Nigeria News (Standard)
Lagos Residents Query Sustained ₦1,200 Petrol Price as Global Oil Falls to $73 per Barrel
PETROAN urges further pump price cuts; Dangote Refinery cites older crude stocks, as consumers seek relief nationwide
PETROAN urges further pump price cuts; Dangote Refinery cites older crude stocks, as consumers seek relief nationwide
Consumers and business owners in Lagos and across Nigeria have expressed renewed frustration over the continued high price of petrol at filling stations, despite international crude oil prices dropping to about $73 per barrel as at Wednesday. The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) on Tuesday called for immediate reductions in pump prices, arguing that Nigerians deserve to benefit from the recent global decline.
The drop in oil prices followed a peace agreement between the United States and Iran, which eased concerns over potential supply disruptions earlier this year. Data from international trackers show crude has fallen from over $84 per barrel during the conflict period to just above $73, its lowest since early 2026. However, retail fuel prices remain stubbornly above ₦1,200 per litre in many parts of Lagos and other states, with some marketers selling between ₦1,175 and ₦1,300 per litre.
This disconnect has led many Nigerians to demand deeper price cuts at the pumps. During the peak of Middle East tensions, petrol rose sharply from around ₦830 per litre to over ₦1,300 in some areas. While Dangote Refinery recently announced a reduction in its ex-depot price by ₦75 per litre—from ₦1,250 down to ₦1,175—consumers argue that these changes are too little compared to the scale of global declines.
Speaking on Tuesday, PETROAN President Dr. Billy Gillis-Harry urged refiners and depot owners to immediately pass on cost benefits from lower crude prices to Nigerian households. “The recent decline in global crude oil prices presents an opportunity for stakeholders in the downstream petroleum sector to pass the benefits of lower crude oil costs to Nigerian consumers. Market realities should be reflected in both ex-depot and retail pump prices in the interest of fairness and economic relief for the public,” Gillis-Harry said during a press statement. He further noted concerns that imported petrol now sometimes lands cheaper than products refined locally, calling for more market competition.
Officials at Dangote Refinery have responded that pump prices cannot fall instantly because current supplies were produced with crude purchased at higher rates during the conflict period. Industry analysts add that factors such as naira exchange rates, logistics costs, refinery expenses and old stock all play roles in final pricing. Nevertheless, social media users and transport operators continue to insist that reductions so far—sometimes as little as ₦50 per litre—have not translated into real savings for ordinary Nigerians or reduced transport costs.
With inflation still running high according to recent NBS reports and many families struggling with elevated living costs, pressure is mounting on marketers and regulators to accelerate price adjustments. PETROAN has pledged ongoing engagement with government agencies and private operators to ensure that falling global oil prices eventually bring much-needed relief to Nigerian consumers.
Nigeria News (Standard)
Expert Warns SME Growth in Nigeria Needs More Than Capital Injection
Stakeholders urged to address infrastructure, policy bottlenecks as financial support alone fails to drive sustained expansion
Stakeholders urged to address infrastructure, policy bottlenecks as financial support alone fails to drive sustained expansion
Efforts to boost small and medium enterprise (SME) growth in Nigeria must go beyond simply providing capital, a leading industry expert has advised. Speaking in Lagos on Thursday, George Ogbonnaya stressed that entrepreneurs continue to face major hurdles despite increased funding opportunities, pointing to issues such as poor infrastructure, inconsistent policy and limited access to markets.
Ogbonnaya highlighted that while government and private sector interventions have made more funds available for SMEs in recent years, many businesses still struggle to survive or scale up. “The reality is that capital alone cannot solve the challenges facing Nigerian SMEs,” he said during a stakeholder meeting. “We must also address electricity supply, transportation, and regulatory barriers if we want real growth in this sector.”
SMEs account for an estimated 48 percent of Nigeria’s GDP and employ over 80 percent of the country’s workforce, according to data from the National Bureau of Statistics (NBS). However, the sector continues to face persistent challenges ranging from unreliable power supply and high logistics costs to frequent policy changes. These factors often undermine the effectiveness of loan schemes and other financial initiatives aimed at supporting business owners.
Ogbonnaya called for a coordinated approach involving federal and state governments, development agencies and private investors. He urged policymakers to streamline regulations and invest in infrastructure projects that would lower operational costs for SMEs. “If we focus only on giving money without fixing these underlying problems, we will keep seeing high failure rates,” he cautioned.
