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Petrol, Diesel Prices Rise 86 Per Cent in Eight Months – Report

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The average prices of petrol and diesel have risen by 86 per cent in 2026, with the two products reaching their highest average price levels for the year by September 22, according to the latest fuel price trend report by price and promo.

The average price of Premium Motor Spirit, popularly known as petrol, rose to N1,378 per litre by September 22, while automotive gas oil, commonly known as diesel, increased to N1,899/litre.

It puts the increase in the price of petrol at 80.8 per cent from the January 13 base, while diesel recorded a 91.8 per cent rise over the same period. The average increase of the two products is 86.

3 per cent, which rounds to 86 per cent.

The report stated, “The latest price and promo fuel price trend shows renewed upward movement following the relative stability observed between April and July.

“Petrol rose to an average of N1,378 per litre by 22 September, while diesel increased to an average N1,899 per litre, the highest average price levels recorded for both products in the displayed 2026 series.”According to the report, petrol prices had increased sharply in March before remaining relatively stable at elevated levels between April and July. “After the sharp March increase, fuel prices stabilised at higher levels through July before rising again in August and September,” it added

The renewed increase came amid heightened volatility in the international energy market, according to the report, which noted that the domestic market remained exposed to movements in global energy costs.

“The renewed increase comes amid heightened global energy-market volatility, highlighting the domestic market’s continued exposure to shifts in international energy costs,” the report added.

The report indicated that the latest movement in fuel prices could have wider implications for transportation, logistics and the cost of distributing goods, given the importance of petrol and diesel to economic activities.

The report noted that fuel prices remained an important channel through which changes in energy costs could feed into transportation and other consumer costs.

The report further warned that the renewed increase in both products is a development to monitor because of its potential implications for the movement of people and goods.

It said, “The renewed increase in both petrol and diesel is therefore an important market signal to watch, particularly for its potential implications for mobility, logistics costs and the wider cost of moving goods through the market.”

The report’s figures show that the increase in diesel prices has outpaced that of petrol, with AGO rising by 91.8 per cent compared with PMS’s 80.8 per cent increase.

BUSINESS

DisCos Install 350,270 Meters in Q2 -NERC

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The Nigerian Electricity Regulatory Commission (NERC) on Tuesday said that Electricity Distribution Companies (DisCos) installed 350,270 meters in the Second Quarter of 2026.

The commission disclosed this in its 2026 second-quarter report, released in Abuja on Monday.

According to the commission, the 350,270 meters installed in the quarter under review reduced by 17.

97 per cent from 426,985 installed in 2026/Q1.

NERC said that 205,486 meters were installed under the Distribution Sector Recovery Programme (DISREP) framework.

It said 123,833 meters were installed under the Meter Asset Provider (MAP) framework and 13,028 meters were installed under the Meter Acquisition Fund (MAF) framework.

It added that 7,643 meters were installed under the Distribution Companies (DisCos) Financed framework, and 280 meters were installed under the Vendor Financed Framework.

The report showed that at the end of June, 7,743,839 out of the total 12,589,486 active registered customers in the Nigerian Electricity Supply Industry (NESI) were metered.

“As of the end of June 7,743,839 out of the total 12,589,486 active registered customers in the NESI were metered, translating to a metering rate of 61.51 per cent,” it said

”To protect unmetered customers from exploitation, the commission said it has continued to issue monthly energy caps for all feeders in each DisCo for states that have not transitioned.”it said.

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Customs Tightens Surveillance Along Lagos-Ogun Waterways

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By Tambaya Julius, Abuja

The newly appointed Acting Controller of the Western Marine Command, Deputy Comptroller Timothy Jonah, has pledged to intensify surveillance and intelligence gathering to tackle smuggling along the Lagos-Ogun waterways.

Jonah also promised to strengthen collaboration with sister security agencies and riverine communities, stressing that effective information and intelligence sharing would be central to his operational strategy.

He made the commitment while addressing officers and men of the command at its headquarters in Lagos.

His position was contained in a statement issued by the Customs Public Relations Officer, Deputy Superintendent of Customs Clarinet Nwosu, and made available to journalists in Lagos on Tuesday.

Jonah described the Western Marine Command as a hotspot for smuggling, saying sustained intelligence sharing would be crucial to strengthening operations and disrupting illicit activities.

He said the command would deepen its partnership with the Nigerian Navy, Marine Police and other security agencies to prevent the movement of illicit goods through the waterways.

The Acting Controller also disclosed plans to engage traditional rulers, riverine community leaders and other stakeholders to improve intelligence gathering and strengthen the fight against smuggling.

He, however, assured legitimate businesses operating along the waterways that enforcement would not be allowed to disrupt lawful economic activities.

According to him, trade facilitation remains a core responsibility of the Nigeria Customs Service, adding that enforcement must be carried out in a manner that supports legitimate trade.

