News
Petrol Pump Price May Hit N1,000/litre As Isreal, Iran War Escalates
This came as marketers of petroleum products said petrol prices may soon rise to N1,000 per litre due to rising crude oil prices and the volatility in the foreign exchange market.
This development follows a “preemptive defensive strike,” overnight attacks launched by the United States on three of Iran’s major nuclear sites.
The strike, as announced by President Donald Trump, “obliterated” Tehran’s critical nuclear infrastructure, joining an Israeli assault in an escalation of conflict in the Middle East as Tehran vowed to defend itself. Iran is OPEC’s third-largest crude producer.
In a swift retaliation, the Iranian parliament has reportedly moved to shut the Strait of Hormuz, a strategic chokepoint that handles nearly a fifth of the world’s oil supply. The move sent immediate shockwaves through the global energy market, with Brent crude trading higher in the early hours and analysts projecting further gains.
Concerned by this trend, energy analysts on Sunday warned that the surge in global crude oil prices could push the pump price of Premium Motor Spirit (petrol) in Nigeria to as high as N1,000 per litre in the coming weeks, should Brent crude hit the $80 per barrel threshold.
The Chief Executive Officer of PetroleumPrice.ng, Olatide Jeremiah, said private depots are already gearing up to effect a hike in loading cost on Monday.
He stated, “Private depots are likely to increase petrol price to N1,000 in the coming days with the current trend observed in the market. If by tomorrow morning, crude price increases to $80 or exceeds that threshold, Nigerians would pay N1,000 at depots.
“The situation means they will take advantage of Nigerians, but we can only hope that Dangote maintains its current price, that is the only way depot owners won’t jack up the price anyhow. The price surge seen last week was basically because Dangote stopped selling for some days. But it has opened up its portal and is now selling at N880 for two million litres. Dangote remains a major determinant of petrol price.”
According to the Independent Petroleum Marketers Association of Nigeria, the heightened crisis between Israel and Iran has continued to push up crude prices, prompting a rise in global petrol prices.
On Friday, the Dangote refinery jerked up petrol prices from N825 to N880. In response, MRS Oil Nigeria and other filling stations selling Dangote petrol raised their pump prices to an average of N955 in the South East and North West.
One of our correspondents observed on Sunday that other filling stations have also hiked their prices to between N930 and N960, depending on the location. Lagos has the cheapest rate as MRS and other Dangote partners sold petrol at N925 per litre on Sunday.
Speaking on Sunday, the National Publicity Secretary of IPMAN, Chinedu Ukadike, linked the recent price hike to instability in the global crude market due to the Israel-Iran crisis and an unstable foreign exchange situation.
According to him, the Dangote refinery and importers reacted to the changes to raise petrol prices on Friday. “Once the exchange rate goes up, it will affect the price of petroleum products. Once crude oil is also going up, it will also affect it,” he said.
Ukadike warned that the cost of lifting 50,000 litres of petrol is now significantly higher, putting financial pressure on independent marketers and forcing them to review their pricing strategy.
He added, “Definitely, marketers will also increase to meet that gap. Since the refiner, which is Dangote, has already increased that price. Some of them that are importers have also increased prices in line with the international market. So, for us, consequently, it will increase the volume of money we use to buy 50,000 litres worth of petrol. It will put pressure on our finances and also make us redirect and review our market strategy.”
He added that petrol could sell for as high as N1,000 per litre, especially in some parts of the North, due to transportation and logistics costs. “In the North, we’ve seen N980, N990, N975. Some places, maybe to the far end, around N1,000,” he said.
According to him, the combination of international market forces and domestic cost burdens is making it difficult for marketers to maintain stable pricing. He said that petrol refined locally by Dangote could be sold at almost the same price as imported products, largely due to global crude price volatility.
Ukadike explained that the Dangote refinery is also sourcing crude oil at international market rates, which he said diminishes the expected price advantage over imports.
He explained that some areas, particularly the South-South, are seeing prices of up to N950 per litre due to depot proximity and marine delivery from coastal terminals. “Some of them in the South-South are using the coastal area to take their products. So those ones are selling from their depots because they collected products from vessels,” he said.
Ukadike reiterated that the cost of petrol remains heavily influenced by the interplay of crude prices, foreign exchange rates, and logistics.
Importers had earlier increased their prices following the rise in crude prices.
