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 Anambra state police command has arrested a suspect for allegedly impersonating, False Representation of Mr Linus Williams “BLord” and defrauding members of the public.
According to the charges of false representation using the name of Blood to defraud the public the 22 year old young man Hillary Tochukwu Enujekwu from Okpanam in Delta state is accused of committing the crime punishable under Section 386 of the Criminal Code , Cap 36 , Vol 2 Revised Law of Anambra state of Nigeria 1991.
However the Magistrate Court did not sit on this Friday and the accused was returned to the State Criminal Investigation Department Amawbia.
Speaking to reporters Mr Linus William aka Blord confirmed that the accused had been using a fake TikTok handle claiming that he is Blord adding that he is not active on TikTok and is yet to verify his TikTok.
“I am at the Magistrate Court Amawbia in respect of a matter that was brought to the Court over a young man that has been using my videos and my pictures to defraud the public for the past three years”
“He has been n notorious on TikTok and he has about 11 million likes on TikTok and about 870,000 or there about followers on TikTok”
“Meanwhile my original TikTok has about 150,000 followers with 1,5million likes but this young man has about 11.6 million and that is ten times of my profile and people take his profile as the real Blord profile and they have been transacting with him and defrauded more than 100 people millions of naira and dollars ”
“Many of them came to the station to write their statements and the young man has confessed and agreed to the crime and the family has been begging for us to know how to settle the matter”.
“We came to Court today but the Court did not sit and they are taking the boy back to Police custody State Criminal Investigation Department where he is being remanded”
William recalled that when the matter came up, he reported to the Police who took action and arrested boy and invited him over to come and see the suspect .
“We went through his phone and all the videos on his phone are my videos, the number that he has been using to defraud them and once you call that number his number will ring and he used it to defraud people running into millions, 1,000 dollars , 3,000 dollar’s 5 million at different scenario and people believe that I was the one that defrauded them”.
“When he defraud the victims he will tell them to come to the office and we have nine different branches of my office and when they come we tell them that it not Blord profile” he said.
William thanked the Police for a job well done addin that he is innocent of those allegations against him.
William further explained that his outfit is verifiable on Instagram adding that his TikTok is yet to be activated .
“The Blord is on Instagram and I have a verify Instagram and verified Facebook but am not on TikTok and I am working towards verifying myself on TikTok”
“For you to get a legitimate Blord, make sure that the profile is verified and and if you feel doubted, we have office in nine major Cities and one should be close to you and you can come to the office and do your transactions ” he said.
When contacted, the Police Public Relations Officer SP Tochukwu Ikenga said that the matter is before the Court of law hence cannot comment on it .
News
2027: Mandate Group Endorses ex Abia Speaker Chinedum Orji for Ikwuano/Umuahia Fed Constituency Seat
The Ikuku 2027 Mandate Group has endorsed former Speaker of the Abia State House of Assembly, Rt. Hon. Chinedum Enyinnaya Orji, as its preferred candidate to represent Ikwuano/Umuahia North/Umuahia South Federal Constituency in the House of Representatives in 2027.
In a statement titled, “Representation with Experience, Legislation with Results: The Ikwuano/Umuahia Compact for 2027,” the group said its position followed what it described as a careful assessment of aspirants seeking to represent the constituency.
According to the group, Orji stood out on the basis of his experience, capacity, character and record of public service, having previously served as Leader and Speaker of the Abia State House of Assembly.
The group said its support for the former Speaker was based on what it described as a desire to take tested legislative experience to the National Assembly.
“We are presenting Rt. Hon. Chinedum Enyinnaya Orji to represent our Federal Constituency in 2027. This is not a campaign of noise. It is a campaign of structure, law, and delivery,” the group stated.
It said Orji’s experience in presiding over legislative debates, passing budgets and exercising oversight over the executive would equip him to effectively represent the constituency in Abuja.
The group outlined security, economic relief, youth employment, education, healthcare, infrastructure, agriculture and transparency as key areas of its proposed legislative agenda for the constituency.
