Business
Marketers Questions NNPC for Selling Dangote Refinery Petrol Higher Than Imported Fuel

Oil marketers on Monday argued that it wasn’t normal for the Nigerian National Petroleum Company Limited (NNPC) to sell petrol produced locally from the Dangote refinery to Nigerians at a pump price higher than imported fuel.
Coming under the umbrella of the Independent Petroleum Marketers Association of Nigeria (IPMAN), the oil marketers stressed that it then means that there was no cause for celebration if imported products are cheaper.
“If NNPC can sell Dangote product higher than the imported product, it doesn’t make sense. What is the celebration we’re having all this while then?, ” IPMAN’s National Welfare Officer, John Kekeocha, said on Channels Television.
Last Sunday, the NNPC began loading the first batch of petrol from the Dangote Refinery on Sunday, saying it got petrol at N898 per litre from the private refinery.
Early Monday, the national oil company released estimated prices of petrol obtained from the Dangote Refinery in its retail stations across the country, stressing that in line with the provisions of the Petroleum Industry Act (PIA), petrol prices are not set by government, but negotiated directly between parties.
“The NNPC can confirm that it is paying Dangote Refinery in USD for September 2024 PMS offtake, as Naira transactions will only commence on October 1, 2024.
“The NNPC assures that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100 per cent to the general public,” it stated.
In the attached document, the NNPC stated that fuel from the Dangote refinery will sell for N950.22 per litre in Lagos; N960.22 in Oyo; N980.22 in Rivers; N992.22 in Abuja; N999.22 in in Kaduna; N999.22 in Kano; N999.22 in Sokoto and N1,019 in Borno, based on the September pricing template.
A breakdown indicated that the final price from the Dangote refinery was N898.78, according to the statement, while distribution within Lagos is N15 per litre, inspection fee is N0.97, NMDPRA fee is N8.99, with an expected margin of N26.48.
Before lifting petrol from the Dangote Refinery on Sunday, NNPC retail outlets in Lagos sold petrol for around N855 and N897 in Abuja.
But the Dangote Refinery denied selling petrol to the NNPC at N898. A spokesman for the refinery Anthony Chiejina in a statement on Sunday described the claim by the NNPC as “misleading and mischievous”.
“It should also be noted that we sold the products to NNPC in dollars with a lot of savings against what they are currently importing. With this action, there will be petrol in every local government area of the country regardless of their remote nature,” Chiejina said.
But the IPMAN executive explained that it was assumed that the product should be relatively cheaper because it is no longer being shipped in from abroad.
He argued that the fuel that NNPC is getting from Dangote cannot be costlier than the one imported, because it has the advantage of the removal of a huge part of supply logistics.
“The products we are about to get from Dangote refinery cannot be costlier than the one imported because we have an advantage of supply logistics,” he said.
“If the Dangote refinery’s petrol price is N950 per litre without government intervention, it means under-recovery gradually comes to an end and maybe, Nigerians would get it cheaper,” he added.
Meanwhile, the NNPC has adjusted some portions of the nationwide petrol price document it released earlier on Monday.
Although the estimated prices for selling petrol around the country remained the same, however, the NNPC altered the analysis of the transaction it had with Dangote Refinery.
THISDAY’s checks showed that the areas of differences between the first press statement and the second was that while for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the fee was N8.99, the second statement showed N4.495.
Also, while the first statement had an inspection fee of N0.97, a margin of N26.48 and a distribution fee of N15, the second statement did not indicate inspection fee and margin. Also, the distribution and logistics fee was changed to N42.45.
Besides, the second statement had an additional Midstream and Gas Infrastructure Fund (MDGIF) of N4.495. The MDGIF is a government fund set up to invest in infrastructure projects that will improve transportation and processing as well as utilisation in the sector.
Business
Chris Kolade Leadership Award Loading As KMEN Sets for MegaSummit 2026
Kingdom Men Global Network aka KMEN has formally announced the programmes of the 13th edition of its flagship annual gathering for men, Mega Summit.
This year’s event will open on Thursday May 14 and end on Sunday May 17 with an all-men musical concert.
The 2026 edition of Mega Summit which will hold at the Presken Hotels on Alade Avenue opposite Airport Hotel, Ikeja Lagos has as theme: Legacy…Faith. Family. Community. And for the first time Mega Summit will host an award on the opening day in memory of foremost Nigerian diplomat and integrity personified and pioneer Chairman of the Board of Trustee of KMEN, late Dr Christopher Kolade who died last year at the age of 92.
The KMEN-Christopher Kolade – Men in Leadership Award for Courageous Manhood will be heralded by the Men in Leadership Summit (MiLEADS) with the sub-theme – Building a Culture of Leadership with Integrity. And will have as speakers Archbishop John Osa-Oni of Vineyard Christian Ministries., Pastor Tunde Bakare of The Citadel Global Community Church, and renowned Pharmacist, entrepreneur and politician Mazi Sam Ohuabunwa, OFR.

Pastor Tunde Bakare
Day two will feature another special session for Men in Church Leadership (MiCLEADS) with the sub-theme: Leaving a Legacy of Faith/Discipling for the Next Generation, and will have as speakers Bishop Sunday Onadipe, Bishop, Methodist Church of Nigeria, Diocese of Badagry, Apostle Eyinnaya Okwuonu, former Chairman of Pentecostal Fellowship of Nigeria (PFN), Lagos Chapter., Pastor Dominion Roberts from Liberia, and Rev Fr Matthew Ogunyase of the Catholic Mission, Lagos.
While day three will open with a Special Town Hall discussion on Family with the sub-theme – The Father’s Role in Shaping Legacy and is the only mixed gender panel for Mega Summit 2026 featuring foremost life change coach, Mrs. Yemisi Lagunju and Rev David Abraham, who is the managing director of Managing Business for Christ (MBFC).
