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With more functional refineries springing up in Nigeria, fuel prices will crash
An Economic Expert, Dr Chijioke Ekechukwu says the coming on stream of more refineries in the country is expected to crash the prices of petroleum products.
Ekechukwu, the Chief Executive Officer, Dignity Finance and Investment Ltd. said this on Tuesday in an interview with the News Agency of Nigeria (NAN) in Abuja.
According to him, this is in view of the re-streaming of the Warri Refinery.
Ekechukwu, who was skeptical on speaking about the functionality of the Warri refinery due to recent controversy and criticism surrounding the workability of the Port Harcourt Refinery, however, observed that there would be free market economy.
NAN reports that the Warri Refining and Petrochemicals Company (WRPC) in Warri, Delta State, managed by the Nigerian National Petroleum Company Limited (NNPC Ltd.) commenced operations on Monday, after years of being moribund.
The 125,000 barrels per day (bpd) Warri refinery, which was currently operating at 60 per cent of installed capacity, resumed operations after the NNPC Ltd. restarted the 60,000 bpd old Port Harcourt refinery in November.
Though the prices of petroleum products had been staggering, but recently, Dangote refinery reduced the ex-depot price of Premium Motor Spirit (PMS) from N970 to N899.50 at its loading gantry, to sell at N935 per litre at retail outlets nationwide.
The NNPC Ltd. had also announced a reduction in the ex-depot price of PMS from N1, 020 to N899 per litre, which is expected to trigger price war among marketers.
The expert, while reacting to the awaited industry competition and economic potency of the coming on stream of Warri, Port Harcourt and Dangote refineries in the country foresaw more innovations.
“Free market economy means that there should be free entry and free exit. It also brings competition and prices of goods and services lower.
“That is what competition does. In fact, more refineries should come on board, and that will force the prices lower in the long run.
“It leads to more innovations, better quality and standards.
“That is what  the existence of the refineries will bring on the table of downstream oil marketing in Nigeria.
“With the Dangote Refinery, Port Harcourt, Warri refineries and other modular refineries coming on stream, we are better for it as a country and as an economy,” he said.
He however said that the Gross Domestic Product (GDP) would also be enhanced while more employments would be created.
NAN reports that the Warri plant will focus on producing and storing critical products such as Automotive Gas Oil (Diesel), Household Kerosene (HHK), Naphtha, and Low Pour Fuel Oil (LPFO).
The plant, which is currently processing 75,000 barrels bpd which translates to 60 per cent of installed capacity, produces 2.9 million litres of diesel, 1.9 million litres of kerosene and 4.9 million litres of fuel oil.
NAN gathered that the production PMS, known as fuel will follow in the days ahead as other units of the refinery come on stream.
The 125,000bpd capacity Warri Refinery was commissioned in 1978.
It was shut down for rehabilitation in 2021 with Daewoo Engineering as the EPC contractor. (NAN)
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Scores of terrorists neutralised after Major attacks on military base

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Scores of terrorists neutralised after Major attacks on military base

Nigerian troops have successfully neutralised several terrorists and thwarted coordinated attacks in Adamawa and Borno States.

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The Joint Task Force, Operation Hadin Kai, announced that the successes followed swift and decisive responses by soldiers to attempts by insurgents to overrun military formations in the North-East.

In a statement issued on Friday, Acting Media Information Officer of the Task Force, Lieutenant Solomon Atokolo, confirmed that the operations resulted in heavy casualties for the terrorists.

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He explained that the first attack took place in the early hours of January 16, 2026, when insurgents targeted a patrol base at Sabon Gari in Madagali Local Government Area of Adamawa State.

Atokolo stated that troops under Sector 4 of Operation Hadin Kai quickly engaged the attackers and successfully repelled them. He added that reinforcements from Gulak and the Battalion Quick Reaction Force were promptly mobilised to support the operation, ensuring that the assault was decisively crushed.

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“The terrorists were successfully repelled without any casualty to our troops or damage to equipment, forcing them to abandon the attack,” the statement said.

He added that security forces later carried out clearance operations in the surrounding area, scanning for improvised explosive devices and booby traps to guarantee the safety of both civilians and personnel.

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In a separate incident on the same day, terrorists staged a large-scale, multi-directional attack on Forward Operating Base (FOB) Azir in Borno State.

The attackers attempted to breach the base’s defensive perimeter but were met with fierce resistance from troops. With support from the Air Component and other Nigerian Army aerial platforms, the soldiers unleashed sustained firepower that compelled the insurgents to retreat.