On security, it said Orji would support legislation aimed at strengthening community policing, local security architecture and federal intervention against kidnapping and violent crime across Ikwuano, Umuahia North and Umuahia South.
The group also said he would focus on legislation and oversight aimed at reducing the cost of doing business, improving access to credit for small and medium-scale enterprises and protecting households through scrutiny of policies affecting fuel and electricity costs.
On youth development, the group said the proposed agenda would seek to connect young people in the constituency to federal employment, entrepreneurship and skills-development programmes, including initiatives of the National Directorate of Employment and the Bank of Industry.
It added that education and healthcare would also feature prominently, with plans to advocate increased intervention in schools, expand access to scholarships and bursaries, and pursue improvements in primary healthcare and federal health infrastructure across the three local government areas.
The Ikuku 2027 Mandate Group further said Orji would use legislative engagement, budgetary advocacy and oversight to pursue federal road, electrification and water projects in the constituency.
“A legislator does not build a road, but he fights for it in the budget and monitors it,” the group stated, adding that quarterly reports on approved projects and their implementation would form part of its proposed accountability framework.
On agriculture, the group said the agenda would focus on policies supporting agro-processing, storage facilities, access to agricultural grants and improved market access for farmers, particularly in Ikwuano.
It also promised an open and accessible representation model, including annual scorecards, town-hall meetings across the three LGAs and a public tracker for constituency interventions.
The group said women, persons with disabilities and other underrepresented groups would also feature in its inclusion agenda, alongside support for women-owned businesses and girls’ education.
It further argued that the constituency deserved stronger federal presence, including more intervention programmes, training centres, agencies and infrastructure projects.
According to the group, its 2027 campaign would be built around ward-level engagement, policy town halls and what it described as data-driven voter outreach.
“Sloganeering gets attention. Campaigning gets results. And with Chinedum, you get both,” it stated.
The group described the proposed agenda as a “compact” with the people of Ikwuano/Umuahia North/Umuahia South, built around legislation, effective oversight, accessible representation and transparency.
“This is our contract with you: Legislation that protects. Oversight that delivers. Representation that is accessible. In 2027, vote for experience that has led, and leadership that will legislate,” the group stated.
It adopted the campaign message: “Ikwuano/Umuahia First. Experience That Works.”
The statement reads in full
REPRESENTATION WITH EXPERIENCE, LEGISLATION WITH RESULTS: The Ikwuano/Umuahia Compact for 2027″
BY IKUKU 2027 MANDATE GROUP
1. THE VERDICT AFTER SCRUTINY
After a careful examination and scrutiny of all those aspiring to represent Ikwuano/Umuahia North/Umuahia South Federal Constituency, and after weighing verifiable empirical indices of service, capacity, and character, one name stands clearly above the rest: Rt Hon Chinedum Enyinnaya Orji. He stands out as the most suitable because he has distinguished himself as a man of independent mind, tested experience, natural charisma, loyal followership, and above all, a human heart that beats for the people. In a race where many talk, he has a record to show.
2. THE MANDATE
We are presenting Rt Hon Chinedum Enyinnaya Orji to represent our Federal Constituency in 2027. This is not a campaign of noise. It is a campaign of structure, law, and delivery. Having served as Leader and Speaker at the subnational level, he understands how to turn the voice of the people into laws that actually work.
3. WHY EXPERIENCE MATTERS
As former Leader and Speaker, Chinedum presided over debates, passed budgets, and held the executive to account. That is the experience we are taking to Abuja: the skill to draft bills, build consensus across party lines, and ensure our constituency is not just present, but influential in the National Assembly.
4. SECURITY OF LIVES AND PROPERTY
For us, the first duty is safety. Chinedum will sponsor and support legislation to strengthen community policing, support local security architecture, and increase federal intervention against kidnapping and violent crime across Ikwuano and the two Umuahia LGAs. A safe constituency is a productive constituency.
