News
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.
News
Kara Bridge Repairs Cripple Lagos-Ibadan Expressway
Motorists endured hours of gridlock on the Lagos-Ibadan Expressway on Tuesday after the Federal Government began two-week repairs on damaged expansion joints at the Kara Bridge.
The rehabilitation, which started on September 8 and is scheduled to run until September 22, involves replacing worn-out expansion joints that had exceeded their service life and posed safety risks. Work is being done in phases: one half of the affected section is closed at a time while traffic is controlled on the remaining lanes.
Traffic built up in the afternoon and stretched from the Kara Bridge in Ogun State to the 7Up Junction and beyond into Lagos, including areas around Secretariat, Ojota, Ikeja and the Otedola underpass. Security and traffic officials from the police, military, Lagos State Traffic Management Authority, Federal Road Safety Corps and Ogun State Traffic Compliance and Enforcement Corps were deployed to manage the flow.
The Federal Ministry of Works said the intervention, directed by the Minister of Works, aims to improve road safety and preserve the bridge’s structural integrity. Authorities have advised motorists to plan journeys carefully, consider alternative routes where possible, and cooperate with traffic managers during the repair period.
News
Abia ranks top in BudgIT 2026 report
The BudgIT 2026 Report ranked Abia second in aggregate revenue growth, third in Internally Generated Revenue (IGR) growth, first in total expenditure growth, capital expenditure growth, and personnel expenditure growth
• Governor Otti
Abia state has emerged among the top-performing states in the 2026 BudgIT Report, covering 2017-2025.
The Abia State Commissioner for Information, Okey Kanu, who made the disclosure in Umuahia during a chat with newsmen, noted that the BudgIT 2026 Report ranked Abia second in aggregate revenue growth, third in Internally Generated Revenue (IGR) growth, first in total expenditure growth, capital expenditure growth, and personnel expenditure growth.
The commissioner said the performance reflected the administration’s prudent and strategic management of public resources.
“Abia State’s combination of revenue mobilisation, capital investment expansion, and administrative cost restraint points to a story of adroit and prudent management of resources,” said Kanu .
News
FG inaugurates Committee for nationwide activation of Nigeria’s unified 112 emergency number
Vice President Kashim Shettima, urged the committee to ensure its decisions were based on global best practices in order to develop a clear roadmap.
The Federal Government has set up a committee for the activation of the 112 national emergency number.
The committee comprises the Nigeria Police Force (NPF), Nigerian Communications Commission (NCC), National Emergency Management Agency (NEMA), Federal Road Safety Corps (FRSC) and other relevant agencies.
NEC had recently approved 112 as Nigeria’s single universal toll-free emergency number to replace fragmented and slow response lines, with a view to eliminating bureaucratic red tape and allowing citizens easy access to rapid assistance during fires, accidents, medical crises or security breaches.
Addressing stakeholders during the National Emergency Number 112 Project meeting , yesterday, Vice President Kashim Shettima, urged the committee to ensure its decisions were based on global best practices in order to develop a clear roadmap.
He charged the committee to finalise the roadmap and standard operating procedures for formal NEC endorsement,
Shettima stressed the need to make significant progress, assuring stakeholders that resources would be made available to fund the process once progress became visible.
“Let’s make progress so that whatever time we have spent here is worth spending. And most importantly, the engine is finance. It is resources to drive the process. And I want to assure you that we will get the resources,” the Vice President stated.
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