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Although rocket-propelled grenade fire from the terrorists damaged some troop-carrying vehicles and partially affected the base’s CCTV control room, Atokolo said troops maintained full control of the situation and prevented any further breach.

The military spokesperson disclosed that several weapons and ammunition were recovered from the fleeing terrorists.

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Items seized included a 60mm mortar tube, mortar bombs, locally fabricated explosives, heavy machine gun rounds, and hundreds of rounds of 7.62mm NATO ammunition.

The Joint Task Force commended the professionalism and resilience of the troops, reaffirming its commitment to sustaining operations aimed at restoring lasting peace and security to the North-East region.

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Scores of terrorists neutralised after Major attacks on military base

Nigerian troops have successfully neutralised several terrorists and thwarted coordinated attacks in Adamawa and Borno States.

Advertisement

The Joint Task Force, Operation Hadin Kai, announced that the successes followed swift and decisive responses by soldiers to attempts by insurgents to overrun military formations in the North-East.

In a statement issued on Friday, Acting Media Information Officer of the Task Force, Lieutenant Solomon Atokolo, confirmed that the operations resulted in heavy casualties for the terrorists.

Advertisement

He explained that the first attack took place in the early hours of January 16, 2026, when insurgents targeted a patrol base at Sabon Gari in Madagali Local Government Area of Adamawa State.

Atokolo stated that troops under Sector 4 of Operation Hadin Kai quickly engaged the attackers and successfully repelled them. He added that reinforcements from Gulak and the Battalion Quick Reaction Force were promptly mobilised to support the operation, ensuring that the assault was decisively crushed.

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“The terrorists were successfully repelled without any casualty to our troops or damage to equipment, forcing them to abandon the attack,” the statement said.

He added that security forces later carried out clearance operations in the surrounding area, scanning for improvised explosive devices and booby traps to guarantee the safety of both civilians and personnel.

Advertisement

In a separate incident on the same day, terrorists staged a large-scale, multi-directional attack on Forward Operating Base (FOB) Azir in Borno State.

The attackers attempted to breach the base’s defensive perimeter but were met with fierce resistance from troops. With support from the Air Component and other Nigerian Army aerial platforms, the soldiers unleashed sustained firepower that compelled the insurgents to retreat.

Advertisement

Although rocket-propelled grenade fire from the terrorists damaged some troop-carrying vehicles and partially affected the base’s CCTV control room, Atokolo said troops maintained full control of the situation and prevented any further breach.

The military spokesperson disclosed that several weapons and ammunition were recovered from the fleeing terrorists.

Advertisement

Items seized included a 60mm mortar tube, mortar bombs, locally fabricated explosives, heavy machine gun rounds, and hundreds of rounds of 7.62mm NATO ammunition.

The Joint Task Force commended the professionalism and resilience of the troops, reaffirming its commitment to sustaining operations aimed at restoring lasting peace and security to the North-East region.

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Federal Govt warns States against negotiating with Bandits

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Federal Govt warns States against negotiating with Bandits

The Minister of Defence, Christopher Musa, has urged state governments across the country to stop engaging in negotiations with bandits, warning that such actions undermine national security efforts.

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Musa made the call during an interview with BBC Hausa, where he expressed concern that dialogue with criminal groups weakens ongoing military operations.

According to him, reaching agreements with bandits often proves futile, as they cannot be trusted to honour their commitments.

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He argued that many of the criminals lack genuine remorse and are likely to renege on any deals struck with them.

The minister disclosed that the Katsina State Government was cautioned over its recent decision to facilitate the release of 70 suspected bandits from custody.

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However, the Katsina government had defended the action, describing the move as essential to consolidating community-driven peace agreements with “repentant bandits” in several local government areas.

“Negotiation with bandits is not a way out, those people are not real, whenever they come for reconciliation, they need something,” Musa spoke in Hausa language.

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“What’s happening in Katsina we told them, don’t ever make the mistake of reconciling with those people, they are liars.

“We begged people to stop negotiating with them and the government should stop. It’s not right and they will surely come back again. They don’t fear God.

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“We already informed them it damages our work, we asked them to stop, you know it’s democracy now not military rule. But we are in talk with them.”

The defence minister refuted claim that the federal government pays ransom to kidnappers.

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“Paying ransom is not good. People should stop paying ransom when they kidnap people. Report should be made and actions will be taken.”

“Federal government doesn’t pay for ransom. It might be other people and they are doing that on their own.”

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