News
N1,030 PMS: Petrol price may go up again, experts warn
Against the backdrop of the presumed full deregulation of Premium Motor Spirit (PMS), also known as petrol, which was believed to have led to the hike in the price of the product, last week, the price may go up again very soon, experts have warned.
The experts predicted their warning on further depreciation of the foreign exchange rate and an increase in the price of crude in the international market.
“And the increase in the price of crude is a very high possibility, given what is going on now in the Middle East, the geo-political tensions, the looming war between Iran and Israel”, Dr. Muda Yusuf, a renowned economist and Chief Executive Officer of Centre for the Promotion of Private Enterprise, CPPE, said.
On his part, another economist, Mr Teslim Shitta-Bey, Managing Director of Proshare, said: “The escalation of conflict in the Middle East could lead to rising global oil and gas prices, which could further raise the local retail price of petrol in Nigeria”.
Also speaking, Eze Onyekpere, Lead Director, Centre for Social Justice, CSJ, said the rising cost of PMS will increase the misery and poverty in the country
The Nigerian National Petroleum Company Limited, NNPCL, had, on Thursday, raised the pump price of PMS by 15 per cent across Nigeria.
The development confirmed Vanguard’s report that plans were underway to fully deregulate the sector and that subsidy would no longer apply.
However, the complete deregulation effect pushed the price of the product to N1,030 per litre, from N897 in Abuja, while the price rose to N998 per litre, from N855, in Lagos.
Checks by Vanguard indicated that the Dangote Petroleum Refinery price also increased by 8.8 per cent to N977 per litre, from N898 per litre.
The latest price increase made it the second time the petrol price had been hiked in the past month.
This showed that the pump price of petrol has risen by more than 411 per cent since President Bola Tinubu came into office in May 2023.
Specifically, from N195 per litre before the President assumed office on May 29, 2023, the price of the product was increased to N448 (Lagos) and N460 (Abuja) in May 31, 2024; N557 (Lagos) and N617 (Abuja) in September 2024; N610 (Lagos) and N897 (Abuja) in September 2024 before the latest increase to N998 (Lagos) and N1,030 (Abuja) in October 2024.
The latest increase, which came against expectations that the crude-for-Naira deal between the Federal Government and Dangote Refinery might lead to a reduction in the pump price beginning from October 1, 2024, has left many citizens, especially motorists, in anger.
Oil markets
Oil markets were on edge throughout last week, dealing with rumors of an imminent Israeli attack on Iranian oil infrastructure. Ultimately, Israel’s attack failed to materialize. Consequently, Brent futures settled just below the $79 per barrel mark. “Prospects of further PMS price hikes are high if some of the major variables driving prices go up”, Yusuf told Sunday Vanguard at the weekend.
“If we see a further depreciation in the exchange rates, that may cause a further hike in price. “If there is an increase in the price of crude in the international market, that may also cause a further hike in price.
“And the increase in price of crude is a very high possibility, given what is going on now in the Middle East, the geo-political tensions, the looming war between Iran and Israel. “So, those geo-political concerns are things that can lead to a further hike in crude oil price which will invariably lead to an increase in PMS price. “These are the risks that we face when we talk about complete deregulation of PMS price. The risk and the possibilities are very high at this time”.
Caution
Yusuf, who is the immediate past Director General of the Lagos Chamber of Commerce and Industry, LCCI, cautioned, “That is why we have to be extremely careful when we are pushing for a complete deregulation of PMS.
“The economy is highly sensitive, you know, to increases in PMS price. The citizens’ welfare is highly sensitive to movements in PMS prices.
“So, there’s a need to be extremely very careful because of the social consequences of further increases in PMS price”.
Dangote Refinery intervention
On the extent to which Dangote Refinery can ameliorate PMS price hikes, the economist said: “As to what Dangote can do, this is beyond Dangote. “Dangote Refinery is a business entity. It is the condition that we create either in terms of the foreign exchange environment or in terms of the crude oil sales to Dangote, that is what can make any difference in terms of price. “Dangote Refinery, on its own, cannot significantly determine the direction in which prices will go. “The best it can do is to try to be more efficient, try to be more competitive, and take advantage that the refining is taking place here.
