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Subsidy: FG May Spend N236bn Monthly On Imported, Dangote Petrol
The Federal Government could spend up to N236billion monthly, in order to subsidise the Premium Motor Spirit (PMS), popularly called petrol, that is imported through the Nigerian National Petroleum Company (NNPC) and the one that NNPC takes from the Dangote Petroleum Refinery.
On Monday, the President of Dangote Group, Alhaji Aliko Dangote, urged the Federal Government to end fuel subsidies completely.
He said the removal would help determine the actual petrol consumption in the country, as his position received backing from the Independent Petroleum Marketers Association of Nigeria and the Centre for Promotion of Public Enterprise on Tuesday.
This came as it was gathered that members of the Major Energies Marketers Association of Nigeria had lifted over 50 million litres of PMS from the Dangote refinery in the past week.
Based on the revelations by major oil marketers on the cost of Dangote petrol sold to them by NNPC, the price at which NNPC got the product from Dangote, it was established that the product was being subsidised by the government through the national oil firm.
Major oil marketers stated that the product was sold to them by NNPC at N766/litre, whereas NNPC had earlier said that it got the commodity at N898/litre from the Dangote refinery.
This implies that the company subsidised the commodity by N132/litre to the marketers.
Dangote commenced the release of PMS into the domestic market on September 15, 2024, and stated that it would be pumping out 25 million litres of petrol to the Nigerian market daily.
This means that the NNPC is shouldering a subsidy of about N3.3bn daily, while in 30 days it may spend N99bn to subsidise Dangote petrol to marketers.
For imported petrol, though there are various figures on the actual volume of PMS consumed in Nigeria, the most recent figure released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority put the figure at about 45.7 million litres daily.
This means that should the Dangote refinery provide 25 million litres daily, the volume of imported petrol required to meet the domestic demand would be about 20.7 million litres.
In July this year, the Major Energies Marketers Association of Nigeria revealed that the landing cost of imported PMS was N1,117/litre. The landing cost is simply the price at which the commodity lands on Nigeria’s shores.
Dealers in the sector stated on Tuesday that the landing cost of the commodity was still around the figure reported in July.
Independent marketers revealed that NNPC now sells petrol to IPMAN members at N895/litre.
News
How Rivers Women Spread Wrappers For Wike’s Motorcade During Port Harcourt Visit
The Minister of the Federal Capital Territory, FCT, Nyesom Wike, on Saturday visited Port Harcourt City Local Government as part of his “thank you” visit across Rivers State.
Upon his arrival, a group of women displayed a symbolic gesture of loyalty by spreading their wrappers on the ground for his motorcade.
The women and supporters of the Minister were in a jubilant mode as Wike drove on the wrappers.
Wike has been going around local governments in the state to appreciate them for their support while reeling out moves ahead of the 2027 general elections.
In the course of his visits, the Minister had fired several salvos at political actors in the state, warning that their sudden support for President Bola Tinubu won’t secure them any ticket in 2027.
Wike also renewed rivalry with Governor Sim Fubara over the leadership control of the political space in the state.
News
Impeachment Proceedings Against Fubara, Deputy Still Active – Rivers Assembly
The Rivers State House of Assembly has officially reaffirmed that the impeachment proceedings against Governor Siminalayi Fubara and his deputy, Prof. Ngozi Odu, are ongoing and have not been suspended.
The Assembly said the process is still ongoing and is being conducted strictly in line with constitutional provisions.
This was contained in a statement issued on Friday by the Chairman of the House Committee on Information, Petitions and Complaints, Hon. Enemi George.
According to the statement, the impeachment process, which began on Thursday, January 8, 2026, remains on course in line with the 1999 Constitution of the Federal Republic of Nigeria (as amended).
The lawmakers disclosed that separate notices of allegations bordering on gross misconduct have been served on both the governor and his deputy in line with Section 188 of the Constitution.
“The notices of allegations of gross misconduct against the Governor and the Deputy Governor have been duly forwarded to them by the Speaker of the House, Rt. Hon. Martins Amaewhule, and the House is awaiting their responses,” the statement said.
The Assembly maintained that it is constitutionally obligated to act in the interest of the rule of law and ensure that no public office holder acts outside legal boundaries.
Reacting to reports suggesting that the impeachment move had been halted, the House accused some individuals and media outlets of deliberately spreading misinformation to mislead the public and stir tension between the legislature and Rivers residents.
The lawmakers described such reports as false and insisted they would not succumb to intimidation, threats, or blackmail.
“We are aware of renewed attempts by certain persons and media platforms to misinform the public by claiming that the impeachment process has been discontinued. The public should disregard such falsehoods, as the process remains active,” the statement added.
The Assembly reaffirmed its commitment to democratic principles and constitutional responsibilities, stressing that it would not be distracted by what it termed “cheap propaganda.”
It also appreciated the people of Rivers State for their support and prayers amid the ongoing political developments and extended goodwill to Nigerians committed to the nation’s democratic journey.
JomogNews reports that during Thursday’s plenary session, presided over by the Speaker, the Majority Leader, Major Jack, formally read the notice of allegations of gross misconduct against Governor Fubara on the floor of the House.
News
Your Second Coming Was A Chance To Avoid These Political Mistakes – Fayose To Fubara
Former Governor of Ekiti State, Ayodele Fayose, says the second coming to office of the Rivers State Governor, Siminalayi Fubara, after the elapsing of the state of emergency should have made him better.
Fayose’s remarks come as the Rivers State House of Assembly has initiated impeachment proceedings against Fubara as of January 8, 2026.
Speaking in an interview on ‘Politics Today’, a programme on Channels Television on Friday, Fayose said he was removed as governor and went to exile but became a better person upon his return.
Fayose said that President Bola Tinubu hates ingratitude just like any other person else does.
The former Ekiti governor also dismissed the claim that what is happening in Rivers state is politics taken too far.
According to him, the constitution provides rules of engagement for every politician, stressing that it is when one gets out of the rule that he begins to look for public sympathy.
“The coming back of Governor Fubara should have made him a better person .If you made a mistake the first time, the second time you are not supposed to go through that route.
“Politics is a power game. Nobody solves political game for you. With due respect, let me tell you. Fubara is the one enjoying the office of the governor of Rivers state. It’s not the FCT Minister, Nyesom Wike.
“Some people are saying it’s about Tinubu’s election. No! Because Tinubu’s election will come first, don’t forget that. Both Wike and Fubara will all work for Tinubu. Two weeks after, there will be an election for Rivers state,” he said.
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