News
Subsidy: Fuel price to hit N720/litre, marketers suspend imports
Oil marketers, on Sunday, indicated that the cost of Premium Motor Spirit, popularly called petrol, would rise to between N680/litre and N720/litre in the coming weeks should the dollar continue to trade from N910 to N950 at the parallel market.
They also hinted that dealers seeking to import PMS were being forced to put the plans on hold due to the scarcity of foreign exchange to import the commodity.
The warning came barely one week after the local currency crossed the N900/dollar ceiling, with the naira selling at over 945/dollar at the parallel market on Friday.
Oil dealers said the CBN Importers and Exporters official window for foreign exchange, which boast of a lower exchange rate of about $740/litre, had remained illiquid and unable to provide the $25m to $30m required for the importation of PMS by dealers.
This, they said, had led to the suspension petrol importation by dealers who were initially eager to import the commodity.
Operators said that the only marketer, Emadeb, who imported the commodity recently, was now finding it tough to recoup its investment due to the depreciation of the naira.
Senior officials of major oil dealers in separate interviews on Sunday, said PMS price hike was imminent unless the local currency appreciates in the coming weeks.
Leaders of the Major Oil Marketers Association of Nigeria of Nigeria, Independent Petroleum Marketers Association of Nigeria, and Petroleum Products Retail Outlets Owners Association of Nigeria said there was a need for the Federal Government to intervene to address the crisis.
The National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, Chief Chinedu Ukadike, explained that the price of petrol was now driven by the fluctuations in forex, hence Nigerians should expect a hike soon.
Asked whether oil marketers were considering an increase in petrol price, he replied, “Once there is a slack in the naira against the dollar, there is going to be an effect. The demand and supply of forex is a key factor. We should also understand that it is not only petroleum products that use forex.
“Other manufacturers who import one thing or the other are also searching for dollars. So, the surge for dollars has continued to increase. So now that the dollar is hitting N910 to N940, and approaching N1,000, you should expect to buy PMS at the rate of N750/litre.
“It is simple mathematics, once the dollar is going up, have it in mind that the prices of petroleum products would definitely increase because the products are dollar-driven.”
Ukadike stated that oil marketers were still sourcing dollars from the parallel market, as the CBN’s Importers and Exporters official window was illiquid.
“Nigerians should brace for a price regime of between N680 to N720 if the exchange rate stays around N910 to N950/$, but the price is going to hit N750 once the dollar rises to N1,000.
“This is because marketers still source dollars from the parallel market, and not only marketers but virtually all importers in Nigeria. There is no subsidy any more on petroleum products, so you expect the cost to fluctuate with the dollars,” he stated.
The IPMAN PRO also stated that the Nigerian National Petroleum Company Limited was still the major importer of petrol into Nigeria, though another importer, Emadeb, imported the commodity recently.
“NNPC is still the major importer for now. One other company, Emadeb, imported products recently, but because this product is being sold in naira, getting back their funds is another issue since the naira keeps depreciating, while PMS imports is in dollars.
“This is why it is often difficult to go back and buy again as an independent importer. That is the problem we are facing,” Ukadike stated.
On when Nigerians would start seeing the price increase, he said, “NNPC is like the sole distributor of petroleum products now, so once you see a change in the price of petrol at their outlets, then other marketers will implement it.”
By Chinedu Sabastine
ENUGU — Tension is mounting in Umuchigbo Iji Nike Autonomous Community in Enugu East Local Government Area of Enugu State as hundreds of indigenes have rejected the alleged appointment of a traditional ruler, insisting that only a transparent election can produce their Igwe.
The residents, who gathered at the community square on weekend, declared that the autonomous community has no recognised traditional ruler and appealed to Governor Peter Mbah to direct the Ministry of Chieftaincy Affairs to conduct an election in line with the community’s constitution.
The protest followed reports that Jude Agu had been presented as the community’s traditional ruler, a move the indigenes described as unconstitutional and capable of causing unrest.
