NIGERIA NEWS
Boko Haram Attacks Home of Police Officer in Yobe, Burns Property — Akelicious
Suspected Boko Haram gunmen reportedly attacked the residence of ASP Mohammed Modu, Officer-in-Charge of Tattaba Out Station, Bara Division, Gulani Local Government Area, Yobe State, in the early hours of 9 December.
Akelicious learnt that at about 0130 hours, the terrorists invaded three houses belonging to the officer, stole his Haojue motorcycle, three bicycles, a Golf 3 motor vehicle, and other personal belongings, before setting the three houses and a Honda Civic vehicle ablaze.
The attack was allegedly orchestrated by informant within the community who coordinated with the terrorists.
Security operatives visited the scene and documented the damage, with no casualties reported.
The officer has been advised to exercise heightened caution while monitoring and patrols have been intensified in the area to prevent further attacks.
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NIGERIA NEWS
EndSARS: There Was No Massacre At Lekki Tollgate
A former minister of information in the administration of late President Muhammadu Buhari, Lai Mohammed, has insisted that there was no massacre at the Lekki Tollgate during the mass protest over the now-disbanded Special Anti-Robbery Squad (SARS) in October 20, 2020.
Speaking during an interview on Channels Television’s Sunrise Daily on Monday, he said people lost their during the protest but not at the Lekki Tollgate.
He said: “Our position on EndSARS was very clear. At no point did the Federal Government say there were no casualties during EndSARS; there were casualties.
“We reported them, we admitted them. Thirty-seven policemen lost their lives. Six soldiers lost their lives during EndSARS.
“Nobody speaks about this, but we admitted it. We give the numbers that lost their lives in Kano, in Abuja, everywhere, but what we said and what we still insist on, that there were no massacres at the Lekki tollgate.
“And I think this is where I disagreed with the CNN. The CNN was not at the lucky tollgate. CNN relied on poorly sourced stories to write its story.”
According to Lai Mohammed, the Lekki Tollgate saga “is the only massacre in the whole of the world where there are no bodies”.
He disclosed that he devoted a whole chapter to the event in his book, ‘Headlines And Soundbites: Media Moments That Defined An Administration’.
He also said that the book sets out to correct erroneous beliefs in the public space.
“This is the only massacre in the whole of the world where there are no bodies. People died in Alimoso, people died everywhere, but there was no massacre at the tollgate, and I challenge anybody to come and tell me today that ‘my son or my daughter was at the tollgate, he didn’t come back home,” he stated.
NIGERIA NEWS
Transcorp, UBA, Linkage Assurance top stock pick this week
Nigerian stocks sustained their uptrend last week, adding 1.6 per cent, driven by growing demand for consumer goods shares.
Financial services stocks alone accounted for more than half of trade.
The resilience the Nigerian equity market has built for itself so far this year continues to improve, demonstrated in its ability to weather shocks from the sell pressures that typically result from institutional investors rebalancing their portfolio towards the end of the year.
Riding on that strength and improving investor confidence, the market has reported two strong weekly gains in quick succession this month.
“The Nigerian equity market may continue to experience measured optimism this week. Broad-based sectoral gains, particularly in banking, ICT, Food and beverages, and building materials, alongside sustained NGX-ASI momentum, could support positive investor sentiment,” analysts at United Capital said in their outlook on Monday.
“Key drivers will include upcoming macroeconomic data, corporate earnings updates, and any fiscal developments that signal effective spending and investment management,” they added.
PREMIUM TIMES has assembled some stocks with sound fundamentals, adopting rigorous approaches to save you the risk of picking equities at random for investment.
The pick, a product of an analytical market watch, offers a guide to entering the market and taking strategic positions in hopes that selected stocks will record reasonable price appreciation with the passage of time.
This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.
Transnational Corporation (Transcorp)
Transcorp tops this week’s list for its currently robust fundamentals and for trading close to its lowest price in 52 weeks, which offers a good entry point to potential investors.