5. THE ECONOMY AND COST OF LIVING
Food, transport, and power costs are biting our people. His focus will be on laws that reduce the cost of doing business for our traders in Umuahia markets, support SMEs with access to credit, and protect households through oversight of fuel subsidy reforms and electricity tariff structures. We are legislating relief, not just talking about it.
6. JOBS, YOUTH AND SKILLS
Youth unemployment is not a slogan to Chinedum. It is a policy problem. He will push for a Federal Constituency Skills and Entrepreneurship Act to link our young people to NDE, BOI, and digital job programs. Internships, vocational centers, and startup support will be tracked quarterly and reported back to the people.
7. EDUCATION AS A FOUNDATION
From primary schools in Ikwuano to tertiary access in Umuahia, education must work. He will advocate for increased UBEC and TETFund releases to our schools, sponsor bills for STEM (Science , Technology, Engineering, Mathematics) and vocational education, and establish a transparent constituency scholarship and bursary scheme tied to merit and need.
8. HEALTHCARE THAT REACHES YOU
Our PHCs must have drugs, staff, and power. Chinedum will use legislative oversight to ensure NHIA ( National Health Insurance Authority) enrollment drives reach our wards, push for constituency health bills, and lobby for federal health infrastructure upgrades in our three LGAs. No mother should die giving life.
9. POWER AND INFRASTRUCTURE THROUGH LAW
A legislator does not build a road, but he fights for it in the budget and monitors it. Chinedum will lobby for the inclusion of key Ikwuano-Umuahia roads, rural electrification, and water projects in federal budgets, and he will publish quarterly reports on what was approved and what was delivered. Oversight is his promise.
10. AGRICULTURE AND MARKET ACCESS
Ikwuano’s farmland and Umuahia’s markets are economic engines. He will support legislation for agro-processing, storage facilities, and easier access to federal agricultural grants. We will connect farmers to markets and reduce post-harvest losses through policy, not promises.
11. GOOD GOVERNANCE AND TRANSPARENCY
Having been Speaker, Chinedum knows how budgets are padded and projects disappear. He will run an open office: annual scorecards, town halls in all three LGAs, and a public tracker for all constituency interventions. The people must see where the money goes.
12. WOMEN AND INCLUSION
Legislation must reflect everyone. He will champion bills that support women in business, protect girls’ education, and ensure 35% inclusion of women and PWDs in constituency appointments and programs. Representation without inclusion is incomplete.
13. FEDERAL PRESENCE FOR OUR CONSTITUENCY
We deserve more federal projects and institutions. Chinedum will use his legislative relationships to attract agencies, training centers, and intervention programs to Ikwuano/Umuahia North/Umuahia South. Our size and capital city status must translate to federal advantage.
14. CAMPAIGNS, NOT JUST SLOGANS
Let’s be clear: electioneering is more than chants. This campaign will be built on ward-to-ward engagement, policy town halls, and data-driven voter outreach. Yes, we will have a message you can remember. But behind every slogan will be a bill number, a budget line, and a plan. Sloganeering gets attention. Campaigning gets results. And with Chinedum, you get both.
15. THE COMPACT
This is our contract with you: Legislation that protects. Oversight that delivers. Representation that is accessible. In 2027, vote for experience that has led, and leadership that will legislate.
“Ikwuano/Umuahia First. Experience That Works.”
Hon. Alex Mascot Ikwechegh, Member representing Aba North/Aba South Federal Constituency, has commended President Bola Ahmed Tinubu for what he described as “responsive leadership” following the Federal Government’s decision to accelerate implementation of the 2026 budget.
Speaking on Magic FM, Aba, on Thursday, Ikwechegh said the renewed push to release funds to Ministries, Departments and Agencies demonstrated that the President listens to the legislature.
“Mr. President has shown he is a listening President who has the interest of the nation at heart. He did not see our concerns as opposition. He saw them as part of our job to ensure Nigerians get value for money,” the lawmaker stated.
Ikwechegh had earlier drawn national attention after raising a motion on the floor of the House over delays in budget releases despite appropriations passed by the National Assembly. The intervention sparked debate among lawmakers over the slow pace of capital project execution.
