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Depot price hike: Marketers jostle to join Ardova, Heyden in Dangote Refinery bulk-purchase incentives

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Dangote Officials, Refiners Tackle Marketers Over Imported PMS

Depot price hike: Marketers jostle to join Ardova, Heyden in Dangote Refinery bulk-purchase incentives

… for competitive pump price

 

Attracted by the bulk-purchase agreement incentives being offered by the Dangote Petroleum Refinery, more oil marketers in the country are jostling to be listed as beneficiaries of the agreement.

 

The bulk-purchase agreement, the petroleum marketers reasoned, offers a guaranteed price stability as against purchase from depot owners whose price is opened to incessant upward review as has just been announced.

 

Recall that two prominent players in Nigeria’s downstream oil and gas sector – Ardova Plc and Heyden Petroleum – have entered into a bulk purchase agreement with the Dangote Petroleum Refinery after MRS; a situation they have leveraged on to sell petroleum at a much cheaper pump price.

 

The depot owners recently jerked up their loading price to N950 per liter from N909 citing increase in the price of crude oil in the international market, a situation that has forced most independent marketers to raise their pump price too to reflect the new higher price from the depot owners.

 

The Independent marketers are referring to the benefits of the bulk-purchase agreement with Dangote Refinery as being enjoyed by the three leading oil marketers, MRS, Ardova Plc and Heydey who have entered into the purchase agreement with Dangote refinery and are able to retain their lower pump price.

 

National President of Independent Petroleum Marketers Association (IPMAN), Alhaji Abubakar Maigandi Garima has confirmed that the association members are eager to sign on with Dangote Refinery and that they have been advised to do so by organizing themselves to pool resources together to be able to qualify for the bulk-purchase agreement.

Justifying the IPMAN new position, he said members could not continue to depend on depot owners for products when they can buy directly from the refinery bearing in mind that the minimum quantity to buy from Dangote Refinery is two million litres at N909 per litre.

 

The management of the Dangote Refinery citing economic relief provided by President Bola Ahmed Tinubu’s crude-for-naira swap initiative had announced a bulk-purchase offer incentives to the three leading downstream sector operators, so that Nigerians could heave a sigh of relief on the reduced pump price.

 

As the MRS, Ardova Plc and Heyden keyed into the arrangement, other petroleum marketers besieged the Refinery in Ibeju-Lekki, Lagos, seeking to be part of the bulk purchase deal, which guarantees steady supply of petroleum products and at competitive prices.

 

The desire to be part of the bulk-purchase agreement, it was also gathered, was also apparently being fueled by the testimonies from motorists who have been praising the impressive burn rate of fuel sourced from Dangote Refinery and sold in MRS filing stations which they said lasts longer compared to other products imported into the country and sold by others.

 

Dangote Refinery had said the strategic move was designed to further stabilise the nation’s fuel market and enhance energy security for consumers, as it would guarantee steady supply of petroleum products at affordable prices.

 

The bulk purchase agreement incentive by Ardova and Heyden came on the heels of a drop in the pump price of petrol by the management of MRS Oil Nigeria Plc, which had previously entered into a similar agreement with Dangote Refinery.

 

As a result, MRS Oil lowered its fuel prices to N935 per litre across all its stations nationwide, addressing the long-standing issue of price disparities between states. Furthermore, MRS Oil’s stock surged to a new 52-week high recently, as investors became increasingly optimistic about the company’s future earnings prospects.

 

Reports indicate that the bulk purchase agreement with Dangote Petroleum Refinery had also enabled both Ardova and Heyden to secure a reliable and consistent supply of petroleum products from the world’s largest single-train refinery at competitive prices, benefiting consumers across the country.

 

The arrangement ensures that Ardova and Heyden will have access to a full range of refined products, thereby securing their operations with a reliable supply chain. Other petroleum markers, reports said, are keen on signing similar agreement with Dangote Refinery as soon as they are allowed to, as most of them have majority of their filing stations in Lagos close to Dangote Refinery.

 

After signing the agreement, Ardova Plc, it would be recalled, had in a statement underscored the importance of this agreement in fostering a more competitive environment within Nigeria’s downstream oil and gas sector.