“I think that is the best that can happen from Dangote. “If we want any significant impact on price through Dangote, then, the government policy must come into play.
“As to what the government should do with the removal of the subsidy, well, my take is that we should just relax all the pressures the citizens are facing, which may entail a trade-off in revenue.
“We should relax measures, especially around trade, around importation, around taxes.
“If you look at sectors that can impact welfare, on productivity, let us reduce their taxes drastically. Look at sectors that can impact the welfare of the people and business productivity.
“Let us reduce the import duty drastically. So whatever we are getting from this hike, let us give it back. Not through the Federation Account.
“But through concessions, through fiscal policy channels, that way I think the economy will be better. “There is no guarantee that if the government puts this money in the Federation Account, the benefits will cascade down to the people, there is no guarantee. “Many of these state governments have different priorities. Don’t forget, we are talking about the three tiers of government, not just the Federal Government.
“There’s a limit to which the Federal Government can dictate to the states and local governments on how they will spend their money. “So, the chances that the benefits will cascade or trickle down to the ordinary citizens that are bearing the burden of this hike in energy are very slim. “This is why I believe that it’s better to give concessions in other areas, particularly around taxes, around importation”.
News
BREAKING: Senate passes Bill to Establish State Police in Nigeria
The Senate on Wednesday passed the constitutional amendment bill seeking the establishment of state police across the country, marking a major step in ongoing efforts to reform Nigeria’s security architecture.
The approval followed extensive consideration of the proposal by lawmakers during plenary.
Before the vote, senators abandoned plans to use the electronic voting system after the device developed technical issues, raising concerns about the possibility of some lawmakers being excluded from the exercise.
To ensure full participation, the Senate resolved to adopt a manual voting process in which senators openly declared their positions on the bill.
The motion for the adoption of manual voting was moved by the Senate Leader, Senator Opeyemi Bamidele, and received the support of the chamber.
The passage of the bill represents one of the most significant constitutional reforms considered by the National Assembly in recent years, as advocates argue that state policing will enhance local security and improve responses to criminal activities.
The constitutional amendment will, however, require further legislative processes before it becomes fully operational.
News
Court Orders DSS Probe as Prosecutors Link VeryDarkMan to Alleged Leak of Coup Trial Evidence
The trial of six men accused of plotting to overthrow the administration of President Bola Tinubu took a dramatic turn on Tuesday after the Federal High Court in Abuja ordered the Department of State Services (DSS) to investigate the alleged leakage of sensitive court evidence to social media.
During proceedings, prosecuting counsel, Rotimi Oyedepo (SAN), informed the court that video recordings already tendered as evidence had surfaced online. He alleged that the materials were published by social media activist Martins Vincent Otse, popularly known as VeryDarkMan, and noted that the activist was present in court during the hearing.
Oyedepo urged the court to investigate how the videos were obtained and made public.
In response, Justice Joyce Abdulmalik directed the DSS to immediately probe the alleged leak. The judge ordered security operatives to determine whether any protected court materials were released in breach of existing witness-protection orders and to identify those responsible.
Justice Abdulmalik ruled that the investigation should proceed alongside the ongoing criminal trial, stressing that neither the defendants nor their legal representatives had admitted involvement in the alleged publication.
Counsel to the six defendants denied any connection to the leaked materials. Some members of the defence team argued that the prosecution should file a formal application supported by an affidavit if it wished to pursue the matter before the court.
The hearing also featured testimony from the prosecution’s fourth witness, identified only as “DDD,” who maintained that the defendants voluntarily made their statements and were neither tortured nor coerced during interrogation.
The witness dismissed claims that the accused were chained while giving statements, stating that they walked into the interview room unassisted. He further told the court that none of the defendants requested the presence of lawyers, family members, Legal Aid Council officials, or a Justice of the Peace before making their statements.
