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Oil depots increase petrol price to N950/litre

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The loading cost of Premium Motor Spirit (petrol) and other refined petroleum products at the depots increased on Monday.

It was gathered that marketers raised petrol and diesel prices at depots by N43 or 4.74 per cent due to the rising crude oil prices.

Recall that the cost of Brent, the global benchmark for crude, reached $79.76 per barrel on Sunday.

This current situation indicates that filling stations nationwide may adjust their pump prices to reflect the higher costs of refined products.

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Data obtained while analysing petrol price movements at loading depots on Monday showed that Swift depot increased its loading price to N950 per litre from N907 last Friday.

Wosbab Depot increased its price to N950 from N909, while Sahara Depot made a similar change to N950 from the N910 it sold a litre of petrol last Friday.

Also, a private depot, Shellplux, increased its loading costs to N960 from N908. Chipet Depot asked retailers to pay N960 per litre to receive products. It sold at N908 per litre last week Friday.

Nipco Depot increased its price by N38 from N912 to N950 while the Matrix Warri Depot increased its cost from N925 per litre to N945.

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It was also gathered that marketers who picked products from the Dangote refinery and resell to other retailers increased their costs to N923 per litre despite picking products from the refinery at N899 per litre.

For diesel, some loading depot prices including Stockgap depot increased its price from N1,080 to N1,150. Ibeto Depot approved an increase from N1,050 to N1,150 per litre. Sahara Depot sold its product at N1,150 from N1,045 last week.

Nipco Depot increased its price to N1,150 from N1,120 while Optima Depot approved a N72 increase to N1,120 per litre from N1,048.

The average increase in depot prices for PMS stands at approximately 7-10 per cent while AGO prices have surged by 5-10 per cent, depending on the depot and location.

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Reacting in an earlier interview, an oil and gas expert, Olatide Jeremiah, said depots are poised to increase the loading price of refined petroleum products.

Jeremiah, who is the Chief Executive Officer of petroleumprice.ng, said, “It implies that there is a possibility of increased fuel prices, particularly diesel prices.

“As of Friday, when Brent crude neared $80, prices selectively increased in some depots in Lagos, and on Monday, prices might be jacked up by importers because a large chunk of oil marketers import petroleum products and Brent crude is a major determining factor in the refining process.”

Another marketer, Bayo Adelaja said, “Depot rates have escalated sharply, and this is directly affecting pump prices. Consumers should expect further fluctuations in the coming weeks,” he noted.

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With depot rates showing no signs of stabilising, the coming weeks may bring further adjustments, emphasising the need for long-term strategies to mitigate the impact on consumers and the economy.

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Traders Raise Alarm Over Circulation Of Counterfeit In Borno

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Traders at the Kwaya Kusar Grains Market, Kwaya Kusar Local Government Area (LGA) of Borno have raised an alarm over the circulation of counterfeit N1,000 notes in circulation.

A cross-section of the traders raised their concern in separate interviews with the News Agency of Nigeria(NAN) in Kwaya Kusar community on Saturday.

According to them, the issue is not limited to Kwaya Kusar market but cuts across other markets in Biu and Bayo LGAs, where they normally buy their commodities depending on their market days.

They said that the issue was affecting their businesses and sabotaging the economic activities at the markets, while eroding trust between traders and their customers.

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Malam Ibrahim Yusuf, a grain trader from Gombe main market who came to Kwaya Kusar market to buy maize, said he had been a victim of fake currency notes twice.

“About three weeks ago, I went to Biu grain market to buy some bags of maize, and I was given four pieces of fake N1,000 notes, and I didn’t realise until I was in transit.

“It was when I was about to pay the driver that I saw one new N1,000 note that was very light and felt unusual in my hand, and I suspected it was fake. ”

He said he immediately called the person who gave him the currency to complain after discovering three other pieces of such notes in the cash he withdrew.

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“My profit is not much, as I make between N3,000 and N4,000 per bag after taking out transportation cost.

“Now I bought three bags, meaning I am expecting roughly N12, 000 but now I have N4,000 counterfeit notes, which means my profit margin has been reduced, ” he said.

He said government and relevant authorities should visit the various markets in Biu, Kwaya Kusar and even Shani rural markets to mop up these counterfeit notes and find the source.

“This is highly imperative, especially now that farmers have started harvesting their produce, which will surely increase the volume of trade in the markets.

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“Urgent action from relevant agencies is necessary to protect traders from making huge losses,” Yusuf said.

Also speaking, Alhaji Hassan Mai-Dawa said he was once a victim of fake N1,000 notes, which he collected from one of the POS operators in Kwaya Kusar.

He said it was when he went to deposit the money in the bank that the notes were discovered to be fake.

Mai-Dawa said many of the traders don’t collect transfers, so he had to withdraw from POS to be able to buy his goods.

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“I think this is something the government should come in because I also faced similar issues in Biu market.

“Many traders do not know the difference; so, we use the fake note alongside the original ones,” he said.

