, May 15, 2026. Armed men attacked schools in Yawota and Ahoro-Esinele communities, resulting in the abduction of 39 pupils and students as well as seven teachers. The attack targeted three schools: Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School. During the attack, a mathematics teacher, Mr. Michael Oyedokun, was beheaded. A motorcyclist was also killed, and a security operative died after running into improvised explosive devices planted by the abductors during early rescue attempts. The Oriire LGA communities sit on the fringes of a forested belt that the abductors have exploited for cover since the attack. A total of 46 people — comprising students, pupils, and teachers — remain in captivity.
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On May 16, 2026, the IGP visited Oyo State following the abduction incident. He was accompanied by the Commissioner of Police, Kwara State Command, CP Ojo Adekimi, owing to the strategic proximity of the Oriire axis to communities bordering Kwara State, as well as the Commissioner of Police, Schools Protection Squad, CP Abayomi Shogunle. During the visit, the Inspector-General met with the Commissioner of Police, Oyo State Command, CP Abimbola Ayodeji Olugbenga, alongside other security stakeholders, where he received operational briefings on ongoing rescue efforts and security deployments across the affected communities. He directed the deployment of additional tactical and intelligence assets to strengthen ongoing operations in the area and adjoining forests. The IGP assured residents, parents, and guardians that the Nigeria Police Force, in collaboration with other security agencies, has intensified coordinated search-and-rescue operations, intelligence gathering, and tactical deployments aimed at securing the safe return of all abducted victims.
President Bola Tinubu has approved the recruitment of 1,000 forest guards in Oyo State and ordered the deployment of a specialised security unit to intensify efforts to rescue the abducted pupils and teachers. The directive was announced during a visit by a high-powered Federal Government delegation to Esiele and Yawota communities on May 31, 2026. The delegation, led by Chief of Staff to the President, Femi Gbajabiamila, conveyed Tinubu’s concern over the incident and reassured residents of the government’s commitment to securing the safe return of the victims. According to the delegation, the President approved the recruitment of the forest guards in collaboration with the Oyo State Government as part of measures to strengthen security in the area. Tinubu also directed a specialised rescue team with advanced operational capabilities to support ongoing efforts aimed at freeing the abducted pupils and teachers. The delegation included National Security Adviser Nuhu Ribadu, Inspector-General of Police Olatunji Disu, Chief of Defence Staff General Christopher Musa, and Presidential Media Adviser Sunday Dare. Addressing residents, Gbajabiamila said the President was deeply troubled by the abduction and had ordered the deployment of all necessary resources to ensure the victims’ safe return. “Whatever it takes, our children and teachers will be brought back home safely,” he said, assuring the communities that the rescue operation would be intelligence-led and carefully coordinated. Gbajabiamila also addressed appeals from parents and community members urging caution in the rescue operation, explaining, “Mr President also saw the appeals from some parents and community members urging caution in the rescue efforts. Let me assure you that the operation will be intelligence-led and carefully coordinated, deploying both kinetic and non-kinetic measures to secure the safe return of the victims.” The delegation also visited the widow of the slain teacher, Mrs. Mary Oyedokun, and her two children, where Gbajabiamila delivered the President’s personal condolences to the family and promised that they would not be left to suffer. Community leaders had also requested the establishment of a military base in the area, and the delegation said the request would be forwarded to the President for consideration.
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The Nigerian Air Force (NAF) has deployed a surveillance aircraft to support efforts to rescue the abducted teachers and pupils. Oyo State Governor Seyi Makinde disclosed the deployment during a visit by senior Nigerian Air Force officials, according to a statement issued by the Air Force spokesman, Air Commodore Ehimen Ejodame. Makinde said the Air Force responded quickly after the incident was reported. “The NAF promptly deployed an aerial surveillance platform immediately after the abduction was reported, providing critical intelligence to support search-and-rescue operations,” the governor said. He added that “intelligence generated from the surveillance missions has continued to assist security agencies in tracking developments and coordinating efforts towards securing the safe release of the victims.” The governor praised the military for its support, noting that the aircraft was deployed while Oyo State’s newly acquired aerial assets, two Diamond-42 aircraft, were still being assembled at the NAF Base in Lagos. He urged residents to remain patient and cooperate with security agencies, assuring them that all necessary resources are being deployed to secure the victims’ release. Governor Makinde also emphasized that patience was required to successfully carry out the operation, noting that his government bought the aircraft proactively to ease the burden on overstretched security forces.