Following the testimony, the prosecution closed its case in the trial-within-trial after calling four witnesses.
The court adjourned proceedings to June 25 and June 30 for the first three defendants to open their defence, while the remaining defendants are scheduled to present theirs on July 1 and July 2.
Justice Abdulmalik also fixed July 20 for a ruling on the defendants’ bail applications.
The six men remain on trial over allegations of participating in a plot to topple the Tinubu administration—claims they have denied and which the court has yet to determine.
News
Good Governance: Nwoye Harps on Prudent Management of Public Funds, Engagement of Competent Hands
A Senior Lecturer at the Institute of Peace, Conflict and Development Studies (IPCDS), Enugu State University of Science and Technology (ESUT), Dr. Ben Nwoye, has emphasized the need for managers of public institutions, especially government-owned establishments, to prioritize prudent management of resources and the engagement of competent personnel.
Nwoye also stressed that placing qualified and capable individuals in positions of responsibility remains one of the surest ways to achieve good governance and sustainable development in any society.
The former Chairman of the All Progressives Congress (APC) in Enugu State and current Deputy National Chairman (South) of the party made the remarks on Monday during a good governance facility tour to the remodeled Government Technical College (GTC), Enugu, alongside PhD students of IPCDS.
He commended Enugu State Governor, Dr. Peter Mbah, for the transformation of GTC Enugu under the leadership of Dr. Amaka Ngene, Chairman of the Science, Technical and Vocational Schools Management Board (STVSMB), noting that the institution has been transformed from a dilapidated facility into a modern learning centre.
According to Nwoye, the visit was aimed at assessing the progress made since a similar tour of the school in 2025.
He described education as the bedrock of national development and stressed the need for governments to continue investing heavily in the sector.
“The massive transformation that has taken place at GTC Enugu would not have been possible without prudent management of resources and the appointment of capable leadership,” he said.
“When we first visited, what we saw were merely buildings and classrooms without teachers or students. We were also shown videos and photographs depicting the terrible state of the institution before the intervention of the Enugu State Government.
“Today, barely a year later, we have returned to see whether the state-of-the-art facilities have become functional, and we are impressed by what we have seen. There are teachers, students, and fully operational departments.
“This success is largely due to the quality of leadership driving the school board. The desired transformation has truly taken place, and this goes beyond politics. It is about commitment, competence, and prudent management of public funds.”
Nwoye noted that the beneficiaries of the reforms are young people whose lives are being positively impacted through quality education and vocational training.
“We must commend Governor Peter Mbah for providing the enabling environment and resources needed to achieve this. More importantly, we must acknowledge the efforts of the Board Chairman, Dr. Amaka Ngene, who has driven the entire process.”
He added that practical examples such as GTC Enugu provide valuable learning opportunities for students studying governance and leadership.
“The challenge in our country is not the absence of laws but our failure to implement them. Previous boards allowed this institution to remain in a deplorable condition. What we are seeing today demonstrates what is possible when competent individuals are entrusted with leadership responsibilities.”
Nwoye expressed satisfaction with the outcome of the tour, stating that his students were impressed by the level of transformation witnessed across the institution.
“It is gratifying because when we teach governance principles in the classroom, we can now point to practical examples where those principles are being applied successfully. Sustainable development can only be achieved when education is treated as a priority,” he said.
Speaking during the tour, Dr. Ngene attributed the board’s achievements to a fortified database system, zero tolerance for corruption, truancy, and absenteeism, as well as a commitment to accountability and efficiency.
She also praised Governor Mbah for his commitment to education, describing the ongoing reforms as an education revolution in Enugu State.
According to her, the state’s investment in education has surpassed the UNESCO recommendation of 15 to 20 per cent budgetary allocation to the sector.
“Over the last three years, Enugu State has consistently allocated an average of 23 per cent of its budget to education, reflecting the governor’s commitment to human capital development,” she disclosed.
