By Aduragbemi Omiyale

The ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, has again been reduced by Dangote Refinery to N820 per litre from N840 per litre.

A statement from the private crude oil refiner on Tuesday disclosed that the price reduction is with immediate effect.

This is coming a few days after the company brought down the price of the petroleum product to N840 per litre from N880 per litre in a bid to make it affordable to consumers and in reaction to a fall in the price of crude oil in the global market.

In the statement issued by the spokesperson of Dangote Group, Mr Anthony Chiejina, Dangote Refinery assured Nigerians of steady supply of petroleum products, noting that more independent marketers have joined the growing list of distributors retailing its high-quality products across the country.

The refinery’s existing partners—MRS, Heyden, Ardova (AP), Hyde, Optima, and Techno Oil—are expected to reflect the new pricing at their retail outlets.

The new marketing companies to have joined the company’s distribution network include TotalEnergies, Garima Petroleum, Sunbeth Energies, Sobaz Nigeria Ltd., Virgin Forest Energy, Sixxco Oil Ltd., N.U. Synergy Ltd., and Soroman Nigeria Ltd.

Others on the growing list are Jezco Oil Nigeria Ltd., Jengre, Cocean, Kifayat, Triumph Golden, Sifem Global, Riquest, and Mamu Oil, among others.

The Dangote Refinery, the largest single-train refinery in the world, continues to expand its domestic fuel distribution footprint, offering competitive pricing and improving access to refined products across Nigeria.

The refinery, recently, announced that it has invested over N720 billion to implement its initiative of deploying 4,000 Compressed Natural Gas-powered trucks for the nationwide distribution of petroleum products, saying it is expected to save Nigerians over N1.7 trillion annually.

This step, the management, will see the refinery absorb over N1.07 trillion annually in fuel distribution costs. The initiative is also poised to significantly benefit over 42 million Micro, Small and Medium Enterprises (MSMEs) by reducing energy costs and enhancing profitability, the mega refinery said.

The initiative, which eliminates transportation costs for fuel marketers and large-scale consumers, is expected to help reduce pump prices and inflation.

From August 15, Dangote will begin the direct delivery of petrol and diesel to filling stations, industrial facilities, and other high-volume consumers, the company said earlier.

Across Nigeria, thousands of hardworking entrepreneurs—from small school owners to gig economy riders—face a recurring challenge that’s as old as the hustle itself: chasing payments. Despite delivering services on time and at scale, they are often left waiting days, sometimes weeks, to get paid. This delay isn’t just frustrating—it’s costly, demoralizing, and systemically harmful.

In a business environment already strained by inflation, fuel price volatility, and limited access to credit, late payments can break even the most resilient businesses. It affects not just cash flow, but trust, planning, and the ability to grow. The stakes are especially high for cooperatives and service-based SMEs, many of whom rely on informal, manual systems to manage their finances.

Ope Adeoye, CEO of Nigerian fintech firm OnePipe, believes the solution lies in structure. Through their flagship product PaywithAccount, OnePipe is pioneering a payment system that gives Nigerian businesses more control, transparency, and dignity. In this conversation, Ope talks about the roots of Nigeria’s payment culture crisis, its emotional and economic toll, and how businesses can take back control.

Let’s start with the everyday experience. Why is late payment such a big issue in Nigeria?

It’s partly cultural and partly systemic. In Nigeria, business often happens through relationships—verbal commitments, trust, informal records. That’s a beautiful thing in some ways. But when it comes to payments, it creates a lot of gray areas. People think they’re doing you a favor by paying. There’s no urgency. And the problem is, you’ve already done the work—you’ve delivered the service, paid your staff, bought fuel, and now you’re waiting endlessly for the money.

This creates a vicious cycle. Small businesses start avoiding riskier customers or stop offering credit entirely. That affects their customer base and revenue. It becomes harder to grow. It also makes the business ecosystem more hostile—less trust, more micromanagement, more stress.

And that waiting comes with real cost, right?

Absolutely, every hour spent chasing a payment is an hour lost from doing productive work. You’re calling, texting, sending WhatsApp reminders, following up again. It’s exhausting. It affects your cash flow, your energy, and even your relationships.

We’ve seen school administrators chasing parents, cooperative treasurers begging members, and artisans refusing new jobs because they haven’t been paid for the last one. That’s lost economic value right there. And it’s not just money—it’s morale. When you can’t plan your finances, it affects your confidence in taking on new opportunities.

Is this a new problem or has it worsened in recent years?

It’s not new, but the impact has gotten worse because of economic pressures. Inflation, rising fuel costs, and business uncertainty mean that small delays can have cascading effects. If someone doesn’t pay you on time, you might not be able to pay your own supplier or staff. It becomes a ripple effect.

Also, we’re in a more digital world now. Expectations are higher. People want things faster, but the backend systems for collecting payment haven’t kept up. That disconnect creates real operational tension for many small businesses.

What’s driving the shift toward structured payment tools like PaywithAccount?