The Federal Government has since announced measures to fast-track releases under the 2026 Appropriation Act, which provides for an aggregate expenditure of ₦68.32 trillion, with ₦32.2 trillion earmarked for capital expenditure.
According to Ikwechegh, legislative oversight is most effective when it produces concrete results.
“Our job is to speak firmly when policies are not working, and to also acknowledge when government takes corrective action. That is how the executive and legislature serve the people together,” he said.
The Abia lawmaker stressed that the real test of the budget lies in delivery — completed roads, functional hospitals, jobs for youths, and improved services across constituencies.
He expressed optimism that with improved coordination between the National Assembly and the Presidency, Nigerians will increasingly begin to feel the impact of the 2026 budget as implementation gathers momentum.
Costa Rica’s Rebeca Grynspan was the front-runner after last month’s first informal vote, in which the council’s 15 members, including the five with veto power, pass judgment in secret on the candidates.
Argentina’s Rafael Grossi — the current head of the UN nuclear watchdog — is also a candidate along with Chile’s Michelle Bachelet, Ecuador’s Maria Fernanda Espinosa, Guyana’s Carolyn Rodrigues-Birkett, Uganda’s Olara Otunnu and Senegal’s Macky Sall.
After the first round concluded, Ecuador’s Ivonne A-Baki threw her hat into the race to succeed Antonio Guterres, who will complete his second five-year term on December 31, 2026.
“While the first straw poll set the scene for the Secretary-General race, the second may give us some direction about where it is headed,” said the International Crisis Group’s Daniel Forti.
“Diplomats expect fluctuations in the vote distribution compared to the July poll. Most will be watching to see whether the early front-runners consolidate their support or slip in the standings.
“It is unlikely that any candidate will emerge from (Friday’s) poll with a decisive lead.”
Forti said the veto-wielding nations — Britain, China, France, Russia and the United States — might wait until later to express their preferences, while new contenders could emerge.
Russia’s ambassador to the UN, Vassily Nebenzia, said Thursday he could not rule out that possibility.
“If, for example — I’m speculating now — if there is a deadlock on any of the candidates we are seeing today, if nobody… flies, then I think that we may see other candidates as well,” Nebenzia said.
Even if a candidate earns the required nine votes from the 15 available in the Security Council, they must also avoid a veto by the five major powers, which are deeply divided.
Once a candidate clears those bars, their name will go to the General Assembly of all UN members for confirmation.
The Security Council straw poll was devised in the early 1980s in an attempt to break a deadlock between two candidates shut down by vetoes.
The informal mechanism has persisted, in various forms, despite criticism from countries opposed to the opaque process.
“There is a good chance that some nominees realise after (Friday’s) vote that their campaigns have reached the end of the road,” Forti added.
Each member state must anonymously assign each candidate one of three labels: “encourage,” “discourage,” or “no opinion.”
That would give those with no support the opportunity to withdraw — though they are not obliged.
In the first rounds of the process expected to take several weeks, all ballots are the same colour.
But after an unspecified number of votes, the ballots of the five permanent members will become a different colour from those of the elected members, making it possible to identify potential vetoes, without knowing which country blackballed any given candidate.
It is tradition that the UN’s top job should rotate between different regions.
Under that premise, the role should go to a candidate from Latin America this time. There are many candidates from the region, though Sall and Otunnu hail from Africa.
The civilian-contracted plane crashed at the airport of the long-range radar site in Cape Newenham, on the state’s southwestern tip, the Alaskan Command said in a statement.
Rescuers who landed near the crash site “confirmed there were no survivors,” it said.
The statement did not say what those onboard were doing at the radar site, which tracks aircraft operating in Alaskan airspace.
“This is a devastating loss for our military family and the communities we serve,” said Alaskan Command chief Robert Davis.
“These individuals were dedicated professionals carrying out a vital mission in a demanding environment,” Lieutenant General Davis added.
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