ADC Urges FG to Cap Petrol Prices as Global Oil Market Volatility Bites - Newstrends
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ADC Urges FG to Cap Petrol Prices as Global Oil Market Volatility Bites

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ADC Insists No Coalition Needed to Win 2027 Election, Says Atiku Will Defeat Tinubu
National Publicity Secretary, Bolaji Abdullahi

ADC Urges FG to Cap Petrol Prices as Global Oil Market Volatility Bites

The African Democratic Congress (ADC) has called on the Federal Government to introduce a temporary and time-bound cap on petrol prices to prevent further increases that could worsen the cost-of-living crisis in Nigeria.

In a statement issued on Wednesday, the party’s National Publicity Secretary, Bolaji Abdullahi, said the recent hikes in petrol prices in Nigeria reflect rising volatility in the global oil market, largely driven by escalating tensions in the Middle East.

“The African Democratic Congress calls on the Federal Government to immediately introduce a temporary and time-bound cap on petrol prices to prevent further increases that continue to push the cost of living beyond the reach of millions of Nigerians,” Abdullahi said.

He noted that the ongoing Middle East crisis has triggered instability in global energy markets, which is now affecting domestic fuel prices and worsening economic hardship for Nigerians.

According to the opposition party, external shocks should not be used to justify allowing fuel prices to rise unchecked, particularly in what it described as a fragile economy still grappling with the consequences of subsidy removal.

ADC said the current situation has deepened the economic pressure on households following the fuel subsidy removal announced by Bola Ahmed Tinubu during his inauguration on May 29, 2023.

Nigeria eventually exited under-recovery payments when the government fully deregulated the downstream petroleum sector in October 2024, allowing market forces to determine petrol pricing.

The party argued that the government must take urgent steps to protect citizens from further shocks, warning that rising fuel costs are already affecting transportation, food prices and the overall cost of doing business.

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The call comes as the Middle East conflict continues to create unprecedented volatility in global energy markets. International crude oil prices briefly crossed $100 per barrel on Monday, the highest level since July 2022, before easing to around $87 per barrel on Tuesday.

Iran has also warned that global oil prices could surge further, even threatening that crude prices may climb toward $200 per barrel if tensions escalate and shipping through the Strait of Hormuz — one of the world’s most critical oil transit routes — is disrupted.

The Strait of Hormuz is a strategic waterway through which roughly 20 percent of global oil shipments pass daily, linking the Persian Gulf to the Gulf of Oman and the Arabian Sea.

In Nigeria, the surge in crude oil prices has pushed up ex-gantry petrol prices and retail pump prices across filling stations nationwide.

Transport operators have already begun increasing fares on major routes in cities such as Lagos, Abuja and Kano, with commuters reporting that fares have doubled on some routes.

Meanwhile, the Dangote Petroleum Refinery on Tuesday announced a reduction in its ex-gantry petrol price to ₦1,075 per litre after implementing three previous increases amid global market pressures.

Despite the reduction at the refinery level, pump prices at retail filling stations remain elevated, reflecting the broader impact of global oil market fluctuations and distribution costs.

ADC warned that unless urgent intervention measures are introduced, rising petrol prices and transport costs could accelerate inflation and worsen the economic burden on millions of Nigerians already facing high food and energy costs.

The party urged the Federal Government to adopt immediate measures to stabilise the domestic fuel market while also pursuing long-term reforms to strengthen Nigeria’s energy security and refining capacity.

ADC Urges FG to Cap Petrol Prices as Global Oil Market Volatility Bites

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Why Akpabio Rejected ‘Acting President’ Title — Rufai Oseni

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ARISE News Channel’s The Morning Show anchor, Rufai Oseni
Rufai Oseni

Why Akpabio Rejected ‘Acting President’ Title — Rufai Oseni

 

LAGOS — Arise Television Morning Show anchor, Rufai Oseni, has offered insight into why Senate President Godswill Akpabio reportedly rejected the title of “Acting President” during the recent absence of President Bola Tinubu and Vice President Kashim Shettima from the country.

 

In a commentary that has sparked widespread debate across political circles, Oseni suggested that Akpabio’s refusal to embrace the title was not merely a matter of constitutional propriety, but a reflection of the legislature’s unwillingness to assert its independence as a co-equal branch of government.

 

The controversy arose when, with both the President and Vice President out of the country, some political associates reportedly began referring to Akpabio as the acting president. Akpabio swiftly moved to quell the speculation, clarifying that he remains the Senate President and that there is no vacancy in the presidency, noting that President Tinubu was still running the country from abroad.

 

However, Oseni, speaking on his morning show, argued that the situation raises fundamental questions about the balance of power in Nigeria’s presidential system. He contended that the Senate President’s eagerness to dismiss the acting title highlights a deeper issue: the National Assembly’s reluctance to genuinely challenge or check the executive arm of government.

 

Oseni pointed to the legislature’s earlier endorsement of a state of emergency in Rivers State as evidence that the current leadership under Akpabio would not stand up for the independence of the parliament. He questioned whether a Senate President who shies away from the constitutional implications of a power vacuum can effectively champion the legislature’s role as a separate arm of government.

