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Why Nigerians are yet to enjoy significant fuel price drop – Marketers

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The Independent Petroleum Marketers Association of Nigeria has explained that the eventual renewal of the naira-for-crude deal between the Nigerian government, the Dangote Refinery and other refiners could not crash the price of Premium Motor Spirit because of the forces of demand and supply and depreciation in the foreign exchange rate.

The spokesperson of IPMAN, Chinedu Ukadike, disclosed this to newsmen in an interview on Tuesday.

Ukadike was commenting on why Nigerians did not see a drastic fuel price crash in the local market despite the downturn in global crude oil prices, which stood at $65 per barrel and $61 for Brent and WTI crude blends, respectively, on Tuesday morning, according to oilprice.com.

Global crude prices had dropped from around $67 before the emergence of United States of America President Donald Trump’s administration’s tariff war.

In the last few days, Trump and China had engaged in tit-for-tat over tariffs impacting global trade, including crude oil.

Similarly, the recent agreement on supply cuts by the Organisation of Petroleum Exporting Countries, OPEC+, had also triggered the downward slide of crude oil prices.

However, since Trump announced a global tariff pause except for China, there has been a noticeable respite in global crude prices.

Meanwhile, Nigerians have lamented that they are yet to feel the impact of the global crude price drop on local prices.

A resident of Abuja, Nurudeen Abdullahi, said that with the continuation of naira-for-crude and the price of crude in the international market, he expects local petrol to be no more than N850 per litre.

“To be fair with you, local petrol prices should be around N850 per litre or less following the current benchmark of crude oil prices, which stood around $65 per barrel, down from $72,” he said.

Another Nigerian, Evelyn Adebayo, expressed a similar view over expectations of the crash of local fuel prices.

“I believe refiners and marketers are not fair to Nigerians. If it were petrol price hike, they would have implemented it without hesitation.

“But I am surprised that local petrol prices did not drop in a commensurate level as crude prices in the international market,” she stated.

Dangote Refinery had announced a N10 reduction in its ex-depot price of petrol.

Its decision to reduce ex-depot petrol prices follows the commitment to continue the Naira-for-crude by the Nigerian government implementation committee.

Reacting, Ukadike exonerated marketers, insisting that the price of local petrol did not drop as expected because of forces of demand and supply.

He added that Nigeria’s foreign exchange rate, which stood at N1,604.48 per dollar at the official market as of Tuesday, may also be the reason local fuel prices did not crash.

“The forces of demand and supply in the downstream sector, and the cost of foreign exchange also determine the price of crude and its by-product, fuel.

“The current price of petrol is competitive and fair enough for Nigerians owing to the two factors of forces of demand and supply and FX rate,” he said.

Nigerians currently buy petrol for between N940 and N975 per litre in Abuja.

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Christian Chukwu’s Burial Photos

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• by Ohibaba.com

The funeral procession

Governor Peter Mbah made a speech

Peter Obi , other dignitaries with Chukwu’s family

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Mbah, Obi, Bid Farewell to Christian Chukwu

Consoling the family, Governor Mbah said, “As a government, we will always stand by you and ensure that Chukwu is immortalised, for indeed he served and loved Enugu and Nigeria with all his heart.

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Image credit: Peter Obi / X

A 10- days night of tributes in Lagos and Enugu for the former Super Eagles captain and head coach -Christian Chukwu, ended today with his burial at his country home, Obe, in the Nkanu West Local Government Area of Enugu State.

Chukwu, popularly called “Chairman”, died on April 12, at the age of 74.

Dignitaries at the burial were former Labour Party presidential candidate Mr Peter Obi., President of the Nigeria Football Federation (NFF) Alhaji Ibrahim Gusau, represented by the Chairman of the Nigeria National League, Mr George Aluo, and Senator representing Anambra Central, Sen. Victor Umeh.

Others are members of the Enugu Executive Council, the retired Anglican Archbishop of the Enugu Diocese, Rt. Rev. Emmanuel Chukwuma, ex-Rangers players, the former Chairman of the Enugu Sports Club, Chief Nnanna Atuonwu, and others.

Governor Peter Mbah of Enugu State said at the event: “For me, and I believe for so many as well, it is difficult for you to have met Chairman without being inspired by his simplicity and humility.

“Without a doubt, he was disciplined, dignified, polite, and empathetic,” Mbah said.

Consoling the family, Governor Mbah said, “As a government, we will always stand by you and ensure that Chukwu is immortalised, for indeed he served and loved Enugu and Nigeria with all his heart.

Let us be comforted by the remarkable memory and legacies he left behind,” he added.

Earlier in his homily, the Anglican Bishop of Enugu Diocese, Rt Rev. Samuel Ike, extolled Chukwu’s exploits, contributions and development to football in Nigeria and Africa.

He described him as a “strong man” that led his team on a journey and fought and won several battles, as well as a committed family man that loved his family and relations.

“Chukwu has won battles with Rangers, Super Eagles and others. The Lord has been gracious unto him through several battles; he was an all-rounded man, very generous, and his generosity extended to the family of St Philip’s Church, Obe,” Ike said.

In response on behalf of the family, Mr Chukwuemeka Chukwu Jr thanked the guests for honouring and paying their last respects to his father.

Chukwu was born in Enugu and is widely regarded as one of Nigeria’s greatest defenders of all time.Chukwu, revered for his leadership and defensive mastery, captained both Enugu Rangers and the Nigerian national team, leading the country to its first Africa Cup of Nations title in 1980.

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Nigeria’s Military Capture top Ansaru, Mahmuda terrorist group leaders

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The National Security Adviser, Nuhu Ribadu, declared today Nigeria’s security forces capture two top leaders of Jama’atu Ansarul Muslimina fi-Biladis Sudan, an Al-Qaeda affiliate in Nigeria, following a months-long counter-terrorism operation.

Ribadu, at a press briefing held at the Office of the National Security Adviser in Abuja, said that those arrested are Mahmud Muhammad Usman, also known as Abu Bara’a, Abbas or Mukhtar, identified as the self-styled Emir of Ansaru, and his deputy, Mahmud al-Nigeri, also known as Mallam Mamuda.

Ribadu said the intelligence-led operation was carried out between May and July 2025 in collaboration with security and intelligence agencies.

According to Ribadu, Abu Bara coordinated terrorist sleeper cells across Nigeria and masterminded high-profile kidnappings and armed robberies to finance terrorism.

He added that his deputy, Mamuda, led the “Mahmudawa” cell around Kainji National Park and trained in Libya between 2013 and 2015 under foreign jihadist instructors.

Ribadu said, “The targeted operation, which was conducted between May and July 2025, led to the capture of two top ANSARU leaders who have been responsible for masterminding several terrorist attacks against Nigeria over the past years.

The first is Mahmud Muhammad Usman (aka Abu Bara’a/Abbas/Mukhtar), the self-styled Emir of ANSARU.

He is the coordinator of various terrorist sleeper cells across Nigeria. He is also the mastermind of several high-profile kidnappings and armed robberies used to finance terrorism over the years.“

The second is Mahmud al-Nigeri (aka Mallam Mamuda), Abu Bara’s proclaimed Chief of Staff and Deputy.

He is the leader of the so-called “Mahmudawa” cell hiding out in and around the Kainji National Park, straddling Niger and Kwara States up to the Benin Republic.

Mamuda trained in Libya between 2013 and 2015 under foreign jihadist instructors from Egypt, Tunisia, and Algeria, specialising in weapons handling and IED fabrication.

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