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Petrol Price Hits N1,450/Litre as Middle East Crisis Pushes Oil Above $108

Published

3 weeks ago

September 14, 2026

Petrol Depot Prices Fall as Dangote, Marketers Cut Rates, Pump Price Reduction Looms

Petrol Price Hits N1,450/Litre as Middle East Crisis Pushes Oil Above $108

The petrol price in Nigeria has climbed to as high as ₦1,450 per litre in Abuja and about ₦1,400 in parts of Lagos, following a fresh increase in the price of refined petroleum products amid a sharp rise in international crude oil prices.

The latest increase comes after the Dangote Petroleum Refinery raised its petrol gantry price by ₦85, from ₦1,265 to ₦1,350 per litre, effective September 12, 2026.

The adjustment, representing a 6.7 per cent increase, has added fresh pressure to the downstream petroleum market as international crude prices surge amid escalating Middle East tensions and concerns over disruptions to global oil supplies.

The latest Dangote adjustment is the refinery’s fourth increase in about three weeks. Its petrol gantry price has risen by roughly 15.9 per cent since August 21, when the price stood at ₦1,165 per litre.

The impact has already become visible at filling stations, although pump prices vary from one location and marketer to another depending on supply costs, transportation expenses, existing stock and pricing decisions.

In Abuja, some filling stations have raised their prices to ₦1,450 per litre, while others are selling between ₦1,395 and ₦1,400. The increases have also been recorded in Lagos and Ibadan, with several outlets reviewing their prices upwards.

The latest retail movements are coming against a dramatic surge in the international oil market. Brent crude, the global benchmark, has risen above $107 per barrel, with prices reaching about $108.33 amid renewed concerns over global supply.

The oil price rally has been driven by escalating military tensions in the Middle East, attacks on energy infrastructure and growing concerns over the movement of crude through major international shipping routes.

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A drone attack also forced Saudi Arabia to temporarily shut its East-West Pipeline, a key route that allows the country to transport crude to the Red Sea without passing through the Strait of Hormuz. The disruption has heightened concerns about the availability of global oil supplies.

The Strait of Hormuz remains another major source of concern for the global energy market because of its importance to international crude and petroleum-product shipments. Any prolonged disruption to the waterway could further tighten supplies and push oil prices higher.

The current oil shock is already having consequences beyond crude prices. Refiners and fuel suppliers around the world are facing higher replacement costs, while disruptions to shipping and refining infrastructure are increasing the cost of moving petroleum products.

That situation has direct implications for Nigeria despite the country’s growing domestic refining capacity.

The Dangote Refinery, which has become a major supplier of refined petroleum products in Nigeria, has itself adjusted its prices in response to changing international market conditions.

The refinery also increased its coastal price from ₦1,669,543 to ₦1,783,530 per metric tonne, an increase of ₦113,987 or 6.8 per cent.

The latest increase highlights the extent to which global crude prices continue to influence Nigeria’s domestic petroleum market even as local refining expands.

The refinery has also been increasing its crude purchases from Nigeria. It has secured at least 16 million barrels of Nigerian crude for October, equivalent to about 520,000 barrels per day, representing a substantial share of its roughly 700,000-barrel-per-day operating capacity.

The growing availability of locally refined petrol has reduced Nigeria’s dependence on imported finished products, but it does not completely insulate consumers from international oil-price movements. Crude is traded in a global market, while refinery economics, product replacement costs, shipping and other downstream expenses remain sensitive to international conditions.

The latest development is particularly significant because Nigeria’s petrol market is deregulated, meaning retail prices can respond to changes in crude prices, exchange rates, supply costs and competition among marketers.

The current increase could therefore put additional pressure on transport operators, logistics companies, manufacturers and households that depend heavily on petrol.

For consumers, higher pump prices can translate into increased transportation and distribution costs, while businesses that use petrol-powered generators and vehicles may also face higher operating expenses.

The effect could extend to food and other consumer goods if higher fuel and logistics costs are passed through the supply chain.

The renewed pressure comes at a time when the global refining industry is also facing significant disruptions.

David Bird, chief executive of the Dangote Refinery, recently warned that global fuel shortages could continue beyond the current Iran-related conflict because of damage to Middle Eastern refining infrastructure, high refinery utilisation rates and efforts by countries to rebuild depleted fuel inventories.

According to the refinery, the combination of the Middle East conflict and the Russia-Ukraine war has placed additional pressure on global refining capacity and fuel supplies.

