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BREAKING: Nigeria increases Petrol price to N151.56 per litre

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6 years ago

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ABUJA-The Petroleum Products Marketing Company (PPMC) has increased the ex-depot price of Premium Motor Spirit, also known as petrol, to N151.56 per litre from N138.62 per litre.

The PPMC is a subsidiary of the state-owned Nigerian National Petroleum Corporation, NNPC, and currently imports almost all of Nigeria’s petrol.

According to an internal memo made available to marketers and other stakeholders, the new directive becomes effective September 2.

“Please be informed that a new product price adjustment has been effected on our payment platform,” the memo said.

“To this end, the price of Premium Motor Spirit is now one hundred and fifty one naira, fifty-six kobo (N151.56) per litre.”

The ex-depot price is the price at which the product is sold to marketers at the depots.

The memo was signed by D.O Abalaka, the depot manager.

Lamenting the increase, a depot owner stated that his depot would not sell for less than N155.60 to marketers and other filling stations.

“To buy each litre, you pay draft of N2 on each litre, you pay union dues, and of course you have to make a profit,” the depot owner said on Wednesday, asking not to be named as he had no permission of his union to speak to journalists.

-Premium Times

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President Tinubu nominates Taxman Taiwo Oyedele as minister of state for finance

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1 week ago

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March 5, 2026

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President Bola Ahmed Tinubu has nominated the arrowhead of the nations new tax reforms, Mr Taiwo Oyedele as the next minister of state for finance, replacing Dr Doris Uzoka-Anite.
Uzoka-Anite will now move to the Ministry of Budget and National Planning, as the Minister of State, her third portfolio in the administration.

President Bola Tinubu and Mr. Taiwo Oyedele during his nomination on Wednesday.

President Tinubu has today conveyed the nomination of Oyedele to the Senate for confirmation in a letter to the Senate President, Godswill Akpabio.
Until President Tinubu nominated him as a minister, Oyedele from Ikaram, Akoko, Ondo State, was the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.
Oyedele, 50, is an economist, accountant and public policy expert.
He attended Yaba College of Technology, where he obtained a Higher National Diploma (HND) in accountancy and finance. He attended Oxford Brookes University and earned a BSc in applied accounting.
He also completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.
Oyedele spent 22 years of his working career at PwC, joining in 2001 and rising to become the Fiscal Policy Partner and Africa Tax Leader.
Oyedele is also a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.
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Nigeria deploys 5 man delegation to the US for Rev Jesse Jackson’s Burial

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1 week ago

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March 5, 2026

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Nigeria’s President, Bola Ahmed Tinubu has sent a five-person delegation to represent him and the country at the final burial rites of Rev. Jesse Jackson, the American civil rights leader, activist and former presidential candidate.
Jackson passed away at age 84 on February 17, 2026, in Chicago.
Senator George Akume, Secretary to the Government of the Federation, is the leader of the delegation.
Other members are the Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu; the Minister of Arts, Culture and Creative Economy, Hannatu Musawa; the Special Presidential Envoy for Global and Pan-African Affairs, Brian Browne; and the Senior Special Assistant, Foreign Affairs and International Relations, Ambassador Sola Enikanolaye.
The delegation will deliver President Tinubu’s message of condolences to the Jackson family.
In an earlier tribute, President Tinubu described Reverend Jackson as a great friend of Nigeria and Africa.
“He was a moral voice and a formidable resistance to apartheid in South Africa. He played a leading role in the campaign for the release from prison of Nelson Mandela and other African National Congress leaders. He won critical support for sanctions against the then apartheid government”, President Tinubu wrote.
The burial programme for the civil rights leader began on February 26, with a lying-in-state at Rainbow PUSH Coalition in Chicago. Services in South Carolina and Washington, D.C., and a lying-in-state at the South Carolina Statehouse were scheduled for March 1-5.
On March 6, a “People’s Celebration” will take place at House of Hope in Chicago, followed by a private homegoing on March 7 at the Rainbow PUSH Coalition.
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‘Gospel Music Has Power To Transform Nigeria’, Pastor Declares

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3 weeks ago

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February 19, 2026

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The Senior Pastor of Freedom Life International Christian Center, Richard Tochukwu, has declared that gospel music possesses the spiritual capacity to transform Nigeria, describing it as a divine instrument capable of restoring hope and unity in the nation.

Speaking during an interaction with journalists, the cleric said music inspired by God’s Word can positively influence Nigeria’s spiritual and socio-political landscape by promoting peace, comfort and moral revival.

According to him, gospel music goes beyond entertainment and should be seen as a ministry tool for national healing.

ALSO READ: How Pastor Jerry Eze’s NSPPD Became The World’s Third Most-Watched YouTube Channel

“Gospel music is not just sound; it carries power. When songs are inspired by Scripture, they can heal hearts, restore faith and redirect a nation toward righteousness,” he said.

Pastor Tochukwu made the remarks while discussing his latest worship single, “I Want To Pray,” a spiritually reflective song produced by Audio5.

He explained that the track was created to encourage believers to remain steadfast in prayer and maintain consistent fellowship with God.

The song draws inspiration from Luke 18:1, which urges believers to pray always and not lose heart.

A spiritual son of Paul Enenche, Pastor Tochukwu revealed that most of his songs are birthed from deep study of Scripture.

“Sometimes while studying or preaching from a passage, a melody begins to flow. The lyrics are drawn directly from the Word. Our songs are intentional; they carry the same message we preach,” he explained.

Reflecting on his journey, he recounted beginning as a drummer who also sang before discovering what he described as a divine instruction to minister through music.

“I realised that you don’t minister only through preaching. God made me understand that songs are another channel through which His Word can reach people. Every release is backed by Scripture,” he added.

Pastor Tochukwu currently serves in Lagos, combining pastoral leadership with music ministry.

The audio and video for “I Want To Pray” are now available on major digital streaming platforms.

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