The net profit ratio (NPR) of the company is 22.2, while the price-to-earnings (PE) ratio is 6.9x. Its relative strength index (RSI) is 45.3.
United Bank for Africa (UBA)
UBA appears on the pick for trading below its intrinsic value and for its strong fundamentals.
The NPR of the pan-African lender is 23.4, while the PE ratio is 1.9x. The RSI is 36.3.
Linkage Assurance
Linkage Assurance makes the cut for trading below its fairly strong fundamentals. The insurer’s NPR is 162 per cent, while the PE ratio is 4.9x. Its RSI is 43.9.
BUA Cement
BUA Cement makes the cut for its fairly strong fundamentals. The company’s NPR is 15.8 per cent, while the PE ratio is 17.4. The RSI is 33.9.
Living Trust Mortgage Bank
Living Trust makes the list for its fairly strong fundamentals. The NPR is 14.8, while the PE ratio is 23.3x.
NIGERIA NEWS
Over 50 CSOs Clear NMDPRA Boss Farouk Ahmed of Corruption Allegations
…Accuse Dangote of undermining regulatory independence
Over fifty Civil Society Organisations (CSOs) on Monday rose in strong defence of the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, unanimously dismissing allegations of corruption levelled against him by Mr Aliko Dangote, Chairman of Dangote Industries Limited, as false, unfounded and unsupported by evidence.
The CSOs made their position known at a joint press conference in Abuja, where they described the allegations as a calculated attempt to discredit the leadership of the NMDPRA over its firm stance against monopolistic practices in Nigeria’s midstream and downstream petroleum sector.
Addressing journalists on behalf of the coalition, the Convener, Comrade Ibrahim Bello, who is also the National Coordinator of the Centre for Fiscal Transparency and Public Integrity (CFTPI), said the organisations had conducted internal reviews and assessments and found no basis whatsoever for the claims of corruption against the NMDPRA boss.
“Our findings clearly show that Mr Farouk Ahmed has not engaged in any corrupt practice. Rather, he has been repositioning the downstream sector to promote fairness, competition and efficiency, while ensuring that no single entity monopolises the industry to the detriment of Nigerians,” Bello stated.
He added that the leadership of the NMDPRA under Ahmed has remained faithful to the provisions of the Petroleum Industry Act (PIA), strengthening regulatory transparency and creating opportunities for more investors to participate in the sector.
The coalition specifically debunked claims attributed to Mr Dangote that the NMDPRA CEO allegedly paid five million United States dollars ($5 million) as school fees for his children in Switzerland, stressing that no proof or verifiable evidence had been provided to substantiate such assertions.
According to the CSOs, making such grave allegations in the media without recourse to due process poses a serious threat to Nigeria’s regulatory institutions and reform agenda.
Prominent members of the coalition who endorsed the position include Hajiya Fatima Sani, Executive Director of Citizens Watch for Good Governance (CWGG); Barrister Chukwudi Eze, Chairman of the Accountability and Democratic Values Initiative (ADVI); Dr Mrs Ngozi Okeke, President of the Nigerian Coalition Against Corruption and Waste (NCACW); and Pastor Emmanuel Adebayo, General Secretary of the Voice of Conscience Foundation (VOCF).
Others are Mr Tunde Ogunleye, National Convener of the Integrity Monitors Network (IMN); Ms Chioma Nwosu, Chairperson of Patriots for Transparent Procurement (PTP); Comrade Aisha Yusuf, National Secretary of the Civil Liberties and Anti-Corruption Movement (CLACOM); and Engr. Musa Abdullahi, Director of Programmes at the Due Process Advocacy Network (DPAN).
Also lending their voices were Prof. Grace Adeyemi, Board Chair of the National Alliance for Ethical Leadership (NAEL); Mr Segun Olawale, Spokesperson for the Citizens Coalition for Open Governance (CCOG); Barr. (Mrs.) Funmi Adewole, Legal Adviser to the Justice and Accountability Project (JAP); and Alhaji Usman Danladi, Northern Coordinator of the Nigerian Integrity and Development Forum (NIDF).
