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.
….as FG starts two-week Kara Bridge repairs tomorrow
Motorists face severe traffic disruptions on the Lagos-Ibadan Expressway starting Tuesday as the Federal Government begins a two-week repair of the Kara Bridge.
The Federal Ministry of Works has scheduled the rehabilitation works to commence tomorrow, with the project expected to last 14 days. The repairs aim to address structural issues on the critical bridge, a major link for commuters and heavy-duty vehicles between Lagos and Ogun states.
Authorities have advised road users to explore alternative routes or adjust travel times to avoid prolonged delays during the construction period. Traffic management measures are expected to be put in place, though details on lane closures or diversions have yet to be fully released.
News
FG announces two-week traffic delays on Kara–Berger Bridge for repairs
The TRACE Acting Commander, Mr A. Ojerinde, stated that a multi-agency operation including TRACE, the Federal Road Safety Corps, FRSC, Lagos State Traffic Management Authority, LASTMA, and the Nigeria Police Force will be deployed along the corridor to enforce traffic control.
THE Federal Government has alerts motorists and commuters on the Lagos–Ibadan Expressway of possible travel delays, starting Tuesday September 8 for two weeks repair works on the Kara–Berger Bridge
The project, earlier slated to commence in August 2026, was suspended for traffic review following public outcry over short notice and the need for effective traffic management.
The two-week rehabilitation project, directed by the Minister of Works, Senator David Umahi, involves the replacement of deteriorating expansion joints to improve road safety, structural integrity, and long-term traffic flow on the busy corridor.
The project is expected to run through September 22, 2026.
The Ogun State Traffic Compliance and Enforcement Agency, TRACE, alongside the Federal Ministry of Works and key stakeholders, in a statement, warned motorists to prepare for lane restrictions, particularly during peak commuting hours.
The TRACE Acting Commander, Mr A. Ojerinde, stated that a multi-agency operation including TRACE, the Federal Road Safety Corps, FRSC, Lagos State Traffic Management Authority, LASTMA, and the Nigeria Police Force will be deployed along the corridor to enforce traffic control.
Ojerinde, who urged road users to plan ahead, said “Leave earlier than usual to accommodate expected travel delays.
A new documentary on the life and political struggle of the late Chief Moshood Kashimawo Olawale (MKO) Abiola is set to premiere in Nigerian cinemas in October.
Titled MKO, the 108-minute film is directed by Ose Oyamendan and produced with American documentary filmmaker Mark Jonathan Harris. It explores the annulment of the June 12, 1993, presidential election, widely regarded as free and fair, Abiola’s subsequent detention, and the controversial circumstances surrounding his death in custody in 1998.
The documentary features interviews with key figures including former military rulers Ibrahim Babangida and Abdulsalami Abubakar, former President Olusegun Obasanjo, Nobel laureate Wole Soyinka, Abiola’s running mate Baba Gana Kingibe, members of the Abiola family, journalists, and diplomats.
Oyamendan, who worked as a young journalist during the June 12 crisis, has described the film as an investigative documentary that examines Nigeria’s unfinished democratic journey. It had its world premiere earlier this year at the Sheffield DocFest in the United Kingdom.
The Nigerian cinema release is scheduled for early October, with some reports linking the premiere to Independence Day on October 1.
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