News
Petrol Prices May Ease as Depot Costs Decline Across Nigeria
By Derick Peretengboro
Fresh signs of possible relief have emerged for motorists and businesses as the cost of Premium Motor Spirit (PMS), popularly known as petrol, continues to fall at several fuel depots across Nigeria.
Industry data indicates that a number of private depots have reduced their ex-depot prices, a development that could eventually lead to lower pump prices if marketers transfer the savings to consumers. The latest adjustments reflect growing competition among fuel suppliers and changing market conditions.
Market observers noted that the reduction in depot prices follows recent improvements in product availability, with marketers now sourcing supplies from multiple channels. The increased competition has placed pressure on suppliers to review their pricing in order to attract buyers.
Although retail filling stations have yet to implement widespread price cuts, petroleum marketers believe the downward trend at depots could influence pump prices in the coming days if the lower landing costs remain stable. Industry stakeholders, however, cautioned that fluctuations in crude oil prices, exchange rates and transportation costs could still affect the final retail price paid by consumers.
Many transport operators and businesses, who rely heavily on petrol for daily operations, are hopeful that the falling depot rates will reduce operating expenses and help ease the financial burden caused by recent fuel price increases.
Economic analysts say sustained reductions in wholesale fuel prices could also help moderate inflationary pressures by lowering transportation and logistics costs across various sectors of the economy. However, they stressed that the full benefits will depend on how quickly marketers adjust pump prices nationwide.
Consumers are expected to closely monitor developments in the downstream petroleum sector over the coming days as the market responds to the latest pricing changes.
By staff Reporter Rukevwe Odeh
A group of stakeholders in Warri has announced its decision to withdraw support for the incumbent member representing the Warri Federal Constituency in the House of Representatives, Hon. Thomas Ereyitomi, ahead of the 2027 general elections.
The group, while explaining its position, cited what it described as dissatisfaction with the lawmaker’s performance and representation of the constituency.
The stakeholders subsequently declared their support for Comrade Jude Ukori Mulade as their preferred candidate for the 2027 House of Representatives election.
According to the group, its decision followed concerns over the level of representation and development delivered to the constituency under the current administration.
The stakeholders said they were seeking a representative who would be more responsive to the needs of the people and more committed to advancing issues affecting residents across the constituency.
They urged other political stakeholders and eligible voters in Warri to consider Mulade’s candidacy as the 2027 elections approach.
The group’s endorsement adds to the growing political activities and realignments expected to shape the contest for the Warri Federal Constituency seat ahead of the 2027 general elections.
Ereyitomi, who currently represents the constituency in the House of Representatives, has yet to publicly respond to the allegations contained in the group’s statement.
By staff Reporter Rukevwe Odeh
Residents and road users along the Warri Airport Road, particularly the section near Federal Government College in Warri South Local Government Area of Delta State, have continued to contend with recurring flooding despite years of road construction and rehabilitation efforts.
The affected stretch is frequently submerged following heavy rainfall, with inadequate drainage identified as a major factor contributing to the persistent flooding.
The recurring situation has raised concerns among motorists, residents and other road users, who say the condition of the road continues to disrupt movement and create difficulties for commuters whenever there is significant rainfall.
The development has also renewed calls for attention to the drainage system along the route, with residents hoping that a lasting solution will be implemented to prevent the road from repeatedly becoming flooded.
By staff Reporter: Rukevwe Odeh
A heavy downpour has left the popular NNPC Housing Complex Road, also known as Ekpan Link Road, submerged in floodwater in Uvwie Local Government Area of Delta State.
The rainfall caused significant water accumulation along the busy road, affecting movement and creating difficulties for motorists and other road users.
The condition of the road has renewed concerns over flooding and drainage challenges in the area, particularly during periods of heavy rainfall.
Residents and commuters are expected to exercise caution while using the affected route as efforts to manage the situation continue.
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