Regional leaders present included Rev. Fr. Joseph Okon, South-South Zonal Chairman of the Public Funds Protection Movement (PFPM); Ms Bolanle Adeoti, Women Leader of Transparency and Responsibility Advocates (TRA); Elder Peter Okonkwo, South-East Coordinator of the Good Governance Monitors Assembly (GGMA); and Mallam Bello Yakubu, North-West Chairman of the Anti-Corruption Crusaders Network (ACCN), alongside representatives of several other organisations.
The CSOs argued that the sustained attacks on the NMDPRA leadership stem from its refusal to compromise regulatory standards or allow any company to dominate the petroleum downstream space.
“We believe these allegations are aimed at intimidating the regulator because of its insistence on fairness, competition and value for Nigerians,” the coalition said.
While reaffirming their commitment to transparency and accountability, the organisations urged individuals and corporate entities with genuine grievances to follow due process, rather than resorting to media trials.
They called on Nigerians to disregard the unproven allegations, urged stakeholders in the petroleum sector to respect regulatory institutions, and appealed to the Federal Government to continue supporting the independence and reform-driven leadership of the NMDPRA.
The coalition concluded by reaffirming its full confidence in Mr Farouk Ahmed, describing him as a regulator whose actions have strengthened credibility, boosted stakeholder confidence and safeguarded the national interest in Nigeria’s midstream and downstream petroleum industry.
NIGERIA NEWS
Lady in Tears as Theives Break Into New Shop Weeks after Taking Loan to Launch It: “Cruel World”
- A young Nigerian lady has lamented bitterly on social media after her shop got burgled by unknown hoodlums
- In a video posted via her official TikTok account, she disclosed that she had just opened the shop shortly before the incident happened
- Emotional reactions trailed the video on TikTok as social media users stormed the comments section to console her
A Nigerian lady shared her pain online after her business place suffered a break-in carried out by unidentified individuals.
The incident reportedly happened shortly after she launched the shop, leaving her terrified by how quickly her efforts were ruined.
Lady in tears as her new shop gets burgled.
Photo credit: @BigTola/TikTok.
Source: TikTok
Lady’s new shop gets burgled
A video she uploaded captured the aftermath of the incident, showing clear signs of forced entry and theft, which stirred sympathetic reactions.
Identified as @bigtola on TikTok, the heartbroken shop owner shared the background story regarding the theft incident.

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Controversy trails Nons Miraj’s Bold Advice to men on how to prove their love: “Rent a place 4 her”
According to her, she collected a loan to open the shop, hoping to make sales and repay the loan shortly afterwards.
She also explained that the business had only recently commenced operations earlier in November, making the incident more heartbreaking.
“Cruel world. I just opened this shop on the 1st of November. Not even up to one month, people are very wicked. Nah loan money. I don’t know where to start from,” she lamented.
Lady laments online as thieves break into her new shop.
Photo credit: @BigTola/TikTok.
Source: TikTok
Reactions as lady’s new shop gets burgled
TikTok users stormed the comments section to react to the trending video.
@Dacyn said:
“This comment sections have me thinking ‘maybe we Nigerians deserve everything that is happening to us, becos why are some people still making jokes about her predicament? Like how would y’all feel if it was u in her place? Maybe we deserve BAT.”
Fave 1007 said:
“This really broke my heart. Some people can be heartless sha. What if she collect No1 for ajo or it’s a loan, where she wan start from. If person no work wahala, if em work again, na fear of teef and. God will come through for you baby. Ile oba Tojo no, Ewa Loma bukun by God’s grace.”
Read also
“Wetin be this o?” Lady displays shoes her uncle sent from US, people react
@Affordable Tees Plug in Lagos said:
“Atleast u people should plz b checking the area if it has security omo God no go allow us do mistake ooo.”
