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Crude Oil Prices Surge Above $100 Per Barrel As Fuel Surpasses N1,000 Per Liter In Nigeria

Global crude oil prices rose above $100 per barrel on Monday morning, while the price of Premium Motor Spirit (PMS) in Nigeria climbed past N1,000 per litre.

Brent and West Texas Intermediate crude blends surged by 13 percent and 15 percent to $103.3 per barrel and $107.3 per barrel, respectively, according to oilprice.com.

The latest crude price rally comes amid the ongoing war in the Middle East, with Iran faced by the United States and Israel.

Both sides have refused to broker peace as the region has been in turmoil since February 28th, 2026, when the US and Israel coordinated an attack on Iran, which led to the death of Iranian Supreme Leader Ayatollah Ali Khamenei and several others.

Iran has since launched retaliatory attacks in the Gulf region, leading to the shutdown of major refineries and crude businesses.

Crude price surges have also impacted domestic petrol prices in Nigeria, which have risen above N1,000 per liter, down from around N870 per liter before the war in the Middle East.

However, there is possibility of a slight respite as finance ministers of the G7 plan to discuss the possibility of releasing oil from storage in response to the price rally in the past days.

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Iran War: FG Releases Emergency Contacts For Nigerians In Middle East (Full List)

The Federal Government has issued emergency contact details for Nigerian diplomatic missions across the Middle East to support citizens impacted by the escalating conflict in the region.

The advisory was issued in Abuja by the Federal Ministry of Foreign Affairs Nigeria and signed by its spokesperson, Kimiebi Imomotimi Ebienfa.

According to the ministry, the emergency contacts were provided to enable Nigerians living in or travelling across the Middle East to quickly reach diplomatic missions for assistance as tensions escalate in the conflict involving Iran, Israel, and the United States.

The ministry explained that the emergency contact list covers Nigerian diplomatic missions in 10 countries across the Middle East affected by the ongoing hostilities.

It urged Nigerians in the region to maintain communication with the nearest Nigerian embassy or consulate.

“Further to established communication channels publicised by the various Nigerian missions in the Middle East region, Nigerian citizens affected by the ongoing crisis should contact the following mobile numbers in case of emergency and also ensure that they are registered with the respective embassy or consulate in their country of residence,” the statement said.

The ministry listed the following emergency numbers for Nigerian diplomatic missions in the region:

  • Embassy of Nigeria, Tehran (Iran): +98 937 685 1897; +98 933 951 5348; +98 930 972 9965; +234 906 768 4063
  • Embassy of Nigeria, Tel Aviv (Israel): +972 547 115279; +234 706 4263944
  • Embassy of Nigeria, Abu Dhabi (UAE): +971 56 884 4130
  • Consulate-General, Dubai (UAE): +971 56 377 8678
  • Embassy of Nigeria, Kuwait (covers Bahrain): +965 9789 5737; +965 9950 9288
  • Embassy of Nigeria, Doha (Qatar): +974 3019 7102; +974 3019 7261
  • Embassy of Nigeria, Beirut (Lebanon): +961 78 861 779; +234 803 8954425
  • Embassy of Nigeria, Riyadh (Saudi Arabia): +966 542149456; +966 565695763
  • Consulate-General, Jeddah (Saudi Arabia): +966 56 096 5633
  • Embassy of Nigeria, Amman (Jordan – covers Iraq): +962 777 369428; +962 776 594020

Authorities advised Nigerians to register with their respective embassies to facilitate communication and emergency support.

The government had earlier issued a security advisory to Nigerians living in or travelling across Iran and other Gulf countries following the escalation of the regional conflict.

According to the ministry, diplomatic missions in Qatar, Bahrain, Kuwait, the United Arab Emirates and Saudi Arabia have been placed on high alert to provide consular assistance where necessary.