 

“The refusal to accept the acting president title is not just about protocol; it is about the willingness of the National Assembly to assert its constitutional independence,” Oseni said during the broadcast. “If the Senate President cannot stand up for the legislature in a moment like this, it raises serious questions about the checks and balances in our democracy.”

 

The political analyst’s remarks have reignited conversations about the relationship between the executive and the legislature under the current administration, with critics arguing that the National Assembly has become increasingly subservient to the presidency.

 

While Akpabio’s allies maintain that his decision was a mark of respect for constitutional order and the sitting president, Oseni’s analysis suggests that the move may have wider implications for the balance of power in Abuja.

 

As the debate continues, observers say the incident underscores the ongoing tension between constitutional duty and political reality in Nigeria’s democratic experiment.

 

Why Akpabio Rejected ‘Acting President’ Title — Rufai Oseni

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Lagos Club Robbery: Police Arrest Suspect After N5m Bounty

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Lagos Club Robbery: Police Arrest Suspect After N5m Bounty

Lagos Club Robbery: Police Arrest Suspect After N5m Bounty

The Lagos State Police Command has arrested a suspected member of the gang that allegedly robbed clubgoers outside Ghost and Spirits Lounge on Ekoro Road, Abule Egba, Lagos.

The suspect was reportedly identified from video footage of the incident, which showed several people being attacked outside the entertainment venue in the early hours of the morning.

The Lagos club robbery reportedly occurred at about 4am on Saturday after some customers had left the lounge and gathered around their vehicles.

Footage from the scene showed several clubgoers sitting around a vehicle when the suspected robbers approached.

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One of the suspects, reportedly dressed in a green shirt and cap, appeared to move among the people before allegedly targeting one of the victims.

Another member of the group was reportedly seen in an SUV parked across the road before a gunshot was fired, causing some of the people at the scene to run for safety.

The suspect in the green shirt was then allegedly seen taking a wristwatch from one of the victims, while other members of the group reportedly collected valuables before escaping in their vehicle.

Following the incident, the management of the lounge announced a N5 million reward for information leading to the arrest of the perpetrators.

The reward and subsequent investigation helped the police identify and track one of the suspects, who was eventually arrested.

A police source said the suspect was in custody and being interrogated, with investigators seeking information that could lead to the arrest of the other alleged members of the gang.

The Lagos Police Command has also intensified efforts to locate the remaining suspects, who are reportedly still at large.

The incident has raised concerns among residents and nightlife customers in Abule Egba, particularly over the security of people leaving entertainment venues during the early hours.

Police authorities have urged residents with useful information about the suspects or the robbery to assist the investigation.

The arrested suspect remains presumed innocent unless proven guilty in court, while investigations continue into the alleged robbery and the identities and whereabouts of the other suspects.

Lagos Club Robbery: Police Arrest Suspect After N5m Bounty

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Passenger Dies After Jumping From Moving Bus In Lagos

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Passenger Dies After Jumping From Moving Bus In Lagos

Passenger Dies After Jumping From Moving Bus In Lagos

A passenger has died after jumping from a moving commercial bus at Ogunlana Junction, inward Ojuelegba, in the Surulere area of Lagos.

The incident involved a Volkswagen commercial bus with registration number LND 130 XR, which reportedly crashed into a median pole around the Fallout area of Surulere.

The Lagos State Traffic Management Authority (LASTMA) said preliminary security reports indicated that the driver was allegedly under the influence of alcohol and had been driving recklessly shortly before the crash.

According to the agency, motorists approaching the bus from behind had to exercise caution to avoid colliding with the vehicle as it reportedly moved erratically.

Amid the incident, a male passenger reportedly jumped from the moving bus, apparently attempting to escape from the uncontrolled vehicle. He sustained serious injuries after hitting the ground and later died from his injuries.

LASTMA officials conducting routine traffic surveillance along the Ojuelegba axis responded to the scene after noticing the crash. They secured the area, managed traffic and removed the damaged bus and the deceased passenger from the carriageway to reduce the risk of a secondary collision.

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Police officers from the Area C Police Division, Ojuelegba, provided security at the scene, while officials of the State Emergency Management Agency evacuated the remains of the deceased.

LASTMA General Manager, Olalekan Bakare-Oki, described the incident as a reminder of the dangers associated with driving under the influence of alcohol, reckless driving and operating vehicles that may not be mechanically fit for the road.

Bakare-Oki urged commercial and private motorists to conduct comprehensive checks on their vehicles before every journey, with particular attention to the braking system, tyres, steering mechanism and other critical safety components.

He also commiserated with the family of the deceased and reaffirmed LASTMA‘s commitment to responding promptly to road crashes, managing traffic and clearing accident scenes.

The agency urged motorists and other road users to report accidents, vehicle breakdowns and other traffic obstructions through its toll-free short code, 3367.

Passenger Dies After Jumping From Moving Bus In Lagos

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