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Beware of Dangote’s Fuel Plan, May Push Price To N2,500/Litre – Oil Marketers Warn

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Dangote Refinery Slashes Ex-Depot Price By N40

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised concerns over Dangote Refinery’s plan to distribute fuel directly across Nigeria, calling it a potential “Greek gift,” warning it could lead to market monopoly, job losses, and eventual price hikes

PETROAN President Billy-Gillis Harry urged government intervention to prevent domination of the downstream sector and to protect smaller businesses.

The association’s national president, Billy-Gillis Harry, warned that the move could mirror Dangote Group’s past dominance in sectors like cement, flour, and sugar, where initial benefits eventually gave way to price hikes and limited competition.

“I think Nigerians need to be careful about accepting a ‘Greek gift’. We need to be much more insightful, as we have experienced it in different spheres of the economy, whether it is flour, sugar, or cement.”

Gillis-Harry pointed out that although cement was once sold directly at various locations, prices never truly dropped.

He fears the same pattern may emerge in the fuel market, where small players might be pushed out, only for prices to later soar.

He added: “So there is no anticipation that when everybody is drummed out of the business by these kinds of gifts, we wouldn’t get back to the same position where we would start looking to buy petroleum products for N2,500 per litre. It has happened in other areas. We are courageous enough to stand by our point.”

In an earlier interview with Legit, Billy-Gillis Harry expressed concern over Dangote Refinery’s proposed forward integration approach, where the company would not only produce but also distribute fuel.

He cautioned that this strategy could lead to monopolistic control within the downstream oil sector.

According to him, such dominance could seriously harm smaller businesses and result in widespread job losses across the petroleum value chain.

He urged the government to step in with proper regulations to prevent any single player from taking over the market and to ensure fair competition for all stakeholders.

Meanwhile Dangote Refinery has explained that its new fuel distribution plan is aimed at enabling smooth and efficient delivery of petroleum products nationwide

It also emphasised that vital industries such as manufacturing and telecommunications stand to gain significantly, as lower fuel prices could help reduce production expenses, ease inflation, and support economic growth.

The refinery noted that businesses in these and other sectors can now buy fuel directly from its facility.

The 650,000-barrel-per-day refinery came on stream in January 2024, first rolling out diesel and aviation fuel A1.

PMS rollout followed nine months later, in September 2024. As of February this year, the refinery disclosed that it had reached 85 per cent of its installed capacity, expressing confidence in the speedy attainment of full capacity.

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BREAKING: Top Presidential Candidate Withdraws From 2027 Race; Reasons Emerge

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The factional National Chairman of the Accord Party (A), Christopher Imumolen, has withdrawn from the 2027 presidential race and declared support for President Bola Tinubu’s re-election bid, according to Naija News.

Naija News reports that Imumolen announced the decision in a statement issued on Wednesday, saying it followed consultations with leaders and stakeholders within his faction of the party.

He explained that the need to preserve national unity, political stability and continued development informed his decision to abandon his presidential ambition.

According to him, personal aspirations must give way when the broader interest of the country requires cooperation among political leaders.

“The unity, stability and continued progress of Nigeria must take precedence over personal political ambition,” Imumolen said.

The former presidential aspirant listed 10 reasons for backing Tinubu, including what he described as their shared views on economic reforms, education, industrialisation, youth empowerment and national development.

He also praised the President’s leadership ability, political experience and commitment to progressive governance.

Imumolen said Tinubu had demonstrated an ability to identify and empower talented individuals while promoting inclusive leadership.

He expressed confidence that the administration’s economic and fiscal reforms would place Nigeria on the path of sustainable growth, despite the hardship currently facing many citizens.

The Accord chieftain argued that continuity in governance and consistency in policy implementation were important for strengthening public institutions and attracting investment.

He added that sustaining the government’s reform programme could support job creation and accelerate national development.

Imumolen maintained that his involvement in politics had always been driven by a desire to serve the country rather than merely occupy public office.

He stated, “My aspiration has always been to serve Nigeria and not merely to occupy public office.

“Whenever the national interest is better served through unity and strategic collaboration, I will always choose Nigeria above personal political ambition.”

He described his withdrawal and endorsement of Tinubu as a deliberate sacrifice made in what he considered the country’s best interest.

