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Petrol price may rise as crude hits $81 per barrel

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The prices of premium motor spirit and other petroleum refined products may rise in the coming days following the increase in the cost of crude oil prices, such as Brent.

Ekwutosblog  reports on Monday that the price of Brent crude surged $81.09 per barrel as of the time of filing this report from around $76 last week.

Recall that the Nigerian government in the 2025 budget proposal bench-marked oil price at $75 per barrel.

 

The rise in the price of Brent is attributed to geopolitical tensions, particularly sanctions imposed on Russian oil exports, which have triggered supply concerns.

The development may impact the ex-depot prices of refined petroleum fuel across depots in Nigeria.

Ekwutosblog gathered on Friday that the price of automotive gas oil, diesel, has already been adjusted by at least N70 from N1,050 to N1,120 per litre in Lagos depots.

 

Data from the Major Energies Marketers Association of Nigeria on December 19, 2024, showed that the landing cost of petrol stood at N887.51 per litre; however, the rise in the price of crude oil means the landing cost may go up in the coming days.

Ekwutosblog reports that in the past weeks, the price of petrol has recorded a reduction.

Recall that Dangote Refinery and Nigerian National Petroleum Company Limited last year announced an ex-depot petrol price reduction, which led to the retail product dropping to between N935 and N965 per litre from N1040 per litre.

 

Consequently, Nigerians currently buy petrol between N935 and N1,100 per litre nationwide.

A rise in petrol prices may directly impact the increase in the prices of goods and services that are already on the high side, as November headline and food inflation stand at 34.60 percent and 39.93 percent, respectively.

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Nigerians now banned from traveling to US as Trump expands travel restriction list

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President Donald Trump on Tuesday, December 16, signed a proclamation further restricting entry into the United States for nationals of countries identified as high risk due to what the White House described as persistent and severe deficiencies in screening, vetting and information sharing that threaten national security and public safety.

Among the 15 additional countries placed under partial entry restrictions is Nigeria. The decision was announced in a fact sheet published on the White House website on December 16, 2025, titled “President Donald J. Trump Further Restricts and Limits the Entry of Foreign Nationals to Protect the Security of the United States”.

The White House said the move was aimed at strengthening national security through what it called common sense restrictions based on data.

The proclamation maintains full entry restrictions on nationals from the original 12 countries previously listed under Proclamation 10949. These countries are Afghanistan, Burma, Chad, Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen.

It also introduces full restrictions on five additional countries, namely Burkina Faso, Mali, Niger, South Sudan and Syria, as well as individuals holding travel documents issued by the Palestinian Authority. Laos and Sierra Leone, which were previously under partial restrictions, have now been placed under full restrictions.

Nationals of Burundi, Cuba, Togo and Venezuela remain subject to partial restrictions.

In addition, the proclamation imposes partial entry restrictions on 15 more countries. These include Angola, Antigua and Barbuda, Benin, Cote d’Ivoire, Dominica, Gabon, The Gambia, Malawi, Mauritania, Nigeria, Senegal, Tanzania, Tonga, Zambia and Zimbabwe.

The fact sheet states that exemptions remain in place for lawful permanent residents, existing visa holders, certain visa categories such as athletes and diplomats, and individuals whose entry is deemed to serve United States national interests.

 

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IMO OPENS NEW ECONOMIC FRONTIER AS UZODIMMA COMMISSIONS NOVA BANK REGIONAL OFFICE IN OWERRI.

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By Prince Uwalaka Chimaroke
16- DEC- 2025

Imo State took another decisive step toward economic expansion on Monday, December 15, 2025, as Governor Hope Uzodimma formally inaugurated the regional headquarters of Nova Bank in Owerri, signalling the state’s growing appeal as an investment destination.

While addressing guests at the commissioning ceremony, the governor noted that deliberate reforms, sustained infrastructural development, and a more business-friendly policy environment have steadily repositioned Imo State to attract credible investors. He described Nova Bank’s choice of Owerri as a strategic endorsement of the state’s economic viability and long-term growth prospects.

Governor Uzodimma praised the Chairman of Nova Bank, Mr. Philip Oduozor, for his experience and leadership within the financial sector, assuring the institution of continued government collaboration. He added that the arrival of Nova Bank, alongside the recent establishment of Access Bank’s regional headquarters in the state, reflects increasing confidence by the private sector in Imo’s economic direction.

Reiterating his administration’s vision, the governor emphasized ongoing efforts to transition Imo from a largely leisure-based economy into a competitive commercial centre. He pointed to significant investments in road networks, security architecture, digital systems, power supply, and overall ease of doing business, while encouraging Nova Bank to expand its footprint in the state, including consideration of Owerri for its corporate headquarters.

In his remarks, Mr. Oduozor explained that Nova Bank, which began operations in 2018 as a merchant bank, has now secured a full commercial banking licence. He stated that the bank intends to play a critical role in financing small and medium-scale enterprises across Imo State and the wider South East region by improving access to credit.

The commissioning ceremony ended with a guided inspection of the new facilities by Governor Uzodimma and top executives of the bank, marking another milestone in Imo State’s economic transformation drive.

 

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Actress Doris Ogala doubles down on claims against Pastor Chris Okafor, insists on compensation or marriage

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Actress Doris Ogala has intensified her allegations against Pastor Chris Okafor, insisting she was in a long-term relationship with him from 2017 and was promised marriage.

Speaking emotionally, Doris claimed she supported the pastor privately, bought gifts for his children, and stayed loyal for years, only to be abandoned when he decided to marry someone else.

She accused those online, including Dee One, of taking money to do “damage control,” stressing that her demands are legal, not blackmail. According to her, she is seeking compensation for emotional damage, career loss, and broken promises, adding that her lawyer is already preparing formal demands.

Doris also admitted to phone-based intimacy during her troubled marriage but denied any physical affair at the time. She maintained she has evidence to back her claims and alleged she is not the only woman Pastor Chris promised marriage.

“I’m not backing down. This is my right,” she said, warning that she is ready to speak fully if pushed further.

https://www.instagram.com/p/DSVHaVegjI7/?igsh=ZG1jNWNnZjN4YWZt

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