The protesters also cited a subsisting interlocutory injunction of the Enugu State High Court restraining Jude Agu from parading himself as Igwe or Igwe-elect of the community pending the determination of the substantive suit.
The order, delivered on July 25, 2025, by Justice A.A. Onovo in a suit No E/491/2023 filed by Chief Maurice Nonyelum Ekete against Jude Agu and Hon. Kenneth Mbah, directed all parties to maintain the status quo until the case is determined.
The indigenes argued that recognising any monarch without an election amounted to disregarding both the community’s constitution and a valid court order.
Addressing journalists, community elder Chief Gabriel Okoh accused former Town Union Chairman, Hon. Kenneth Mbah, of frustrating an earlier election process.
“Umuchigbo people are against imposition. All we want is election. If Jude Agu wants to be Igwe, he should come to the village square and contest like every other aspirant,” he said.
Youth leader Anthony Ikechukwu Anike warned that imposing a monarch without the consent of the people could trigger avoidable tension.
“The matter is still in court, yet we are hearing that someone has received a staff of office. We will pursue every legal means to protect our rights. The government should come and conduct a transparent election,” he said.
Speaking on behalf of other aspirants, retired Permanent Secretary Chief Maurice Nonyelum Ekete said the community’s constitution clearly prescribes election as the only legitimate process for selecting an Igwe.
“Our demand is simple. Let the Ministry of Chieftaincy Affairs conduct an election as it has done in other communities. Whoever wins should become the Igwe. We are not against anybody; we are against imposition. We are not against anybody becoming Igwe. We are only saying that whoever wants the throne should submit to a transparent election.” Chief Ekete said.
Other aspirants, Chief Joseph Iloka and Chief Josephat Ezeoha, also backed the call for a transparent election, insisting that the people should be allowed to freely choose their traditional ruler.
As of the time of filing this report, efforts to obtain the reaction of the Enugu State Ministry of Chieftaincy Affairs were unsuccessful.
Umuchigbo community rejects ‘appointed’ monarch, insists on election
By Chinedu Adonu
ENUGU — Tension is mounting in Umuchigbo Iji Nike Autonomous Community in Enugu East Local Government Area of Enugu State as hundreds of indigenes have rejected the alleged appointment of a traditional ruler, insisting that only a transparent election can produce their Igwe.
The residents, who gathered at the community square on weekend, declared that the autonomous community has no recognised traditional ruler and appealed to Governor Peter Mbah to direct the Ministry of Chieftaincy Affairs to conduct an election in line with the community’s constitution.
The protest followed reports that Jude Agu had been presented as the community’s traditional ruler, a move the indigenes described as unconstitutional and capable of causing unrest.
The protesters also cited a subsisting interlocutory injunction of the Enugu State High Court restraining Jude Agu from parading himself as Igwe or Igwe-elect of the community pending the determination of the substantive suit.
The order, delivered on July 25, 2025, by Justice A.A. Onovo in a suit No E/491/2023 filed by Chief Maurice Nonyelum Ekete against Jude Agu and Hon. Kenneth Mbah, directed all parties to maintain the status quo until the case is determined.
The indigenes argued that recognising any monarch without an election amounted to disregarding both the community’s constitution and a valid court order.
Addressing journalists, community elder Chief Gabriel Okoh accused former Town Union Chairman, Hon. Kenneth Mbah, of frustrating an earlier election process.
“Umuchigbo people are against imposition. All we want is election. If Jude Agu wants to be Igwe, he should come to the village square and contest like every other aspirant,” he said.
Youth leader Anthony Ikechukwu Anike warned that imposing a monarch without the consent of the people could trigger avoidable tension.
“The matter is still in court, yet we are hearing that someone has received a staff of office. We will pursue every legal means to protect our rights. The government should come and conduct a transparent election,” he said.
Speaking on behalf of other aspirants, retired Permanent Secretary Chief Maurice Nonyelum Ekete said the community’s constitution clearly prescribes election as the only legitimate process for selecting an Igwe.