Our correspondent reports that Nigeria’s major crude grades—Bonny Light, Brass River, and Qua Iboe—rose to $79 per barrel last week and sustained the rise till yesterday, following Israel’s military strikes on Iran, heightening fears of a wider Middle East conflict.
According to data from Oilprice.com as of Sunday, Bonny Light stood at $78.62 per barrel, while Brass River and Qua Iboe closed at approximately $79. From around N65 in the past weeks, Brent stood at $77, and WTI rose to $73.84 per barrel.
The new price levels exceed the Federal Government’s 2025 budget benchmark of $75 per barrel by about $3, potentially offering short-term fiscal relief. The new price levels exceed the Federal Government’s 2025 budget benchmark of $75 per barrel by about $3, potentially offering short-term fiscal relief.
Analysts had earlier warned that higher crude prices could trigger an increase in local fuel prices, as refiners face rising costs for crude, the primary feedstock for petrol and diesel production. Since Monday, depots have hiked the pump prices of petrol after the escalating tension in the Middle East jerked up the prices of crude oil.
Petrol price rose from N825 to N840 on Monday. Rainoil’s price surged by N50, from N850 to N900 per litre. It was also reported that Fynefield and Mainland jerked their ex-depot prices to N930 and N920, adding N51 and N63 respectively.
As of Monday, Sigmund was selling at N920 per litre; Matrix Warri’s price was N910; NIPCO jumped to N895 from N827 last week, while Aiteo sold petrol at the rate of N840, as shown by Petroleumprice.com. Our correspondent observed that SGR, which was selling petrol at N850 before now, adjusted its pump price to N930 per litre.
The Nigerian National Petroleum Company Limited is also expected to change its pump prices. Similarly, the head of geopolitical analysis at Rystad and a former OPEC official, Jorge Leon, in an interview with Reuters, noted that “An oil price jump is expected. Even in the absence of immediate retaliation, markets are likely to price in a higher geopolitical risk premium.”
Global oil benchmark Brent crude could gain $3 to $5 per barrel when markets open, SEB analyst Ole Hvalbye said in a note. Brent settled at $77.01 a barrel on Friday, and US West Texas Intermediate at $73.84.
Ole Hansen, analyst at Saxo Bank, said crude could open $4 to $5 higher, with potential for some long positioning being unwound. Crude had settled down on Friday after the US imposed fresh Iran-related sanctions, including on two entities based in Hong Kong, and counter-terrorism-related sanctions, according to a notice on the US Treasury Department website.
Brent has risen 11 per cent while WTI has gained around 10 per cent since the conflict began on June 13, with Israel targeting Iran’s nuclear sites and Iranian missiles hitting buildings in Tel Aviv.
Currently stable supply conditions and the availability of spare production capacity among other OPEC members have limited oil’s gains. Risk premiums have typically faded when no supply disruptions occurred, said Giovanni Staunovo, analyst at UBS
“The direction of oil prices from here will depend on whether there are supply disruptions, which would likely result in higher prices, or if there is a de-escalation in the conflict, resulting in a fading risk premium,” he said.
Meanwhile, Iran’s parliament has reportedly voted to close the Strait of Hormuz, considered a strategic and vital asset. The decision to close the strait is not yet final, and it was not officially reported that parliament had adopted a bill to that effect.
Instead, a member of parliament’s national security commission, Esmail Kosari, was quoted on other Iranian media as saying: “For now, [parliament has] concluded we should close the Strait of Hormuz, but the final decision in this regard is the responsibility of the Supreme National Security Council.
The Strait of Hormuz lies between Oman and Iran and links the Persian Gulf north of it with the Gulf of Oman to the south and the Arabian Sea beyond. It is 21 miles (33 km) wide at its narrowest point, with the shipping lane just 2 miles (3 km) wide in either direction. About 20 per cent of the world’s oil, estimated at 17 to 18 million barrels per day, passes through it.
News
South-East Development at Risk? Fresh Allegations Shake SEDC Leadership
The Abia State’s “Senior man” is leg-deep into a messy murky-water fight with the SEDC, I learnt. The crux of the squabble is saddening.
While Senator Orji Uzor Kalu wants a huge bite from a crumb-pie federal allocation the SEDC barely gets to fund its activities, the commission’s management is refusing to open its vault. For this, a fatal crisis brews.
