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Marketers raise petrol prices amid drop in crude cost

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Filling stations have raised their pump prices for petrol to N900/litre and above despite a decline in the cost of crude oil since Sunday.

Some retail outlets owned by the Nigerian National Petroleum Company Limited raised petrol prices to N900 per litre in Lagos and Ogun, even as crude prices dropped from nearly $69 to $66 per barrel.

Dangote refinery partners, including Ardova and Heyden, jerked prices above N900 per litre. Our correspondent observed that AP, a partner of the Dangote refinery, sold petrol at the rate of N925 per litre in the Mowe area of Ogun State, while Heyden offered N910.

Filling stations along the Lagos-Ibadan Expressway displayed different prices on Monday, confirming a new price regime despite no significant rise in crude prices or the naira-dollar exchange rate.

But marketers said that the prices might come down this same week.

Throughout last week, petrol was sold below N900 in many of the filling stations in Lagos, Ogun and environs, while the prices were higher in the South-East, South-South and the North.

As of yesterday, TotalEnergies sold petrol at N910 while Asharami offered N905 per litre. NIPCO and Fatgbems were yet to hit the N900 line on Monday, selling petrol at N890 and N892 respectively. Enyo sold the product at N915 per litre.

On Friday, the Dangote refinery confirmed raising its ex-depot petrol price to N850 from N820. No reason was given for the increment. The latest data from Petroleumprice.ng showed that petrol depot prices among selected suppliers averaged N855 per litre. Prices ranged from N850 at Aiteo to as high as N870 at Sobaz and Mainland, reflecting slight variations across major depots.

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Other listed depots include NIPCO Lagos at N852, Northwest at N860, Alkanes at N860, Ever at N863, TSL at N864, Pinnacle at N851.5, Menj at N852, and Sahara at N855.

But as traders adjusted pump prices higher in Nigeria, Brent crude fell 4.4 per cent, while West Texas Intermediate finished 5.1 per cent lower on Friday. According to Reuters, oil held steady on Friday as markets awaited a meeting in the coming days between the Russian President, Vladimir Putin and his US counterpart, Donald Trump, but prices marked their steepest weekly losses since late June on a tariff-hit economic outlook.

Brent crude futures settled 16 cents, or 0.2 per cent, higher at $66.59 a barrel, while US West Texas Intermediate crude futures were unchanged at $63.88. US crude fell over 1 per cent earlier in the session after it was reported that Washington and Moscow were aiming to reach a deal to halt the war in Ukraine that would lock in Russia’s occupation of territory seized during its military invasion.

Marketers expect price drop

Speaking, the National Publicity Secretary of the Petroleum Products Retail Outlet Owners Association of Nigeria, Joseph Obele, said marketers were expecting a drop in fuel prices this week.

Obele noted that fuel prices went up because crude prices rose about 10 days ago. However, he noted that crude prices dropped a few days later, stating that pump prices should be adjusted downward this week.

“Last weekend, there was a rise in the price of crude oil. So, arising from that, the refineries responded by adjusting their price upwards. A few days later, the price dropped again, arising from the meeting between Trump and the Russian Ambassador.

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“What affected the price was the threat given by President Donald Trump to the Russian president. So, we saw an upward review and a few days later, when the threat subsided, traders reviewed the existing price downward. So, tomorrow, next tomorrow, we hope to see a downward review of the price of petroleum products,” he said

Obele added that another factor that pushed up petrol prices was the fact that the Dangote refinery “suspended PMS loading for about eight days.” The refinery had since denied this claim, saying it supplies 40 million litres of petrol daily. Obele concluded that “by Tuesday or so, we hope to see a downward review of petrol prices.”

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Business

Agricultural quarantine service postpones release of recruitment shortlist

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The Nigeria Agricultural Quarantine Service has postponed the publication of shortlisted candidates for its ongoing recruitment exercise, which was initially scheduled for Thursday, August 13.

NAQS said the decision was made to ensure a thorough, transparent and accurate recruitment process.

The agency announced the postponement in a public notice signed by the Director of Human Resources, ACG Issaka Ahmed, and posted on its X handle on Friday.

“In order to ensure a thorough, transparent and accurate process, we are unable to release the list of shortlisted candidates as scheduled,” the notice stated.

The agency apologised for the delay and urged applicants and members of the public to remain patient while awaiting a new date.

“We sincerely regret any inconvenience or uncertainty this delay may have caused and appreciate the patience, understanding and continued interest of all applicants.

“All applicants and the general public are hereby notified that a new date will be communicated in due course through our official communication channels,” it said.

The agency advised applicants to rely only on information released through its official channels.

The recruitment exercise, which opened on July 28 and closed on August 10, attracted 606,928 attempted applications, while 407,659 were successfully submitted, according to statistics released by NAQS on Wednesday.

The agency said 199,269 applications were incomplete at the close of the application period.

The Assistant Superintendent of Quarantine II cadre, requiring HND or bachelor’s degree, recorded the highest number of applications with 290,076, followed by Quarantine Assistant II with 117,177 applications.

Other cadres included the NCE category with 79,685 applications, OND with 70,170, and the Superintendent cadre requiring a master’s degree with 13,183 applications.

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PUNCH Online reports that NAQS said it will conduct a computer-based test and interviews on August 15, after shortlisted candidates are released on August 13.

However, candidates will now await new dates.

The recruitment exercise covers the Superintendent, Inspectorate and Assistant cadres.

Source: punchng.com

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Customs dismiss smuggling, revenue leakage allegations

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The Nigeria Customs Service has dismissed allegations of increased smuggling, revenue leakage, recruitment impropriety and manipulation of succession within the service, describing them as a misrepresentation of its operations and administrative processes.

