Morning Recap: Dangote Defends Petrol Hikes as APC and ADC Clash Over Subsidies

Petrol prices have climbed close to N1,400 per litre in Nigeria as the Dangote Petroleum Refinery defended its third gantry-price increase in eight days. The refinery attributed the rise to the cost of crude bought earlier and the lengthy process of securing, shipping and delivering it.

Pump prices now range from N1,310 to N1,400 per litre, depending on location. Lagos and Ogun states were reported to be at about N1,310 per litre, while prices in northern states and other areas farther from the refinery had reached N1,350 or more.

The price dispute is unfolding alongside a political fight over the removal of petrol subsidies ahead of the 2027 general elections. The All Progressives Congress criticized former Vice-President Atiku Abubakar's proposal to restore the subsidy, warning that a return to the previous system could reverse economic gains and affect wages, education, infrastructure and state finances.

The African Democratic Congress took a different line, demanding that the Federal Government account for N15.8 trillion in additional revenue it said had accrued from the reforms. The roundup also highlighted a warning from the Nigerian Electricity Regulatory Commission that the moribund Ajaokuta Steel Company and its host community could lose electricity over unpaid obligations of N5.46 billion.