@EBE added:
“This is so heartbreaking, this happened to my mum 2016, up till now, we are still battling to get back its been God’s grace. I pray God will restore all you’ve lost and I pray you find your feet soon. I’m sorry sorry for your lose stranger.”
@ayitrace added:
“I’m truly disgusted about the fact that empathy no longer exists in Nigeria, if I wasn’t watching the video and seeing that the lady is crying bitterly, I won’t believe this is not a joke because of the comment section. We have lost our humanity, we have lost our conscience as a people. it’s just sad. Please I pray that this woman will get back on her feet soon. I don’t want to even imagine the cost she has to settle. Omo.”
Read also
Primary school classmate of Peter Okoye Psquare bumps into him at airport, video melts hearts
See the post below:
Lady weeps as thieves break into boutique
Meanwhile, Legit.ng previously reported that a Nigerian lady expressed her pain on social media after thieves broke into her home and took her goods.
In a video, the heartbroken businesswoman displayed the hole the thieves made in the ceiling to gain access.
Source: Legit.ng
NIGERIA NEWS
“I’ve never possessed even ₦5 million in my entire life”

Notorious bandit leader, Bello Turji, has rejected claims that he received money or vehicles during peace negotiations with the Zamfara State Government.
In a viral video circulating on social media, Turji insisted that his activities are not motivated by personal gain.
Claims of Payment Denied
The video comes in response to allegations by Musa Kamarawa, a former peace mediator appointed by Sokoto and Zamfara state governments.
Kamarawa had alleged that Turji collected N30 million during meetings with former Zamfara Governor Bello Muhammad Matawalle, who is now Minister of State for Defence.
He also claimed that vehicles were distributed to the bandit group.
Turji Rejects Allegations
In the footage, Turji denied the accusations. He said:
“By Allah, since I was born, I have never possessed even N5 million. What I am doing is not for personal gain. We were never given the N30 million you are talking about.”
Accusations of Betrayal
Turji accused Kamarawa of betraying the trust established during negotiations, describing his claims as “false and mischievous testimony.”
“We agreed on peace when the Zamfara State government appointed you. But what you are saying now is full of lies and deceit. I did not even receive N3 million,” He stated.
NIGERIA NEWS
APC would’ve loved to take Anambra – Farouk Aliyu
A chieftain of the All Progressives Congress (APC), Farouk Aliyu, has said the ruling party would have liked to win the recently conducted gubernatorial election in Anambra State.
Aliyu made the remarks on Monday while fielding questions on Arise Television’s Morning Show, amid claims that Nigeria is drifting toward a one-party state.
According to him, there was no agreement between the Federal Government and any state to force political alignment, stressing that Governor Chukwuma Soludo’s decision to support President Bola Tinubu was made independently.
He said the APC contested in Anambra and lost, adding that the outcome should be accepted as part of the democratic process.
Aliyu also dismissed allegations that anti-corruption agencies were being weaponised against opposition figures, insisting that prosecutions by the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) were based on allegations and evidence, not party affiliation.
He said: “Well, about a one-party state, you know, it’s really very subjective because there is no coercion, absolutely no coercion. Your colleague who left here before I came mentioned what happened in Anambra State. I mean, there is no deal between our government and any of these states.
“So, in his wisdom, Governor Soludo decided to say he was going to support Mr. President. And we would have loved to take Anambra State, which means APC, our people, should win that contest. We lost, and that’s it.
“So, any of these governors that, you know, come to us, do we tell them, ‘No, don’t come?’ There is no coercion.
“And if anybody talks about being victimized by the anti-corruption agencies, the question you should put to them is: Are there grounds? Is it true? Are there allegations? These are allegations.
“As of today, there are senior members of our party, the APC, who have been prosecuted by EFCC or ICPC. But you know, it’s part of the opposition. I mean, I don’t blame them, they can say whatever they want to say, but there is no evidence whatsoever to show that we are weaponising the EFCC against anyone in this country, for that matter.”
