Marketers and experts reject Dangote Refinery's dollar pricing for petroleum products
via Punch Nigeria11 min read
Independent petroleum marketers and energy experts have expressed strong opposition to the Dangote Petroleum Refinery's decision to price petroleum products in US dollars. They warn that this move could intensify foreign exchange pressures and destabilize Nigeria's downstream petroleum sector. Stakeholders, including the Petroleum Products Retail Outlets Owners Association of Nigeria PETROAN and the Independent Petroleum Marketers Association of Nigeria IPMAN, argue that while the refinery is a private entity, dollar-denominated pricing for locally consumed products could lead to a dollarized economy and increased pump price volatility. PETROAN National President, Billy Gillis-Harry, stated that this decision could force marketers to pass on the burden to consumers and urged the Nigerian National Petroleum Company Limited to revive national refineries to foster competition. IPMAN National Publicity Secretary, Chinedu Ukadike, appealed to President Bola Tinubu to intervene, emphasizing that petroleum product prices are directly linked to crude oil prices and exchange rates. He warned that tying more transactions to the dollar would increase demand for scarce foreign currency, ultimately driving up pump prices. Conversely, some energy experts, like petroleum economist Professor Emeritus Wumi Iledare, view the refinery's decision as a commercial strategy to manage foreign exchange risks, given that crude oil and other inputs are dollar-linked. He clarified that this is not price
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The Nigeria Football Federation has issued a warning to Nigeria Premier Football League clubs, urging full compliance with club licensing regulations for the upcoming 2026/27 season. The NFF, with the backing of the National Sports Commission, plans strict enforcement of these rules. This warning follows a communiqué from the NFF Executive Committee meeting in Asaba, Delta State, where the NSC's commitment to supporting the licensing framework was welcomed. These measures are part of broader reforms in the domestic league, which include a proposed N2.5bn prize pool for the 2026/27 NPFL season and an increase in the minimum player salary from N150,000 to N2m. NSC Director-General, Bukola Olopade, stated that these reforms aim to professionalize the league, making it more competitive and attractive to players, thereby preventing them from seeking opportunities in other countries. The NPFL board has tentatively scheduled the 2026/27 season to commence between August 27 and 29, concluding on May 28, 2027, with the President Federation Cup fixtures also integrated into the structured domestic football calendar.
Portuguese top-flight club SC Braga has completed the signing of 18-year-old Nigerian defender Adebisi Olamikun from Nigeria Premier Football League side Inter Lagos. Inter Lagos confirmed the transfer, noting Olamikun's reputation as one of the country's brightest young defenders. Reports indicate the left-footed centre-back has signed a long-term contract in a deal valued at approximately €50,000. Olamikun has already arrived in Portugal and will begin his development with Braga’s youth team, aiming to progress to the senior squad. His move follows an impressive period at Inter Lagos, where his composed displays and defensive qualities made him a standout young talent in the NPFL. This transfer highlights Inter Lagos' growing success in nurturing players for European football. According to Transfermarkt, Olamikun is the eighth Nigerian to join Braga, following in the footsteps of players like former Super Eagles defender Elderson Echiejile.
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