latest
OIL SHOCK: Crude Prices Explode 5% to Hit $87 As Trump-Iran Tensions Boil Over!.
Global crude oil prices have climbed by 5% to reach $87 per barrel, up from $83, driven by escalating tensions between former U.S. President Donald Trump and Iran concerning the Strait of Hormuz.....KINDLY READ THE FULL STORY HERE▶
The Bank of America has cautioned that energy costs could experience further increases as winter approaches unless the dispute is resolved and standard shipping routes reopen. On CNBC, Francisco Blanch, Head of Commodities and Derivatives Research at Bank of America, noted that shipping traffic through the critical waterway has dropped significantly compared to the roughly 140 vessels that previously passed through daily, warning that prices could continue to trend upward without a settlement.
Impact on Nigeria’s Revenue
The price increase has pushed Brent crude—the benchmark for Nigeria’s Bonny Light and the OPEC Basket—to $87 per barrel.
With Nigeria’s 2026 budget pegged at a conservative oil benchmark of , the current pricing generates an excess revenue of $22.15 for every barrel produced.
Domestic Fuel Market Trends
Despite the international surge, Nigeria’s domestic fuel market has shown mixed movements across petroleum hubs:
-
Lagos Depots: Some facilities recorded slight reductions, with prices at the African Terminal and Aiteo dropping to ₦1,165 per litre, while NIPCO adjusted to ₦1,166 per litre. Major operators like Dangote and Pinnacle maintained steady rates at ₦1,166 per litre.
-
Higher Rates: Other facilities experienced elevated pricing, with GulfTreasure and Duport offering petrol at ₦1,550 per litre, and Rain Oil listing prices at ₦1,580 per litre.
These variations highlight ongoing fluctuations within the downstream sector based on location and operator logistics. Continued upward momentum in global crude benchmarks could place additional upward pressure on domestic pump prices moving forward.
latest
THE ULTIMATE CLEANSING: Deputy Senate President Shows Aide The Exit Door Over Alleged Disloyalty!
Termination of Appointment: The Deputy President of the Senate, Senator Barau I. Jibrin, has terminated the appointment of his Special Assistant, Rashida Adamu (popularly known as Rashida Mai Sa’a).....KINDLY READ THE FULL STORY HERE▶
-
Official Announcement: The decision was made public in a statement issued on Monday, September 28, 2026, by Shitu Madaki Kunchi, the media and public relations aide to the Deputy Senate President.
-
Preceding Dismissal: This follows the recent sacking of another aide, Umar Alhassan (King Indara), who was dismissed over a controversial social media post directed at Kano State Governor Abba Kabir Yusuf.
-
Allegations of Disloyalty: Rashida’s removal was triggered by accusations that she made inciting statements, engaged in activities aimed at undermining the All Progressives Congress (APC), and made disparaging remarks against Senator Barau.
-
Party Sabotage: The action aligns with a prior statement from Barau’s office alleging that certain ungrateful individuals who previously benefited from his support were working behind the scenes to sabotage his political interests and weaken the APC in Kano State.
-
Total Rejection of AI Plan: The Obidient Movement has strongly opposed INEC’s proposal to deploy Artificial Intelligence in the 2027 general elections, calling it an attempt to distract from fundamental transparency issues.....KINDLY READ THE FULL STORY HERE▶
-
-
Demands for Accountability: National Coordinator Yunusa Tanko argued that INEC must first resolve basic concerns regarding electoral transparency, result transmission, and the credibility of its processes before introducing new technologies.
-
Call for Transparency and Testing: The movement demanded that INEC publish its complete 2027 election blueprint, clearly explain the mechanics and safeguards of the proposed AI tools, and subject the technology to independent public scrutiny.
-
Warning to Leadership: Reminding the electoral commission that “the people’s mandate is not negotiable,” Tanko urged INEC Chairman Professor Josh Amupitan to reconsider the commission’s approach before it is too late.
-
latest
THE 2027 SHOWDOWN: Peter Obi Fires Brutal Warning Against Fake Manifestos, Vows True Change For Nigerians!.
-
Commitment to Reform: Nigeria Democratic Congress (NDC) presidential candidate Peter Obi has promised to unify the nation, tackle insecurity, and aggressively fight poverty, unemployment, hunger, and systemic hopelessness if elected in 2027.....KINDLY READ THE FULL STORY HERE▶
-
-
Sokoto Town Hall Engagement: Making the pledge in a social media post following a town hall meeting with residents of Sokoto State—preceded by a courtesy visit to the Sultan of Sokoto—Obi emphasized that his campaign strategy focuses on honest dialogue rather than empty rhetoric.
-
No More Deceptive Manifestos: Stressing that his message is clear of false hopes, Obi stated, “There will be no fake promises,” adding that addressing human insecurity and stabilizing the economy are vital to curbing criminality and building a safer society.
-
Slamming Transactional Politics: Obi strongly condemned vote-buying, noting that impoverished citizens are frequently trapped in a vicious cycle where the very political system that impoverishes them is repeatedly rewarded through compromised leadership.
-
-
latest1 year ago“Social Media Erupts As Jim Iyke Declares Rita Dominic Nollywood’s Most Beautiful”
-
latest3 years agoEdo Political Showdown: Oshiomhole Appears At Presidential Villa As Tinubu Hands APC Gubernatorial Flag To Okpebholo (Photos & Video)
-
entertainment3 years agoLove Knows No Age American Woman Defends Marriage To Young Nigerian Man “I’m Not 70”
-
latest3 years agoOlumide Akpata Strikes Again: Drops Killer Track, Sends Edo State Into Frenzy!(Video)
-
Politics3 years agoNigerians React As Pastor Adeboye Foresees Passing Away On A Sunday After Enjoying A Satisfying Meal Of Pounded Yam
-
latest2 years agoFG Identifies 31 States At Risk Of Heavy Flooding In 2024: See Full List
-
Politics3 years agoBREAKING: Inspector-General Of Police Summons Top Police Commanders For Crucial-Security Challenges
-
latest3 years ago5 NYSC Corpers Perish In Fatal Road Accident Returning From Camp