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Dangote Refinery’s Fresh N121 Per Liter Fuel Price Increase Triggers Another Nationwide Hike

Dangote Refinery’s increase in the gantry price of Premium Motor Spirit to ₦995 per litre from ₦874 over the weekend has pushed retail fuel pump prices across the country above ₦1,000 per litre.

According to Daily Post, some checks on Sunday showed that the 650,000-barrel-per-day refinery further increased its gantry by N121 per liter, the second increment in four days.

This followed its earlier N100 per liter petrol price hike, which the $20 billion refinery attributed to the crude oil price volatility caused by the war in the Middle East.

Meanwhile, Dangote Refinery’s latest price hike further makes imported fuel N185.17 per liter cheaper, according to the Major Energies Marketers Association’s March 2, 2026, industrial price data.

Dangote Refinery’s price hike has triggered MRS, Nigerian National Petroleum Company Limited, and other filling stations in Abuja to raise their petrol pump price between N967 and as high as N1,010 per liter as of Saturday.

Recall that crude oil prices surged by 9 percent to $90.90 and $93 per barrel as of Sunday morning, according to oilprice.com.

With the rising crude price following the Iran-United States-Israel war escalation in the Gulf region, domestic petrol may continue to surge.

In a statement on Thursday, Dangote Refinery ruled out fuel price stability but assured Nigerians of petrol supply.

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INEC Debunks Fake Registration Deadline Circulating Online

The Independent National Electoral Commission has dismissed circulating online graphics falsely claiming that it set March 26 as the deadline for government officials to resign if they intend to run for election.

In a statement on Friday posted via the commission official x handle, INEC emphasized that the information did not originate from the Commission and described the graphics as misleading and unverified.

The Commission urged members of the public, media organizations, and political stakeholders to disregard the circulating message entirely.

INEC reiterated that all official announcements are communicated exclusively through its verified channels, including

The official website: inecnigeria.org, Verified social media platforms, and Official press releases.

Citizens are encouraged to confirm election-related information through these channels and avoid sharing unverified content that could cause confusion.

The Commission reaffirmed its commitment to providing accurate, timely, and transparent information to the public.

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Face Of Nigerian Man Jailed In US For $5m COVID Relief Fraud And International Money Laundering

A 34-year-old Nigerian man, Adepoju Babtunde Salako, has been sentenced to 78 months in prison in the United States after pleading guilty to one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering.

The United States Attorney’s Office for the District of Colorado made the announcement on March 4, 2026.

As part of the plea agreement, Salako, who resides in Philadelphia, Pennsylvania, also agreed to plead guilty to seven counts of wire fraud in the District of Alaska.

The defendant was ordered to pay $2,581,002.50 in restitution to the victims of his crimes.

According to the plea agreement, throughout most of the year 2021, Salako was part of a conspiracy that stole more than $5 million in funds from the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL) program, and 30 state unemployment programs through several complex schemes.

In response to the COVID-19 pandemic, the federal government launched the PPP and EIDL economic relief programs and provided federal funds to state unemployment programs. In one scheme, Salako and two co-conspirators used information of identity theft victims to fraudulently obtain PPP Loans and unemployment benefits and submitted fraudulent applications for EIDL Loans.

In another scheme, co-conspirators, who were primarily located in Nigeria, used stolen identities and enlisted romance scam victims to obtain government money.

Salako’s role was then to receive money from the romance scam victims and government agencies and to launder fraud proceeds, primarily to China and Nigeria, for a fee of approximately 25 percent.

“Mr. Salako and his criminal associates exploited innocent people and stole millions of dollars from American taxpayers,” said United States Attorney for the District of Colorado Peter McNeilly.

“We are committed to finding and prosecuting fraudsters and, as this sentence demonstrates, these criminals will pay a serious price for their actions.”

“Salako was the point man in the U.S. for an international criminal organization that preyed on honest business owners and taxpayers, while also jeopardizing our national security,” said Amanda Prestegard, Special Agent in Charge, IRS-CI Denver Field Office.

