Oil prices rise again after Dangote reduces petrol by N100/litre

Global crude oil prices rebounded sharply on Wednesday, rising by about five per cent after briefly dipping to $88 per barrel the previous day, as escalating tensions in the Middle East continued to unsettle energy markets.

Data from the international market showed that Brent crude climbed to $92.43 per barrel as of 10:56am WAT, representing a 5.27 per cent increase. The benchmark had surged above $100 per barrel earlier in the week amid intensifying hostilities in the region.

The main United States oil contract, West Texas Intermediate, also rose sharply, gaining 5.9 per cent to trade at $88.38 per barrel.

The volatility in global crude prices came a day after the Dangote Petroleum Refinery announced a reduction in the price of Premium Motor Spirit (PMS), also known as petrol, in Nigeria.

The refinery’s Chief Communications Officer, Anthony Chiejina, told Channels Television on Tuesday that the gantry price of petrol had been cut by ₦100, dropping from ₦1,175 per litre last week to ₦1,075 per litre.

According to him, petrol supplied through coastal distribution channels will now sell at ₦1,050 per litre.

In a statement explaining the adjustment, the refinery said the price reduction was driven by movements in global crude oil prices.

“As responsible corporate citizens operating in a high-governance code and ethical environment, we believe it is imperative to reduce the price of our products as a reflection of the decline in global crude oil prices,” the company said.

The refinery noted that its crude supply is priced using international benchmarks with an additional premium of between $3 and $6, while foreign exchange payments are made at prevailing market rates without subsidy.

It added that even crude supplied under the naira-for-crude arrangement is benchmarked against global prices before being converted to naira using the current exchange rate.

The latest price cut marks the first reduction after three consecutive increases that had pushed petrol prices significantly higher in recent weeks.

Earlier, the Chief Executive Officer of the refinery, David Bird, said the facility was not insulated from global oil market shocks because its crude purchases are tied to international pricing benchmarks.

The refinery’s move came after crude prices briefly fell to about $90 per barrel on Tuesday — the first decline since the outbreak of the latest Middle East conflict involving the United States, Iran and Israel.

The war has heightened concerns about potential disruptions to global oil supply, triggering sharp swings in crude prices and contributing to rising fuel costs in several countries, including Nigeria.

Speaking on the conflict, Donald Trump said the military campaign was progressing faster than initially expected.

“I think the war is very complete, pretty much. They have no navy, no communications, and they’ve got no air force,” the US President told CBS News in a telephone interview.

Trump added that the United States was “very far ahead” of the initial wartime timeline of about four to five weeks and suggested the conflict could end soon.

“It’s going to be ended soon, and if it starts up again, they’ll be hit even harder,” he said.

Quack Doctor Sentenced to Death for Murder in Ekiti

An Ekiti State High Court sitting in Ado‑Ekiti has sentenced 48‑year‑old Olatide Temitope Emmanuel to death by hanging after finding him guilty of murder and impersonation for posing as a medical doctor and causing the death of a pregnant woman during a botched procedure. The ruling serves as a stern warning against medical quackery in Nigeria.

Emmanuel was arraigned before Justice Babajide Aladejana on two counts: murder for the June 24, 2019 death of Falade Bosede at Odo Ikole Compound, Erinmope‑Ekiti, and impersonation of a medical doctor on June 9, 2019 at Ajebamidele Street, Otun Ekiti. The offences contravened Sections 316 and 319(1) of the Criminal Code Law, Cap. C16, Laws of Ekiti State, 2012.

The prosecution, led by Kunle‑Shina Adeyemo, called seven witnesses and tendered multiple exhibits, including the defendant’s statements, medical reports, and photographs of the deceased, proving that Emmanuel — who had no recognized medical qualification — unlawfully conducted the procedure that led to Bosede’s death.

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During his defence, Emmanuel admitted he was not a certified medical doctor, claiming only to have worked as a nursing apprentice in Lagos and later opened his own private clinic in Erinmope. He did not call any witnesses to support his case.

In delivering judgment, Justice Aladejana stated, “The prosecution has proved beyond reasonable doubt that the reckless action of the defendant caused her death on 24th June, 2019. The defendant is accordingly found guilty as charged. The judgment of this court is that you, Olatide Temitope Emmanuel, be hanged by the neck until you are dead.”

Legal analysts note that the case underscores the dangers of unlicensed medical practice, particularly in rural communities where access to certified healthcare is limited. Experts say the ruling could act as a deterrent to quacks and fraudsters who endanger lives by impersonating medical professionals.

Emmanuel retains the right to appeal the judgment, which may be taken to a higher court for review. Meanwhile, the sentence reflects the severity of practising medicine without qualifications and the legal system’s commitment to protecting public health in Nigeria.

Quack Doctor Sentenced to Death for Murder in Ekiti

Lagos Court Remands Four Police Officers Over Owode Onirin Market Killings

A Chief Magistrates’ Court in Ebute Metta, Lagos, has ordered the remand of four police officers accused of killing traders at the Owode Onirin International Spare Parts Market in Lagos State.

The defendants — Msanu Bala (41), Jibrin Samaila (47), Ibrahim Garuba (29), and Ibrahim Kashimu (26) — were arraigned on a seven-count charge bordering on conspiracy and murder over the deadly incident that reportedly occurred at the busy market.

According to the prosecution, the alleged offence took place on August 27, 2025, at about 9:00 a.m., when the officers and others still at large allegedly opened fire on traders using AK-47 rifles during a confrontation at the market.

The prosecutor, O.W. Ologun, told the court that the accused officers allegedly conspired to carry out the attack, which resulted in the deaths of several traders and injuries to others.

The charge sheet listed six victims allegedly killed during the shooting. They include Bamidele Dare Mufutau, Adebayo Adewale Mathew, Adeoye Taiye, Abraham Idowu Temilola, Akinboye Oluwaseyi Olamilekan, and Akeem Aderemi Adeoye.

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Authorities said the alleged offences contravene Sections 223 and 233 of the Criminal Law of Lagos State, 2015, which deal with conspiracy and murder.

Following their arraignment, the presiding magistrate E. Kubeinje ordered that the suspects be remanded at the Kirikiri Custodial Centre pending legal advice from the Director of Public Prosecutions (DPP).

The court subsequently adjourned the case until April 15, 2026, for mention.

Counsel to the defendants, Azuri Ejiofor, opposed the remand request, arguing that the accused officers had already spent more than five months in detention before being brought before the court.

However, the court granted the prosecution’s request for remand while awaiting the DPP’s legal advice to determine whether the case would proceed to full trial.

The case is linked to a violent confrontation between traders and armed security operatives during a dispute reportedly related to demolition activities and land ownership issues at the Owode Onirin market.

The incident sparked public outrage among traders and residents, who demanded justice for the victims killed during the shooting at the popular spare parts market in the Kosofe area of Lagos State.

Earlier, the Lagos State Police Command confirmed that the officers involved in the incident had been dismissed from the Nigeria Police Force following investigations into the killings.

Authorities say the prosecution of the suspects is part of efforts to ensure accountability and justice over the Owode Onirin market killings.

Lagos Court Remands Four Police Officers Over Owode Onirin Market Killings