NIGERIA NEWS
El-Rufai Breaks Silence, Rejects 2027 South Presidency Claim
Former Kaduna State Governor, Nasir El-Rufai, has publicly denied claims linking him to comments on which region should produce Nigeria’s president in 2027.
He described the reports as false and misleading, saying they did not reflect his views in any form.
The claims, which circulated widely on social media, alleged that El-Rufai stated that the presidency should shift to the South in 2027.
Some reports also suggested that he was quietly supporting Labour Party’s 2023 presidential candidate, Peter Obi, ahead of former Vice President Atiku Abubakar.
Reacting to the reports, El-Rufai dismissed them outright. He said the information being circulated was completely fabricated and did not originate from him.
In a statement shared on his official X account on Monday, the former governor described the report as “untrue” despite how widely it had spread.
He said he never made such comments in any speech, interview, or post on his verified platforms.
“My attention has been drawn to a trending fake news item alleging that I specified which region of the country should produce the president in 2027.
“This claim is untrue, despite its virality. I did not make such a statement in any of my speeches, interviews or social media posts. I maintain verifiable social media platforms where I speak my mind and express my personal views directly.
“It is also wrong and improper to attribute to me opinion articles written by other authors, even when I share such articles on my platforms as contributions to the national conversation.
“These clarifications are crucial as we confront both irresponsible politicking and the deliberate misuse of social media for the spread of fake news.
“The wilful attribution to me of claims I did not make by fake news platforms is no justification for treating such platforms with any seriousness.”
El-Rufai warned that the spread of false information was becoming dangerous, especially as political activities ahead of 2027 begin to gather momentum.
He stressed that media professionals and influential voices must take responsibility for verifying claims before publishing or sharing them.
He noted that the failure of some editors and commentators to verify information only fuels misinformation and public confusion.
“In this age of turmoil and falsehood, the obligation to verify information before posting or publishing has become more important than ever. In this instance, it appears that some senior editors ignored this duty.
“Society stands to lose when media leaders align with the most irresponsible actors on social media in what can only be described as the unedifying Olympics of fiction and fakery. Everyone must live up to their responsibility.
“I wish to reiterate that no views should be attributed to me unless I have explicitly expressed them on my official social media platforms or during interviews with reputable media organisations,” the statement added.
The former governor also called on political actors and the general public to act responsibly, urging Nigerians to resist the temptation of spreading unverified political narratives.
NIGERIA NEWS
Buhari Achieved So Much in Eight Years and Left a Legacy – Lai Mohammed
Former Minister of Information, Lai Mohammed, has said that former President Muhammadu Buhari achieved a lot during his eight years in office and left behind a lasting legacy.
Mohammed stated that Buhari’s record in office should not be judged based on the actions or trials of a few former ministers.
He insisted that the former president’s contributions to Nigeria remain significant and enduring.
“I don’t think the legacy of Buhari is on trial. He did so much within his eight years,” Mohammed said.
He made the remarks during an appearance on Channels Television’s Sunrise Daily on Monday. The former minister was responding to questions about some former ministers of the Buhari administration who are currently facing investigations and trials.
According to Mohammed, it would be unfair to link the personal issues of a few officials to the overall performance of the former president.
He argued that Buhari’s administration should be assessed based on its policies, reforms, and long-term impact on the country.
“The legacy of Buhari is so huge, and it’s so enduring that it will be unfair to take the issue of a few ministers who have been alledged, as if the entire legacy of former President Muhammadu Buhari is on trial….”
Mohammed explained that Buhari’s government recorded achievements in key areas such as infrastructure development, agriculture, social investment programmes, and the fight against corruption.
The Ex-Minister noted that no administration is without challenges, but Buhari’s efforts should be acknowledged within the broader context of governance.
He also stressed that accountability processes involving former officials should be allowed to run their course without dragging the image of the former president into controversy.