Dangote has said it expects to expand its Nigerian refinery capacity further, with plans aimed at increasing its ability to supply refined products to Nigeria and international markets.

For Nigeria, greater domestic refining capacity could strengthen supply security over the long term, but the immediate impact of higher global crude prices is being felt through the cost of petroleum products.

The latest ₦1,450 per litre petrol price in parts of Abuja therefore reflects a combination of domestic pricing adjustments and a rapidly changing international oil market.

There is no uniform national pump price, and motorists in different states and even within the same city may continue to encounter different prices.

However, the movement of petrol towards ₦1,400–₦1,450 per litre at several filling stations signals renewed pressure on Nigerian consumers.

With Brent crude above $108 per barrel, continuing uncertainty around the Strait of Hormuz and other major oil routes, and concerns about global refining capacity, further volatility in petrol prices remains possible.

Unless international oil prices retreat significantly or supply disruptions ease, Nigerian motorists and businesses may continue to face pressure from elevated fuel prices in the coming days.

Petrol Price Hits N1,450/Litre as Middle East Crisis Pushes Oil Above $108

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Ogun Crash: Nine Die As Bus Collides With Truck On Ijebu-Ode-Ore Road

Published

12 seconds ago

October 6, 2026

Trends Admin

Ogun Crash: Nine Die As Bus Collides With Truck On Ijebu-Ode-Ore Road

Nine people have been killed in a fatal road crash in Ogun State after a commercial bus collided with a truck along the Ijebu-Ode–Ore Expressway.

The crash occurred at about 4:55 p.m. on Monday around the Bethel area of the Ijebu-Ode Unit Command of the Federal Road Safety Corps (FRSC).

The accident involved a white Toyota Hiace commercial bus belonging to Delta Line, with registration number 14B-299DT, and a white Sino Truck operated by Bill Gas Solution Ltd, with registration number AAB162XD.

The FRSC Ogun State Sector Command confirmed that nine people were involved in the crash and that all nine died.

The victims comprised three males and six females, according to the road safety agency.

The crash occurred during rainfall, leaving the road surface wet at the time of the incident. A preliminary investigation by the FRSC identified speed violation as the probable cause of the collision.

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The agency’s rescue team reportedly arrived at the scene at about 4:58 p.m., just three minutes after the crash was reported, and immediately commenced rescue and recovery operations.

The bodies of the victims were evacuated and deposited at the General Hospital morgue in Ijebu-Ode, while the two vehicles were towed to the Ilese Police Station by the Nigeria Police Force Motor Traffic Division for further investigation.

The Ogun State Sector Commander of the FRSC, Corps Commander Oludare Ogunjobi, expressed concern over the continued dangers posed by speeding, particularly during rainfall.

Ogunjobi urged motorists, especially commercial vehicle operators, to obey speed limits, maintain safe following distances and exercise greater caution on wet roads.

He warned that speeding on wet roads increases the risk of losing control because reduced tyre grip and visibility can make it more difficult for drivers to stop or manoeuvre safely.

The latest Ogun road crash adds to a series of fatal accidents recorded on major highways in the state, with the FRSC repeatedly urging motorists to comply with traffic regulations and avoid dangerous driving practices.

The road safety agency condoled with the families of the nine victims and urged motorists to make safety a priority, particularly during periods of rainfall.

Ogun Crash: Nine Die As Bus Collides With Truck On Ijebu-Ode-Ore Road

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Gunmen Open Fire At Lagos Bus Stop, Kill NURTW Member, Injure Three

Published

16 minutes ago

October 6, 2026

Trends Admin

Kamoru Omokoye

Gunmen Open Fire At Lagos Bus Stop, Kill NURTW Member, Injure Three

A member of the National Union of Road Transport Workers (NURTW), identified as Kamoru Omokoye, popularly known as Zobo, has been shot dead at Abijo Bus Stop in the Ibeju-Lekki area of Lagos State.

Omokoye was reportedly attacked around 9am on Sunday by two men who arrived at the bus stop in an unregistered Lexus RX 350 before opening fire on him.

A police source who confirmed the incident said the victim was shot in the head during the attack. The assailants reportedly sped away immediately after the shooting.

Omokoye was rushed to the Federal Medical Centre, Epe, for treatment but was pronounced dead by a doctor on duty.

Following the incident, detectives visited the scene and combed the area as part of efforts to identify and arrest those responsible for the Lagos bus stop shooting.