“Our special agents are experts at uncovering complex financial crimes and today’s sentence is an example of their great work, our relationships with the U.S. Attorney’s Office and our federal and state law enforcement partners.”

“The U.S. Postal Service Office of the Inspector General is committed to upholding the integrity of the Postal Service and its workforce. Our office will continue to investigate those who choose to breach the public’s trust and engage in fraudulent activity. The sentence imposed on the defendant stands as a clear warning that serious consequences await anyone who exploits government resources to commit criminal acts,” said Matthew Modafferi, Special Agent in Charge of the United States Postal Service Office of Inspector General, Northeast Area Field Office.

“USPS OIG is thankful for the great longstanding relationships we have developed with our law enforcement partners and the U.S. Attorney’s Office to combat fraud.”

United States District Judge Charlotte N. Sweeny presided over the sentencing.

IRS Criminal Investigation Denver Field Office, the USPS OIG and the Colorado Department of Labour and Employment handled the investigation.

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War: We’re Coming In To Clean Up – Donald Trump Insists On Ground Invasion Of Iran

U.S. President Donald Trump has dismissed Iran’s claim that the country is ready for a potential ground invasion by American and Israeli troops.

Iran’s foreign minister, Abbas Araghchi, said on Thursday that the US and Israel should not try to invade by land, warning it would be a “big disaster” for them.

Araghchi said, ‘We are confident that we can deal with them.”

However, when speaking to NBC, the US leader said that Iran’s statement means nothing.

“It’s a waste of time. They’ve lost everything. They’ve lost their Navy. They’ve lost everything they could possibly lose,” Trump boasted.

The US leader again talked about his plan to shape Iran’s future, saying he already has someone in mind to lead the country.

“We want to go in and clear out everything. He said, “We don’t want someone who would take more than 10 years to rebuild.

“They need a good leader. There are some individuals I believe would perform well in the role.”

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I Won’t D!e Anytime Soon – 89-Year-Old Olusegun Obasanjo Declares

Former President Olusegun Obasanjo has stated that, at 89 years old, he has no plans of passing away anytime soon.

He condemned those circulating a fake letter in which he was purportedly speaking about his de@th, saying they were only wasting their time because “I dey Kampe.”

The former president disclosed this on Wednesday while delivering a colloquium titled “Burden and Blessing of Leadership: Reflections from Global Africa to the World” held as part of the ceremonies lined up to mark his 89th birthday in Abeokuta.

Obasanjo was born on March 6, 1937.

The former president said at 89 years he had no doubt that God did not make a mistake to keep him alive and reasonably healthy at his age.

He slammed those wishing him de@d, saying he would remain on the earth surface agile and healthy for as long as his Creator wanted.

“For my final note in this address, I want to point your attention to the work of some never-do-well.

“They publish and circulate a fake paper credited to me that I am writing, giving notice of my de@th, pafuka.

“That is their wish and surely not God’s wish for me. God has assured me that He has more for me to do on earth, and He has given me the wherewithal to do it.

“And those who wish otherwise are going to be dealt with by God Himself. I dey kampe as usual,” the former President said.

Earlier, the former President had lamented the leadership crisis that he said had, for decades, stifled Africa’s development, growth, and economic prosperity.

“Africa is not a problem to be managed but a promise to be fulfilled through honest, courageous, selfless, incorruptible and transformational leadership,” he said.

He explained that genuine leadership carried immense burdens, citing his own incarceration and near execution under the military junta of the late Gen Sani Abacha as part of that burden.

Highlighting Africa’s unrealised potential, he said, “By every measure of natural endowment, Africa should be a continent of prosperity, stability, peace, security and global influence.

“Instead, a major part of the continent remains a theatre of preventable disease and suffering, starvation, conflict, insecurity and poverty.”

Obasanjo identified leadership failure, not geography or history, as the primary cause.

“The primary cause is the failure of those entrusted with power to lead for the people and serve them rather than against them; to build institutions rather than subvert them; to welcome accountability rather than flee from it, to ensure equity and justice rather than enthrone injustice, inequality and inequity.”

