NEWS
Unstable Petrol Prices Could Force Marketers Out Of Business – PETROAN
Oil marketers in Nigeria are raising concerns over the instability of petrol prices, warning that the constant fluctuations are threatening the survival of their businesses.
Speaking on Channels Television’s Business Morning on Tuesday, the President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gilly-Harris, lamented the losses being incurred by retailers due to unpredictable price movements.
He highlighted the ongoing price competition between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) as a major factor affecting the market. Dangote Refinery recently reduced its ex-depot price by N65, bringing pump prices at its affiliated stations down to N860 per litre from N925-N930.
READ ALSO: BREAKING: Kyari Rubishes Fuel Quality Talks As Mere Drama, Bad Marketing Antics
In response, NNPCL also slashed its prices, intensifying competition and further disrupting pricing stability.
Gilly-Harris expressed frustration over the impact of these sudden changes on retailers, noting that businesses are struggling to remain profitable.
“In our consistently weekly reviews, we discovered that the size of loss, and the possibility of most of us getting out of business is glaring at us in the face,” he said.
“We buy products at a price today, and before the close of business, the price has reduced. We thought there should be a mechanism by which prices are analyzed to ensure it doesn’t impact negatively on the industry.”
He explained that while global crude oil prices have seen some reductions, the erratic adjustments in local petrol prices make it difficult for marketers to recover their costs.
“We are fully aware that the international prices of crude oil and other related expenses are also being reduced. But when we invest to buy products at, say, N880 per litre, and the price suddenly drops to N840, N850, N860, or even N870 per litre, it becomes challenging for us to recover our costs,” he stated.
Beyond the price fluctuations, Gilly-Harris also raised concerns about the lack of consultation with industry stakeholders before major pricing decisions are made.
According to him, PETROAN members have the capacity to either import petrol or buy from local refineries, but without a stable pricing structure, it becomes increasingly difficult to operate.
“We have the capacity to import our products. We also have the capacity to buy locally refined products. But we see that prices consistently shift up or down, and there is no clear business consultation on how this should be done,” he said.
He called on regulatory agencies, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Consumer Protection Agency, to take urgent steps to address the instability.
NEWS
Global Crisis: Attacks on Schools Skyrocket 166% – UN Sounds Alarm on Children’s Safety
The United Nations has raised the alarm over a dramatic surge in attacks on schools worldwide, reporting a 166% increase between 2021 and 2024.
The rise highlights the escalating dangers faced by children in conflict zones.
United Nations Deputy High Commissioner for Human Rights, Nada Al-Nashif, revealed the figures during the annual meeting of the UN Human Rights Council on the rights of the child on Monday.
The session, themed “Mainstreaming the Rights of Children in Armed Conflict: Prevention and Protection,” focused on protecting children amid global conflicts.
Al-Nashif noted that the attacks were particularly concentrated in Sudan, Ukraine, the Gaza Strip, Myanmar, and Ethiopia, where children remain among the most vulnerable victims.
“In 2024, armed conflict directly affected nearly one in six children globally—about 470 million children,” she said. “Years of lost education, trauma, and lasting mental scars shape societies for generations. Long after the fighting subsides, children continue to face deadly risks.”
She highlighted Gaza as having the world’s highest number of child amputees per capita, warning that the impact of war goes far beyond immediate violence.
In Lebanon, government figures show that more than 450,000 people were displaced in less than a week, with at least 394 fatalities, including 83 children, during the 2024 conflict with Israel.
Al-Nashif also stressed the disproportionate risks for displaced children, who are more likely to die from disease linked to unsafe water and sanitation than from direct violence.
In the Democratic Republic of Congo, a 2025 cholera outbreak killed 340 children, underscoring the long-term consequences of conflict.
She called on states to uphold their international obligations to protect children, insisting that protecting children is “both a legal obligation and a humanitarian moral imperative.”
Also speaking at the council, Vanessa Frazier, Special Representative of the UN Secretary-General for Children and Armed Conflict, warned that violence against children continued at extreme levels in 2025.
She urged mainstreaming child protection across peace, security, humanitarian, human rights, and development efforts, emphasizing that children should actively participate in shaping policies designed to safeguard them.
Frazier highlighted her office’s global campaign, “Prove It Matters,” aimed at amplifying children’s voices in conflict resolution and peacebuilding.
The UN report underscores the urgent need for coordinated international action to protect children and ensure their safety in conflict zones worldwide.
International News
After Turbulent Elections, Portugal Swears In Seguro as President
Portugal officially inaugurated its new president, Antonio Jose Seguro, on Monday, pledging to bring stability to a nation shaken by political uncertainty and natural disasters.
Seguro, the centre-left candidate, won last month’s presidential run-off against far-right rival Andre Ventura, following weeks of catastrophic storms that killed at least seven people and caused approximately €4 billion ($4.6 billion) in damage.
Speaking at his swearing-in ceremony in Lisbon’s parliament, Seguro emphasized cooperation with the minority right-wing government and vowed to end the country’s “electoral frenzy.”
SEE MORE: Spain, Portugal Plunge Into Darkness Amid Widespread Power Outage
“I will do everything I can to put an end to this electoral frenzy,” he said, pointing to the inability of previous governments to complete their terms.
Amid global crises, including conflicts in the Middle East and a more isolationist US approach under President Donald Trump, Seguro stressed the importance of multilateralism.
“The force of law has been replaced by the power of the strongest,” he remarked.
Seguro succeeds Marcelo Rebelo de Sousa, a conservative who leaves office at 77 after serving two five-year terms.
While the Portuguese presidency is largely ceremonial, Seguro’s leadership signals a commitment to political stability and international engagement.
NEWS
JUST IN: Nigerians Reeling as Dangote Sparks Another Spike in Fuel Prices
Nigerians are facing yet another economic blow as petrol prices surge again. The Dangote Petroleum Refinery has raised the gantry price of Premium Motor Spirit (PMS) to N1,175 per litre, marking the third increase in just one week.
The latest adjustment, announced to marketers on Monday, follows a temporary suspension of petrol sales at the refinery on Sunday. Diesel, also known as Automotive Gas Oil, has also been revised upwards to N1,620 per litre.
ALSO READ: NNPC, Dangote Team Up to Power Nigeria’s Energy Future
A senior refinery official, speaking on condition of anonymity, confirmed the hike, noting that it reflects “prevailing market fundamentals and the cost environment we are currently operating in.”
Industry checks show that depot pricing systems have already updated the new rates, signaling an inevitable rise at retail stations.
In some cities, petrol is now being sold at over N1,200 per litre, adding pressure on Nigerian motorists and businesses alike.
This repeated surge comes after earlier increases that pushed gantry prices from N774 to N995 per litre earlier this week.
Experts warn that the hikes are likely to drive up transportation, logistics, and production costs, potentially impacting the prices of goods and services nationwide.
While the Federal Government, through the Nigerian National Petroleum Company Limited (NNPC), is working to secure crude supplies for the refinery via international traders, officials cautioned that this may not immediately reduce prices for consumers.






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