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JUST IN: Petrol Sells At N1065 In Abuja And N998 In Lagos After NNPC-Dangote Deal Collapse—-NNPC Limited retail stations and independent outlets started selling petrol as high as N1,065 per litre in Abuja, and N998 in Lagos among other new prices across Nigerian states, on Wednesday.

This price hike came after NNPCL ended its exclusive purchase deal with the Dangote Refinery, according to a Premium Times report.

The decision to set these new prices was reached through a joint review between NNPCL and independent fuel marketers.

Prior to this, Premium Times had revealed that NNPCL quit its exclusive supply deal with Dangote, paving the way for marketers to negotiate prices directly with the refinery.

The quoted prices are between N1,030 and N1,065 per litre in Abuja, N998 at NNPCL stations in Lagos, N1,025 in other southwest states, between N1,060 and N1,070 in northeastern states, and between N1,055 and N1,075 south-south states.

Since the Dangote Refinery began operations in May, its relationship with NNPCL has been rocky. According to Aliko Dangote, CEO of Dangote Group, NNPCL lost it’s 20% stake in the refinery after failing to meet financial obligations.

NNPCL later claimed it intentionally reduced its stake based on internal assessments.

There has also been some back-and-forth over petrol pricing. Dangote Group initially stated that NNPCL had full authority to set prices, but it retracted that statement.

The regulator quickly clarified that, in a deregulated market, prices are dictated by market forces, not NNPCL.

In July, the Federal Executive Council (FEC) stepped in, directing both parties to resolve their differences.

By September, NNPCL estimated that petrol prices would be N950.22 in Lagos and N992.22 in Abuja based on its negotiations with the refinery.

The estimated prices are based on negotiated terms between NNPC Ltd. and Dangote Refinery, which recognise current international gasoline prices and the prevailing foreign exchange rate in line with the provisions of the Petroleum Industry Act (PIA) 2021,” NNPCL said at the time.

“NNPC Ltd. can confirm that it is paying Dangote Refinery in US [dollars] for September 2024 PMS offtake, as naira transactions will only commence on October 1st, 2024. We reassure Nigerians that any discount from the Dangote Refinery will be passed on 100% to the general public.”

NNPCL began lifting petrol from Dangote Refinery on September 15, and the breakdown of their exclusive agreement has now influenced the latest price review.

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JUST IN: Pan Niger Delta Forum leader, Edwin Clark Is Dead

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Edwin Clark Is Dead

JUST IN: Pan Niger Delta Forum leader, Edwin Clark Is Dead

Thecloudngr gathered that the elder statesman died at the age of 97.

The former Federal Commissioner for Information and South-South leader’s death was confirmed in a statement by a representative of the family, Prof. C. C. Clark, on Tuesday.

In a statement, the Clark-Fuludu Bekederemo family of Kiagbodo Town, Delta state, said the ex-senator died on Monday, February 17.

He was 97 years of age.

Until his passing, Clark was the leader of the Pan Niger Delta Forum (PANDEF).

His political career began in 1953 when he was elected councillor of Bomadi in Delta state. Clark would later join the National Council of Nigeria and the Cameroons (NCNC) political party.

He served as Midwestern commissioner of education and later finance between 1966 and 1975.

He pitched tent with the National Party of Nigeria (NPN) in the second republic and was treasurer of the party in the old Bendel state.

The outspoken Ijaw leader and critic was senator for three months in 1983 during the Shehu Shagari administration.

Clark spent the rest of his life advocating for development of the Niger Delta region.

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BREAKING: Mudashiru Obasa Sues New Speaker Meranda And Lagos Assembly To Court

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Mudashiru Obasa Sues New Speaker Meranda

BREAKING: Mudashiru Obasa Sues New Speaker Meranda And Lagos Assembly To Court—-Impeached speaker of the Lagos State House of Assembly, Mudashiru Obasa, has filed a lawsuit at the Lagos State High Court, Ikeja, seeking an immediate order for his reinstatement as Speaker.

Court documents obtained by Lagos Reporters reveal that Obasa is challenging his removal on January 13, 2025, arguing that it was wrongful and unconstitutional. The lawsuit, filed on February 14, 2025, lists the current Speaker, Lasbat Mojisola Meranda, and the Lagos State House of Assembly as defendants.

The legal move comes after failed attempts to resolve the leadership dispute through political negotiations. Sources confirm that multiple high-level meetings, involving political figures from Lagos and Abuja, were held to mediate the crisis but ended in deadlock.

Some lawmakers reportedly fear that Obasa’s possible reinstatement could trigger political reprisals against those who backed his ouster.

With the case now in court, the battle for Lagos Assembly leadership shifts to the judiciary, as stakeholders await the ruling and its implications for the state’s legislative stability.

 

Developing Story…..

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