Morning recap: Dangote defends petrol price hikes, APC-ADC subsidy row, other top stories
August 31, 2026 8:02 am
File: Dangote Refinery
Making the headlines this morning, August 31, 2026, are stories that revolve around politics and energy costs, particularly how political parties and actors are making strategic moves towards the upcoming 2027 general elections.
In just eight days, the Dangote Petroleum Refinery has announced the third increase in its PMS (petrol) gantry price.
However, the refinery has defended its latest fuel price increases, attributing the upward adjustments to the cost of crude oil purchased earlier and the lengthy process involved in securing, shipping and delivering crude to the refinery.
The explanation came as the price of petrol climbed further nationwide, with the product now selling between N1,310 and N1,400 per litre, depending on location.
The row over the petrol subsidy removal between the All Progressives Congress and former Vice-President Atiku Abubakar continues, as both sides fault each other’s plans on the subsidy policy.
Also, the latest 2025 Annual Report from the Nigerian Electricity Regulatory Commission disclosed that the moribund Ajaokuta Steel Company Limited and its host community risk being disconnected from electricity supply over unpaid obligations totalling N5.46 billion.
The top stories in full:
1. Petrol near N1,400 as Dangote defends price hikes
The Dangote Petroleum Refinery has defended its latest fuel price increases, attributing the upward adjustments to the cost of crude oil purchased earlier and the lengthy process involved in securing, shipping and delivering crude to the refinery.
The explanation came as the price of Premium Motor Spirit (petrol) climbed further across the country, with the product now selling between N1,310 and N1,400 per litre, depending on location.
Petrol is currently selling for about N1,310 per litre in Lagos and Ogun states, while the price has risen to N1,350 or more in northern states and other locations farther from the refinery.
Read here for more: https://punchng.com/petrol-near-n1400-as-dangote-defends-price-hikes/
2. Subsidy row: APC attacks Atiku’s plan, ADC demands account for N15.8tn
The controversy over petrol subsidy removal has intensified ahead of the 2027 elections, with the All Progressives Congress attacking former Vice-President Atiku Abubakar’s plan to restore the subsidy, while the African Democratic Congress challenged the Federal Government to account for the N15.8tn in additional revenues it said accrued from the reforms.
The National Chairman of the APC, Prof Nentawe Yilwatda, warned that Atiku’s proposal to return Nigeria to the old fuel subsidy regime could reverse the economic gains recorded under the ongoing reforms, with negative consequences for workers’ wages, education, infrastructure and the fiscal stability of states.
Read here for more: https://punchng.com/subsidy-row-apc-attacks-atikus-plan-adc-demands-account-for-n15-8tn/
3. Ajaokuta Steel risks power cut over N5.46bn debt
The moribund Ajaokuta Steel Company Limited and its host community risk being disconnected from electricity supply over unpaid obligations totalling N5.46bn, the Nigerian Electricity Regulatory Commission has disclosed.
The NERC, in its just-released 2025 Annual Report, said the steel company and the host community failed to make any payment towards energy invoices and service charges issued by the Nigerian Bulk Electricity Trading Plc and the Market Operator during the year.
According to the report, Ajaokuta received an energy invoice of N4.96bn from NBET in 2025 but made no payment. It also failed to pay the N500m service charge invoice issued by the Market Operator, bringing the total outstanding obligation to N5.46bn.
Read here for more: https://punchng.com/ajaokuta-steel-risks-power-cut-over-n5-46bn-debt/
4. 2027: INEC list rekindles APC’s post-primary crisis
Ahead of the 2027 general elections, the ruling All Progressives Congress has intensified efforts to contain the grievances and political fallout arising from its recent primary elections and the subsequent announcement of candidates by the Independent National Electoral Commission.
On Saturday, the electoral umpire released the parties’ list of governorship candidates and their running mates along with their particulars.
The publication, contained in Form EC9, was pasted at INEC headquarters across the states, effectively ending uncertainty over candidates that will fly the flags of the major political parties in the country.
Read here for more: https://punchng.com/2027-inec-list-rekindles-apcs-post-primary-crisis/
5. 2027: Opposition summit sets agenda to unseat Tinubu
Opposition will today (Monday) converge on Abuja for a summit aimed at forging a common political front and exploring a strategy to defeat President Bola Tinubu and the ruling All Progressives Congress in the 2027 presidential election, amid deep divisions over alliance arrangements and the choice of a consensus candidate.
Two opposition political parties, the Social Democratic Party and the Peoples Redemption Party, have confirmed their participation in the summit, while the Peoples Democratic Party has ruled itself out of the gathering.
The summit, organised by the political pressure group, G-100, is expected to bring together opposition parties and political actors to discuss the possibility of greater cooperation ahead of the 2027 general elections.
Read here for more: https://punchng.com/2027-opposition-summit-sets-agenda-to-unseat-tinubu/
Ajisafe is a multimedia journalist and digital copy editor with over four years experience
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