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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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Babangida must be prosecuted over his role in annulment of June 12 1993 election – Group

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Babangida must be prosecuted over his role in annulment of June 12 1993 election – Group

A well-known Nigerian human rights organisation has described the role of former military leader General Ibrahim Badamasi Babangida, in the annulment of the June 12, 1993, presidential election as a “coup d’état” against Nigeria’s democracy, thereby calling for his prosecution.

After Babangida openly admitted his role in the annulment, the Committee for the Defence of Human Rights (CDHR) made the demand.

The former monarch was accused by the group of trying to mislead Nigerians into thinking he acted in good faith, and they condemned his admission.

In a statement signed by CDHR President Debo Adeniran, the group called the annulment “reckless, illegal, and unconstitutional,” arguing that it remains one of the worst injustices inflicted upon Nigeria, severely undermining democracy and plunging the nation into political instability.

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The 1993 election, widely regarded as Nigeria’s most free and fair, was set to declare business magnate Moshood Kashimawo Olawale (MKO) Abiola as president. However, Babangida abruptly annulled the results on June 23, sparking widespread protests and unrest across the country. This move paved the way for a prolonged period of military rule and social upheaval.

CDHR claims that Babangida’s public acknowledgment is a direct admission of his involvement in an act that led to years of political chaos, economic hardship, and civil unrest.

The group insists that his actions meet the criteria for crimes against humanity and should be prosecuted accordingly.

The rights organization has called on President Bola Tinubu to take immediate action against Babangida, asserting that his confession provides enough grounds for legal action.

“We urge President Tinubu to prosecute General Babangida for crimes against humanity and for orchestrating a coup d’état that undermined the democratic will of Nigerians,” the statement declared.

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CDHR also called for posthumous recognition of MKO Abiola as a former Nigerian president and urged penalties for those who benefited from the annulment.

The organisation appealed to international human rights bodies to ensure that justice is served.

Babangida, who served as Nigeria’s military president from 1985 to 1993, has yet to publicly respond to the calls for his prosecution.

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Vigilante personnel arrested for allegedly killing, burning Resident ’s body

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Vigilante personnel arrested for allegedly killing, burning Resident’s body

A local vigilante member in Benin City has been arrested by the Edo State Police after allegedly murdering an artisan and burning his body in a chilling act of violence.

The arrest was confirmed by Moses Yamu, the Public Relations Officer for the Edo State Police Command, who spoke about the incident on Sunday.

According to Yamu, the suspect was detained after a distress call was made to the Textile Mill Road Division at approximately 8:00 a.m. on February 20, 2025.

The caller reported discovering the body of a middle-aged man covered in sawdust and burning near a sawmill.

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Upon arriving at the scene, police officers found the body still ablaze beneath the pile of sawdust.

The body was immediately taken to a nearby hospital for examination, where authorities discovered a gunshot wound to the back of the victim’s neck, raising serious concerns about the cause of death.

“The investigation is underway, and we have one suspect in custody who was the security guard at the sawmill during the incident,” Yamu said.

“The case has been transferred to the State Criminal Investigation Department for further inquiry. Once the investigation concludes, the suspect will be charged with murder.”

The victim, later identified as Lasan Osaze Erhabor, reportedly had an ongoing dispute with the vigilante member.

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On the night of the tragic event, Erhabor and a friend were returning home when they were confronted by the suspect near the sawmill.

Armed with a double-barrel shotgun, the vigilante allegedly questioned Erhabor about his late return and accused him of attempting to steal from the sawmill.

Witnesses say the suspect then shot Erhabor, killing him instantly.

The vigilante is said to have dragged the body into the sawmill, covered it with sawdust, and set it on fire in a bid to destroy any evidence of the crime.

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Deputy Senate President donates 61 cars, motorcycles to APC Leaders

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Deputy Senate President donates 61 cars, motorcycles to APC Party Leaders

The Deputy Senate President, Sen. Barau jibril, on Sunday donated 61 cars and 1,136 motorcycles to the leadership of All Progressives Congress (APC) at the grassroots in Kano State.

The News Agency of Nigeria (NAN) reports that gesture aims to empower APC members and facilitate grassroots mobilisation for party activities.

Jibril said during the presentation that the motorcycles were meant for ward chairmen while the cars would go to party leaders, including local government and zonal chairmen.

He also announced plans to empower university graduates with a N5 million loan to start small businesses.

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The National Chairman of the APC, Dr Abdullahi Ganduje, commended Jibrin for the donation, saying that it would enhance the socioeconomic well-being of party members and promote its ideals.
Ganduje expressed gratitude to President Bola Tinubu for appointing key party members from the state as ministers and to other key positions.

” We appreciate President Tinubu for making it possible to appoint Dr Mariya Bunkure as Minister of State for the Federal Capital Territory (FCT) and Alhaji Abdullahi Atta as Minister of State for Works and Housing.

” We also thank President Tinubu for appointing Mr. Rabiu Bichi as Managing Director of Hadejia River Basin Development Authority,” he said.
He said the people of Kano State would continue to support the progressive party due to the love Tinubu has shown to the state.

The APC chairman in the state, Abdullahi Abbas, praised Barau Jibrin’s empowerment scheme, urging other politicians to provide palliatives to their constituents, especially during Ramadan.

Abbas encouraged party supporters to remain vigilant and focused on winning the 2027general elections.( NAN)

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