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Fuel Prices Set to Drop as Global Crude Prices Fall
The recent decline in global crude oil prices could lead to a reduction in the price of premium motor spirit (PMS) in Nigeria. The Major Energies Marketers Association of Nigeria (MEMAN) reported that the estimated import parity of petrol dropped to N922.65 per litre, down from N943.75 just a few days earlier.
MEMAN also highlighted that the price of Brent crude was priced at $78.29 per barrel, falling from $78.88 the day before, with the exchange rate standing at N1,550 per dollar. On Monday morning, the price of Brent crude was further reduced to $78.01 per barrel, marking a decline from over $81 the previous week.
This shift comes only a week after Dangote Refinery raised its ex-depot price by 6.17%, citing the rise in global crude prices as the reason. The price hike saw Dangote’s gantry price jump from N899.50 to N950 per litre, pushing petrol prices at partner filling stations to N970 per litre.
Industry experts have suggested that if crude prices continue to drop, local petrol prices could follow suit. A source noted that just as fuel prices surged with the increase in crude prices, a decrease could now trigger a similar reduction in local prices.
The CEO of the Centre for the Promotion of Private Enterprise also pointed out that with Donald Trump’s presidency potentially boosting crude oil supply, a further reduction in global oil prices is possible, which could lead to cheaper petrol in Nigeria.
With the current price of petrol ranging from N965 to N1,150 per litre, any continued dip in crude prices could force Nigerian refineries and marketers to lower their prices to remain competitive in the deregulated market.
News
Speaker Abbas Mourns the Passage of Sarkin Yakin Zazzau, Alhaji Rilwanu Yahaya
By Gloria Ikibah
The Speaker of the House of Representatives, Rep. Abbas Tajudeen, has expressed deep sorrow over the death of Alhaji Rilwanu Yahaya, the Sarkin Yakin Zazzau, who died on Thursday morning at the age of 63.
In a condolence message conveyed through his Special Adviser on Media and Publicity, Musa Abdullahi Krishi, Speaker Abbas described the late traditional leader as a dedicated community figure and a pillar of unity in the Zazzau Emirate.
He praised Alhaji Rilwanu Yahaya for his exemplary life and patriotic service, offering condolences to the Zazzau Emirate, the people, and the government of Kaduna State.
The Speaker prayed for Allah (SWT) to grant the deceased Jannatul Firdaus and to provide strength to his family in this difficult time.
Born in Unguwar Kaura, Zaria City, the late Sarkin Yakin Zazzau was a retired health officer with the Kaduna State Ministry of Health. He was a respected council member and kingmaker in the Zazzau Emirate Council, overseeing health-related matters and managing the Palace Health Clinic (Yero Health Clinic).
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BREAKING : Court Nullifies Gov Adeleke’s Executive Order on Owa of Igbajo, Declares Famodun as Authentic Monarch
By Kayode Sanni-Arewa
The State High Court in Ife has nullified Governor Ademola Adeleke’s executive order and white paper on the Owa of Igbajo stool. In a landmark ruling, the court affirmed Oba Famodun as the legitimate Owa of Igbajo, effectively overturning the government’s decision.
Details Later
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Trump’s administration stops foreign aids on HIV to Nigeria, other countries as experts react
By Kayode Sanni-Arewa
The Donald Trump administration has halted funding for HIV/AIDS programs in Nigeria and other developing countries, a move that has drawn widespread criticism from global health experts and activists.
This decision comes despite ongoing efforts to combat the disease in regions that heavily rely on international aid to sustain healthcare initiatives.
The decision affects the U.S. President’s Emergency Plan for AIDS Relief (PEPFAR), which has been a critical source of funding for HIV/AIDS treatment and prevention in Nigeria and other low-income nations.
Over the years, PEPFAR has supported millions of individuals with life-saving antiretroviral treatments, helping to curb the spread of the virus in some of the world’s most vulnerable communities.
Health experts fear this funding freeze could lead to devastating setbacks in the fight against HIV/AIDS.
Dr. Amina Ahmed, a Nigerian health policy expert, warned of severe consequences for patients who depend on subsidized medication.
“This decision will leave many Nigerians living with HIV without access to treatment. It threatens to reverse years of progress made in reducing HIV-related deaths and new infections,” Dr. Ahmed said.
The suspension could also disrupt prevention programs, including mother-to-child transmission initiatives, which have been pivotal in reducing the number of newborns born with the virus.
Critics argue that the decision reflects a lack of empathy for struggling nations. Dr. Michael Jones, a U.S.-based global health advocate, described the move as a “callous disregard for human lives.”
The Trump administration has defended the decision, citing budgetary constraints and a shift in focus toward domestic healthcare priorities.
However, advocates argue that cutting off aid to developing countries will have broader implications for global health security.
Nigeria, which has one of the highest HIV prevalence rates globally, could face dire consequences.
The National Agency for the Control of AIDS (NACA) estimates that over 1.9 million Nigerians are living with HIV.
Many of these individuals depend on PEPFAR-supported programs for their treatment and care.
The announcement has sparked calls for urgent action. Local NGOs and international organizations have begun lobbying for alternative funding sources to bridge the gap left by the U.S. withdrawal.
Advocacy groups are also urging the Nigerian government to increase its healthcare budget to reduce reliance on foreign aid.
The decision has drawn parallels to the global reaction following similar cuts during the early years of the AIDS epidemic.
Analysts warn that reducing funding for HIV/AIDS programs could lead to a resurgence of the disease, undermining decades of progress in public health.
As the global community reacts to this development, the focus remains on finding sustainable solutions to ensure that affected individuals continue receiving the care they need.
The Nigerian government and international stakeholders now face the challenge of mitigating the impact of this funding gap while maintaining momentum in the fight against HIV/AIDS.
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