Mrs Hauwa Aminu, a rice trader, said she often noticed some unusual new N1,000 notes inside her cash, but she never really bothered because people collect them from her.

Aminu recounted an incident where she almost fought with a buyer who needed a refund after depositing cash the previous day.

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“I gave him the cash I had, and he rejected some of the notes, but I insisted that I am not the one printing them.

“It was an intense argument, and since then, that buyer never came back to my shop to buy from me, ” she said.

Aminu, however, appealed to the government to send its officials to some of the rural markets to monitor and make necessary arrests to protect traders.

Others who spoke to NAN but did not want their names mentioned also lamented their ordeals because they could not identify the counterfeit notes from original ones.

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They called for massive sensitisation to enable local traders to identify counterfeit notes to protect their businesses.

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At 71, Nigerian Man Enrolls at UI Law School: Here Is Why He Did It

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Not resting on his oars, 71-year-old Dr. Bolaji Ojo-Oba has proven right the age-old axiom that age is not a barrier to learning. Recently, Dr. Ojo-Oba went viral across various social media platforms, especially on TikTok. A video shared by his daughter, Rihanot Ojo-Oba, showed the septuagenarian sitting in class alongside his fellow colleagues.

Earlier this year, he was among the 4,430 newly admitted students for the 2025/2026 academic session at the University of Ibadan. He was formally matriculated during the university’s official ceremony in March 2026.

Studying at an advanced age in Nigeria is a powerful testament to lifelong learning, defying cultural stereotypes and proving that the quest for knowledge has no expiration date. According to him, he returned back to study law because of his lifelong ambition goal and the impact of a prolonged legal battle during his tenure at the Nigeria Football Federation (NFF).

Dr. Ojo-Oba’s illustrious career spans several decades, during which he has demonstrated exceptional leadership, versatility, and expertise. Ojo-Oba, who hails from Ibadanland, was born on 7 January, 1955. Last year, he marked his 70th birthday anniversary amid pomp and ceremony.

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He obtained his first degree in French from the University of Lagos and earned a Master’s in the same discipline from the same university. He later earned his Master’s and Doctorate in Sports Administration from the University of Ibadan.

A cursory look at Ojo-Oba’s intimidating and enriching profile reveals a man who did not stumble on stardom by accident, but intricately sketched his way to the top. It was a hard climb, assisted by perseverance.

Ojo-Oba started his career in the civil service in 1989 as a Senior Bilingual Secretary of the NSC. He became the Head of NFA’s International Competitions Department from 1990 to 1992, before later becoming the Head of Department of Competitions from 1992 to 1995.

Ojo-Oba later became NFA’s Head of Marketing and Sponsorship Department in 1995, before becoming an officer in the Federal Ministry of Youth and Sports Planning till 1997. He later served as the Commissioner for Information, Youth, Sports and Culture in Oyo State from 1997 to 1999.

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Ojo-Oba later rose to the post of an Assistant Director in the Federal Ministry of Sports And Social Development from 2004 to 2005. He subsequently served as Secretary-General of the Nigeria Football Federation (NFF) from January 15, 2007 to July 26, 2010.

He was for many years a security chieftain for both the Confederation of African Football (CAF) and FIFA, which he served meritoriously. Throughout his career, Dr. Ojo-Oba has exhibited a commitment to excellence, serving in various capacities, especially as a member of the Fédération Internationale de Football Association (FIFA) Committees.

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British-Nigerian Businessman Dies After Penis Enlargement Procedure in Thailand

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A 43-year-old British-Nigerian businessman and social media influencer, Igho Ubiribo, has died after undergoing a penis enlargement procedure while on holiday in Thailand with his wife.

An inquest at Inner West London Coroners’ Court heard last month that Ubiribo died in March after receiving 40-millilitre injections of hyaluronic acid and lidocaine at a clinic in Bangkok.

According to the *Daily Mail*, Ubiribo began experiencing chest pain and lost consciousness twice while receiving a massage with his wife, Danielle Simba Allen, following the procedure.

He was rushed by ambulance to Sukhumvit Hospital, where doctors identified a pulmonary embolism—a blood clot blocking a vessel in the lungs. He lost consciousness again before a recommended CT scan could be performed.

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Medical staff attempted to resuscitate him for more than 100 minutes, but he was pronounced dead in the early hours of March 6.

A postmortem conducted in the UK revealed that cellular material found in Ubiribo’s lungs matched the hyaluronic acid used in the penile filler injection, confirming the diagnosis of a pulmonary embolism.

Coroner Jean Harkin concluded that Ubiribo died “as the result of a cosmetic procedure abroad,” recording the official cause of death as a pulmonary embolism resulting from the hyaluronic acid injection.

The *Daily Mail* reported that Ubiribo, who had approximately 185,000 Instagram followers, was laid to rest in London in May. His funeral was attended by Nigerian musician Davido and several other prominent figures.

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Medical professionals have long warned against penile filler procedures. Professor Vaibhav Modgil, an NHS andrology specialist and consultant urological surgeon, noted that such procedures carry severe risks and can lead to devastating consequences for patients.

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