“Our decision to withdraw our presidential candidature and support President Bola Ahmed Tinubu is a deliberate sacrifice made in the interest of Nigeria,” he added.

Imumolen called on members of the Accord Party, his political supporters, professionals and other Nigerians to support Tinubu’s re-election campaign ahead of the 2027 general election.

He said collaboration with the President would offer a better opportunity to advance the policies and development objectives he had hoped to pursue through his presidential campaign.

 

Source: Naija News

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Government Declares Friday 7, August Public Holiday, Reason Emerges

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Rwanda has declared Friday, August 7, 2026, a public holiday to mark Umuganura Day, a national harvest festival with roots stretching back to pre-colonial times.

Legit.ng reports that the announcement came from the Ministry of Public Service and Labour on Tuesday, August 4, 2026, and applies to workers across all sectors, both public and private.

The ministry said in its official statement:

“The Ministry of Public Service and Labour informs all employers and employees in both public and private sectors that Friday, August 7, 2026, will be a public holiday in celebration of Umuganura Day.”

What is Umuganura Day?

Umuganura is one of Rwanda’s most significant cultural observances. The festival gives thanks to God and ancestors for the bounty of the land and marks the collective effort of communities in cultivating it. Despite being called a harvest festival, it is observed before the harvest begins, a tradition rooted in the practice of elders tasting the fruits of the new season before any family member is permitted to do so.

The celebration starts within individual families and then expands into wider community gatherings where traditional foods, crafts, and performances are shared. Rwandan restaurants and cultural centres, both at home and abroad, typically mark the occasion with special offerings tied to the country’s culinary heritage.

Agriculture sits at the heart of why the day carries such weight. About 80% of Rwanda’s labour force is engaged in farming activities, which contribute roughly 40% of the country’s Gross Domestic Product. Tea and coffee are the country’s most important cash crops, making up around 80% of its agricultural exports.

History of Umuganura festival

Umuganura has survived considerable upheaval. Germany colonised Rwanda in 1899 as part of German East Africa, and Belgium took control in 1916 during World War I. The prolonged period of colonial rule disrupted the festival, and it went uncelebrated for many years. Rwanda gained independence in July 1962, and the country gradually rebuilt its national identity in the decades that followed.

Despite its ancient origins, Umuganura was only formally recognised as a public holiday in 2011. Beyond its cultural significance, the day also serves as an occasion to reflect on the country’s yearly achievements across the sectors that drive national development.

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BREAKING: President Tinubu Approves New Salary Package for Armed Forces Personnel

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President Bola Tinubu has approved a new salary package for armed forces personnel.

In a statement on Tuesday, Bayo Onanuga, special adviser to the president on information and strategy, said the salary increase is between 30 and 80 per cent for the military personnel.

He added that about 250,000 personnel will benefit from the new deal, which will become effective from September 1.

 

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President Tinubu approves salary increases for armed forces personnel

President Bola Tinubu has approved salary increases of between 30 and 80 per cent for Nigeria’s armed forces personnel.

About 250,000 personnel are to benefit from the new deal.

Under the new arrangement, which becomes effective from September 1, officers above the rank of colonel will enjoy a 30 per cent salary increase. This applies to Brigadier-Generals, Major-Generals, Lieutenant Generals and Generals.

Personnel from colonel down to warrant officer will have a 50 per cent increase, while Private to Staff Sergeant will have an 80 per cent increase.

The pay package will increase the yearly salary bill for the country’s armed forces personnel from N660 billion to N924 billion.

President Tinubu has always praised the courage and sacrifices of members of the armed forces as they confront the scourge of banditry, kidnapping and terrorism in some parts of the country.

“The men and women who help to keep us safe in our homes must be supported and appreciated in the course of their duties to our nation.

“Our administration will continue to prioritise troop welfare and modernise the armed forces by providing the weapons and technological tools needed to discharge their duties.

“Our administration believes that no nation can achieve greatness without security. We therefore remain resolute in mobilising all military and law enforcement assets to eliminate security threats and protect the lives and property of all Nigerians

“ I urge our servicemen to take our gesture as a sign of our deep appreciation of the services they render to our fatherland. Together we shall prevail over the enemies intent on destroying the fabric of our nation”.

 

Bayo Onanuga

Special Adviser to the President

(Information and Strategy)

August 4, 2026

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