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.
The Director of the Enugu State Fire and Rescue Service, Chief Okwudili Ohaa, has said the swift mobilisation of emergency resources by Governor Peter Mbah led to the rescue of five occupants trapped in a collapsed building in Enugu metropolis.
The uncompleted four-storey building, located along Ogbaru Street, by Alvan Ikokwu Street, Independence Layout, Enugu, collapsed in the early hours of Sunday.
Ohaa told newsmen on Sunday that all five occupants of the building, as confirmed by the security guard on duty, were successfully rescued.
Ohaa
He said four of the occupants were rescued alive and conscious, although they sustained injuries, while the fifth person was rescued unconscious.
Ohaa commended Governor Mbah for his swift mobilisation of emergency response agencies, including the Red Cross, Enugu State Emergency Management Agency (SEMA), Enugu State Ambulance Services, the police and the Nigeria Security and Civil Defence Corps (NSCDC).
Other agencies and organisations at the scene included the National Emergency Management Agency (NEMA), Enugu Capital Territory Development Agency (ECTDA) and a Chinese construction company, which provided four heavy-duty cranes.
According to Ohaa, the governor alerted him about the incident early Sunday morning, prompting the immediate mobilisation of officers of the Enugu State Fire and Rescue Service to the scene with extrication equipment.
“His Excellency, Dr Peter Ndubuisi Mbah, must be commended for also mobilising adequate rescue equipment such as heavy-duty cranes, bulldozers and excavators, which ensured the rescue of the five persons,” he said.
Ohaa explained that rescue officers initially relied on information from the security guard to determine how many people were trapped in the building.
“As rescue officers, what we did was to ask the security man how many people were here. He said there were supposed to be six. One person had left before it happened.
“So, we were able at that initial time to rescue four persons. Out of the four, two sustained minor injuries and they were all rushed to a health facility for proper checks,” he said.
The Chief Fire and Rescue Officer said the fifth person was eventually recovered unconscious and taken to a health facility by the Enugu State Ambulance Services.
The NEMA Information Officer in Enugu, Mr Nnanyelugo Ezeani, also confirmed that five people were rescued.
He said the situation could have been worse because the state government had earlier sealed the construction site.
“One person among the six residing in the collapsed building was not on the site at the time of the incident, while five others were rescued and taken to the hospital,” Ezeani said.
Speaking on the incident, the Executive Chairman of the Enugu Capital Territory Development Agency (ECTDA), Mr Uche Anya, described the developer as one of those who failed to comply with building regulations.
Anya said the ECTDA had earlier taken regulatory action by sealing the site, which was originally approved in 2021.
“This property was approved in 2021 before the advent of this administration. But usually, we have a habit of stocktaking and checking on every construction at every stage.
“When I personally led the team that inspected here, we found out that there were serious integrity issues and non-compliance with their 2021 approval.
“I personally issued the first ‘stop-work order,’ which, due to the violation, resulted in our sealing the place over the last six months outrightly.
“So, I think within the last 30 to 40 days, the representative of the owner, whom they say lives abroad, has been interfacing with us to remedy the situation. This is the process that we are still trying to interface on, and it came down.”
Anya added that he had handed the owner’s representative over to the police to assist with the investigation.
“This is really a very unfortunate situation,” he said.
A four-storey building under construction in Enugu has collapsed, killing at least one person and trapping several construction workers beneath the rubble.
The incident occurred on Sunday morning at the uncompleted structure, reportedly being developed as a hotel, causing panic among residents and passersby.
According to authorities, six workers were believed to have been sleeping inside the building when it collapsed. Four workers have so far been rescued, while the body of one victim has been recovered.
Authorities said one of the six workers reportedly left the site shortly before the collapse, raising hopes that fewer people may be trapped beneath the debris than initially feared.
The rescued workers were taken to the Enugu State Teaching Hospital for treatment.
Emergency responders, including the National Emergency Management Agency (NEMA), Nigerian Red Cross Society, Enugu State Emergency Management Agency (SEMA), Enugu State Capital Territory Development Authority and the police, are participating in the rescue operation.
The cause of the collapse has not yet been established, while rescue efforts continue at the scene.