The service’s National Public Relations Officer, Deputy Comptroller Abdullahi Maiwada, stated this in a response released on Thursday to an investigative report published by a media outlet (not PUNCH) on August 7, 2026.

The report had alleged intensified smuggling along the Seme, Idiroko, Ilaro, Ipokia and Igbeti-Kishi corridors, as well as manipulation of the 846 valuation code at the Apapa, Tin Can Island and PTML Area Commands.

Maiwada said the claim of a surge in smuggling was inconsistent with the service’s enforcement activities, pointing to regular seizures recorded along the affected corridors.

“Our responsibility is to reduce smuggling to the barest minimum, not to claim that it can be completely eradicated,” he said.

On the 846 valuation code, the NCS explained that it was a digital tool designed for vehicles with non-standard or non-compliant Vehicle Identification Numbers, including specialised heavy equipment, classic vehicles and customised models.

“The 846 code is an established digital valuation code within the Customs portal, specifically designated for vehicles with non-standard or non-compliant Vehicle Identification Numbers,” Maiwada said.

He added that standard vehicles were assessed automatically through manufacturer-linked databases, while 846 applications were subjected to secondary approval by valuation officers and Area Controllers.

Maiwada said discrepancies discovered through post-clearance audits could lead to Demand Notices for the recovery of short-collected duties and sanctions against offending operators, adding that revenue collections at major ports had reached historic levels under the digital framework.

On the recruitment of Assistant Superintendents of Customs II, the Service said the exercise was conducted under the authorisation of the Nigeria Customs Service Board and in line with the NCS Act 2023 and Federal Character Commission guidelines.

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It said successful candidates were issued provisional offers subject to medical verification, background checks and formal acceptance.

The Service also rejected allegations of succession manipulation and favouritism among officers, saying promotions were determined by seniority, merit, promotion examinations and available vacancies in accordance with established regulations.

“Succession and promotion within the Service are governed by established rules and career progression structures, not personal preference,” the Service said.

Maiwada said leadership training for Deputy Comptrollers was part of the Service’s human capital development strategy, aimed at strengthening trade operations, intelligence management and executive leadership.

He explained that approved training programmes and international exposures were funded through budgetary allocations or formal technical assistance arrangements with partner institutions.

Responding to calls for independent investigations, the NCS said it remained subject to oversight by the Federal Ministry of Finance, National Assembly, Office of the Auditor-General for the Federation and anti-corruption agencies.

“The management maintains a firm, intolerant posture toward corruption, revenue leakage or administrative misconduct,” the Service stated.

It added that any officer or stakeholder found culpable would face disciplinary action and prosecution in accordance with the law, while assuring Nigerians that the Service would cooperate with any legitimate investigation by statutory authorities.

Source: punchng.com

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Patience Jonathan revealed she mentored Azikel refinery boss Eruani from ‘small boy’ to big businessman

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Ex-President Goodluck Jonathan’s wife, Patience, has described the Group President of Azikel Group, Dr Azibapu Eruani, as a “small boy” she raised and mentored into the league of Nigeria’s biggest businessmen.

She said her guidance was behind his bold entry into big business at a relatively young age.

The former First Lady spoke on Tuesday in a video which went viral on Thursday during an inspection tour of the Azikel Refinery in Obunagha, Bayelsa State, alongside other dignitaries.

She said she personally introduced Eruani to billionaire businessmen, Aliko Dangote and Aminu Dantata, and pushed him to aspire to their level despite being the youngest among them.

“He’s a boy that I brought up. We are always together. Although he’s the little one among us when we are friends — Dangote, Seyi, Dantata, Eruani — among us, he’s the smallest. But I made sure he followed the Dangotes, he followed Dantata.

“Because I’m a woman in their midst, I made sure I told this small boy, ‘Go and follow them, and stop the grammar.’ But when he told me that one day he would be like Dangote, I said, ‘You’re thinking too high.’ I prayed to God to grant him his heart’s desire,” she said.

Group President of Azikel Group, Dr Azibapu Eruani

The former First Lady also recalled how the immediate past APC administration under Muhammadu Buhari initially failed to grant Eruani a refinery licence before eventually approving three.

“During the Buhari administration, he and others came to me and told me they were going to apply for a refinery. I told him, ‘Eruani, your brother, the President, did not give you a refinery.

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“Is it the APC government that will give you one?’ I prayed it would happen. But later, they came back and told me they had been given three refineries,” she said.

The inspection coincided with the arrival of the refinery’s Crude Distillation Unit, a major milestone in the development of the $1bn facility.

The 25,000 barrels-per-day plant is a private hydro-skimming refinery designed to process condensate into petrol, diesel, aviation fuel, kerosene and other products.

It is set to become Nigeria’s second-largest full-slate refinery and the first major privately owned refinery in the Niger Delta.

The Managing Director/Chief Executive Officer of the Niger Delta Development Commission, Samuel Ogbuku, who joined the inspection tour, commended Eruani for his perseverance, noting that he had attended the project’s groundbreaking ceremony eight years ago.

Ogbuku described the refinery as an inspiration and a potential catalyst for investment, job creation and economic growth in Bayelsa State, and urged residents, particularly youths, to key into the opportunities it would create.

 

 

He also praised the Bayelsa State Government for improving road infrastructure leading to the refinery site and called for continued support for the project.

Governor Douye Diri, who was represented at the inspection by his deputy, Peter Akpe, has consistently backed the project, which is expected to employ hundreds of workers and drive industrialisation in the state.

Other dignitaries at the event included the Chairman of the Bayelsa State Council of Traditional Rulers, King Bubaraye Dakolo; Vice President of Azikel Group, Presley Asemota; and Isaac Yalah, among others.

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Source: punchng.com

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