According to him, individual responsibility must be separated from collective judgment of an administration.
Mohammed maintained that history would be kinder to Buhari and that many of his policies would be better appreciated with time. He added that legacy should be measured by impact, not by ongoing legal cases involving former aides.
Recall, POLITICS NIGERIA earlier reported that some former ministers and top appointees who served under ex-President Muhammadu Buhari have recently been mentioned in ongoing corruption investigations.
Among those linked to various allegations are former Minister of Labour, Chris Ngige, and former Attorney-General of the Federation, Abubakar Malami.
NIGERIA NEWS
The Golf Resort Lifestyle: What It means to live at Hutu Exclusive
- Hutu Exclusive by Mshel Homes is Abuja’s first eco-friendly golf resort estate spanning 118.21 hectares along Airport Road and offering a lifestyle that combines nature recreation and convenience
- The estate features a championship-level golf ecosystem, artificial lakes, green spaces and essential amenities, including a shopping mall, school clinic and resort facilities for a refined living experience
- Prospective homeowners can choose from various land sizes and modern apartments, with a price review set for January 2026, making early investment a strategic opportunity in Abuja’s fast-growing corridor
Globally, golf resort estates are known for attracting a rare class of homeowners and Investors; people who appreciate privacy, serenity and a lifestyle that feels refined at every level.
Abuja is steadily entering this league, and leading that shift is Hutu Exclusive by Mshel Homes, the first eco-friendly golf resort estate in the federal capital.
It introduces a lifestyle that fuses nature, recreation, and long-term value in a way the city has not experienced before.
Hutu Exclusive spans 118.21 hectares along Airport Road, just before Centenary City, a location already attracting interest from high-value developments. Its proximity to key areas such as the Nnamdi Azikiwe International Airport, Idu Train Station, Central Area, and Arab Quarry strengthens its position.
The estate follows a clear philosophy: Live. Play. Relax.
This is reflected in its carefully planned environment and its standout feature: a full championship golf ecosystem designed for both casual and professional play. Residents will have access to a three-hectare mini golf course for relaxed rounds and a twenty-hectare flagship-level golf course designed for a complete golfing experience.
Construction is in progress on the golf course, the landscaping and the clubhouse, with golf carts planned to move residents effortlessly across the estate’s grounds.
What sets Hutu Exclusive apart is its integration of leisure and everyday convenience. Features such as artificial lakes and green spaces shape the estate’s calm atmosphere, supporting a lifestyle that feels both refreshing and intentional.
At the same time, the presence of a shopping mall, school, science museum, and worship centres makes daily life more convenient for individuals and families. Essential services are built into the masterplan, including a clinic, fire station, police station, gas station, car wash, and workshop, ensuring residents live comfortably and with the assurance of a higher standard of living.
Leisure seekers are also included in the plan, as the Amusement Park, Five-star Restaurant, Resort Hotel, Beauty Parlours, Artificial Lakes, and Golf Courses are all within easy reach.
Prospective homeowners can choose between estate land and modern apartments. Estate lands range from 150sqm, 250sqm, 350sqm, 450sqm,500sqm, 750sqm and 100sqm, suitable for different property options such as terraces, semi-detached and fully detached duplexes, while 1, 2 and 3 modern apartments offer a streamlined living experience. Both options grant access to the estate’s resort-style lifestyle and the long-term growth expected in this rapidly expanding corridor.
Living at Hutu Exclusive centres on quiet mornings, open views of the greens, and evenings in a private, well-planned community. The concept of this estate reflects an understanding of what wealthy homeowners value: space, privacy, beauty and an environment that supports personal well-being. As development progresses and each phase introduces new facilities and landscaping details, the estate remains one of Abuja’s most desirable residential destinations.
For investors who understand market timing, this is a defining moment. A new price review takes effect on 1st January 2026, signalling the estate’s transition into a higher value class. As construction on the golf ecosystem, community infrastructure, and landscaping progresses, demand continues to intensify, making today’s pricing a strategic entry point.