On Saturday is a Special Town Hall on Resisting an Emerging Legacy of Addictions. This segment will feature a presentation by Dr Dokun Adedeji on the ravage of Drug Addictions, alongside Abiose Akolade Ladipo, Co-Founder of GamblePause, a Lagos-based NGO in the fight against Gambling Addictions.
Later in the afternoon on Saturday is a second Town Hall session on Business and Economy with the sub-theme: Building Sustainable/Generational Businesses, and will feature notable panelists like Rev Professor Biodun Adedipe Founder of BA and Associates, and Rev Dr Abba Peter, Managing Director of Best Practices Limited, among others.Other Town Hall segments at Mega Summit 2026 include that on Politics/Governance with the sub-theme: Swimming Against the Tide – National Transformation through Service, and another Town Hall on Media featuring Mr. Mustapha Isah Osikhekha, former President of the Nigerian Guild of Editors (NGE), Omoba Deji Irawo and others as they navigate best way to Reclaim the Narrative: Legacy in Digital Spaces.
An extra-ordinary edition, the 13th edition of Mega Summit will also have segments designed to equip leaders in men’s ministry through the instrument of KMEN’s School of Men’s Ministry/ISI Training. Each day of Mega Summit 2026 is divided into three segments – morning starting at 9 am, afternoon session and evening climaxing with an impartation service.KMEN is an uncompromisingly Bible-based, independent ministry to men. Established nearly two decades ago, the ministry’s objective is to assist men, irrespective of their church affiliations, in their Christian Walk, that they may become better sons, brothers, husbands, fathers and leaders.
Business
Ikeja Electric Explains Epileptic Power Supply
The Ikeja Electric Plc has given reasons for the ongoing power outages experienced by cudtomers, attributing the situation to reduced electricity allocation from the national grid.
In a statement posted on its X handle at , the company apologized for the disruption, noting that some parts of its network were experiencing supply constraints due to reduced power allocation from the grid.
It added that, to manage the shortfall and maintain grid stability, it had introduced temporary load shedding across affected feeders.
The Ikeja Electricity company said as part of efforts to maintain grid stability and ensure equitable distribution of available power, temporary load shedding is being implemented across affected feeders and locations. The company said it was working with relevant stakeholders to improve supply and minimise the impact on customers.
The latest notice follows months of unstable electricity supply in Lagos and other parts of Nigeria, driven largely by a drop in generation linked to gas shortages.
Business
ALAT at 9: Wema Bank Celebrates Nine Years of Redefining Digital Banking in Nigeria
Wema Bank Plc is celebrating the 9th anniversary of ALAT by Wema, Africa’s first fully digital bank, marking nine years of transforming how Nigerians experience banking.
Launched in 2017, ALAT by Wema was introduced as a bold response to the limitations of traditional banking, long queues, physical barriers, and slow processes. By eliminating these constraints, Wema Bank redefined banking as a fully digital, instant, and accessible experience, enabling customers to open accounts, transact, and manage their finances seamlessly from anywhere.
Over the past nine years, ALAT has evolved beyond convenience into a comprehensive digital ecosystem designed to meet the changing needs of individuals, businesses, and a new generation of financially aware users. From enabling structured savings through features like ALAT Goals to simplifying payments and expanding access to financial services, the platform has consistently delivered solutions that empower users and drive financial inclusion at scale.
This journey of continuous innovation has positioned ALAT not just as a digital banking product, but as a platform that adapts, grows, and evolves alongside its users.
To commemorate this milestone, Wema Bank has launched the ALAT at 9 campaign, a series of customer-focused activities, rewards, and interactive experiences designed to celebrate users while deepening engagement.
As part of the anniversary celebration, customers can access their personalized ALAT Wrapped, offering a simple, visual summary of their journey on the platform, which can be downloaded and shared across social media.
Customers can also participate in the 9 Features in 9 Days experience by engaging with a designated feature each day. Completing all nine activities unlocks rewards, encouraging consistent and active use of the platform.
In addition, customers who complete their 9th transaction at exactly 9:00am or 9:00pm will receive instant rewards.
The celebration also features the ALAT Evolution Jingle Challenge, inviting customers to create and submit the second verse of the ALAT jingle for a chance to win rewards.
Speaking on the milestone celebration, Managing Director and Chief Executive Officer of Wema Bank, Moruf Oseni, said;
“ALAT at 9 is not just a celebration of time. It is a reflection of how far we have come and a clear indication of where we are going. Over the years, we have continued to evolve with our customers, building a platform that is not only functional but also engaging and rewarding. This campaign is designed to give back to our users while reinforcing our commitment to innovation and customer experience.”
Also commenting, Chief Digital Officer of Wema Bank, Olusegun Adeniyi, noted that the anniversary campaign was designed to merge everyday banking with meaningful engagement.
“With ALAT at 9, we are transforming routine banking into an interactive experience. By combining personalized insights, gamified missions, and real rewards, we are creating a platform that responds to users in a more dynamic and rewarding way. This reflects our vision to build a digital bank that is intuitive, adaptive, and centered around the customer,” he said.
The anniversary activities will run from May 2 to May 31stwith customers encouraged to log into the ALAT app to participate, complete tasks, and unlock rewards.
Existing customers can access the experience by updating the ALAT app via the Google Play Store or Apple App Store and signing in with their existing details. New customers can download the app and get started in minutes to enjoy the full range of features and anniversary benefits.
With ALAT at 9, Wema Bank continues to reinforce its leadership in digital banking, delivering not just financial services, but a platform that continue to evolve with its users and rewards them at every stage of their journey.
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