During the facility tour, the visiting students inspected several functional departments, including the automobile repair workshop, welding and fabrication unit, computer laboratory, garment-making section, and hospitality and catering department.
The facilities provide practical vocational training for senior students, equipping them with employable skills and entrepreneurial opportunities for the future.
Dr. Ngene maintained that Governor Mbah’s administration has demonstrated the impact of good governance through strategic investments in education and human capital development, adding that the results are already evident across the state.
News
Post-Election Cleanup: Enugu Cracks Down on Unauthorized Outdoor Advertising
With the successful conclusion of the Enugu North Senatorial District by-election, the Enugu State Structures for Signage and Advertisement Agency (ENSSAA) has announced plans to commence a statewide enforcement exercise against unauthorized outdoor advertisements across the state.
The Agency said the operation would target illegally displayed posters, billboards, political campaign materials, banners, and other outdoor advertisements erected without the approval and requisite permits of ENSSAA.
In a statement issued on Monday by the General Manager of the Agency, Mr. Francis Aninwike, ENSSAA said the enforcement exercise would be carried out across Enugu metropolis and all the local government areas of the state in accordance with the provisions of the ENSSAA Law 2016, which regulates outdoor advertising and signage in Enugu State.
Aninwike explained that the Agency deliberately suspended the enforcement exercise in recent weeks to allow the Enugu North Senatorial District by-election to be concluded and to avoid giving political coloration to what is essentially a long-overdue regulatory exercise aimed at restoring order, sanity, and environmental aesthetics within the state’s outdoor advertising space.
He stressed that no individual, political party, candidate, organization, or business is permitted to erect, display, or paste advertisements, including political campaign materials, without first obtaining the approval of the Agency.
According to him, political parties, candidates, and other stakeholders are advised to immediately regularize their advertisements and obtain the necessary permits before displaying campaign materials or other outdoor advertisements in any part of the state.
The General Manager noted that the proliferation of unauthorized advertisements constitutes a violation of the law, contributes to visual pollution, defaces public infrastructure, and undermines the beauty of the environment.
He emphasized that the enforcement exercise is neither targeted at any individual nor directed against any political group.
“This enforcement exercise is not targeted at any individual or political group. It is a routine regulatory action aimed at ensuring compliance with the law and maintaining a clean, orderly, and aesthetically pleasing environment across the state,” Aninwike stated.
To ensure a smooth and peaceful operation, ENSSAA said it has secured armed police escorts for its enforcement teams. The exercise will be conducted daily between 8:00 a.m. and 6:00 p.m.
The Agency urged members of the public to comply with extant regulations and refrain from obstructing officials carrying out their lawful duties.
Aninwike reiterated ENSSAA’s commitment to sanitizing the outdoor advertising sector, enforcing compliance with relevant laws, and ensuring that outdoor advertisements across Enugu State conform to approved standards.
News
US opens applications to support Nigerians seeking admission abroad
The application is open from June 15 and will close on June 30, 2026, according to a notice published by the U.S. Embassy and Consulate in Nigeria.
The programme, coordinated by the Public Diplomacy Section of the U.S. Mission through EducationUSA Nigeria, is designed to assist academically outstanding Nigerian students with leadership potential in pursuing higher education in the United States.
According to the mission, the initiative supports access to U.S. higher education while advancing “American leadership, commercial diplomacy, and the shared economic interests of the United States and Nigeria.”
It added that the 2026 cohort aligns with the Freedom 250 celebration, marking 250 years of American leadership, innovation and democratic values.
The statement read, “Freedom250 marks 250 years of American leadership, innovation, and democratic values, and the OFP 2026 cohort will advance these priorities by preparing globally competitive talents aligned with U.S. economic and strategic interests.”
The mission said the programme also reinforces U.S. priorities on “secure, lawful, and well-managed student participation” in American higher education institutions.
It stated, “The program reinforces U.S. priorities on secure, lawful, and well-managed student participation of U.S. higher education systems, ensuring participants understand and uphold the proper use of student visas and full compliance with U.S. immigration regulations.”
