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Queues At MRS As Marketers Increase Petrol Above ₦1,000 Per Litre
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The development followed a sharp surge in global crude oil prices above the $80 per barrel threshold earlier in the week.
Long queues are beginning to build up at MRS filling stations where Premium Motor Spirit (PMS) or petrol is sold below ₦1,000 per litre, as consumers hurry in search of cheaper products.
Market survey as of Saturday morning revealed that private car owners and commercial bus drivers are starting to form long lines at MRS stations, especially along the Ibadan/Lagos Expressway, for petrol currently sold at ₦937 per litre.
Other stations along the same axis, however, do not have as many queues as the MRS station at Alapere, as most have increased pump prices above ₦1,000.
While Eterna Plc has hiked price to ₦1,040, North West Capital Oil, and Fatgbems also adjusted their prices to ₦1,030 per litre, with Mobil Station’s a bit lower at ₦1,025 per litre.
Despite the rush for petrol, few stations, including the Nigerian National Petroleum Company (NNPC) Limited, have shut their gates against buyers.
The state oil company’s station at OPIC Estate remains shut as of 7:00 AM Saturday. It could not be ascertained whether the move was due to product shortages or otherwise.
Also, some of TotalEnergies stations along the Expressway were not selling product as of the time of filing this report, while others recorded just a few buyers lurking at their gates.
International Influence
The development followed a sharp surge in global crude oil prices above the $80 per barrel threshold earlier in the week.
Reports surfaced on Tuesday that Dangote Petroleum Refinery & Petrochemicals had increased the ex-depot price of petrol from ₦774 to ₦874 per litre, representing a ₦100 hike.
Dangote’s price hike was after an economist, Paul Alaje, on Monday, warned that petrol prices in Nigeria could climb to about ₦1,000 per litre if the ongoing conflict involving the United States, Israel, and Iran was not effectively managed.
Alaje, who is the Chief Economist at SPM Professionals, appeared on Channels Television’s Politics Today, against the backdrop of escalating geopolitical tensions in the Middle East.
According to him, increases in crude oil prices typically translate into higher costs for refined petroleum products such as petrol, diesel, and aviation fuel, with broad implications for businesses and households.
“While crude oil goes up, we all need to check the impact on our economy. The first thing you see is high inflation, because as crude oil goes up, the cost of PMS, diesel, and Jet-A1 will also follow.
“As that is going on, about nine per cent has already attracted more cost for PMS in Nigeria, and by the end of April, we project that if the war is not properly managed, it might get to ₦1,000 plus for PMS in Nigeria.
“If PMS is ₦1,000, you can imagine what diesel will be; you can imagine what flight tickets will be. It will affect the poor, the middle class, and, of course, the rich,” the economist said.
Oil Extends Gains As Iran Conflict Spreads
Oil prices shot up during the week as investors kept tabs on the Middle East as the United States and Israel continued to bombard Iran, while Tehran launched further strikes on neighbours.
The attacks on the Islamic state have upended regional energy flows, with the crucial Strait of Hormuz — through which about a fifth of global oil transits — effectively closed off. The conflicts have also fuelled fears of a fresh energy crisis that could ramp up inflation.
Market moves have been comparatively mild amid hopes that the crisis will be short-lived and not cause a major problem for the global economy.
But analysts warned that the longer it goes on, the more painful it would be on the global economy as supply chains are hit and prices surge.
Iran has responded by unleashing missiles and drones across the Middle East, including Lebanon, Saudi Arabia, Qatar, and Dubai, while explicitly threatening to drive up global energy costs.
That sent oil prices soaring nearly 14 per cent Monday before slightly easing, while European natural gas prices spiked almost 40 per cent after Qatar’s state-run energy firm said it had halted liquefied natural gas production.
Meanwhile, a general in Iran’s Revolutionary Guards threatened to “burn any ship” seeking to navigate the Strait of Hormuz.
“We will also attack oil pipelines and will not allow a single drop of oil to leave the region. Oil price will reach $200 in the coming days,” he warned.
Crude rose at least two percent on Tuesday, as analysts say the rise in energy costs could give most central bankers a headache as they look to bring down inflation while also cutting interest rates to support their economies.
The Nigeria Union of Journalists (NUJ) has described the victory of Jide Oyekunle, a journalist with Independent Newspaper, at the ECOWAS Community Court of Justice as a major victory for journalism and press freedom in Nigeria.
The union, in its reaction to the judgment awarding N10 million in damages against the Nigerian government over the violation of Oyekunle’s rights, said the ruling represents an important step towards protecting journalists and defending media freedom.