The Lagos State Police Public Relations Officer, Abimbola Adebisi, also confirmed the incident, saying the command had commenced an investigation.

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While the police source described the attackers as suspected cultists, the exact motive for the killing has not been officially established.

An anti-cultism advocacy platform, Naija Confra, reported that Omokoye was sitting at a drinking spot near the bus stop when the attackers arrived and opened fire. The report said other people at the location fled as the gunmen shot at the gathering.

At least three other people were reportedly wounded in the shooting.

Omokoye was said to have previously worked around Awoyaya Bus Stop before moving to GRA Bus Stop. He was also reportedly the father of an eight-month-old child.

The latest incident has heightened concerns about violent attacks around transport corridors and public gathering points in parts of Lagos State, particularly where criminal or cult-related activities have previously been reported.

Police authorities have yet to announce any arrest in connection with the killing.

The investigation is expected to focus on identifying the attackers, establishing their motive and determining whether the killing was linked to a cult-related dispute, a transport-union conflict or another criminal motive.

Residents have also been urged to provide useful information to the police that could assist in identifying those responsible for the killing of the NURTW member.

Gunmen Open Fire At Lagos Bus Stop, Kill NURTW Member, Injure Three

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Ondo Air Tragedy: Soldiers, Families Among 32 Killed In NAF Crash

Published

36 minutes ago

October 6, 2026

Trends Admin

Ondo Air Tragedy: Soldiers, Families Among 32 Killed In NAF Crash

A Nigerian Air Force (NAF) aircraft has crashed in Igbokoda, Ondo State, killing all 32 people on board, including military personnel, family members and seven crew members.

The aircraft, an ATR-42, was carrying 25 passengers and seven crew members when it crashed into a swampy area opposite the Naval Base in Igbokoda, Ilaje Local Government Area, on Monday morning.

The aircraft was reportedly travelling from Benin, Edo State, to Lagos on a routine military mission when communication with air traffic controllers was lost at about 9:13 a.m.

Efforts to re-establish contact with the aircraft reportedly failed before the aircraft disappeared from radar. Its wreckage was later located in the difficult-to-access swamp near the naval facility.

The victims included Nigerian military personnel and members of their families, with reports indicating that some of the family members were children returning to school. The presence of family members on the flight has added to the grief surrounding the Ondo plane crash.

The crash site, located in a swampy and waterlogged area, posed significant challenges to rescuers and recovery teams. Military personnel, emergency responders and local residents were involved in efforts to reach the wreckage and recover the victims.

Ondo State Governor Lucky Aiyedatiwa confirmed that no survivor had been found at the crash site. Responders reportedly recovered parts of the aircraft, military uniforms and identity cards from the area while efforts continued to retrieve the wreckage.

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The exact cause of the NAF aircraft crash remains unknown.

Early reports raised the possibility of adverse weather conditions, while another account suggested that the aircraft could have suffered a technical or mechanical problem. Neither explanation has been established as the cause of the crash, and officials have urged the public to await the outcome of the investigation.

The loss of communication between the aircraft and air traffic controllers is expected to form a major part of the investigation, alongside the aircraft’s maintenance history, technical condition, weather conditions, flight-control communications and data from the aircraft’s flight recorder.

President Bola Ahmed Tinubu has ordered a thorough investigation into the NAF plane crash, directing the Nigerian Air Force to establish what led to the tragedy.

Tinubu expressed condolences to the families of the victims and the Nigerian Armed Forces, describing the incident as a painful loss to the country.

The President also declared three days of national mourning for the Air Force personnel killed in the crash and directed that national flags be flown at half-mast across the country.

The Nigeria Safety Investigation Bureau (NSIB) has indicated its readiness to provide technical assistance to the military investigation if requested. Because the aircraft was operated by the military, the primary investigation is expected to be handled by the Nigerian Air Force.

Investigators are expected to examine the aircraft’s flight data, maintenance records and communication with air traffic control to determine what happened during the final stages of the flight.

The Nigerian Air Force is also expected to release the names of the deceased after completing the process of notifying their families.

The Ondo NAF crash is one of the deadliest recent military aviation accidents in Nigeria and has renewed concerns about the safety, maintenance and operational readiness of military aircraft.

For now, attention remains focused on the recovery of the victims, identification of those who died and the investigation that will determine how the aircraft carrying 32 people came down in the Ondo wetlands.