The member representing Ikwo/Ezza South Federal Constituency in the House of Representatives, Chinedu Ogah, has called on the Economic and Financial Crimes Commission (EFCC) and other anti-graft agencies to investigate the financial activities and source of wealth of socialite and businessman, Paschal Okechukwu, popularly known as Cubana Chief Priest.
Ogah, who is Chairman of the House Committee on Reformatory Institutions, made the call on Thursday at a press conference in Abakaliki, Ebonyi State.
The lawmaker said the businessman’s financial dealings should be subjected to scrutiny regardless of his public profile.
“I am urging the EFCC to thoroughly investigate him, investigate his bank accounts, investigate all the things he does,” Ogah said.
He also accused Cubana Chief Priest of undermining President Bola Tinubu’s political fortunes in the South-East ahead of the 2027 general elections.
Ogah questioned the socialite’s claim to political influence in Ebonyi State and challenged him to make his membership card of the All Progressives Congress (APC) public.
The lawmaker further criticised recent comments attributed to Cubana Chief Priest on social media in which he reportedly called for the resignation of Ebonyi State Governor, Francis Nwifuru.
Ogah demanded that the comments be withdrawn and followed by an apology, warning that legal action could be taken if the businessman failed to comply.
“Who is Cubana Chief Priest? What is his address that gives him the impetus to speak against our governor, the most performing governor in Nigeria?” he asked.
According to Ogah, Cubana Chief Priest had no electoral mandate to speak on behalf of Ebonyi State or demand the resignation of its elected governor.
He also questioned the businessman’s political influence, noting that he had previously contested an election in Imo State but failed to secure the party’s primary ticket.
Ogah alleges plot against Nwifuru
The lawmaker further alleged that unnamed political actors were sponsoring campaigns aimed at discrediting the Nwifuru administration and weakening the APC ahead of the 2027 elections.
He defended the state’s security architecture, particularly the Commissioner of Police, Hope Okafor, against what he described as an orchestrated campaign for her removal.
Ogah urged the Nigeria Police Force, Department of State Services (DSS) and other relevant agencies to investigate those behind the alleged campaign and determine whether any law had been breached.
“All of us can attest to the peace and security we enjoy in Ebonyi State. The Army, the police, the Civil Defence and the DSS are doing marvellously well in Ebonyi State,” he said.
Lawmaker accuses Otu of mobilising protesters
Ogah also accused another critic of the state government, Charles Otu, of allegedly mobilising people from outside Ebonyi State to participate in a protest against the government in Abuja.
He claimed that some of those involved were presented as Ebonyians despite allegedly coming from other states.
Ogah said his lawyers had previously petitioned the DSS over allegations involving Otu and urged the agency to investigate the matter.
He also challenged Otu to substantiate allegations he allegedly made against him during an appearance on Arise Television.
“My own is that whosoever defaults the law, we take it legally. I cannot mention who I have not known. But when we get there, it is for the security agencies to investigate,” Ogah said.
Ogah lists Nwifuru’s achievements
Defending the Nwifuru administration, Ogah cited the state government’s scholarship programmes, school construction, road projects and other development initiatives as evidence of the governor’s performance.
He said hundreds of Ebonyi indigenes had benefited from postgraduate scholarships in Nigeria and abroad, while roads and schools were being constructed across the state’s 13 local government areas.
Ogah also praised Nwifuru for what he described as political tolerance, saying opposition parties had been allowed to operate freely in the state.
He argued that the people of Ebonyi should determine their political leadership through the ballot rather than through media campaigns and protests.
“Ebonyi people will choose who is their leader. They should stop using the media to castigate the governor,” he said.
Questions Nwifuru’s omission from Tinubu campaign council
The lawmaker also questioned the reported omission of Governor Nwifuru from President Tinubu’s campaign council, describing it as an error that should be corrected.
“How can a governor that has done much in APC not be included in the campaign council? How can a governor that is elected under the APC not be included?” Ogah queried.
He maintained that Nwifuru’s political influence and the APC’s electoral performance in Ebonyi made him an important stakeholder in Tinubu’s 2027 re-election campaign.
Ogah warned political actors against using the media to destabilise the state and urged all parties to pursue their grievances through legal and democratic channels.
The lawmaker, who is also the Ebonyi State Coordinator of the Tinubu Support Group (TSG), was accompanied by other members of the group at the press conference.