He warned that many leaders arrive with promises but soon govern for personal or familial gain, undermine democracy, and erode institutions.

“The same young reformer who promised accountability begins to silence the press, harass the judiciary, and intimidate civil society. 

“All institutions become perverted only to serve the interest of the leader, his family, political accomplices and business interests,”he said.

To close the leadership gap, Obasanjo stressed the need for leadership formation, not just training.

“We must invest not only in teaching leaders what to do, but in forming leaders who are constituted and imbued with attributes and values to do the job the right way,” he said.

The former President urged young Africans to take democracy seriously and commit to governance that is accountable, transformational, transparent, and oriented toward the common good.

“A continent that fails its youth does not merely waste a generation; it plants the seeds of instability that will haunt the next several generations,” he said.

Reflecting on personal leadership experiences, Obasanjo described the loneliness and moral weight of decision-making, from commanding troops in the Nigerian Civil War to serving as Nigeria’s President from 1999 to 2007.

“The loneliness I speak of is the loneliness of final decision… your decision will affect millions of lives. That weight settles on one pair of shoulders – the leader’s shoulders,” he explained.

“I remember a few days before the Nigerian Civil War ended in January 1970. I was commanding the Third Marine Commando Division.

“My troops were positioned for the final push. Hundreds of thousands of Igbo civilians were trapped, starving, dying. On one side was the imperative of ending the war quickly to stop further suffering.

“On the other was the risk that a military advance would deepen the humanitarian catastrophe. No textbook told me what to do. No senior officer was going to make that call. It was mine alone. I made it. We saved lives by not shelling Owerri.  History has rendered its verdict,” he said.

He stated that a leader also carried the burden of being the repository of other people’s hopes — hopes that are often larger than any human being can satisfy.

Obasanjo said that “When I was elected President in 1999, the Nigerian people had endured years of military dictatorship, economic stagnation, and institutional decay.

“They did not elect a president, some of them thought; they elected a miracle performer. And when the miracle did not arrive in full measure overnight — as it never can — I could hear the murmurs of some of them. This is the burden: to be elevated by hope and measured by time, often simultaneously.

The former President said that with leadership also comes the burden of principle, adding that “True leadership requires the willingness to hold a position when it is unpopular, to say no when yes would be more convenient, to name a truth that powerful interests wish suppressed.

“This costs friendships. It costs alliances. It sometimes costs your freedom — as I learned in the prison under Sani Abacha, where I was held for three and a half years, tried before a kangaroo tribunal, and very nearly executed.”

He also highlighted the blessings of leadership, citing achievements such as Paris Club debt relief and the establishment of the Economic and Financial Crimes Commission to recover stolen public funds.

“The blessing of having done the right thing when doing the wrong thing would have been easier. That is the first blessing of leadership: the opportunity for moral self-definition. Not who others say you are,” he said.

On his personal well-being, Obasanjo affirmed that he remained strong at 89 and condemned those spreading false news of his de@th.

“God has assured me He has more for me to do on earth, and He has given me the wherewithal to do it. I dey kampe as usual,”he added.

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Controversy As FEC Approves Grid Asset Management Company To Fix Blackout In Nigeria

The establishment of Grid Asset Management Company (GAMCO), aimed at addressing the national grid and blackout issues, is sparking controversy across Nigeria.

The Federal Executive Council, FEC, made the approval at its meeting on Wednesday.

Minister of Information and National Orientation, Mohammed Idris, said the firm’s establishment would strengthen the electricity transmission value chain.

“The President has seen that where the problem is mainly in our quest to solve the power problem is largely in the transmission section,” the minister said while announcing the approval after the FEC meeting.

However, the approval has stirred controversy as experts in the country’s electricity sector raised alarm over duplication of roles with Nigeria Integrated System Operator, NISO, and Transmission Company of Nigeria, TCN, at a time the sector faces a liquidity crisis.

