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JUST IN: Petrol: Marketers Lamenting as Nigerians Shun Buying Above N1000/Litre
With the price of a litre of petrol now above ₦1,000 in most filling stations across Nigeria, petrol marketers have lamented low patronage at their retail outlets nationwide.
They said marketers are now cutting workers and shifts because of high pricing and low returns on investment.
The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, was in an interview on Monday with a spokesman for the Independent Petroleum Marketers Association of Nigeria (IPMAN),Ukadike Chinedu.
Gillis-Harry said, “Marketers, retail outlet owners, all of us in the industry are finding it difficult to cope with the current situation, we used to buy 45,000 litres of fuel a couple of months ago for less than 8.5 million naira but today, we have to cough out about 49 million naira to buy the product.
“Financial institutions are not coming to our rescue. The cost of money is so high, it is so difficult to even sell, what we get to our retail outlets is not quickly bought because Nigerians also have the challenge with their buying power.”
On his part, IPMAN spokesman Ukadike Chinedu said filling stations nationwide have become ghost places as middle-class Nigerians have abandoned their vehicles and embraced public transportation.
“Most of the money we use in investing is bank money. It’s being borrowed and the interest rate is also high. There is no return on investment because the more we sell, the more we make profits,” Chinedu said.
“Now the volume of trade in the filling stations is very low because of the characteristics of the buyers who have now dropped some of their luxury vehicles with V8 and are now using alternative transportation.
“If you check some of the filling stations these days, you will find out that there is skeletal or ghost buying, two, or three cars will just come in and buy. We are no longer talking about scarcity, we are now talking about price differentials.
”The two unions urged President Bola Tinubu to provide ₦100bn as a seed fund for oil marketers to stay afloat, just like the aviation and agricultural sectors.
Nigerians are grappling with the weight of unprecedented food inflation, and energy prices which have quadrupled in the last year under the Tinubu administration.
Specifically, the price per litre of petrol jumped from less than ₦200 to over ₦1,000. Many people have blamed the twin policies of petrol subsidy removal and unification of forex rates for the high living costs that have assailed the middle class.
Citizens have staged two major protests to drive home their grievances against the Tinubu administration and pressured the All Progressives Congress (APC) government to reverse its “reforms” but the current administration has insisted that its policies are necessary and won’t be reversed.
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US military strikes in Nigeria killed 155 Lakurawa terrorists -Report
Dando Sibu, a key Lakurawa commander, is reported to have survived the attack because he left the location less than five minutes before the second missile was fired.
Military strikes conducted by the US in December 2025 killed 155 Lakurawa terrorists in Sokoro, a report by The New Humanitarian has claimed.
The US focus was Lakurawa though the strikes didn’t touch other jihadist groups including Boko Haram, as well as the al-Qaeda-linked Ansaru.
The publication also claimed that the attacks left 200 additional Lakurawa fighters missing in the week following the operation.
The strikes, carried out in collaboration with Nigerian authorities, were believed to have involved Tomahawk missiles launched from a US destroyer positioned in the Gulf of Guinea.
The missiles targeted three districts in Sokoto State: Isa, Tangaza, and Tambuwal, though only Tangaza is widely recognised as a core area of Lakurawa.
It is believed that Tambuwal is not generally associated with organised armed violence; while Isa is a bandit stronghold largely controlled by Bello Turji.
Although details of the strike on Isa remain unclear, Turji is widely believed to have survived the attack.
A Lakurawa camp in Tangaza, however, reportedly suffered significant losses.
The New Humanitarian reports that there were two missile hits.
The first reportedly killed around 30 fighters. As surviving members converged to assess the damage and assist the wounded, a second missile struck, killing those who had gathered.
In total, an estimated 155 Lakurawa were killed, including 19 who were initially injured but later succumbed to their wounds.
Dando Sibu, a key Lakurawa commander, is reported to have survived the attack because he left the location less than five minutes before the second missile was fired.
However, in the week following the strikes, about 200 Lakurawa fighters were reported missing. The group was also said to have lost nearly half of its cattle, which is a major source of its revenue.
(The Sun)
News
Curfew, restriction for Akran of Badagry’s burial rites
Residents said the rites would affect social and commercial activities around the palace and may force many residents especially those working outside Badagry to return home early.
Following the death of the 89-year-old monarch, De Wheno Aholu Menu-Toyi I, the Akran of Badagry., restrictions have been imposed on vehicular movements around the palace vicinity with some sections of the road leading to the place barricaded.
Commuters were said to be directed to take alternative routes.
Sources said the traditional worshippers have started observing rites necessitated by the demise of the monarch.
Security and palace officials were seen restricting movement in the immediate vicinity.
Residents said the rites would affect social and commercial activities around the palace and may force many residents especially those working outside Badagry to return home early.
News
Akran of Badagry is dead, aged 89
The demise of the monarch marks the end of his 48-year reign on the throne, making him one of the longest-serving traditional rulers in Lagos State.
Photo: Akran of Badagry, De Wheno Aholu Menu-Toyi
The traditional ruler of the Badagry local government area in Lagos State, the Akran of Badagry, De Wheno Aholu Menu-Toyi, is dead, aged 89.
The demise of the monarch marks the end of his 48-year reign on the throne, making him one of the longest-serving traditional rulers in Lagos State.
According to the palace, the Akran was pronounced dead by medical experts, after a brief illness, and the traditional rites for his burial have gradually commenced.
Residents of Badagry, who are currently mourning the loss of their revered monarch, described his death as a heavy blow, noting that the town has lost not just a king but a father figure whose wisdom, counsel and presence brought reassurance in moments of uncertainty.
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