I dug deeply to uncover the hidden cracks, which neither Orji Uzor Kalu nor the SEDC wants visible to the public.
A Thread.
When the Senate President, Godswill Akpabio, announced the 10-Man Senate Committee to oversee the activities of the South East Development Commission (SEDC) and made Orji Uzor Kalu its Chairman, many South Easterners, like myself, were underwhelmed.
“How can a man who was once convicted of funds embezzlement and wanton corruption lead a committee that will conduct a transparent oversight function on the SEDC?” I questioned. The logic was vague.
Today, those silent doubts have been proven valid. The Abia state “senior man” in kleptocracy is showing off his true colours and they read red for the SEDC, the region’s “child” development initiative that should rather enjoy the support of every stakeholder from the region.
Before we get into unraveling the ridiculous “settlement” demands of OUK and the impending showdown, let’s take a look at the SEDC’s activities so far.
On February 12th, 2025, the SEDC Management Team, Governing Board, and Senate Committee were inaugurated. Tinubu’s government announced a N140 billion yearly allocation for the commission and directed its Management to draft its budget around the figure.
The Commission did as directed, drafted a N120 billion budget. But for its vision for the South East development, it included more critical infrastructures in the budget. This shot the budget to N250 billion.
In its revenue mapping, it factored in raising the N110 billion shortfall internally – all by itself. This didn’t pose a problem. The government approved the budget. Allocations will come in monthly, in a tranche of N10 billion each month.
Unsurprisingly, the Commission didn’t get any budgetary allocation throughout 2025. In these months of financial drought and zero cash inflow, everywhere was quiet. Senator Orji Uzor and his committee members didn’t see a need to exercise oversight on the Commission’s activities.
But in December 2025, the government released a N5 billion take-off grant to the Commission. For context, a take-off grant is a mobilization fund. The commission is expected to use it to acquire and renovate office spaces, pay salary arrears for its staff, and cover other expenses it may have incurred throughout its 9 months of takeoff.
As soon as the funds arrived, the bees gathered to perch on the honeycomb. But with the honey sealed, the parasitic bees are piping to sting on the host with such a rude sense of entitlement. This is the crux of the matter.
I learnt the SEDC Management had yet to map out the expenditure for the takeoff grant when the “arrogant racketeers” came banging at the door for a fat share, with their greedy potbellies. I tried to obtain details but the SEDC declined. I assume they fear Orji Uzor Kalu’s brutish wrath.
Senator Orji Uzor Kalu and his fellows want about 35% cut from the N5 billion takeoff grant, and also for subsequent allocations that the commission gets. How much more ridiculous can it get?
On what grounds does the so-called Senate Committee demand about 35% of the takeoff grant and subsequent allocations? Is the SEDC their private ventures? How more gluttonous can their kleptocratic deep pockets be?
The SEDC Management declined. And it is sticking with its “no” with vehement insistence. This set the tone for the fight which has now spiraled to a destructive dimension. In fact, it threatens the existence of the commission.
This year, the Commission has only received N1.8 billion twice, in January and February. The rest of the months so far, it has gone without allocation. I learnt that the Venture Capital Competition it recently hosted, which funded 25 startups and existing businesses from South Easterners, was financed largely by private investors – which the commissioned sourced.
Yet, Orji Uzor Kalu and fellow money-mongers want a bite from the fragmented pie.
Recall that earlier in February this year, the Senate Committee, through Senator OUK, issued a “stern warning” to the commission over “the management of N250 billion takeoff grant.” It was because the Commission refused to hand them about 35% cut from the N5 billion. They lied that it was N250 billion.
Is the Senate Committee backing down yet? Never. They have summoned the Commission to appear before them on June 9th, tomorrow. They cannot understand stubborn Will and resolve of the SEDC Management Team to resist their insidious interference and mute their atrocious kleptocratic taste.
They now want to carry out a comprehensive probe into the SEDC activities. The Commission must provide details of all projects, programmes, interventions, and contracts it has executed so far, including their locations, costs, procurement processes, and implementation status.
Wouldn’t this have earned a reputable applause had the Senate Committee not been driven by a heinous greed and sought to choke a Southeast’s only Development Initiative to termination?