He reiterated his call for security agencies to investigate the various allegations raised and take appropriate action against anyone found to have violated the law.
The Federal Character Commission (FCC) has urged youths in Enugu State to disregard the belief that federal government jobs and other opportunities are already allocated before they are advertised.
FCC Executive Chairman, Hulayât Motunrayo Omidiran, gave the charge on Thursday at the International Conference Centre, Enugu, during the Peter Eze Enugu Youth Connect 2026.
Omidiran urged the youths to acquire relevant skills, embrace technology and actively pursue legitimate opportunities, stressing that federal character should promote both equity and merit.
She also warned against fraudulent recruitment schemes and advised applicants to authenticate employment opportunities before applying.
The Enugu State Deputy Governor, Ifeanyi Ossai, represented by the Secretary to the State Government, Prof. Chidiebere Onyia, challenged young people to prepare themselves for available opportunities.
Onyia said government could create opportunities, but individuals must develop the capacity to take advantage of them.
The FCC Commissioner representing Enugu State, Peter Ogbonna Eze, said the programme was designed to bridge the information gap preventing young people from accessing federal employment, scholarships, grants, fellowships and training opportunities.
Eze said many youths were discouraged from applying for federal jobs because of the misconception that such positions had already been shared among influential individuals.
He urged them to apply whenever legitimate opportunities were advertised, warning that nobody should pay money to secure a federal government job.
He also disclosed that five participants in the programme would be selected for a full scholarship opportunity.
Eze said the initiative would continue as a platform for connecting Enugu youths with credible opportunities and urged participants to become “ambassadors of opportunity” by sharing useful information with others.
The event brought together youths and stakeholders from across Enugu State to discuss federal representation, employment, education, skills development and other opportunities.
By Chinedu Sabastine
ENUGU — Umuchigbo Iji Nike Autonomous Community in Enugu East Local Government Area of Enugu State has fixed Sunday, September 13, 2026, for its annual New Yam Festival.
The cultural celebration, which is scheduled to commence at 3 p.m., is being organised under the leadership of the Executive Chairman of Umuchigbo, Hon. Chief Afam Joseph Ogbene, popularly known as Akirika Chioku 1, Na Nike Kingdom.
The festival is expected to showcase the rich cultural heritage and traditions of the people of Umuchigbo and Umuenwene in Iji Nike Autonomous Community, while promoting unity and communal bonding.
Ogbene, in an invitation to the festival, described the celebration as an opportunity for the people to preserve their cultural heritage, strengthen community ties and give thanks for the year’s harvest.
He said, “Our New Yam Festival is more than a cultural celebration. It is a time for us to come together as one people, appreciate our heritage and give thanks for the blessings of the year.”
According to him, the event will also provide an opportunity for sons and daughters of the community, as well as friends and well-wishers, to reconnect and celebrate together.
“We are inviting everyone to come and celebrate with us. It is a celebration of our culture, our community and thanksgiving for the new yam season,” he added.
According to the invitation, activities will commence at Ogbene’s residence on Akirika Chioku Avenue, Nome Ogba Aniji Road, Umuchigbo, before proceeding to Obodoeze Iji Village Square, Odangene, for the New Yam rites and masquerade display.
The event will also feature traditional cuisine, music and other forms of cultural entertainment.
The organisers urged sons and daughters of Umuchigbo, friends, well-wishers and members of the public to join the community in celebrating the festival.
-
Crime4 days agoMurder of Aiza Nwosu: Niece, 12 Suspected Cultists Arrested, Nephew at Large
-
News4 days agoAnambra Community Petitions Soludo Over Erosion Caused by Illegal Sand Mining
-
News4 days agoMajor Generals to Receive Up to ₦25.91m Yearly as Tinubu Approves New Military Pension Structure
-
Crime4 days agoAnambra Police Deny N600,000 Bribe Demand, Explain Arrest of Suspected Cultist’s Sister
-
Politics4 days ago2027: Former Deputy Governor Resigns From APC
-
Entertainment4 days agoDavido Reveals How Dangote Drove His Mother Home
-
News2 days agoFCC Urges Enugu Youths to Prepare for Federal Job Opportunities
-
Politics4 days agoAnambra APC Sidelined Over First Lady’s Visit, Says Chairman Anosike