Jonah noted that the World Customs Organisation places emphasis on safe and efficient trade flows, stressing that effective control measures were necessary to protect the integrity of the supply chain.

He assured compliant operators that the Customs Service had no issues with legitimate businesses, warning that those involved in illegal activities would face enforcement action.

He urged operators to comply strictly with existing customs and maritime laws, assuring legitimate traders of the Service’s support.

On officers’ welfare, Jonah said he would build on the welfare initiatives of the Comptroller-General of Customs, including health checks and sporting facilities, to improve officers’ fitness, morale and productivity.

He also announced that the command would begin visits to riverine community leaders and border kings from next week as part of efforts to strengthen community relations and improve intelligence gathering.

Jonah pledged to consolidate the achievements of his predecessor while introducing measures to further improve the command’s operational effectiveness.

The Acting Controller also charged officers and men to embrace teamwork, discipline and respect for constituted authority, stressing that operational success depended on collective effort.

He said no officer could succeed in isolation, adding that excellence in the Customs Service required cooperation, teamwork and unity of purpose.

Jonah reminded officers that the Nigeria Customs Service was a regimented organisation founded on discipline and respect for the chain of command.

He therefore urged them to follow established reporting channels and avoid bypassing their immediate supervisors when raising issues or seeking solutions.

He described unit heads as leaders at their respective levels and tasked them with developing strong problem-solving skills and taking responsibility for challenges within their areas of command.

According to him, effective leadership involves more than occupying a position; it requires the ability to solve problems, support colleagues and leave a positive impact in assigned areas.

Jonah also emphasised the importance of officers’ welfare, health consciousness, work-life balance and reputation management.

He urged officers to maintain a professional appearance, dress appropriately, demonstrate courage and professionalism when engaging sister agencies, and embrace continuous learning to improve their knowledge and effectiveness.

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2027 Elections: Customs Intensifies Border Security

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By Tambaya Julius, Abuja

The Nigeria Customs Service (NCS) has stepped up measures to strengthen border security ahead of the 2027 General Elections, with renewed efforts to check arms trafficking, smuggling and other cross-border crimes.

The NCS National Public Relations Officer, Abdullahi Maiwada, disclosed this on Tuesday in Abuja, saying the service was working with local and international partners to revive coordinated border management and establish an effective one-stop border post system.

Maiwada said the initiative had already commenced at the Mfum border with Cameroon and the Seme-Krake border between Nigeria and Benin Republic.

He said the move was aimed at making legitimate trade easier while reducing illicit activities along the country’s borders.

“In the area of collaboration, the NCS is working both with international partners as well as local partners to see that we reintroduce coordinated border management to do effective one-stop border post framework,” he said.

According to Maiwada, the ongoing work at Mfum and Seme-Krake followed a benchmarking mission to the Beitbridge border between Zimbabwe and South Africa.

He said the mission was undertaken to study the border management system and identify practices that could be adapted to Nigeria’s environment.

“We want to learn the best from them and also execute it in our own local environment,” he said.

The Customs spokesman said the service was also deploying modern technology to strengthen border surveillance and prevent the entry of items that could threaten national security.

He identified geospatial intelligence as one of the tools being deployed to improve the mapping and monitoring of Nigeria’s borders.

“Borders do not entail only the land borders; that is why we are introducing non-intrusive inspection technology.

“We are now marrying declarations with image analysis to make sure that items that are inimical to the security and well-being of Nigeria are not allowed into the country,” Maiwada said.

He added that the recent recruitment into the NCS was part of efforts to provide the manpower needed to effectively monitor the nation’s borders and tackle the movement of arms and other prohibited goods.

Maiwada also disclosed that the service was engaging border communities and other stakeholders through the Customs Community Consultative Forum.

He said the engagements were aimed at creating greater awareness about the dangers of smuggling and securing the cooperation of border communities in combating the menace.

The renewed measures come amid concerns over the possible movement of illicit arms ahead of the 2027 elections.

In August, the NCS Niger/Kogi Area Command handed over 189,000 rounds of seized live ammunition to the National Centre for the Control of Small Arms and Light Weapons (NCCSALW) as part of efforts to tackle arms proliferation.

Similarly, the Comptroller-General of Customs, Bashir Adewale Adeniyi, handed over 399 seized firearms to the NCCSALW in August.

Adeniyi warned that criminal networks could exploit Nigeria’s borders, ports and airports to move prohibited items ahead of the elections.

He said the NCS would intensify surveillance and enforcement operations to prevent illicit arms and other prohibited goods from entering or passing through the country.

The Customs chief also reaffirmed the service’s commitment to intelligence-led enforcement, stronger border surveillance and closer collaboration with sister security agencies to dismantle networks involved in arms trafficking and other cross-border crimes.

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