 

The partnership with Dangote Refinery is poised to have a positive, transformative impact on Nigeria’s oil and gas market. By ensuring a stable and affordable supply of fuel products in the over 1,000 retail outlets of the two companies, the agreement will help to alleviate the recurring issue of fuel scarcity that has long plagued Nigeria.

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Speaker Showdown : Lagos At The Crossroads – Alhaji Arems

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Speaker Showdown : Lagos At The Crossroads - Alhaji Arems

Speaker Showdown : Lagos At The Crossroads – Alhaji Arems

The political scene in Lagos has been nothing short of a rollercoaster lately. The recent days have witnessed a dramatic tug-of-war between Mudashiru Obasa and his deputy, Mojisola Meranda, leaving citizens and political pundits alike with more questions than answers. As a long-time observer of our vibrant state’s affairs, I feel compelled to unravel the threads of this saga for you.

Speaker Showdown : Lagos At The Crossroads - Alhaji Arems
It all began on January 13, 2025, when the Lagos State House of Assembly voted to impeach Speaker Obasa amid swirling allegations of gross misconduct and financial irregularities. His abrupt removal from the speaker’s chair sent shockwaves through the corridors of power, igniting a firestorm of debates among lawmakers and the public alike. In a swift turn of events, Meranda was installed as the new Speaker, a move that many hailed as a step toward restoring order and accountability.

Yet, as with all matters of state in our dynamic political landscape, the story is far from black and white. Obasa, undeterred by the impeachment, has mounted a vigorous counter-narrative. He insists that his dismissal was nothing more than a politically motivated maneuver designed to tip the scales ahead of the 2027 elections. His supporters argue that the impeachment process was fraught with irregularities—a claim that has since found its way into court filings and heated debates in our public squares.

Adding further complexity are the ongoing legal challenges. Courts are now weighing in on the propriety of the impeachment, with petitions from both camps stirring uncertainty about whether the decision to replace Obasa was executed in strict accordance with our constitutional mandate. Each legal development seems to throw a new twist into an already convoluted dispute, leaving the House of Assembly and the people of Lagos in a state of suspended governance.

As the drama unfolds in legislative chambers and courtrooms, every statement and counterstatement seems only to deepen the mystery. The political arena in Lagos remains as divided as ever, with every faction laying claim to the title of true Speaker.

WHO IS THE REAL SPEAKER OF LAGOS STATE?

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TY Buratai Foundation Provides Free Medical Outreach, Benefiting Over 1,800 in Kano

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TY Buratai Foundation Provides Free Medical Outreach, Benefiting Over 1,800 in Kano

The TY Buratai Humanity Care Foundation, in collaboration with the Tukur & Tukur Foundation, has successfully conducted a free medical outreach in Kano State, providing essential healthcare services to over 1,800 people.

TY Buratai Foundation Provides Free Medical Outreach, Benefiting Over 1,800 in Kano

The initiative was organized at the invitation of the Kano State Hisbah Board, aiming to support those who serve the community selflessly.

In a statement, the Chairman of the Foundations, Ibrahim Dahiru Danfulani, along with Col. Haruna Idris Zaria (Rtd), emphasized the importance of the outreach in delivering critical medical care to those in need.

The event was marked by a ceremonial presentation attended by members of the Kano Hisbah Board. Sheikh Aminu Ibrahim Daurawa, Commander-General of the Hisbah Board, expressed profound gratitude to the foundations for their dedication to improving the health and well-being of Hisbah personnel, their families, and the general public.

Sheikh Daurawa highlighted the pressing need for medical intervention, noting that many Hisbah officers are elderly, with some in their 90s, and suffer from serious health conditions.

“This medical outreach is critical. Many of our officers struggle with severe visual impairments, hearing loss, and other chronic ailments. Addressing these health challenges will enhance their productivity and overall well-being,” he said.

He also extended appreciation to Kano State Governor Abba Kabir Yusuf for supporting the initiative and commended the foundations for prioritizing the health of Hisbah personnel.

“We sincerely thank you for dedicating your time and resources to provide this vital health support. We pray for divine blessings upon the founders and benefactors of these noble foundations,” Sheikh Daurawa added.

He further acknowledged the visionary leadership of the Grand Patron of the Tukur & Tukur Foundation, Lieutenant General Tukur Yusuf Buratai (Rtd), for spearheading health-focused initiatives that positively impact underserved communities.

