Edo State’s e-hailing community, represented by the Amalgamated Union of App-based Transporters of Nigeria (AUATON), has openly opposed the Federal Government’s planned 5% tax on petroleum products like petrol and diesel. The drivers warn this additional cost will worsen their already strained finances. The union’s chairman, Comrade Russell Eghaghe, described the government’s decision to impose this charge as troubling and unfair, especially given the steady rise in fuel costs over the years. He emphasized that applying a new charge on top of already inflated prices only adds to the financial hardship faced by drivers who rely heavily on fuel for their livelihood. This new taxation measure is part of the Nigeria Tax Administrative Act, signed into law by President Bola Ahmed Tinubu in June 2023. While intended to enhance government revenue and ensure fiscal sustainability, it has raised discontent among those most affected, notably transport workers in the informal economy. Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, explained that the finances generated from this policy will be funneled back into improving the country’s transport infrastructure. He stressed that this reinvestment is aimed at lowering overall transportation expenses and curbing inflationary pressures across Nigeria. However, AUATON remains unconvinced by these assurances. According to Comrade Eghaghe, the continuous rise in living costs, compounded by the lack of regulatory oversight on goods and service pricing, places severe pressure on drivers’ earnings. He called for a collective stand among transporters to oppose the measure, urging unity and active engagement to challenge policies harmful to their welfare. The government has clarified that the enforcement date for the tax remains undecided, pending an official announcement from Finance Minister Wale Edun. This dispels earlier rumors suggesting the fee would start in January 2026. In the meantime, several Nigerians, including business groups and political figures, have voiced their concern. The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) warned that the charge might force some outlets to shut down operations. Peter Obi, the 2023 Labour Party presidential candidate, criticized the policy for abandoning earlier promises of subsidies on Compressed Natural Gas (CNG), ultimately increasing the burden on citizens. According to Peter Obi instead of the policies to alleviate hardship, it intensifies it and that the subsidies once promised have vanished, leaving Nigerians to shoulder even more expense. For now, transport workers and allied groups are mobilizing to express their opposition, hoping to influence policymakers to reconsider or adjust the plan in favor of vulnerable citizens.
NNPC backs out sale of Port Harcourt refinery, reaffirms national commitment
The Nigerian National Petroleum Company Limited (NNPC) has officially announced that it will not sell the Port Harcourt Refinery, promising to complete its rehabilitation and keep the plant under national control. This new position was confirmed by NNPC’s Group Chief Executive Officer, Bayo Ojulari, during a company-wide town hall meeting at NNPC Towers, Abuja, on Tuesday, July 29, 2025. The official statement was widely reported by national dailies including Premium Times, Punch, and Nairametrics. Ojulari clarified that the company’s decision is based on technical and financial reviews of Nigeria’s main refineries. According to Premium Times, Ojulari explained, “The Nigerian National Petroleum Company Limited (NNPC) Ltd has officially ruled out sale of the Port Harcourt Refining Company, reaffirming its commitment to completing high-graded rehabilitation and retention of the plant”. He further stated that “the emerging outlook calls for more advanced technical partnerships to complete and upgrade the rehabilitation of the Port Harcourt refinery. Thus, selling is highly unlikely as it would lead to further value erosion”. Reporting from Nairametrics adds that feedback from NNPC staff after the announcement was positive, as many described the move as “reassuring” and “transformational” for the company’s direction. Recent speculation about a possible sale followed Ojulari’s earlier comments at the 2025 OPEC Seminar, where he said “all options are on the table” for Nigeria’s non-performing refineries. Ojulari clarified at the town hall that the current decision is not a reversal, but instead, “informed by ongoing detailed technical and financial reviews” NNPC says it will continue to prioritize transparency and professional management, with the refinery’s rehabilitation remaining a top priority for Nigeria’s broader energy security and for retaining critical assets under national control. The Port Harcourt Refinery will stay government-owned as NNPC moves forward with its rehabilitation plan, which industry watchers and staff hope will boost local fuel supply and reduce Nigeria’s heavy reliance on imports.
Fuel importers beat Dangote’s price, petrol drops below ₦820 per litre
Petrol importers in Nigeria have pushed prices lower than the Dangote Petroleum Refinery, launching a fierce new round of competition in the country’s fuel market. On Tuesday, several media reported filling stations in Lagos and Ogun sold petrol for as little as ₦847 per litre, cheaper than the ₦865 – ₦875 range seen at outlets linked to Dangote. Behind the scenes, importers like Aiteo and Menj cut their depot rates to just ₦815 per litre, undercutting Dangote’s own depot price of ₦820 per litre. This unexpected move marks the strongest challenge yet to the refinery’s market power since it began production. Industry experts say the price war started when the Dangote refinery slashed its rates several times in July 2025, dropping its ex-depot price from ₦880 to ₦840 and then to ₦820 per litre, responding to falling global oil prices and growing competition. But importers reacted quickly, dropping their own prices below Dangote’s latest offer. As a result, more independent stations are now charging less than outlets tied to Nigeria’s biggest refinery. Chinedu Ukadike, a spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed the trend: “Importers keep finding ways to bring prices down. The market is open, and real competition is what matters most for consumers.” For Nigerian motorists and businesses, the price drops mean shorter queues and a bit of financial relief after a year of high petrol costs. However, some fuel marketers warn that rapidly falling prices make it hard for them to break even, with some forced to sell at a loss if they bought stock at higher prices earlier in the month. The energy sector is now on alert for further changes. Some experts predict more price cuts if importers maintain their momentum, while others warn that ongoing volatility could strain smaller fuel marketers. For now, Nigerians are seeing the direct benefits of open competition at the pump – with petrol prices at their lowest since local refinery production ramped up. Industry analysts will watch closely to see if Dangote responds again or if importers keep the upper hand in this unfolding price battle