Hutu Exclusive is moving forward, and so should you. Opportunities like this don’t wait. With its unique golf-resort lifestyle, unmatched scale, and fast-rising location, securing a position now puts you ahead of the value curve before the next phase reshapes the market.
Take the step today by owning a home in Abuja’s first golf resort estate and claim a lifestyle built for those who move early, think long-term and live above the ordinary. To make an enquiry or secure your property today, contact Mshel Homes on all social media platforms @mshelhomes or call 09069951704 or 08133933449 to experience golf living.
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NIGERIA NEWS
Dangote announces new petrol price, reveals where Nigerians can buy cheaper fuel
Petrol price cut plans are set to take effect as MRS and other Dangote Refinery partners prepare to sell fuel at N739 per litre nationwide.
The petrol price cut follows a reduction in Dangote Refinery’s gantry price from N828 to N699 per litre, announced at the Lekki facility.
Dangote vows to enforce petrol price cut
Speaking on Sunday, Dangote Group President Alhaji Aliko Dangote said some marketers frustrate the petrol price cut by keeping pump prices high.
He said MRS stations would begin implementing the petrol price cut from Tuesday, while other partners would follow gradually.
Dangote alleged that some officials met with marketers and urged them to keep prices high to block the petrol price cut.
According to him, such actions would not stop his resolve to enforce lower prices nationwide.
“I was told that the marketers have met with (some officials) and were told to make sure that the price is maintained high. But this price we are going to introduce, we are going to start with MRS stations most likely on Tuesday in Lagos; that N970 per litre, you won’t see it again.
“We have also asked members of IPMAN to come now. We have asked anybody who can buy 10 trucks to come and buy 10 trucks at N699.
“We are going to use whatever resources that we have to make sure that we crash the price down. We will get these sales; maybe it will take us a week to 10 days. But first of all, within a week to 10 days, we will be able to deliver.
“For this December and January, we don’t want people to sell petrol for more than N740 nationwide. Those who want to keep the price to sabotage the government, we will fight as much as we can to make sure that these prices are down. That’s not the price. If you have money to come and buy, you can pick up petrol at N699,” he said.
Dangote said transporting petrol costs no more than N15 per litre, questioning pump prices nearing N900 despite the petrol price cut.
He accused the NMDPRA of issuing 47 import licences for over seven billion litres in early 2026, harming local refineries.
“Freight within Lagos is N10 or N15, maximum. So if it’s N10 to N15, everything is going to cost you N715. Why do you want to sell at N900? People should get the real price.
“I cannot come now and take the hit. Did we make money? No, we didn’t make money. But as we speak now, even our tanks are full because the NMDPRA has issued reckless licences. And we have to now go and complain to the government.
“They normally issue licences in the middle of the month. So, they are now ready to issue licences for about 7.5 billion litres for the first quarter of 2026, despite the fact that we have guaranteed to supply enough quantity.
“If you are talking about monopoly, did we stop anybody? They issued 47 licences. Let those people come and put up a refinery here, or let them go and buy even NNPC’s and operate them. If it’s profitable, they should go and do that now. NNPC was the only business that was bringing in fuel before.
“Now, we are the only one and one of the few modular refineries that are producing. Those modular refineries, I can tell you for nothing that they are almost on the verge of collapse. None of them is making a dime,” he added.
Dangote assured Nigerians that the petrol price cut would be enforced, starting with MRS stations on Tuesday.
“Starting from Tuesday, MRS will start selling petrol at N739/litre. Definitely, we will enforce that low price. We will make sure that it’s implemented.
“If you have your truck, you can come here and buy it. We are selling at N699. The N699 includes the percentage of NMDPRA. So what actually comes out to us is about N389 or so,” he stated.
When contacted, NMDPRA spokesman George Ene-Ita declined comment, saying, “For now, no comment.”