We’re seeing a real hunger for order. People are tired of chaos. PaywithAccount is built to bring structure to these informal interactions. It lets businesses or cooperatives set up a payment mandate—essentially a permission from the customer to deduct funds directly from their account at a specific time or frequency.

It works like a standing order but is simpler and designed for our local context. You don’t need complex bank setups or expensive tech. A cooperative or small business can set it up with basic onboarding and immediately start seeing the benefits in how they operate and relate with customers.

What’s the adoption been like?

It’s been encouraging. We’ve seen cooperatives that used to spend days every month chasing dues now collecting 90% of their contributions on schedule. We’ve seen service providers—like caterers—who now set up mandates with their clients for milestone payments. They report better cash flow, less tension, and more respect from customers.

More importantly, they regain time—time to focus on the actual work of building their business. We’ve also seen that clients take them more seriously. There’s a perception shift when you introduce structure. It builds credibility.

But some people might see mandates as risky or intrusive. How do you address that?

That’s a fair concern. Trust is central. We make sure every mandate is user-authorized, clear, and revocable. The idea isn’t to trap anyone—it’s to protect both sides.

In fact, many clients actually prefer it. It takes away the need for awkward reminders or renegotiations. Everyone knows what’s coming. It reduces friction. And when there’s friction, people hesitate. So having a clear system builds peace of mind.

Why do you think this is resonating now?

It is because people are tired. The hustle mentality is strong in Nigeria, but it comes at a cost. If you’re constantly working, chasing clients, borrowing short-term cash, you never get ahead.

Nigerians want to grow. They want to operate with dignity. Tools like PaywithAccount help with that—not by changing how we do business but by giving it more structure. It enables people to take themselves more seriously—and when that happens, others take them seriously too.

You mentioned cooperatives earlier. Why is this tool especially useful in that space?

Cooperatives are lifelines in this country. They’re how people save, access loans, or fund children’s school fees. But many of them still operate manually. We’ve worked with cooperatives where the treasurer keeps handwritten books and uses their personal account. That’s not scalable, and it’s open to error or fraud.

With PaywithAccount, they can collect dues digitally, get notified in real-time, and operate more like a micro-financial institution. It empowers them to formalize without losing their community feel. And that’s important—because the human connection is part of why cooperatives work.

What’s your vision for how this changes Nigerian business culture?

I want us to stop normalizing late payment. I want it to be seen as a business risk—because that’s what it is. If you can’t pay on time, you’re not being professional.

My hope is that more people start to use tools that introduce structure, whether it’s PaywithAccount or something else. The more we normalize timely payment, the more we enable SMEs to grow, plan, and hire. That’s how you build an economy from the ground up.

We often say we’re a nation of entrepreneurs. Let’s start behaving like one—serious, structured, and scalable.

Final thought—what would you say to a small business owner still unsure about all this?

I’d say: try it with just one client. Set up a mandate, see how it feels. Most times, the client even appreciates the structure. It shows you’re serious. You deserve to be paid on time. It’s not too much to ask.

Also, don’t think you have to be a big business to operate professionally. Start small, but build systems. That’s what sustains you when things get tough.

Nigeria’s economy is in a transition phase—marked by ambitious reforms, rising inflation, and a shifting investor landscape. The country recorded a 4.6 per cent GDP growth in Q4 2024, with 2025 projections at 3.6 per cent, driven by exchange rate unification, fiscal reforms, and a more market-driven policy approach.
At the same time, inflation—at 22.97 per cent as of May 2025—remains a concern. The Naira, while stabilising, still presents FX-related risks. Despite these headwinds, investors are beginning to regain confidence, and market reforms are gradually unlocking opportunities, particularly for digital-first institutions focused on access, trust, and financial empowerment.

In this interview shared with Business Post, the deputy chief executive of Coronation Securities, Mr Segun Owadokun, highlighted how the firm is positioning itself and its clients for long-term growth, navigating uncertainty, and building leadership in Nigeria’s capital markets. It has been edited for clarity. 

What strategies are you deploying to help clients preserve and grow wealth in a high-inflation environment?

Our strategy is focused on preserving real returns. We offer high-yield fixed income options like commercial papers and corporate bonds as well as strong equities with capital appreciation potential and consistent dividends. But more than just picking the right products, we help clients understand their real returns after inflation. We combine this with continuous investor education and active portfolio tracking, so clients stay nimble in a fast-moving market.

Has the unification of exchange rates influenced investor sentiment and portfolio strategy?

Absolutely. The FX unification has introduced more clarity and reduced the uncertainty that plagued investors for years. We’re already seeing renewed interest from foreign portfolio investors—this is key for liquidity and pricing efficiency. Clients can now manage currency risks more transparently, and that strengthens confidence. The FX reform is foundational—it’s building a more predictable investment environment.

What measures are in place to strengthen investor confidence during periods of economic uncertainty?

Investor confidence comes from consistency and clarity. At Coronation Securities, we provide timely insights, personalized advisory, and investor education. We run webinars, thought pieces, and send regular market updates that help clients understand the “why” behind our strategy. When clients feel informed and supported—even in volatility—they stay invested with confidence.

