The Nigerian National Petroleum Company Limited has reduced the pump prices of Premium Motor Spirit (petrol) sold at its stations to match that of the Dangote Petroleum Refinery.

Our correspondents confirmed that some retail outlets owned by the NNPC adjusted their petrol pump price to N860 per litre on Monday, the same rate Dangote sells petrol at MRS filling stations in Lagos.

Although there is no official communication from the NNPC Retail yet, the company’s stations in Lagos adjusted their pumps to N860 per litre, down from N945 as of Sunday. This comes a few days after the Dangote refinery reduced its ex-depot petrol price from N890 to N825 per litre.

NNPC spokesperson Olufemi Soneye did not answer calls or reply to messages sent to his phone.

However, the National Vice President of the Independent Petroleum Marketers Association of Nigeria, Hammed Fashola, confirmed the development to our correspondent.

“It is true, NNPC is selling petrol at N860 in the filling stations. Though this has not been reflected on the portal, they told me they are working on updating the portal. I spoke with them,” the IPMAN leader said.

Also, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria, Billy Gillis-Harry, said, “They reduced the pump price earlier this (Monday) morning, but I’m yet to get the details.”

Recall that the Dangote refinery announced another price cut last Wednesday, setting another price regime for the petrol market in Nigeria.

Since December 2024, the Dangote refinery has been ahead of other key players in the downstream sector, changing prices whenever it feels there is a need for that.

t has been observed that the NNPC reacts to market pressure by lowering its price anytime Dangote calls the shots.

Lately, it was observed that the queues usually seen at NNPC stations have vanished to other private filling stations like MRS. This was due to the price differential and the claim that the Dangote petrol lasts longer in fuel tanks than others.

Before the Dangote refinery came on stream, the NNPC was the used to dictate the price of PMS under a regulated petroleum sector

However, a report by Energy Intelligence said the 650,000 barrel per day Dangote refinery has been transformational both for Nigeria’s downstream sector and for the Atlantic Basin oil products market.

It was said that the refinery “has broken state-owned NNPC’s tight monopoly on refining and products marketing in Nigeria and has structurally shifted Atlantic Basin gasoline balances, pressuring European margins.”

At the moment, the Dangote refinery and the NNPC’s Port Harcourt refinery are the only petrol producers in Nigeria. However, the NNPC recently said it still buys petrol from the Dangote refinery for its Lagos stations. The NNPC said it has not imported any fuel this year, but it will import when there is a need to do so.

Speaking with our correspondent, the IPMAN Vice President described the price war between Dangote and NNPC as a good development. However, he warned that this should not be a tactic to eliminate competitors.

He prayed that the players sustain the healthy rivalry and lessen the hardship in Nigeria.

“It’s a good development. I just hope that they can sustain it. I pray it will not be a way of eliminating competitors. So, I pray that we sustain it. If we can sustain it, it’s good for everybody. It will be good for the public and everyone will be happy to have PMS at a reduced rate, because the hardship is too much,” Fashola stated.

After reducing its ex-depot price to N825, the Dangote refinery on Monday asked those who bought PMS above the new rate for a refund of N65 per litre.

Responding to this, Fashola said it has to do with some of the complaints that some marketers were affected by the sudden price reductions.

“That will address the complaints of soke marketers to some extent. I know it may not capture some people. You know some people might have bought the product, maybe about four or five days ago. I don’t think those transactions will be captured, even though they still have it in their tanks.

“But it’s better than nothing. Those that have paid but not lifted, I think they will be captured, and they will be protected. So, they are going to reimburse them at the new rate. It is a good development,” he stated.

In Abuja, it was observed that the NNPC reduced the retail price of petrol at its outlets to N880 per litre. NNPC dropped the price of the product from N965 per litre sold last week to customers in Abuja.

It was gathered that the petrol price dropped by N85 per litre at the NNPC retail outlet in Federal Housing, Kubwa. A pump attendant at the Kubwa station told our correspondent that the petrol price reduction was effected on Monday afternoon.

However, independent marketers are finding it difficult to effect a price change.

A visit by our correspondent across various stations located along the airport road, Jabi and Wuse showed that most stations maintained their former price, while a few effected a little reduction or didn’t sell products at all.

A.A Rano, located along the airport road, sold its products at N945 per litre from N970 per litre sold last week. Shema opposite Dunamis church sold at N960 per litre. Bovas along the same route remained at N970 per litre.

At Jabi, the Mobil filling station reduced its price to N960 per litre, and Conoil sold at N950 per litre.

The Chief of Defence Staff, General Christopher Musa, yesterday, said that Simon Ekpa’s arrest in Finland has significantly reduced tension in the South East.

The defence chief stated this when he appeared before the House of Representatives Committee on Defence for the 2025 budget defence session.

