News
MAN says hike in petrol price inevitable
Segun Ajayi-Kadir, the Director – General of Manufacturers Association of Nigeria (MAN) says the increase in the domestic petrol pump price is inevitable.
” Right from the time fuel subsidy was either reduced or removed, it became inevitable that the price may rise. You will also note the sharp decline in the value of the Naira and the impact it is bound to have on the importation of fuel,” Ajayi-Kadir told journalists in Lagos, today.
He was reacting to the recent increase in price of petrol from ₦568 per litre to ₦855 per litre, being implemented across NNPC filling stations.
Ajayi-Kadir, said : “From what I can glean, the reasons for the increase are not far-fetched.
Globally, there is an increase in crude oil prices. Our refineries are not producing and we import fuel.
The increase in cost of crude oil will have direct impact on the cost of importing fuel into Nigeria and expectedly, the NNPC would at some point, adjust domestic prices.”
Impact on economy
So, in terms of what the impact might be and judging from what we have witnessed in the past, the cost of transportation may increase, and so would the prices of goods and services. As the cost of petrol rises, consumers will spend more on transportation and energy, leaving them with less disposable income.
This decrease in purchasing power may lead to reduced demand for non-essential goods and services, affecting businesses across various sectors.
These are pointers to the high possibility of a rise in inflation figures, impacting household budgets.
One is naturally worried about the impact on the already lackluster performance of the manufacturing sector. In particular, there is no doubt that it will add to production input and logistics costs. These will lead to higher prices and in the face of dwindling disposable income of the average Nigerian.
A further deep in consumer demand will see manufacturers’ unplanned inventory rising and reduction in capacity utilization.
Manufacturing performance would be negatively impacted. Businesses may need to adjust their pricing strategies, which could lead to reduced profit margins if consumer demand weakens. Small and medium-sized enterprises (SMEs), which often operate on thin margins, could be particularly hard-hit.
The increased costs could force some to scale down operations or even shut down if they are unable to pass on the additional costs to consumers.
News
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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