The Independent Petroleum Marketers Association of Nigeria has said that petrol is going to sell at N935 per litre beginning from Monday (today) based on the latest arrangement with the Dangote Petroleum Refinery.

IPMAN’s National President, Maigandi Garima, said the reduction in Dangote refinery’s ex-depot price for petrol and the uniform arrangement being put in place, would enable marketers to sell at N935 in their outlets nationwide, incurring a cost of N36 on logistics.

“Dangote refinery has brought another new arrangement of loading and pricing by which marketers would pay a fixed ex-depot price of N899.50k.

“The refinery is running a programme whereby it wants the fuel consumption across the country to be at the same rate. We are expecting the new arrangement to kick-start on Monday. Previously, the loading price was N970 per litre, but from Monday, petrol prices will drop to N935,” Garima stated.

The association also stated that over 30,000 of its members are set to commence petrol loading from the Dangote Petroleum Refinery and the Port Harcourt Refining Company following the reduction of the ex-depot price of the product to N899 per litre.

This came as it was observed that the pump price of petrol dropped on Sunday to between N950 and N980 per litre in a few filling stations in Lagos including MRS, BOVAS and NNPC. However, the cost was above N1,000 per litre in many other outlets in the state.

But IPMAN promised on Sunday that the price would drop further, as it said the cost of petrol would reduce to N935 per litre in more filling stations by Monday (today) in view of Dangote refinery’s new arrangement.

Similarly, retail outlet owners under the auspices of the Petroleum Products Retail Outlet Owners Association of Nigeria have begun registration with MRS filling station to lift Dangote petrol at N935 per litre.

The IPMAN National Publicity officer, Chinedu Ukadike, and the PETROAN President, Billy Gillis-Harry, disclosed these during separate exclusive interviews with The PUNCH on Sunday.

The development came after intense pricing competition in the nation’s downstream sector, which triggered a price war between NNPCL and Dangote due to a reduction in the ex-depot price to N899 per litre.

On Saturday, the NNPCL, in a surprising development, slashed petrol prices by 12 per cent, to the delight of Nigerians and marketers.

This decision, coming days after the Dangote Refinery reduced its price to N899, was confirmed by the Petroleum Products Retail Outlet Owners Association of Nigeria in a statement on Saturday.

Before now, petrol prices had consistently increased, causing customers to worry that the price hike might be sustained during the festive season.

The reduction in price to N935 in Lagos confirms projections by marketers and was exclusively reported by The PUNCH last Friday.

Providing further updates on the preparations for product lifting, the IPMAN publicity officer stated that marketers are getting ready to start loading petrol at a reduced price, as the national oil company has updated its pricing on the purchase portal.

Ukadike also said that the competition for market share between NNPCL and Dangote is beneficial for Nigerians because, in the end, it will reveal the true cost of PMS production and the expenses incurred in logistics.

According to him, the price war is central to a deregulated oil sector.

He said, “NNPCL has changed their price at their portal. It means that everyone who has access to that portal can be able to request and pay for products. Once you pay, you will called to the depot to pick up your products. Yes, they have changed the price on their portal.”

Aminu Maida, executive vice-chairman (EV) of the Nigerian Communications Commission (NCC), says the agency will launch a draft regulatory framework aimed at addressing fraud, spam, and data privacy concerns in the application-to-person (A2P) messaging sector.

Maida spoke during a virtual stakeholders’ forum on the draft A2P licensing framework held on Friday.

A2P messaging is the use of a business application to send mobile messages — for marketing — via an automated process to a mobile user.

Represented by Chizua Whyte, head, legal and regulatory services at NCC, Maida said A2P messaging plays a vital role in today’s digital world.

“It has become the go-to platform for businesses to send notifications, whether transactional, promotional, or service-related, directly to consumers,” he said.

“From bank alerts and healthcare reminders to promotional campaigns and government updates, A2P messaging drives efficiency, enhances communication, and supports our socio-economic development.”

“For the government, A2P messaging is a powerful tool for communication with citizens, enabling the efficient delivery of public services and information. For consumers, it guarantees timely, secure, and reliable access to essential updates and services,” he said.

“For the industry, it creates opportunities for businesses and service providers to innovate, drive competition, and achieve sustainable growth.

“Despite its undeniable value, the international A2P messaging space in Nigeria faces significant challenges, including consumer protection, fraud prevention, and ensuring industry fairness.”

Maida said the gaps have led to issues “such as fraud, spam, data privacy concerns, and an unequal distribution of value across the ecosystem”.

The federal government has lifted the ban on mining activities in Zamfara state.

In 2019, the federal government banned mining activities in Zamfara and ordered foreigners within mining sites in the state to vacate the area immediately.

The government also launched a special operation to stop bandits in the state.

Speaking during a press briefing, Dele Alake, minister of solid minerals development, cited “significant improvements in the security situation across the state” as a reason for lifting the ban.

In a statement on Sunday by Segun Tomori, special assistant to the minister, Alake said Nigeria has a lot to gain from the reawakened economic activities in a highly mineralised state like Zamfara which is imbued with vast gold, lithium, and copper belts.

Alake noted that the previous ban, which was good-intentioned, inadvertently created a vacuum exploited by illegal miners to fleece the nation of its resources.

The minister noted that Zamfara’s potential for contributing to national revenue is “enormous”.

“The existential threat to lives and properties that led to the 2019 ban has abated. The security operatives’ giant strides have led to a notable reduction in the level of insecurity, and with the ban on exploration lifted, Zamfara’s mining sector can gradually begin contributing to the nation’s revenue pool,” Alake said.

The minister added that the lifting of the ban would also facilitate better regulation of mining activities in the state.

He said this will enable more effective intelligence gathering to combat illegal mining and ensure the country benefits from the state’s rich mineral resources.

Commending the media for championing the propagation of reforms and initiatives of the ministry in 2024, Alake noted that the press has been a key ally in efforts to sanitise the mining sector and promote market reforms which have made the industry attractive to indigenous and foreign investors.

On the recent controversy surrounding the memorandum of understanding (MOU) with France, Alake reaffirmed the federal government’s position that the agreement does not imply Nigeria is relinquishing control over its mineral resources or entering into any military pact with France.

He said Nigeria’s military remains fully capable of safeguarding the nation’s territorial integrity.

“The high point of the MOU is on training and capacity building for our mining professionals. We need all the assistance we can get in terms of capacity, technical, and financial support from abroad, and that wasn’t even the first we are signing,” the minister said.

“We’ve signed similar ones with Germany and Australia. Deliberate peddling of misinformation, despite facts to the contrary, is uncalled for.”