The NUJ in a statement signed by the National Secretary, Achike Chude on Wednesday commended the efforts of Avocats Sans Frontières France (ASF France) for providing legal support and standing with the journalist throughout the legal process.
It said the judgment serves as a reminder of the need for the protection of journalists who perform their constitutional duty of informing the public, adding that attacks and harassment against media practitioners must not go unchecked.
The union urged the Nigerian government to comply with the ECOWAS Court judgment by paying the N10 million damages awarded to Oyekunle without delay.
According to the NUJ, prompt compliance with the ruling would demonstrate respect for the rule of law and reinforce Nigeria’s commitment to upholding human rights and press freedom.
The union further called for stronger measures to guarantee the safety and independence of journalists across the country.
Signed
Comrade Achike Chude
National Secretary
President Tinubu Will Commission Roads 01 and 02 Linking Mabushi Bus Terminal and Ahmadu Bello Way Today
#FCTRenewedHope
#FCTProjectsCommissioning
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BEWARE: FG warns 26 States of flood, places, Bayelsa, Delta, Lagos, Adamawa, Benue, others as critical risk areas
The Federal Government has alerted residents of 26 states and the Federal Capital Territory (FCT) to the possibility of flooding between June 22 and July 5, 2026, following forecasts of heavy rainfall in different parts of the country.
The warning was issued by the Federal Ministry of Environment through the National Flood Early Warning Centre under its Erosion, Flood and Coastal Zone Management Department.
The ministry said several communities across the country have been identified as areas that could face serious flood threats during the period.
According to the forecast released on June 22, heavy rainfall is expected in many locations, raising concerns about possible flooding in vulnerable communities.
States placed under the critical-risk category include Abia, Adamawa, Akwa Ibom, Anambra, Bayelsa, Benue, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Imo, Kogi, Kwara, Lagos, Niger, Ogun, Ondo, Osun, Oyo and Rivers.
In Abia State, the affected communities include Aba, Arochukwu and Umuahia. In Adamawa, the ministry listed Jimeta and Numan, while Eket, Oron and Uyo were named in Akwa Ibom. In Anambra, Onitsha Inland Town and Awka Urban Drainage Corridors were identified as vulnerable locations.
Bayelsa communities such as Yenagoa, Brass and Nembe Town were also listed among areas that could be affected by flooding.
Other locations mentioned include Makurdi, Gboko and Katsina-Ala in Benue State; Calabar Metropolis and Creek Town in Cross River State; Asaba, Warri and Sapele in Delta State; and Abakaliki, Afikpo and Onueke in Ebonyi State.
The ministry also identified Benin City Urban Core and Auchi in Edo State, Ado-Ekiti and Ikere-Ekiti in Ekiti State, as well as Enugu, Nsukka and Oji River Town in Enugu State.
In Imo State, Owerri, Orlu and Okigwe were listed, while Lokoja and Ajaokuta were named in Kogi State. Communities such as Ilorin, Jebba and Pategi in Kwara State were also included in the warning.
Several parts of Lagos State were equally listed among the areas at risk.
These include Agege, Alimosho, Apapa, Badagry, Ikeja, Ikorodu, Lagos Island, Lekki and Surulere.
In Niger State, Bida, Minna, Mokwa, Suleja and Kontagora were identified, while Abeokuta, Ota and Sagamu were listed in Ogun State.
The flood alert further covered Akure, Owo and Okitipupa in Ondo State; Oshogbo, Ile-Ife and Ilesa in Osun State; Ibadan, Ogbomoso and Oyo in Oyo State; as well as Port Harcourt Urban Core, Bonny, Ahoada and Omoku in Rivers State.
Apart from the states under the critical-risk category, the ministry also placed parts of Adamawa, the FCT, Kebbi, Kogi, Nasarawa, Plateau and Taraba states under a high-risk category.
Communities listed in this group include Yola North, Yola South, Mubi and Gurin in Adamawa State; Abuja Municipal, Gwagwalada, Kubwa, Nyanya and Wuse in the FCT; Birnin Kebbi and Argungu in Kebbi State; Bako in Kogi State; and Keffi, Lafia, Karu and Toto in Nasarawa State.
The warning also covered Jos and Jos North in Plateau State, as well as Jalingo, Wukari, Takum, Serti and Karim Lamido in Taraba State.
NUJ Hails Oyekunle’s ECOWAS Court Victory, Says It Is a Win for Journalism, Press Freedom
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