In what ways is Coronation Securities leveraging technology to enhance access and improve client engagement?

Technology is at the centre of how we engage. Our Coronation Wealth App and eBusiness Suite allow real-time trading, seamless onboarding, and full portfolio visibility from anywhere. We’ve also built a robust API hub that allows digital partners and aggregators to embed our services in their platforms—extending access to underserved audiences. As Nigeria’s digital-first capital markets platform, we’re rethinking access, efficiency, and scale.

Can you elaborate on your efforts to promote financial literacy, especially among retail and emerging investors?

We’re passionate about empowering informed investors. That’s why we launched the Coronation Investment Academy—a platform that simplifies financial concepts and helps new and seasoned investors build their knowledge base. We complement this with webinars, newsletters, articles, and partnerships with schools, youth groups, and regulators. For us, it’s about inclusion, empowerment, and building long-term investor confidence.

What advice does Coronation Securities provide to clients affected by infrastructure deficits and high operating costs?

We help clients, both businesses and individuals, stay resilient. For businesses, we recommend maintaining liquidity buffers, deploying capital into flexible, short-term fixed income instruments, and hedging where needed.
For individuals, we guide them toward conservative, yield-driven investments that protect capital and ensure flexibility. In volatile markets, agility and cash management are everything.

What strategies are being used to attract and engage younger Nigerians in wealth-building and investment?

At Coronation Securities, we have adopted a three-pronged approach to engage younger Nigerians in wealth creation, built around the philosophy of “Learn, Play, and Invest.” First, we launched the Coronation Investment Academy, an educational platform designed to bridge the knowledge gap by simplifying investment concepts and promoting financial literacy. Once users grasp the fundamentals, they transition to the Coronation Fantasy League App – a gamified, real-time simulation that allows them to build virtual investment portfolios using actual market data. It is a safe, engaging way to practice investing without risking real money. The final step is onboarding them onto the Coronation Wealth App, our fully digital investment platform that allows users to trade and invest seamlessly in the Nigerian capital market from anywhere. This ecosystem not only educates but also empowers young investors to take charge of their financial future in a fun, accessible, and practical way.

How are ESG principles reflected in your investment advisory and product development?

ESG is no longer a cliché – it is becoming central to how we approach investments. At Coronation Securities, we are gradually embedding ESG principles into our advisory process. We have started integrating ESG screening into our equity research and are actively guiding clients towards emerging opportunities like green bonds and sustainable finance instruments. While corporate governance has always been a key pillar in our analysis, we are now seeing growing investor interest in broader social and environmental factors, such as workplace diversity, product safety, and climate responsibility. Our clients increasingly want to align their portfolios with their values, and we are right there with them. For us, it is not just about financial returns anymore – it is about making a meaningful impact through smarter and more responsible investing.

What risk management practices help safeguard client portfolios amid current macroeconomic risks?

At Coronation Securities, we take a proactive and disciplined approach to risk management. Our dedicated risk and investment teams continuously monitor market dynamics, conduct regular stress testing, and adjust portfolio strategies to anticipate and respond to potential shocks. We emphasise diversification, real-time scenario analysis, and dynamic asset allocation to cushion against volatility. By staying ahead of economic trends and maintaining strong internal controls, we aim to ensure our clients’ portfolios remain resilient, even in volatile macroeconomic environments.

Could you share recent innovations tailored to today’s market challenges?

We’ve launched a Fixed Income Trading Desk to give clients access to high-yield, short-term products. Our digital platforms now feature tailored investment recommendations and thematic watchlists—helping clients act swiftly and strategically.

How does Coronation Securities navigate the evolving regulatory landscape to ensure compliance and investor protection?

We maintain direct engagement with regulators and run rigorous internal audits. Continuous training and transparent governance ensure we manage client assets with integrity and protect investors at all times. Our strong governance framework guarantees that client assets are managed with the highest level of integrity and transparency, safeguarding investor interests at all times.

Are there any strategic partnerships that Coronation Securities is leveraging to enhance product offerings or market reach? Absolutely. Our collaborations with fintechs and ecosystem players help us scale offerings, improve execution, and reach new segments. These partnerships keep us agile, innovative, and deeply connected across Nigeria’s financial landscape.

What is your outlook for Nigeria’s investment market over the next 3 to 5 years?

We’re optimistic. Economic reforms are gaining traction—fueling deeper market participation, diverse products, and foreign capital inflows. While fixed-income yields may normalize, equities in banking, telecoms, and FMCG will shine. Digital evolution will continue democratizing access for more Nigerians.

What practical advice would you offer to new and existing investors looking to capitalize on opportunities in Nigeria’s current economic environment?

Our advice is simple: Stay informed. Diversify. Think long term. Spread investments across sectors and work with trusted advisors like Coronation Securities. In a reforming economy, disciplined and research-based investing is the best way to unlock opportunity.