Sheikh Daurawa concluded by offering prayers for all stakeholders and healthcare professionals involved in the outreach, emphasizing that supporting health, education, food security, and vocational empowerment is essential for societal growth.

“By uplifting humanity, we uplift the entire society,” he said.

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NADECO Chieftain Blasts Babangida: ‘Shameless, Unremorseful Over June 12 Annulment’

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NADECO Chieftain Blasts Babangida: ‘Shameless, Unremorseful Over June 12 Annulment’

NADECO Chieftain Blasts Babangida: ‘Shameless, Unremorseful Over June 12 Annulment’

A chieftain of the National Democratic Coalition (NADECO), Ayo Opadokun, has launched a scathing attack on former Head of State, General Ibrahim Badamosi Babangida (IBB), over his recent admission of wrongfully annulling the June 12, 1993, presidential election. Opadokun labeled Babangida’s so-called confession as pretentious, dubious, and devoid of any genuine remorse.

Babangida, in his newly released 420-page autobiography, Journey in Service, acknowledged the annulment of the historic election, which was widely believed to have been won by Chief MKO Abiola. However, Opadokun dismissed the admission as a desperate attempt at revisionism, accusing the former military ruler of seeking to manipulate history rather than confront his role in one of Nigeria’s darkest political betrayals.

‘Babangida is Dancing on the Graves of Innocent Nigerians’

Speaking on Wednesday, Opadokun did not mince words, condemning Babangida for what he described as shameless posturing and a calculated effort to rewrite history.

“The so-called admission is not only pretentious, but it is also deeply dubious and entirely lacking in remorse. In his 420-page book, General IBB engages primarily in revisionism, obscurism, and escapism. He has not disclosed anything new,” Opadokun declared.

Beyond the annulment itself, the NADECO leader lashed out at Babangida for showing no remorse for the bloodshed and national chaos that followed his decision. He accused the former dictator of “dancing on the graves of innocent martyrs” who died fighting for democracy.

“He is shamelessly dancing on the graves of innocent Nigerians who were killed simply so he, a military dictator, could cling to power and continue looting public funds for himself, his family, and his allies,” Opadokun fumed.

‘June 12 Bloodshed is on Babangida’s Hands’

Recalling the violent aftermath of the election annulment, Opadokun painted a grim picture of military repression, extrajudicial killings, and state-sponsored violence against pro-democracy activists. He pointed to the assassination of Kudirat Abiola, the widow of the acclaimed election winner, as a chilling example of the brutality that followed Babangida’s decision.

“In Ikorodu, when we attempted to bury three young victims, security forces overpowered us. They ordered us to tell the families to retrieve their loved ones’ remains without any ceremony. They even slapped mourners to silence them,” he recounted, emphasizing the merciless crackdown on dissenters.

Opadokun argued that Babangida should be held accountable for treason, given the far-reaching consequences of his actions. He recalled watching an interview with Professor Humphrey Nwosu, Chairman of the National Electoral Commission (NEC), where Nwosu confirmed that collation had been completed and that Abiola had indisputably won the election—even defeating his opponent, Bashir Tofa, in his home state of Kano.

“There is nothing new in what Babangida has said. It was already public knowledge that Abiola won, as polling unit results were displayed up to the state collation centers. Even his former political adviser, Professor Omo Omoruyi, affirmed this in his own book,” Opadokun added.

‘Babangida’s Betrayal Will Never Be Forgiven’

Opadokun went further to blame Nigeria’s stagnation on prolonged military rule, stating that the military’s intervention in politics—beginning with the January 15, 1966 coup—marked the country’s decline.

“The military’s reckless interference has stunted Nigeria’s growth. Their forceful takeover in 1966 arrested our national development and reduced us to nothing,” he lamented.

Rejecting any notion that Babangida’s admission could lead to reconciliation, Opadokun insisted that the former dictator remains morally culpable for the lives lost in the aftermath of June 12.

“Too many lives were lost because of him. Too much blood is on his hands, yet he still pretends to be a statesman,” he said.

Concluding, Opadokun declared that Babangida’s legacy will forever be tainted by the annulment of Nigeria’s freest and fairest election, and that his latest remarks were nothing more than a failed attempt to sanitize his image.

“History will not absolve Babangida. He stole democracy from Nigerians and plunged the nation into darkness. No amount of revisionism can change that,” Opadokun asserted.

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