WIKE REVOKES PDP NATIONAL SECRETARIAT LAND IN ABUJA. (PHOTO).

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 Wike Revokes PDP National Secretariat Land in Abuja The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revoked the land allocated to the Peoples Democratic Party (PDP) for its national secretariat in Abuja. In a revocation notice dated March 13, 2025, and signed by the Director of Land Administration, Chijioke Nwankwoeze, Wike cited the party’s failure to pay annual ground rents for 20 years—from January 1, 2006, to January 1, 2025—despite multiple reminders through national newspapers and electronic media. The letter stated that the revocation was carried out under the powers conferred on the minister by the Land Use Act No. 6 of 1978. It also referenced Section 28, Subsection 5 (a) and (b) of the Act, which allows for land repossession due to non-compliance with occupancy conditions. The FCT administration will now take immediate possession of the property until all outstanding payments are settled.
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NNPCL UNDER PRESSURE TO CUT PETROL PRICES AMID COMPETITION WITH DANGOTE REFINERY. (PHOTO).

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 NNPCL Under Pressure to Cut Petrol Prices Amid Competition with Dangote Refinery


The Nigerian National Petroleum Company Limited (NNPCL) is considering a fresh reduction in petrol prices following a price cut announced by MRS filling stations in partnership with Dangote Refinery.


This development was confirmed in separate interviews with the National President of the Petroleum Products Retail Outlet Owners Association (PETROAN), Billy Gillis-Harry, and the Spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike.


On Monday, MRS filling stations reduced their pump prices to ₦925 per litre in Lagos, ₦933 in the South-West, ₦945 in the North, and ₦955 in the South-East, down from the previous rate of around ₦970 per litre. This follows Dangote Refinery’s earlier ex-depot price reduction from ₦970 to ₦870 per litre on February 1, 2025.


NNPCL Likely to Follow Suit

Gillis-Harry and Ukadike believe that NNPCL will soon lower its petrol prices to stay competitive in the downstream sector.


Gillis-Harry: “NNPC has no choice but to reduce prices. Consumers will naturally opt for the cheaper option.”

Ukadike: “With the ongoing price war between NNPCL and Dangote Refinery, NNPCL will have to respond with a price cut.”


Fuel Price Cuts Yet to Impact Transport Costs

Despite the price reductions, transportation and food costs remain unchanged.


Gillis-Harry: "Weak purchasing power is why fuel price cuts aren’t affecting transport fares or food prices."

Ukadike: "The impact will be gradual and will eventually reflect in transportation and other sectors."


Concerns Over Frequent Price Adjustments

Gillis-Harry criticized the frequent petrol price fluctuations, warning that they could disrupt fuel supply and cause losses for marketers who purchased stock at higher rates.


“Marketers who bought fuel at ₦970 per litre cannot sell below cost.”

“MRS and Dangote Refinery still face challenges due to weak consumer purchasing power.”


In December 2024, Dangote Refinery had reduced its petrol ex-depot price from ₦899.50 to ₦870, while NNPCL also announced a price drop. The ongoing price rivalry between both entities has led to multiple fuel price reductions in recent months.

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