Isn’t it time for the leaders and stakeholders from the South East to stand up to Orji Uzor Kalu and his colleagues in the SEDC Senate Committee to quit this scandalous meddlesomeness and allow the Commission to do its job?
Beyond the oversight function of monitoring and probing the activities of the Commission to ensure that it runs efficiently and effectively, and that it is transparent and accountable in all its dealings, the Senate Committee has no other business but to focus on its lawmaking duties. It should remain at this!
News
Anambra Govt urged to Stop Salary Deductions As Head Of Service Shuns Newsmen
By Okey Maduforo, Awka
The Anambra State chapter of the Nigerian Labour Congress (NLC) has called on the state government to suspend further salary deductions affecting workers pending the conclusion of investigations by a committee set up to address the issue.
For the past three months, workers in the state have complained about unexplained deductions from their monthly salaries, describing the development as unacceptable. Many affected workers insist that even those who report to work regularly and punctually have had portions of their salaries deducted.
Some workers have accused the state government of implementing punitive measures linked to the prolonged Monday sit-at-home order previously enforced by the separatist group, the Indigenous People of Biafra (IPOB), which kept many workers away from their duties for several years.
Speaking with journalists, the Anambra State NLC Chairman, Comrade Humphrey Nwafor, disclosed that the issue was raised during the 2026 Workers’ Day celebration, prompting Governor Charles Soludo to establish a committee to investigate the allegations.
According to Nwafor, the committee comprises the NLC Chairman, the Trade Union Congress (TUC) Chairman, the Commissioner for Finance, and the Head of Service.
He explained that during the committee’s meeting last week, members resolved that salary deductions should be suspended pending the submission of the committee’s final report. The responsibility of addressing the issue in the interim was assigned to the Commissioner for Finance and the Head of Service.
“We met last week and resolved that those deductions should be put on hold for now while the Commissioner for Finance and the Head of Service manage the situation. Organized Labour has agreed to stay action while the government looks into the matter,” Nwafor said.
Efforts to obtain comments from the Head of Service, Barrister Ngozi Anuli-Iwuono, were unsuccessful. When contacted, she expressed frustration over frequent calls from journalists and declined to comment on the matter.
This reporter had earlier contacted her on Monday, when she explained that she was attending an Executive Council meeting and could not immediately respond. However, when contacted again on Tuesday, June 9, at about 1:25 p.m., she stated that she was in another meeting.
“I am in another meeting. Why are journalists calling me every time? Last time it was Tribune, today it is Telegraph. Please, you people should stop calling me,” she said.
Meanwhile, the Commissioner for Information, Dr. Law Mefor, assured workers that the matter was receiving attention and revealed that some affected employees had already started receiving the balance of their deducted salaries.
Mefor explained that most of the affected workers were stationed outside the state headquarters. He noted that the Ministry of Finance relies on attendance records submitted by various departments and unit heads to determine salary payments.
“It is based on the information available to the Ministry of Finance regarding those who reported for duty through the attendance clock-in system. This issue mainly affects workers in outstations and not those at the headquarters,” he said.
“People have started receiving their full salaries, and many of those who failed to clock in were affected. This is already being verified.”
Using the Ministry of Information as an example, Mefor said the ministry has about 185 workers, the majority of whom serve as Information Officers across local government areas. He added that evidence of their attendance was submitted to the Ministry of Finance to facilitate payment.
“Here in the Ministry of Information, we have about 185 workers, most of whom are posted to local government areas. We provided evidence of their attendance to the Ministry of Finance, and necessary adjustments are being made,” he stated.
News
Three Dead as Warri-Itakpe Train Derails in Delta, NRC Confirms
The Nigerian Railway Corporation (NRC) has confirmed the death of three persons following the derailment of the Warri-Itakpe train in Agbor, Delta State.
The corporation disclosed that four coaches left the rail track during the incident, which occurred on Monday, June 8, 2026.
In a statement, the Managing Director of the NRC, Dr. Kayode Opeifa, said emergency response teams and other relevant authorities were immediately mobilised to the scene to manage the situation and provide assistance to affected passengers.
“The Nigerian Railway Corporation (NRC) has confirmed a serious train accident involving the Warri-Itakpe Train Service (WITS) corridor at Agbor, Delta State,” the statement said.
According to Opeifa, rescue and emergency response operations were activated immediately after the accident, and all passengers on board have since been accounted for.