The Chief Executive Officer of the Association of Power Generation Companies, Dr. Joy Ogaji, queried the duplication of roles with NISO and GAMCO’s legality in line with the Electricity Act, 2023.

“This raises many questions. What is NISO’s role? Is this formation in accordance with the EA 2023? ⁠Is TSP being phased out or will it operate side by side? What asset is this GAMCO going to manage?” She queried.

Also, the President of the Nigeria Consumer Protection Network, Kunle Olubiyo, said the move could lead to massive job losses in TCN.

“What happenes to the existing staff of the current Transmission Company of Nigeria?” Olubiyo asked.

This comes as the country grapples with a drop in power supply in the past weeks, which NISO attributed to a shortage in gas supply.

GenCos and the Nigerian Labour recently clashed over the N6.6 trillion power sector legacy debt.

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Nigerian Govt Announces Fresh Tax Collection Policy For Small Businesses, Bans Checkpoints

The Nigerian government has unveiled a new tax collection framework aimed at widening the tax net to include small businesses.

This was disclosed in a statement on Wednesday by Nigeria’s Finance Ministry X account.

The policy document titled ‘Presumptive Tax Framework’ is expected to make tax payment simplified for traders, artisans, and other micro-enterprises.

Speaking on the new system, the Executive Secretary of the Joint Revenue Board, JRB, Mr. Olusegun Adesokan, said it prohibits the use of roadblocks by tax officials to collect levies.

“It also bans the mounting of roadblocks for the collection of taxes.”

On his part, Minister of Finance, Wale Edun, said the presumptive tax regime is meant to provide a simple and fair system for small businesses.

“The objective of presumptive taxation is not to overburden small businesses, but to provide a fair, simple, and predictable framework for tax compliance.

“Our fiscal strategy is anchored on expanding the tax base rather than increasing tax rates. Inclusion drives sustainability,” the minister stated at the scheme inauguration on Tuesday in Abuja.

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Shock As Fire Outbreak Hits Catholic Church In Wukari

A fire outbreak has once again been reported at St. Mary’s Catholic Church Wukari in the Wukari Local Government Area of Taraba State, sparking serious concern among members of the Catholic community and residents of the area.

The inferno happened a few months after the local government council secretariat was engulfed by fire.

The incident which occurred late night, reportedly engulfed parts of the Cathedral in what witnesses described as a sudden and distressing development.

As of the time of filing this report, the cause of the fire remains unknown, while the extent of damage and possible casualties have yet to be officially confirmed.

The development comes at particularly a difficult time for the Wukari Catholic Diocese, which is still grappling with the aftermath of recent incidents that reportedly led to the destruction of lives, parish churches, a rectory, and other valuable properties within the diocese.

Preliminary information indicates that the latest incident occurred about an hour before reports began circulating, leaving members of the Catholic faithful shocked and saddened as the day ended with the unfortunate development.

Despite the confusion that followed the outbreak, Fr. James Oliver, a priest in residence at the Cathedral, reportedly acted bravely during the incident.

He was said to have successfully rescued the Blessed Sacrament unharmed before the fire spread further within the church premises.

Members of the Catholic community and residents of Wukari have since expressed deep cincern over the situation. Many have taken to prayers, asking for God’s mercy and protection while hoping that no lives were lost in the incident.

Local authorities and emergency responders are expected to assess the damage and commence investigations to determine the root cause of the fire.

Meanwhile, some members of the church who spoke with Daily Post via telephone expressed concern that the situation might have been better managed if functional fire service vehicles were available within the council area.

According to them, the absence of operational fire service trucks across local government councils in the state has contributed to the difficulty in controlling fire outbreaks.

They noted that Wukari, where the incident occurred, is also the hometown of the incumbent state governor, Dr. Agbu Kefas.

The residents argued that the inability of the state government to adequately equip fire services across local government areas has made several infernos across the state difficult to contain.