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JUST IN: Petrol: Marketers Lamenting as Nigerians Shun Buying Above N1000/Litre

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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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Jonathan visits Tinubu in Aso Rock

Jonathan’s latest visit comes months after his last known appearance at the State House in November 2025, shortly after his evacuation from Guinea-Bissau amid a political crisis.

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PRESIDENT Bola Tinubu on Wednesday received former President Goodluck Jonathan at the Presidential Villa, Abuja, in what officials described as part of ongoing high-level consultations on regional and continental issues.

The meeting, which was held behind closed doors at the State House, began at about 4 pm.

Sources familiar with the engagement indicated that the interaction aligns with a pattern of periodic consultations between both leaders, particularly on political developments in West Africa and Nigeria’s broader diplomatic and continental engagements..

Images from the meeting showed both leaders in a relaxed setting, engaged in conversation inside the President’s office.

Jonathan’s latest visit comes months after his last known appearance at the State House in November 2025, shortly after his evacuation from Guinea-Bissau amid a political crisis.

The former president had been leading a West African Elders Forum election observation mission when soldiers loyal to Brigadier-General Dinis Incanha reportedly staged a coup, detaining incumbent President Umaro Sissoco Embaló ahead of the official announcement of the November 23 presidential election results.

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Nigeria’s Ambassador to Algeria, Mohammed Lele, dies at 50

Born in Gamawa, Bauchi State, in 1976, Lele studied Economics at Bayero University Kano. During his diplomatic career, he served in Nigeria’s missions in Berlin, Lomé and Riyadh.

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Nigeria’s ambassador-designate to Algeria, Mohammed Mahmud Lele, has died at the age of 50.

Lele was buried in Kano on Wednesday in accordance with Islamic rites.

His death was confirmed on Wednesday by the Ministry of Foreign Affairs in a statement issued in Abuja by its spokesperson, Kimiebi Ebienfa.

According to the ministry, Lele died in the early hours of April 19, 2026, in Ankara, Türkiye, following a prolonged illness.

The ministry described his death as a significant loss, noting that he was a seasoned diplomat who served Nigeria with dedication and professionalism.

Before his nomination as ambassador-designate to Algeria, Lele was the Director in charge of the Middle East and Gulf Division at the ministry.

Born in Gamawa, Bauchi State, in 1976, Lele studied Economics at Bayero University Kano. During his diplomatic career, he served in Nigeria’s missions in Berlin, Lomé and Riyadh.

The Permanent Secretary of the ministry, Dunoma Umar Ahmed, who received his remains at the Nnamdi Azikiwe International Airport, described him as a diligent and humble officer whose contributions would not be forgotten.

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Adelabu Submits Resignation Letter to SGF, Recommends Creation of Coordinating Minister for Energy

In a resignation letter dated April 22, 2026, and addressed to President Bola Ahmed Tinubu, Adelabu stated that his resignation will take effect on April 30, 2026, to enable him to focus on his governorship ambition in Oyo State.

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Photo: Chief Bayo Adelabu, and SGF George Akume

The Minister of Power, Chief Adebayo Adelabu, has formally tendered his resignation and proposed the establishment of a Coordinating Minister for Energy to drive integrated reforms across Nigeria’s power, gas, and related sectors.

In a resignation letter dated April 22, 2026, and addressed to President Bola Ahmed Tinubu, Adelabu stated that his resignation will take effect on April 30, 2026, to enable him to focus on his governorship ambition in Oyo State.

He, however, emphasised that sustaining and consolidating the gains recorded in the power sector requires stronger coordination at the highest level, including the appointment of a central authority to harmonise policy direction and execution.

Confirming the development, the Special Adviser to the Minister on Strategic Communications and Media Relations, Bolaji Tunji, said the Minister expressed deep appreciation to the President for the opportunity to serve, describing his tenure as a privilege to contribute to national development.

Adelabu noted that his decision aligns with the provisions of the Amended Electoral Act 2026, which precludes serving political office holders from contesting elections.

He further disclosed that his gubernatorial aspiration dates back to 2016 during his tenure as Deputy Governor of the Central Bank of Nigeria.

In his three-page letter, the Minister outlined key achievements recorded during his tenure, including the implementation of the Electricity Act 2023, which decentralised the electricity market and improved the investment climate.

He highlighted that peak power generation rose to over 6,000 megawatts, driven by the integration of the Zungeru Hydropower Plant and the rehabilitation of thermal power plants. Transmission capacity was also strengthened through grid upgrades under the Presidential Power Initiative.

He further cited notable improvements in the distribution segment, including enhanced regulatory oversight, improved revenue collection, and progress in reducing Aggregate Technical, Commercial and Collection (ATC&C) losses.

Efforts to close the metering gap, he added, gained momentum through the Presidential Metering Initiative and the World Bank-supported Distribution Sector Recovery Programme (DISREP).

On the financial front, Adelabu stated that tariff reforms and a ₦4 trillion debt restructuring programme increased market revenues from ₦1 trillion in 2023 to ₦2.3 trillion in 2025, restoring investor confidence and placing the sector on a path to sustainability.

Despite these gains, the Minister acknowledged persistent challenges, including gas supply constraints, infrastructure vandalism, and the need for full commercialisation of the electricity value chain.

He therefore proposed key measures to sustain progress, including the implementation of cost-reflective tariffs with targeted subsidies, recapitalisation of distribution companies, accelerated nationwide metering, sustained transmission investments, and strengthened regulatory enforcement.

Central to his recommendations is the creation of a Coordinating Minister for Energy to provide strategic oversight and ensure synergy across power, gas, water resources, and environmental sectors.

According to him, this approach is critical to improving gas supply for thermal generation, optimising hydroelectric resources, and accelerating renewable energy deployment.

Tunji added that Adelabu remains committed to ensuring a smooth and seamless handover process, while expressing gratitude to the President for the confidence and support extended to him throughout his tenure.

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