News
Why Nigerians are yet to enjoy significant fuel price drop – Marketers
The Independent Petroleum Marketers Association of Nigeria has explained that the eventual renewal of the naira-for-crude deal between the Nigerian government, the Dangote Refinery and other refiners could not crash the price of Premium Motor Spirit because of the forces of demand and supply and depreciation in the foreign exchange rate.
The spokesperson of IPMAN, Chinedu Ukadike, disclosed this to newsmen in an interview on Tuesday.
Ukadike was commenting on why Nigerians did not see a drastic fuel price crash in the local market despite the downturn in global crude oil prices, which stood at $65 per barrel and $61 for Brent and WTI crude blends, respectively, on Tuesday morning, according to oilprice.com.
Global crude prices had dropped from around $67 before the emergence of United States of America President Donald Trump’s administration’s tariff war.
In the last few days, Trump and China had engaged in tit-for-tat over tariffs impacting global trade, including crude oil.
Similarly, the recent agreement on supply cuts by the Organisation of Petroleum Exporting Countries, OPEC+, had also triggered the downward slide of crude oil prices.
However, since Trump announced a global tariff pause except for China, there has been a noticeable respite in global crude prices.
Meanwhile, Nigerians have lamented that they are yet to feel the impact of the global crude price drop on local prices.
A resident of Abuja, Nurudeen Abdullahi, said that with the continuation of naira-for-crude and the price of crude in the international market, he expects local petrol to be no more than N850 per litre.
“To be fair with you, local petrol prices should be around N850 per litre or less following the current benchmark of crude oil prices, which stood around $65 per barrel, down from $72,” he said.
Another Nigerian, Evelyn Adebayo, expressed a similar view over expectations of the crash of local fuel prices.
“I believe refiners and marketers are not fair to Nigerians. If it were petrol price hike, they would have implemented it without hesitation.
“But I am surprised that local petrol prices did not drop in a commensurate level as crude prices in the international market,” she stated.
Dangote Refinery had announced a N10 reduction in its ex-depot price of petrol.
Its decision to reduce ex-depot petrol prices follows the commitment to continue the Naira-for-crude by the Nigerian government implementation committee.
Reacting, Ukadike exonerated marketers, insisting that the price of local petrol did not drop as expected because of forces of demand and supply.
He added that Nigeria’s foreign exchange rate, which stood at N1,604.48 per dollar at the official market as of Tuesday, may also be the reason local fuel prices did not crash.
“The forces of demand and supply in the downstream sector, and the cost of foreign exchange also determine the price of crude and its by-product, fuel.
“The current price of petrol is competitive and fair enough for Nigerians owing to the two factors of forces of demand and supply and FX rate,” he said.
Nigerians currently buy petrol for between N940 and N975 per litre in Abuja.
News
Sanwo-Olu swears in elected LG chairmen, vice chairmen
The state governor, Babajide Sanwo-Olu, swore in the officials at Lagos House, Ikeja, on Sunday.
The newly elected chairmen and vice chairmen of the 20 local government areas and 37 local development areas of Lagos State have been sworn in.
The state governor, Babajide Sanwo-Olu, swore in the officials at Lagos House, Ikeja, on Sunday.
The council chairmen and councillors emerged following the July 12, 2025, elections held in the state.
The state Commissioner for Local Government, Chieftaincy Affairs and Rural Development, Bolaji Robert, congratulated the council chairmen on their emergence.
He said: ” Your victories at the polls are a testament to your grassroots appeal and the confidence the people have reposed in you.
“The credibility of your emergence, anchored on transparency and broad-based support, is what has culminated in the swearing-in exercise we are gathered here to witness today,” he said.
Robert also commended Sanwo-Olu for promoting grassroots democracy, noting that his leadership ensured the implementation of all necessary measures for a peaceful, transparent, and credible local government election.
A building collapse occurred at Pentagon Lodge near the Alex Ekwueme Federal University, Ndufu-Alike, Ikwo, Ebonyi State on Friday.
Students witnessed the incident, with one student captured on video expressing concern over the lodge’s collapse, saying, “See my lodge is falling, all my properties are inside.
”A video clip of the incident, seen by Naija News House , showed the moment the three-storey building collapsed.
As of the time of filing this report, it was not clear whether there were causalities as details of the collapse are still emerging.
A student, also said that students in that particular lodge had earlier noticed the cracks on the walls and some had already moved out of the facility before the collapse.
“Only properties inside the building are likely those of students that traveled out of the town,” the source said.
Recently there were reports of building collapses in Ebonyi State, including a three-storey building under construction near the Alex Ekwueme Federal University Teaching Hospital.
In the construction building collapse, two persons were trapped and later rescued, with one labourer escaping due to stepping out to wash his hands before the collapse.
Sequel to the building collapses, the Ebonyi State government had established a special investigative committee to determine the causes of such incidents and prevent future occurrences.
The committee’s findings and recommendations aim to improve building standards and enforcement in the state.
Click here to Watch Video:
News
FG denies 12 Years Minimum Entry Age Into JSS1
Boriowo urged the public and education stakeholders to disregard any contrary claims.
The Federal Government has debunked a report claiming that the minimum age for admission into Junior Secondary School 1 (JSS1) has been raised to 12 years.
The Ministry of Education Director of Press, Folasade Boriowo, made this known via a statement issued on Friday, July 25, 2025.
Boriowo said the report was inaccurate, noting that it did not come from any official source and did not reflect government policy.Boriowo stated: “For the avoidance of doubt, the minimum age for admission into JSS1 remains 10 years.
“No child should complete primary education below the age of 10.”
Boriowo urged the public and education stakeholders to disregard any contrary claims.
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