He also encouraged SME owners to seek out training and mentorship opportunities while leveraging digital tools to expand their reach. The expert’s remarks come amid renewed calls for economic diversification as Nigeria seeks new engines of growth beyond oil revenue.
Nigeria News (Standard)
Nigerian Social Worker in Washington Jailed for Diverting ₦25m Meant for Orphaned Autistic Child
US court orders Akeatha Akintola to repay stolen funds after fleeing to Togo with false passport
US court orders Akeatha Akintola to repay stolen funds after fleeing to Togo with false passport
A Nigerian woman, Akeatha Diane Akintola, who worked as a social worker in Washington State, United States, has been sentenced to five months in jail for stealing over $17,000 (about ₦25 million) in Social Security benefits meant for an orphaned autistic child under her care. The sentencing took place before Magistrate Judge Kate Vaughan at a US federal court on June 18, following Akintola’s guilty plea and immediate remand.
According to records from the US Attorney’s Office for the Western District of Washington, Akintola began working with the Snoqualmie Tribe in January 2023. In September that year, she applied by phone to become the Social Security representative payee for a minor with intellectual disabilities who was under tribal care—a role that tribal policy specifically barred social workers from holding over children assigned to them. Prosecutors revealed that Akintola used the child’s Social Security number alongside her own details to fraudulently secure the appointment, then redirected benefits into a bank account she controlled. The funds were subsequently spent on personal expenses instead of the child’s welfare.
The theft came to light in July 2024 when Akintola and her supervisor approached the Social Security Administration to inquire about missing benefits. Officials disclosed that Akintola was listed as the representative payee; she denied this allegation but resigned from her position the next day. She later missed a scheduled court appearance on May 22, 2026. Investigations showed she had left the US two days earlier, travelling to Togo using a passport issued under another surname.
At sentencing, Judge Vaughan noted that Akintola’s actions targeted a highly vulnerable victim. A representative of the Snoqualmie Tribe told the court that Akintola had abused her position and exploited a grieving child for financial gain, saying: “In our profession, a social worker is meant to be a safekeeper… Ms Akintola did not just fail in that duty; she weaponised her position of power to systematically steal from a grieving, autistic child.”
Akintola was ordered by the court to pay $17,638 (about ₦25 million) in restitution to the Social Security Administration and has been permanently barred from serving as a representative payee again. The case has drawn attention among Nigerians abroad regarding professional ethics and trust issues within diaspora communities.
Nigeria News (Standard)
Lagos Employers Prioritise AI Skills as Job Market Shifts Towards Digital Efficiency
Major recruiters now seek professionals who can blend technology with creativity, as AI reshapes employment criteria in Nigeria
Major recruiters now seek professionals who can blend technology with creativity, as AI reshapes employment criteria in Nigeria
Top employers in Lagos are increasingly prioritising candidates with artificial intelligence (AI) skills, signalling a major shift in recruitment practices across Nigeria’s commercial capital. The development, which became evident on Tuesday, follows growing industry emphasis on digital competence and adaptability in the workplace.
According to insights from leading recruitment platform Jobberman, companies are no longer simply looking for traditional qualifications but are actively seeking professionals who can combine human intuition with the speed and accuracy of AI tools. Employers say that while AI will not entirely replace workers, those who fail to adopt emerging technologies risk being left behind by colleagues who do.
Industry stakeholders note that staying relevant does not necessarily require programming knowledge. Rather, it involves learning to leverage AI solutions for tasks such as research, automation of repetitive duties, and enhancing daily productivity. As digital tools become standard in offices from Victoria Island to Ikeja, core human qualities like creativity, critical thinking, leadership and emotional intelligence have become more valuable than ever.
Speaking on the trend, a Jobberman spokesperson explained: “We are seeing employers move beyond just academic certificates. They now want staff who can use technology to add value—whether it is automating reports or finding smarter ways to work.” The spokesperson advised job seekers to remain curious and open to new skills, stressing that willingness to learn will be a key factor in securing jobs moving forward.
Labour market analysts believe this evolution will continue as Nigerian firms face increasing global competition and pressure to deliver results faster. Many predict that those who view technology as a collaborator—rather than a threat—will be best positioned for career growth. As at press time, several multinational firms operating in Lagos had rolled out internal training programmes aimed at upskilling employees in AI literacy.
Source: https://www.pulse.ng/story/ai-wont-take-your-job-but-someone-using-ai-might-2026062511122451400
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