“Our demand is simple. Let the Ministry of Chieftaincy Affairs conduct an election as it has done in other communities. Whoever wins should become the Igwe. We are not against anybody; we are against imposition. We are not against anybody becoming Igwe. We are only saying that whoever wants the throne should submit to a transparent election.” Chief Ekete said.
Other aspirants, Chief Joseph Iloka and Chief Josephat Ezeoha, also backed the call for a transparent election, insisting that the people should be allowed to freely choose their traditional ruler.
As of the time of filing this report, efforts to obtain the reaction of the Enugu State Ministry of Chieftaincy Affairs were unsuccessful.
Umuchigbo community rejects ‘appointed’ monarch, insists on election
By Chinedu Adonu
ENUGU — Tension is mounting in Umuchigbo Iji Nike Autonomous Community in Enugu East Local Government Area of Enugu State as hundreds of indigenes have rejected the alleged appointment of a traditional ruler, insisting that only a transparent election can produce their Igwe.
The residents, who gathered at the community square on weekend, declared that the autonomous community has no recognised traditional ruler and appealed to Governor Peter Mbah to direct the Ministry of Chieftaincy Affairs to conduct an election in line with the community’s constitution.
The protest followed reports that Jude Agu had been presented as the community’s traditional ruler, a move the indigenes described as unconstitutional and capable of causing unrest.
The protesters also cited a subsisting interlocutory injunction of the Enugu State High Court restraining Jude Agu from parading himself as Igwe or Igwe-elect of the community pending the determination of the substantive suit.
The order, delivered on July 25, 2025, by Justice A.A. Onovo in a suit No E/491/2023 filed by Chief Maurice Nonyelum Ekete against Jude Agu and Hon. Kenneth Mbah, directed all parties to maintain the status quo until the case is determined.
The indigenes argued that recognising any monarch without an election amounted to disregarding both the community’s constitution and a valid court order.
Addressing journalists, community elder Chief Gabriel Okoh accused former Town Union Chairman, Hon. Kenneth Mbah, of frustrating an earlier election process.
“Umuchigbo people are against imposition. All we want is election. If Jude Agu wants to be Igwe, he should come to the village square and contest like every other aspirant,” he said.
Youth leader Anthony Ikechukwu Anike warned that imposing a monarch without the consent of the people could trigger avoidable tension.
“The matter is still in court, yet we are hearing that someone has received a staff of office. We will pursue every legal means to protect our rights. The government should come and conduct a transparent election,” he said.
Speaking on behalf of other aspirants, retired Permanent Secretary Chief Maurice Nonyelum Ekete said the community’s constitution clearly prescribes election as the only legitimate process for selecting an Igwe.
“Our demand is simple. Let the Ministry of Chieftaincy Affairs conduct an election as it has done in other communities. Whoever wins should become the Igwe. We are not against anybody; we are against imposition. We are not against anybody becoming Igwe. We are only saying that whoever wants the throne should submit to a transparent election.” Chief Ekete said.
Other aspirants, Chief Joseph Iloka and Chief Josephat Ezeoha, also backed the call for a transparent election, insisting that the people should be allowed to freely choose their traditional ruler.
As of the time of filing this report, efforts to obtain the reaction of the Enugu State Ministry of Chieftaincy Affairs were unsuccessful.
News
The Great Recalibration: How President Bola Ahmed Tinubu Is Restructuring Nigeria for a Stronger Tomorrow
By RT HON
CHINEDUM ENYINNAYA ORJI
“You cannot build a house for tomorrow on the weak foundation of yesterday. We must lay new blocks, even when the rain is falling.”— Adapted from President Bola Ahmed Tinubu
Three years into his presidency, President Bola Ahmed Tinubu has embarked on what may be the most deliberate economic and governance recalibration Nigeria has seen in a generation.
He came into office on May 29, 2023 with a clear declaration: “Fuel subsidy is gone.” In that single sentence, he signaled that the era of deferring hard choices had ended.
