Business
NLC Accuses Dangote And Marketers Of Inflating Fuel Prices

The Nigeria Labour Congress (NLC) has raised serious concerns, accusing Dangote Group and oil marketers of manipulating Premium Motor Spirit (petrol) prices to profit at the expense of Nigerians.
This was disclosed in a statement released on Sunday following the NLC’s National Executive Council (NEC) meeting on Friday.
In the statement, the NLC mentioned the current retail prices of petrol—ranging from N1,060 to N1,200 per litre—which they argue are far above the actual market value.
According to the union, this price disparity is a strong indication of inflated costs and excessive profit margins within Nigeria’s oil and gas sector, with these practices unfairly burdening consumers.
The NLC expresses concerns that key players in the industry might be colluding to control petrol prices, making it harder for Nigerians to afford basic fuel needs.
They noted that despite the supposed liberalization of the market, prices remain significantly high.
This led the NLC to call on the Nigerian government to urgently bring the Port Harcourt refinery and other state-owned refineries into operation to introduce more competition and relieve the grip that private players currently hold on fuel pricing.
During the NEC meeting, union leaders voiced their dissatisfaction, accusing “big players” in the industry of maintaining high prices through cost padding and inflated profit margins.
This alleged profiteering, according to the NLC, is adding to the economic strain on Nigerians, with workers and ordinary citizens bearing the brunt of the artificially high fuel prices.
The NLC also pointed out that this might be the reason why public refineries, including those in Port Harcourt, Warri, and Kaduna, are yet to return to full operation, despite their potential to ease fuel prices in the domestic market.
In recent days, a disagreement between Dangote Refinery and petroleum marketers has come into the spotlight, reflecting deeper issues in the sector.
Dangote Group announced that their petrol is available at ex-depot prices between N960 and N990 per litre, yet other marketers claim that imported fuel is still cheaper than what Dangote supplies.
Marketers have insisted that their imported petrol remains more affordable, countering Dangote’s claims.
In turn, Dangote Refinery has suggested that some marketers may be importing lower-quality, cheaper petrol, which the marketers have denied.
Adding to the discussion, recent figures from the Major Energies Marketers Association indicate that the landing cost for imported petrol currently stands at N971 per litre.
The NLC is pushing for a fairer pricing structure, stating that this will only be achieved by breaking the market’s current monopolistic structure.
They emphasized that reopening government-owned refineries is key to balancing market forces and potentially driving down fuel prices.
Business
IPMAN to Reduce Fuel Prices After Dangote Refinery’s Petrol Price Drop

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says it will announce a new, lower petrol price on Monday, following the recent price slash by Dangote Refinery. Dangote Refinery had dropped its ex-depot price for petrol from N840 to N820 per litre on Thursday, prompting IPMAN to consider adjusting its rates in response.
Speaking on the development, IPMAN President, Abubakar Maigandi, said the association is aligning with the move and will meet to finalize a fresh price cut for petrol. “Our members will also reduce their prices,” Maigandi said. “We’ll make an official announcement on the new fuel price after our meeting on Monday.”
As of Friday, filling stations across Abuja were selling petrol at varying prices, between N905 and N945 per litre. While NNPC, NIPCO, AA Rano, and Shema outlets were dispensing around N910, Dangote-linked stations like AP and Ardova offered it slightly lower at N905. Others, including Ranoil, Empire Energy, and Total Emadeb, were selling at the higher end, up to N945.
Business
Cooking Gas Price Increases by 2.18% as Nigerians Pay More to Refill

The cost of refilling a 12.5kg cylinder of cooking gas in Nigeria went up slightly in May 2025, rising by 2.18% compared to the previous month. The average price now stands at N20,709.11, up from N20,268.06 recorded in April. This update was captured in the latest Liquefied Petroleum Gas (LPG) Price Watch report for May, released by the National Bureau of Statistics (NBS).
According to the report, Delta State topped the list with the highest refill price at N23,356.56, followed by Abia at N22,953.01, and Ebonyi at N22,943.30. On the other hand, residents in Yobe, Lagos, and Kebbi states paid the least, with refill prices of N18,500, N18,536, and N18,606.60, respectively.
When compared to the same period last year, gas prices have jumped significantly, rising by 32% from N15,627.40 recorded in May 2024 to the current average. The NBS is yet to release figures for June 2025.
Business
GTCO Announces Nationwide Early Closure on June 30 for Half-Year Audit

Customers of Guaranty Trust Holding Company (GTCO) across Nigeria should brace for early branch closures on Monday, June 30, 2025, as the banking group kicks off its routine half-year audit.
In an official announcement shared on their verified X (formerly Twitter) page, GTCO informed customers that all their branches nationwide will stop attending to walk-in customers earlier than usual to allow for internal review processes.
The bank assured the public that this temporary adjustment is strictly for operational reasons tied to their mandatory half-year audit, a common practice among financial institutions to check financial records, processes, and compliance levels.
While in-person services will pause earlier that day, GTCO encouraged customers to make use of their digital banking platforms. Options such as internet banking, mobile apps, ATMs, and USSD codes, which will remain available 24/7 for essential banking transactions.
-
Entertainment20 hours ago
Portable Rejects ₦100m Boxing Match with VeryDarkMan, Demands ₦1bn for Street Fight
-
Entertainment20 hours ago
Actress Nkechi Blessing Sunday Reveals Mysterious ₦1 Million Weekly Salary Offer
-
Entertainment20 hours ago
Soso Soberekon Calls for Boxing Match Between Portable and VeryDarkMan
-
Entertainment20 hours ago
Seyi Awolowo Opens Up on Dating Challenges: ‘Nigerian Women are Too Beautiful’
-
Entertainment20 hours ago
Blaqbonez Breaks Silence on Weight Loss, Reveals Struggle with Foreign Food
-
Entertainment24 minutes ago
Ayra Starr Performs with Coldplay as Messi Watches from the Crowd
-
Sport14 minutes ago
Mascherano Angry as Messi Misses Home Game After Suspension
-
Sport21 minutes ago
Lamine Yamal Upset as Barcelona Signs Rashford Instead of Nico Williams