In a significant move to curb the activities of criminals who exploit unregistered vehicles, the IGP has mandated an immediate enforcement initiative targeting vehicles operating without registration plates or those with concealed, altered, or defaced number plates. The IGP stated: “Let me now address the growing disturbing trend that has several implications for public safety and national security across several parts of the country. We have observed an increasing number of vehicles being driven without registration number as well as vehicles whose number plates are deliberately concealed, defaced, covered, or altered in an attempt to evade identification.” “This practice is unlawful, irresponsible, and unacceptable and so, I wish to state unequivocally that from today, the Nigerian Police Force will no longer tolerate such acts of impunity. Every vehicle operating on our roads must be properly registered and must display its approved registration number in accordance with the law,” he said. The IGP noted that vehicle registration was not merely an administrative requirement but a critical component of crime prevention, intelligence gathering, and national security, as criminals, kidnappers, terrorists, and other offenders often exploit unregistered vehicles to perpetrate crimes and evade detection. “All CPs, Tactical Commanders, and heads of formation are therefore directed to immediately intensify enforcement operations against unregistered vehicles, and those with concealed registration numbers. There shall be no preferential treatment or selective enforcement. The law must be applied equally to all, and anyone who chooses to disregard this directive will face the full consequences of the law,” Disu said.
Presenting the Force’s operational achievements since its last strategic meeting on May 5, 2026, the IGP said: “Since our last conference on May 5, 2026, the Force has arrested eight suspected terrorists, 29 murder and culpable homicide suspects, 65 armed robbery suspects, 55 kidnapping suspects, and 42 suspected cultists.” “Our operations also led to the rescue of 88 kidnapping victims. In addition, 114 assorted firearms and 843 rounds of ammunition were recovered, while 28 stolen vehicles were also recovered,” he added. The IGP cited a recent operation in the Federal Capital Territory (FCT) , where intelligence reports revealed that five suspected kidnappers were heading to Abuja to carry out criminal activities. “Through coordinated intelligence and operational deployment, the suspects were intercepted and arrested before they could execute their plans. This demonstrates the importance of proactive policing and intelligence-driven operations in preventing crime before it occurs,” he said. He described the achievements as evidence of improved intelligence gathering and proactive policing strategies.
To further strengthen security, the IGP directed Commissioners of Police to establish coordinated “Handshake Patrols” between neighbouring states to prevent criminals from exploiting jurisdictional boundaries. He also ordered enhanced surveillance along major entry and exit routes nationwide, improved intelligence sharing, and joint operational responses where necessary. “Criminals do not respect state boundaries. Our response must be equally seamless,” he said. The IGP urged officers to deepen collaboration with communities and strengthen intelligence gathering through public trust and engagement. He also called for proactive communication with the media to counter misinformation and ensure accurate reporting of police operations. He commended officers and men of the Force for their dedication and urged them to intensify efforts to rid the country of criminal elements.
Oyo School Abduction: IGP Deploys DIGs, Orders Nationwide Crackdown on Unregistered Vehicles
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FG Unveils New Measures to Tackle School Abductions as Lagos Boosts School Security
FG Unveils New Measures to Tackle School Abductions as Lagos Boosts School Security
The Federal Government has introduced new measures aimed at addressing school abductions, insecurity and other emerging threats affecting basic education across Nigeria, as authorities move to strengthen protection for pupils and school infrastructure nationwide.
The government said key issues such as school safety, education in emergencies, climate change, and gender-based violence have now been integrated into revised operational guidelines for School-Based Management Committees (SBMCs). The updated framework is designed to improve community participation in safeguarding schools and ensuring uninterrupted learning.
The Executive Secretary of the Universal Basic Education Commission (UBEC), Aisha Garba, disclosed this during a three-day training programme in Kano for stakeholders from the 19 Northern states and the Federal Capital Territory (FCT).
Garba, who was represented by the Head of Community Engagement and Social Mobilisation at UBEC, Patricia Uche, said the review was prompted by rising cases of banditry, kidnapping and attacks on schools across the country.
She explained that one of the key updates in the revised guidelines is the introduction of stronger provisions on education in crisis situations, aimed at improving preparedness and response to security emergencies affecting schools and surrounding communities.
According to her, the new framework places greater responsibility on local communities to support school authorities in identifying security threats and implementing preventive measures.
“One of the major updates is education in crisis. We are talking about recent cases of banditry, kidnapping and other security challenges affecting schools and communities,” she said.
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Uche added that the revised Safe School Initiative is a major component of the new policy, noting that many public primary schools remain vulnerable due to lack of fencing and limited security infrastructure.
She said communities are now expected to play a more active role in monitoring schools and advocating safety improvements to protect both learners and teachers.
“We have also introduced safe school initiatives because many public primary schools are not fenced and remain vulnerable. We want communities to become more involved in identifying risks and advocating measures that will make schools safer,” she added.