Restructuring, at its core, is about rearranging the house so it can stand longer and serve more people. For Nigeria, that meant confronting distortions that had weakened public finances, scared investors, and made planning impossible.
The first pillar of this restructuring is fiscal discipline. By removing the costly petrol subsidy and cutting electricity subsidies, the administration stopped the bleeding of trillions of naira that once vanished into opaque payments.
The results are already visible in the numbers. The fiscal deficit narrowed from 5.4 percent of GDP in 2023 to approximately 3 percent in 2024, while federation revenue rose from ₦16.8 trillion to ₦31.9 trillion.
That new revenue is not sitting idle. It is being channeled into roads, rails, power, and social programs that touch ordinary citizens directly. More than 2,700 kilometers of roads are under construction or rehabilitation nationwide.
The second pillar is monetary credibility. The unification of exchange rates and clearing of a $4 billion FX backlog restored confidence in the naira and in Nigeria’s commitment to market-based policies.
That credibility has produced tangible dividends. The stock market surged nearly fivefold to a record 250,000 points, market capitalization grew, and international rating agency Fitch upgraded Nigeria from B- to B in April 2025.
Foreign investors, who had stayed on the sidelines, are returning. New oil and gas investments are being announced, domestic refining capacity is rising, and fuel imports are falling, easing pressure on our foreign exchange.
The third pillar is sectoral transformation. Recognizing that oil alone cannot carry Nigeria’s future, President Tinubu approved a Presidential Petroleum Reform and Value Optimisation Taskforce to design the next phase of structural reforms in that sector.
The Taskforce is not another talking shop. It is a time-bound technical body charged with delivering execution-ready blueprints to unlock capital, improve transparency, and position Nigeria as a leading global energy investment destination.
Beyond oil, the February 2026 launch of the Nigeria Industrial Policy marks a decisive shift toward manufacturing, value addition, and job creation. The goal is a $1 trillion economy in five years, driven by inclusive and decentralized growth.
This is restructuring with a human face. Through NELFUND, millions of Nigerian students now have access to loans to stay in school. The CNG program is reducing transport costs and easing the burden of subsidy removal on households.
Governance itself is being rewired. The Renewed Hope Ward Development Plan is mapping economic potential across all 8,809 wards, ensuring that planning starts from the grassroots and moves upward to the state and federal levels.
Such decentralization matters. When wards have data, they have a voice. When local governments have more resources, service delivery improves. That is how accountability becomes real, not theoretical.
On security, the administration has intensified operations against banditry, insurgency, and criminal gangs. The link is clear: no investor builds factories where there is no peace, and no farmer feeds the nation where there is no safety.
A good example is the renewed engagement with Ogoni communities. By addressing historical grievances, the government is creating the conditions to restart oil exploration in a way that benefits both the people and the treasury.
Critics are right to point out the hardship. The cost-of-living squeeze has been severe, and inflation remains a challenge. But restructuring is not magic. It is medicine, and medicine often tastes bitter before it heals.
What distinguishes this moment is political will. Previous administrations discussed these reforms for decades. President Tinubu chose to act in the first week, knowing the political cost, because the economic cost of delay was higher.
The international community has noticed. The World Bank’s April 2026 Nigeria Development Update and the IMF’s 2025 Article IV Consultation both acknowledge significant progress in restoring macroeconomic stability.
More importantly, Nigerians are beginning to see the logic. A stable currency means businesses can plan. More revenue to states means more projects in communities. More transparency means fewer excuses.
The central test ahead is jobs. With 3.5 million Nigerians entering the labor force each year, the restructuring must now translate into employment-intensive growth. The industrial policy and infrastructure push are designed for exactly that.
This is not about one man or one party. It is about laying a foundation that no future government can afford to ignore. Institutions, rules, and incentives are being reset.
History will judge this period not by the pain of the transition, but by whether we used the pain to build something durable. The early signs suggest we are.
President Tinubu’s restructuring is far from complete, but it has already changed the trajectory. Nigeria is no longer drifting. It is recalibrating, with purpose, toward a future where our resources work for our people, and where governance finally matches our potential.