It noted, “Priority consideration will be given to the highest-performing students whose academic profiles and career trajectories align with U.S. strategic interests in STEM, AI, and critical emerging technologies.”
The Opportunity Fund Programme provides financial support for essential upfront application costs, including standardised testing fees, application fees and other related expenses.
To qualify, applicants must demonstrate academic excellence, leadership potential, a clear intention to pursue post-secondary education in the United States, notable achievements, research capability, and a commitment to visa compliance and responsible participation in U.S. exchange programmes.
The statement further stressed that participants would be expected to maintain high ethical standards throughout the programme.
It said, “Participants are expected to uphold the highest standards of integrity, compliance, and accountability, including adherence to all U.S. visa regulations.
Apply here: EducationUSA Nigeria Opportunity Fund Program (OFP) 2026 – U.S. Embassy and Consulate in Nigeria
The United States Mission in Nigeria has opened applications for the 2026 cohort of the EducationUSA Nigeria Opportunity Fund Programme, inviting qualified Nigerian students seeking higher education opportunities in the US to apply.
The application is open from June 15 and will close on June 30, 2026, according to a notice published by the U.S. Embassy and Consulate in Nigeria.
The programme, coordinated by the Public Diplomacy Section of the U.S. Mission through EducationUSA Nigeria, is designed to assist academically outstanding Nigerian students with leadership potential in pursuing higher education in the United States.
According to the mission, the initiative supports access to U.S. higher education while advancing “American leadership, commercial diplomacy, and the shared economic interests of the United States and Nigeria.”
It added that the 2026 cohort aligns with the Freedom 250 celebration, marking 250 years of American leadership, innovation and democratic values.
The statement read, “Freedom250 marks 250 years of American leadership, innovation, and democratic values, and the OFP 2026 cohort will advance these priorities by preparing globally competitive talents aligned with U.S. economic and strategic interests.”
The mission said the programme also reinforces U.S. priorities on “secure, lawful, and well-managed student participation” in American higher education institutions.
It stated, “The program reinforces U.S. priorities on secure, lawful, and well-managed student participation of U.S. higher education systems, ensuring participants understand and uphold the proper use of student visas and full compliance with U.S. immigration regulations.”
It noted, “Priority consideration will be given to the highest-performing students whose academic profiles and career trajectories align with U.S. strategic interests in STEM, AI, and critical emerging technologies.”
The Opportunity Fund Programme provides financial support for essential upfront application costs, including standardised testing fees, application fees and other related expenses.
To qualify, applicants must demonstrate academic excellence, leadership potential, a clear intention to pursue post-secondary education in the United States, notable achievements, research capability, and a commitment to visa compliance and responsible participation in U.S. exchange programmes.
The statement further stressed that participants would be expected to maintain high ethical standards throughout the programme.
It said, “Participants are expected to uphold the highest standards of integrity, compliance, and accountability, including adherence to all U.S. visa regulations.
Apply here: EducationUSA Nigeria Opportunity Fund Program (OFP) 2026 – U.S. Embassy and Consulate in Nigeria
-
News2 days agoPost-Election Cleanup: Enugu Cracks Down on Unauthorized Outdoor Advertising
-
News5 days agoOpposition Parties Drag Enugu Government, ENSSAA to Court Over N150m Campaign Permit Fee
-
Education5 days agoCoal City University Slams Sahara Reporters Report as False, Malicious, Demands Retraction
-
Crime5 days agoFarmer Beheads two Elders to avenge Parents’ deaths
-
Crime4 days agoCourt Grants Anambra Native Doctor N50 Million Bail, One Surety
-
News4 days agoWhere are the Aircrafts? LP Guber Candidate Queries Ebonyi Governor
-
Crime4 days ago26-year-old girl commits suicide after multiple abortions
-
News2 days agoNigerian Customs to Retire Five Deputy Comptrollers-General, 1,516 Officers
