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Fuel pump price now N925/Litre As MRS, Others Hike Prices Nationwide
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Due to escalating global crude oil prices and deepening economic hardship, MRS Oil Nigeria Plc has increased the pump price of Premium Motor Spirit (PMS) to ₦925 per litre in Lagos, up from the previous ₦885.
This development comes as a fresh blow to Nigerians already burdened by high inflation, a weakening naira, and rising cost of living.
The revised price was officially announced on Saturday through the company’s verified 𝕏 (formerly Twitter) handle. MRS attributed the price hike to increased ex-depot rates, which have been driven by global market volatility and renewed geopolitical instability.
Regional Breakdown of New Petrol Prices
According to the newly released pricing framework:
Southwest States (Ogun, Oyo, Osun, Ondo, Ekiti): ₦935 per litre
Southeast and Northeast Regions: ₦955 per litre
Northwest and North Central Zones: ₦945 per litre
These figures reflect a sharp disparity across regions, influenced largely by transportation costs, insecurity in the North, and logistical complications.
Dangote Refinery Adjusts Ex-Depot Prices
MRS Oil is one of the key distributors of Dangote Refinery products. The price adjustment followed a move by the refinery to increase its ex-depot price from ₦825 to ₦880 per litre on Friday. Industry sources say this move triggered a ripple effect across the downstream sector.
Other marketers, including Heyden, AP, Rainoil, NIPCO, and Fynefield, are either expected to follow suit or have already made upward adjustments to their pump prices in response.
Industry-Wide Fuel Price Surge
According to data from Petroleumprice.com, these were the latest adjustments by major depot operators:
Rainoil: ₦850 → ₦900
Fynefield: ₦930
Mainland: ₦857 → ₦920
Sigmund: ₦920
Matrix (Warri): ₦910
NIPCO: ₦827 → ₦895
Aiteo: ₦840
Marketers warn that in Nigeria’s fully deregulated fuel market, fluctuations in international oil prices are directly reflected in local pricing a reality that increasingly leaves consumers vulnerable to market shocks.
Crude Oil Prices Surpass Budget Benchmark
Nigeria’s key crude grades Bonny Light, Brass River, and Qua Iboe rose sharply last week, with prices nearing $79 per barrel. The jump was largely influenced by rising tensions in the Middle East, particularly between Israel and Iran, which renewed fears of wider regional conflict and supply disruptions.
Bonny Light: $78.62
Brass River and Qua Iboe: Hovered just below $79
These figures exceed the 2025 budget benchmark of $75 per barrel, potentially offering short-term revenue gains for the government. However, they also translate to increased domestic fuel prices, compounding economic stress for everyday Nigerians.
News
ISWAP commanders reportedly clash, many feared dead
Some Islamic State West Africa Province, ISWAP, fighters in the Timbuktu Triangle, have reportedly been killed after rival commanders turned their weapons on each other over a disagreement on a planned attack.
A counter-terrorism expert, Zagazola Makama disclosed this in a post on X.
Zagazola said the clash occurred after a heated dispute between senior field commanders over the conduct of an operation that had been scheduled for the previous night.
He revealed that one of the commanders, identified simply as Abu Ali, reportedly refused to allow fighters under his control to participate in the planned attack.
Ali’s decision was said to have angered another senior commander, who accused him of deliberately frustrating the operation and questioned his loyalty to the group.
According to Zagazola, the dispute was not an isolated disagreement but the culmination of weeks of rising tension among commanders over operational decisions, dwindling resources and the management of logistics inside the enclave.
It was gathered that the refusal to approve the planned attack merely exposed deeper grievances that had been building within the organisation, with rival commanders increasingly competing for influence, manpower and control of supplies.
The Timbuktu Triangle has for years remained one of ISWAP’s principal operational bases, serving as a sanctuary for commanders, training camps and logistics hubs from where attacks are coordinated across parts of the Lake Chad Basin.
News
NSCDC Intercepts 45,000L Of Suspected Illegal Ethanol, Nabs Three In Akwa Ibom
The Nigeria Security and Civil Defence Corps (NSCDC), Akwa Ibom State Command, has arrested three suspects and impounded a tanker loaded with 45,000 litres of ethanol suspected to have been illegally acquired.
The State Commandant, Mrs. Geraldine Abetianbe, disclosed this while briefing journalists in Uyo.
She said the arrest and seizure were carried out on Tuesday at about 1:00 p.m. by operatives of the command acting on credible intelligence at Ikot Umo Essien, along Aba Road, in Essien Udim Local Government Area.
”On June 23, at about 1300hrs, our operatives acting on credible intelligence intercepted a petroleum tanker at Ikot Umo Essien, along Aba Road, in Essien Udim Local Government Area of Akwa Ibom State.
“The tanker, with a capacity of 45,000 litres, was laden with a product suspected to be ethanol acquired illegally.
“Three suspects were arrested at the scene in connection with the act,” Abetianbe said.
The commandant explained that the arrest of the suspects and seizure of the tanker were based on reasonable suspicion of the illegal acquisition and transportation of petroleum products in the state.
She said the suspects presented a waybill during interrogation, but the document immediately raised suspicion due to several discrepancies. She added that further investigations and inquiries to verify the authenticity of the declared point of loading yielded negative results.
“This confirmed our suspicion that the product was not sourced through legitimate channels.
“Through synergy, mutual respect, and timely information sharing, we recorded this success,” she said.
Abetianbe warned criminals against engaging in the illegal trade of petroleum products, describing such activities as not only criminal but also a form of economic sabotage that deprives the government of revenue, endangers lives through adulteration and explosions, and undermines national security.
She vowed that the NSCDC, as the lead agency responsible for the protection of critical national assets and infrastructure, would not relent in carrying out its mandate.
“We shall continue to go after vandals, illegal bunkerers, product adulterators, and all those who engage in diversion and illegal transportation of petroleum products,” she said.
News
Tension as ISIS releases video of top military grade weapons captured in Niger
A video allegedly released by the Islamic State, ISIS, following an attack on a Nigerien military base in Inates has surfaced online, allegedly showing a cache of military-grade weapons seized during the raid.
In a sighted video which has circulated on social media, appears to show heavy weapons, including artillery rockets, machine guns and anti-aircraft guns, reportedly captured from the military installation.
The footage was shared on Sunday by Bakatsine, a journalist known for reporting on conflict and insecurity in Nigeria’s North-West region.
The authenticity of the video and the exact quantity of weapons displayed have not been independently verified.
Bakatsine said that the development has raised fresh concerns over the growing capabilities of terrorist groups operating across the Sahel, where jihadist organisations have intensified attacks against military targets in recent years.
Security analysts have repeatedly warned that weapons captured during such attacks can significantly strengthen insurgent groups and fuel further instability across the region.
According to the report, although there is no evidence that the weapons shown in the video have been moved into Nigeria, experts have long warned that the porous border between Niger and northern Nigeria allows the movement of fighters, weapons and logistics.
Bakatsine warned that terrorist groups operating across the Sahel and the Lake Chad Basin are also known to maintain operational and logistical links, increasing concerns about the potential regional impact of such seizures.
The attack on the Inates military base underscores the persistent security challenges facing countries in the Sahel, including Niger, Mali and Burkina Faso, where extremist groups continue to target military installations.
The incident has renewed calls for stronger intelligence gathering, improved border security and closer regional cooperation to prevent terrorist groups from acquiring additional military hardware.
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