“Sadly, three fatalities have been confirmed at this time,” he stated.
He added that relevant authorities are continuing to assess the full circumstances surrounding the incident, while support is being provided to injured and affected passengers.
“Our thoughts and prayers are with the victims, their families, and loved ones during this difficult time,” Opeifa said.
The NRC urged members of the public to rely only on verified information and official updates from the corporation as investigations into the cause of the derailment continue.
News
Newlywed Woman Disappears After Discovering Husband Had Two Children
A newly married Nigerian woman who was recently declared missing by her family in Abuja has reportedly left her matrimonial home after discovering that her husband allegedly had two children with different women.
The woman, from Mbabum Community in Ukum Local Government Area of Benue State, had been the subject of a public appeal by her family, who sought assistance in locating her after she allegedly left her husband’s residence in Abuja.
According to a statement attributed to a family representative, Hon. Goshi Peter, the woman married Goshi Bem in March 2026 but left her matrimonial home about two weeks ago and had not returned.
However, in an update shared on Saturday, June 6, 2026, a Facebook user, Tyom Alexander, claimed she had spoken with the woman by phone.
According to Alexander, the woman said she left her husband’s home after discovering that he had two children from different women, information she alleged was not disclosed to her before their marriage.
“I have been able to speak with this woman through the phone number provided by the whistleblower,” Alexander wrote.
“She said her husband didn’t tell her that he had children before their marriage. She only discovered this after they relocated to Abuja.
“The first child is five years old, while the second child is two years old, both from different mothers.”
Alexander further claimed that the woman stated she was safe and still in Abuja, and reportedly warned her husband not to bother searching for her.
“According to her, the man should not bother looking for her as she is doing fine in Abuja,” Alexander added.
“If this is true, then the man has disappointed me. I wait to hear the man’s side of the story.”
As of the time of filing this report, the husband’s response to the allegations had not been made public.
News
Consultant Laments Fate Of 200,000 kms Of Nigerian Roads
By Okey Maduforo Awka
The fate of Nigerian roads especially the highways appears to be under threat of this year’s rainy season following fears by professionals that the over 200,000 kilometers of roads may collapse by the end of the year .
Deepening this apprehension is the lack of maintenance of those roads which have yearly carried loafs above it’s capacity occasioned by heavy duty trucks and tankers .
Expressing these fears , Consultant Engineer to the Federal government Patience Aningo noted that if urgent steps are not taken this year’s rainy season would spell doom for motorists and other road users across the country.
“Without consistent enforcement of axle load limits, and steady maintenance of our federal highways there strong indications that the country is at the risk of loosing over 200,000 kilometers of roads ”
“Roads require precision from proper compaction to correct layer thickness”
“By then, what could have been addressed with minor engineering challenges would become a huge cost of maintenance”
“The frustrations lies a deeper issue and the persistent failure of roads that should last far longer is compromised by laxity on the part of the authorities concerned”
“The outcomes are sometimes undermined by weak supervision, inconsistent material quality, and cost”
She observed that poor drainage system has also been the bane of the Federal roads in the country.
“Nigeria has one of the largest road networks in Africa estimated at over 200,000 kilometers yet a
One major factor is inadequate drainage”
“Roads are not just paved surfaces; they are engineered drainage
systems, sealing cracks, and timely patching remains underutilized, despite its proven
underlying soil, and accelerates structural deterioration”
“In a country with intense seasonal rainfall, neglecting drainage is one
of the fastest ways to shorten a road’s lifespan.’
“Regulations must be enforced consistently to protect infrastructure investments”
“Similarly, the Abuja–Kaduna Highway remains a critical but vulnerable route, where
pavement distress and operational challenges continue to highlight the strain placed on key compromise
during construction directly reduces durability and increases long-term costs”
“Drainage must be treated as a core design element, not an afterthought which affects Axle load against
what they were originally designed for”
“Heavy-duty trucks often overloaded introduce stresses that affect the roads ”
“Many Nigerian roads now carry traffic volumes and axle loads far beyond routes in the country
and despite ongoing reconstruction efforts, sections have deteriorated quickly ”
“When water is not properly managed, it penetrates the pavement layers, weakens the
This pattern is evident on major corridors such as the Lagos–Ibadan Expressway, one of the busiest in the country “she stated.
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