RT HON
Chinedum Enyinnaya orji
APC House of Representatives Candidate for Ikwuano Umuahia Fed. Constituency writes from Amaokwe Ugba Ibeku, Abia State.
The Federal Road Safety Corps (FRSC) has announced the demise of its Enugu State Sector Commander, Corps Commander Franklin O Agbakoba.
This is contained in a statement issued by FRSC Deputy Corps Commander in-charge of Enugu State Operations, DCC Kyrian C Okolo, on Friday in Enugu.
“FRSC Enugu State Sector Command received the sad news of the demise of CC Franklin Agbakoba on Thursday, July 30,2026.
“The late Sector Commander died at Niger Foundation Hospital, Enugu where he was receiving treatment.
“His corpse have been deposited at the Eastern Medical Center, Enugu,” he said.
Until his death,CC Franklin Agbakoba made inter-agency collaboration and partnership his legacy and promoted safer roads within Enugu State.
The family’s head, Imo Aguiyi-Ironsi, made the demand during an interview with Arise News on Thursday.
“I think the family needs apology. The family needs to be compensated. We need sincere apology. We need sincere reconciliation,” he said.
He described his uncle as a visionary leader who was wrongly punished for a coup he had no role in.
“He was a man of vision. He was a detribalized Nigerian. He was a good leader,” he said.
Imo Aguiyi-Ironsi noted that his uncle’s tenure as Head of State was brief and ended violently.
“He occupied the seat of head of state for only six months, and he was taken away from us.
“Not because of a sin he committed, because he wasn’t part of the January 1966 coup.”
According to him, Aguiyi-Ironsi’s death resulted from his position rather than any wrongdoing on his part.
“Only because of his position as the most senior military officer, he was told to take charge. And then that cost him his life,” he said.
He expressed hope that his appeal would reach those with the power to act on it.
“Well, I hope there are people who are in positions to make this happen that are listening to you tonight,” he said.
Aguiyi-Ironsi served as Nigeria’s Head of State from January 16 to July 29, 1966, taking charge in the aftermath of the January 15, 1966 coup that had claimed the lives of the country’s political leadership.
He survived that coup and helped crush the mutiny, but his later decision to centralise power under Decree 34, along with his failure to prosecute the plotters, fuelled resentment among northern officers.
He was killed on July 29, 1966, alongside his host, Lieutenant Colonel Adekunle Fajuyi, in a mutiny by northern soldiers that became known as the July counter-coup
The directive was contained in a memorandum dated July 13, 2026, and signed by the Chief Registrar of the Supreme Court, Kabir Akanbi.
Addressed to litigation staff, legal practitioners, court registrars and lawyers, the circular said the order took immediate effect and formed part of efforts to uphold professional standards within the apex court.
The memorandum read, “I am directed by the Honourable the Chief Justice of Nigeria to notify all Litigation Staff, Legal Practitioners, Court Registrars, and Lawyers that the use of the title ‘Barrister’ as a prefix to names is inappropriate and inconsistent with the standards of professionalism expected within the Supreme Court of Nigeria.”
It further directed all affected officers to immediately stop using the title in official correspondence and other official materials.
The memo stated, “Consequently, all officers concerned are hereby directed to discontinue the use of the title ‘Barrister’ before their names in all official correspondence, records, documents, identity materials, and any other official engagements with immediate effect.”
The memorandum added, “Heads of Departments and Unit Heads are requested to ensure strict compliance with this directive by all officers under their supervision. Please be guided accordingly.”
The directive comes weeks after the Council of Legal Education cautioned prospective lawyers against wearing wigs and gowns or presenting themselves as qualified legal practitioners before they are formally called to the Nigerian Bar.
The council said such conduct undermined the dignity of the legal profession and warned that violators could face disciplinary measures.
It also reminded candidates that the use of legal regalia is governed by the Rules of Professional Conduct and is reserved for duly qualified legal practitioners
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