According to him, Ekpa’s arrest and the Defence Headquarters’ setting up Operation Udoka restored the region’s peace.

Musa said, “The arrest of Simon Ekpa has dramatically reduced the tension. In addition, with Operation Udoka, we’re doing that, picking up most of the leadership there, taking them out, and ensuring that the place is peaceful.

“The sit-at-home on Mondays is gradually diminishing. We’re also working with the political leaders there because we understand, as I always said, that we need local support because, without it, it’s complicated. The terrain is very challenging, so we need to work together. It is improving.

“Like we always appeal for Nigerians to understand that they have to take ownership of their armed forces, they have to take ownership of the security challenges we face. It’s not a challenge for the armed forces alone or security agencies; it’s everybody’s responsibility to do.

“And we’re happy that we’re beginning to get that support from everywhere. Human intelligence information is coming, it’s flowing quite well, and we are taking adequate action, and that’s why we see things are improving.

“What we have done is that we have established and enhanced the kinetic efforts for the three services for our operations. We have the Delta Safe in the South-South for oil theft and militia. At least for the first time now, we have reached our OPEC oil quota for Nigeria and intend to do more.

“Our target is to hit 2.2 million barrels a day for Nigeria. It’s not something that we can also do alone. We also need the other stakeholders in the oil industry to play their roles. We are doing more and providing more security. We are close to 2 million barrels per day. We intend to do more. This year, we want to intensify our operations so that we take out.

“We have formed groups that are discussing with the locals. And we have found that that discussion has helped a lot. So, we have religious and cultural leaders, and every stakeholder is also part of them. We realise that if we carry everybody along, it makes it a lot easier. As we said, the best general does not need to shoot. If you can solve the problem without firing it, it is better.

“So that by the time we do that, those who are willing to move, we move them out, and those who are unwilling, then we go after them. However, the kinetic and the non-kinetic must continue to go hand in hand. And it is working very well,” he said.

While calling for the improvement of border management to address the problem of smuggling, the four-star general said: “We have rescued several children being trafficked across Nigeria to other countries. And then trafficking of drugs, small arms, light weapons.

“We’re working in tandem with the Customs. When we make such arrests, we call either the NDLEA or the Customs and hand them over to them. So these are extra things that we’re doing.

“Now, what is our other concern? Troops’ welfare. We know generally the economy, everybody is having the heat. And we’re no more different. So we’re looking at improving the welfare of our troops, the RCA, Ration Cash Allowance. We’re still struggling at less than N2,000 per soldier per head to feed.

“We’re happy that Mr. President has recently increased the salaries to some extent of the junior class, which is the junior grade of personnel, which has also enhanced their ability. We know the country is going through so much, and it’s not only the military that needs support, but I think we want to get more and can do more.

“We also need accommodation. Every year, we recruit almost 25,000 for all the services. And those going on retirement every year are not up to 5,000. So you see, we’re getting nearly 20,000 into the system. The issue of new barracks, construction, old barracks, and renovation are issues we have to address because now that we’re beginning to get peace.

“Gradually, we’re going to return to the barracks. We don’t want to return to barracks, and then we’ll start living in tents or batches like before. So we must be able to work ahead to establish new barracks and then carry out renovation.”

The committee’s chairman, Hon Babajimi Benson, assured lawmakers that their duty as people’s representatives was to ensure that every Naira was judiciously spent to strengthen the Air Force’s operational capacity and deliver tangible results.

“We must leverage intelligence, technology, and best practices to neutralise emerging threats and safeguard our citizens. As we deliberate on the 2025 budget, I urge all defence agencies to prioritise strategic initiatives that align with national security objectives,” he said.

The committee also resolved to increase the budgetary provision of the Ministry of Defence to sustain the success being recorded in the fight against insecurity in the country.

This followed the adoption of a motion by Hon. Philip Agbese, who commended the military for their efforts when the Minister of State for Defence, Bello Matawalle, appeared to defend the Ministry’s budget for 2025.

Matawale said the sum of N50 billion allocated for the Ministry in the 2025 budget was grossly inadequate and appealed for an upward review.

He said, “We have some challenges. One is an inadequate budgetary provision. The headquarters and civilian personnel unit are unable to meet their obligations, resulting in the accumulation of debt on services and staff entitlement.

“We have non-payment and accumulated bills for group life insurance, which is very important. Our critical issues are non-payment and accumulated bills of group life insurance for military personnel. I requested the committee to consider maybe the sum of N20 billion as additional funds to pay families of deceased military personnel. That is one of our challenges.

“Mr Chairman, if you look at the budget of 2024, most of the barracks, the allocation we met is zero. How do we expect the military personnel to perform while their living standard is inadequate? For all the provisions we made, the allocation in 2024 is zero. And these are the people that we expect them to perform magic.”