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BREAKING: Dangote refinery slashes petrol price to N865

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As exclusively predicted by The PUNCH, the Dangote refinery has informed marketers and its customers of a downward review of its ex-gantry loading cost to N865 per litre.

The new price is a reduction of N15 from N880 per litre sold by the facility on Wednesday.

Our correspondent gathered that the refinery informed its customers in a notice sent out on Thursday morning.

A Pro forma invoice was sighted by our correspondent and checks into petroleumprice.ng also confirmed the development.

Recall that marketers had exclusively informed our correspondent that the 650,000 barrels refinery was anticipated to lower its petrol loading costs by the end of this week, further contributing to the reduction in fuel prices.

The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, reassured the public of the price drop while commenting on the Federal Executive Council’s directive regarding the naira-for-crude agreement.

On Wednesday, the Federal Executive Council, after an initial delay, directed the full implementation of the suspended Naira-for-Crude agreement with local refiners.

It said the initiative with local refineries is not a temporary measure but a “key policy directive designed to support sustainable local refining.”

The Ministry of Finance disclosed this in a statement published on its official X handle titled, “Update on the Crude and Refined Product Sales in Naira Initiative.” The statement was released following a meeting on Tuesday between the Minister of Finance, Wale Edun, and representatives from Dangote Refinery, a major beneficiary of the agreement, to review progress and address ongoing implementation matters.

The committee said the policy is not temporary but a long-term plan to cut Nigeria’s dependence on foreign exchange for petroleum.

It added that the initiative is not a temporary or time-bound intervention but a key policy directive designed to support sustainable local refining and bolster energy security.

The statement read, “The Technical Sub-Committee on the Crude and Refined Product Sales in Naira initiative convened an update meeting on Tuesday to review progress and address ongoing implementation matters.

“The stakeholders reaffirmed the government’s continued commitment to the full implementation of this strategic initiative, as directed by the Federal Executive Council.

“Thus, the Crude and Refined Product Sales in Naira initiative is not a temporary or time-bound intervention, but a key policy directive designed to support sustainable local refining, bolster energy security, and reduce reliance on foreign exchange in the domestic petroleum market.”

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JUST IN: Court Adjourns El-Rufai’s Alleged Corruption Trial [DETAILS]

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The trial of former Kaduna State Governor, Nasir El-Rufai, was on Monday stalled after two co-defendants failed to appear before a Federal High Court in Kaduna.

El-Rufai, who is standing trial on charges of alleged abuse of office, fraud, and financial misconduct filed by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), was present in court for the proceedings.

The former governor arrived at the court alongside officials of the ICPC, operatives of the Department of State Services (DSS), and police personnel.

However, the court could not proceed with the case due to the absence of the two co-defendants, leading to an adjournment.

The matter was subsequently adjourned to June 28, 2026, for continuation of the hearing.

El-Rufai has consistently denied all allegations against him, while prosecutors allege that public funds were improperly released for projects that were either not executed or were irregularly handled during his tenure as governor.

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BREAKING: Court Orders INEC to Deregister ADC, Four Other Political Parties

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The Federal High Court in Abuja has ordered the Independent National Electoral Commission (INEC) to deregister the African Democratic Congress (ADC), Accord Party (AP), and three other political parties.

Justice Peter Lifu, who delivered the judgment, also directed that the order apply to the Action Peoples Party (APP), Action Alliance (AA), and Zenith Labour Party (ZLP).

The ruling stemmed from a suit marked FHC/ABJ/CS/2637/2026, filed by the National Forum of Former Legislators.

In the suit, the plaintiffs asked the court to determine whether INEC has a constitutional obligation to deregister political parties that fail to meet the performance thresholds set out in Section 225A of the 1999 Constitution (as amended), the Electoral Act 2022, and INEC regulations.

According to the former legislators, the five political parties had consistently failed to meet the required constitutional benchmarks. These include winning at least 25 percent of votes in a state during a presidential election or securing at least one elective seat at the national, state, or local government level.

They further told the court that the ADC and the four other parties performed poorly in the 2023 general elections and subsequent by-elections, failing to secure seats across key tiers of government. The plaintiffs argued that the continued recognition of the parties is unlawful and undermines the integrity of Nigeria’s electoral system.

On that basis, they urged the court to declare that INEC is duty-bound to deregister such parties and compel the commission to do so before preparations for the 2027 elections progress further. They also sought, and obtained, an order restraining the affected parties from participating in elections or engaging in political activities such as campaigns, rallies, and primaries.

Additionally, the suit sought an injunction barring INEC from recognizing or dealing with the parties in any official capacity.

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APC-led Government Announces June 16 Public Holiday: Reason Emerges

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The Borno State Government has declared Tuesday a public holiday to commorate the first day of the Islamic Calender Year, 1448 after Hijira.

The year 1448 AH (Anno Hegirae) is the current year in the Islamic calendar.

Since the Hijri calendar is based on lunar cycles, it is approximately 11 to 12 days shorter than the Gregorian calendar.

As a result, the year 1448 AH overlaps parts of both the 2026 and 2027 Gregorian calendar years.

In a statement released on Sunday, the state Commissioner for Information and Internal Security, Usman Tar urged residents to use the period to rededicate themselves to peaceful co-existance and service to humanity and development.

The statement reads “This is to inform the general public that His Excellency, the Executive Governor of Borno State, Prof. Babagana Umara Zulum, CON, mni, FNSE, has declared Tuesday 1st Day of Muharram 1448 After Hijira (AH), which is equivalent to Tuesday 16th June 2026 as a Public Holiday to commerate the first day of the Islamic Calender Year 1448 (AH).

“All citizens are therefore enjoined to be faithful and reflect on this important date and rededicate themselves to peaceful co-existance and service to humanity and development of our dear state in particular” he stated.

Tar also enjoined citizens to embrace the virtues of unity, solidarity, togetherness, tolerance, justice, mercy and multiculturalism that are essential to ensuring unity in diversity and unity of mankind.

“The Government and good people of Borno are committed to the unity, prosperity and existence of Nigeria, and to projecting Nigeria’s good image among the comity of nations in a globalised universe” he noted.

The commissioner said Governor Zulum enjoined the people of the state to pray for a peaceful, plural democratic entity, calling on all communities and faith groups to live in harmony and togetherness.

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