The move comes amid renewed national concern over repeated school kidnapping incidents, which have raised fears among parents and education stakeholders in several states.
In a related development, the Lagos State Police Command has stepped up security across the state following the circulation of a threatening notice alleging a planned attack and abduction of schoolchildren by suspected bandits.
The notice, reportedly found within a school environment, triggered anxiety among residents and parents. However, police authorities have reassured the public that there is currently no verified intelligence indicating an imminent attack in Lagos State.
The Police Public Relations Officer, SP Abimbola Adebisi, said Commissioner of Police Tijani Fatai ordered an immediate security review and directed the deployment of additional officers to schools, strategic locations and vulnerable communities as a precautionary measure.
“The Command wishes to reassure parents, guardians, school authorities and residents that there is currently no verified intelligence indicating any imminent threat of such an attack within Lagos State,” she said.
She added that security personnel, in collaboration with other agencies, have been deployed across key locations to prevent any attempt by criminal elements to disrupt public safety or target educational institutions.
The police warned that criminal groups, including kidnappers and bandits, would not be allowed to operate in Lagos, stressing that anyone attempting to cause panic or insecurity would face the full weight of the law.
The development reflects ongoing nationwide efforts to strengthen school security, as authorities intensify both preventive and response measures to protect educational institutions from attacks.
FG Unveils New Measures to Tackle School Abductions as Lagos Boosts School Security
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Updated: Senator Dafinone, ex-Delta SSG Assisted Rescue Efforts, Not Aboard Crashed Train — NRC
Updated: Senator Dafinone, ex-Delta SSG Assisted Rescue Efforts, Not Aboard Crashed Train — NRC
The Nigerian Railway Corporation (NRC) said Senator Ede Dafinone and former Delta State Secretary to the State Government, Patrick Ukah, were not among the passengers on board the Warri–Itakpe train that derailed near Agbor, Delta State, on Monday.
The clarification followed an earlier statement by the Federal Ministry of Transportation which listed the Delta Central senator and the former SSG among the 482 occupants of the train involved in the accident.
In a statement issued Tuesday, the Permanent Secretary of the Federal Ministry of Transportation, Funsho Adebiyi, identified Dafinone and Ukah as notable passengers on the train when the accident occurred on Monday.
But the NRC swiftly refuted the claim, insisting that neither Dafinone nor Ukah travelled on the ill-fated train.
According to the corporation, both men arrived after the incident and played key roles in coordinating emergency response and rescue efforts.
“The Nigerian Railway Corporation wishes to clarify that contrary to an earlier statement, Senator Ede Dafinone, representing Delta Central Senatorial District, and former Secretary to the Delta State Government, Hon. Patrick Ukah, were not passengers on board the Warri–Itakpe Train Service involved in the accident near Agbor,” the NRC said in a statement signed by its Managing Director, Dr. Kayode Opeifa.
“Both distinguished individuals rather greatly assisted in the mobilisation of first responders and other emergency personnel who participated in the rescue operations following the incident,” the statement added.
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The corporation expressed regret over the error and apologised for any embarrassment caused to the two prominent Delta figures, while commending their swift intervention during the rescue operation.
Beyond the disagreement over the passenger list, there were also discrepancies in casualty figures.
While the Ministry of Transportation reported that four people — two adult women, one adult man and an infant — lost their lives in the accident, the NRC had earlier announced that three passengers died in the derailment.
According to the ministry, the train carried a total of 482 persons, comprising 442 ticketed passengers and 40 crew members, security personnel and third-party service providers.
It added that 24 passengers sustained serious injuries, while several others suffered varying degrees of injuries and are receiving treatment in medical facilities around Agbor.
Adebiyi said emergency rescue operations involving the Delta State Government, the National Emergency Management Agency (NEMA), the Federal Road Safety Corps (FRSC), the Nigeria Police Force, the Nigeria Security and Civil Defence Corps (NSCDC) and other responders were immediately activated and concluded by about 6:30 p.m. on Monday.
The ministry and the NRC said investigations have commenced to determine the cause of the derailment, one of the most serious accidents recorded on the strategic rail corridor in recent years.
The incident comes barely weeks after the NRC suspended operations on the Warri–Itakpe route for 72 hours following a major technical disruption that stranded passengers for several hours, raising concerns about safety, maintenance standards and emergency response preparedness on the line.
Meanwhile, the House of Representatives has launched an investigation into the accident and is seeking compensation for affected passengers.
The resolution followed a motion sponsored by the Chairman of the House Committee on Rules and Business, Francis Waive, who described the Warri–Itakpe corridor as a critical transportation link connecting Delta, Edo and Kogi states.
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