Dangote Petroleum Refinery says it has reduced the ex-gantry price of premium motor spirit (PMS), also known as petrol, by N50 per litre.

In a notice to customers, the refinery said the ex-depot price has been adjusted downward from N1,175 per litre to N1,125 per litre, while the coastal supply price was reduced from N1,495,215 per metric tonne to N1,428,165 per metric tonne.

The refinery attributed the price reduction to the easing of tensions in the Middle East, which has led to a decline in global energy prices.

The latest adjustment comes barely a week after the refinery reduced its ex-gantry petrol price by N75 per litre to N1,175 from N1,250, citing the de-escalation of geopolitical tensions in the Middle East and the resulting impact on energy markets.

The refinery had increased petrol prices several times earlier in the year amid supply concerns triggered by tensions in the Middle East and disruptions to global oil flows.

In March, the plant raised its ex-gantry price to N1,175 per litre following a sharp increase in crude oil prices linked to the conflict in the region.

The latest reduction is expected to influence depot and retail pump prices across the country as marketers adjust to the new pricing template.

Global oil prices have fallen since the United States and Iran signed a peace agreement in Switzerland that will mark the start of a 60-day negotiation period.

Brent crude, the global oil benchmark, dropped to $72.97 per barrel — lowest since February, when the conflict began.

Oba Rasidi Ladoja, the Olubadan of Ibadanland has installed 18 Mogajis and 11 Baales at an event held at the Banquet Hall of the Olubadan Palace, Oke Aremo, Ibadan.

The Olubadan is the prescribed and consenting authority for the installation of traditional rulers in Ibadanland.

This was disclosed in a statement by the press release issued by the Chief Press Secretary to the Olubadan of Ibadanland, Chief Solomon Ayoade, after the installation ceremony.

Speaking through the Ashipa Olubadan of Ibadanland, Oba Salawudeen Amidu Ajibade, and the Ekerin Balogun of Ibadanland, Oba Akeem Mobolaji Adewoyin, respectively, the newly installed Chiefs were reminded that, as accredited representatives of Olubadan and the Olubadan-in-Council, they should avoid anything that could tarnish the good image of Olubadan and Ibadanland.

Addressing the new chiefs, Oba Ladoja said, “As my Ambassadors, anywhere you find yourselves, do not be involved in any nefarious activity so that you will not be sanctioned.”

“Land grabbing is now the order of the day in Ibadanland, frequently reported at the palace, and it rarely occurs without the support of traditional rulers.

“Consequently, I enjoin you all not to encourage or support land-grabbing activities, as anyone caught will be prosecuted in the court of law and their bail will be withdrawn.

Ibadan chief seeks Olubadan’s intervention in Idi Ose Baale stool dispute

“As the Chief Security Officers in your respective domains, I urge you to be security-conscious, vigilant and proactive on the issue of insecurity that is seriously threatening our existence.”

The new Mogajis are Prof Abideen Olaitan Olaiya, Dr Surajudeen Olayiwola Bello, Engineer Ridwan Adesina Kareem, Messers Ayoade Toyyib Ajibola, Salam Kamil, Raji Musiliudeen Abiola, Adeleke Muritala, Ibukun Taiwo Molomo, Afolabi Kazeem Aderemi and Folarin Saheed Adewale.

Other Mogajis are Messers Adeniyi Noah Adediran, Rahmon Akintunde Alawode, Olatinwo Morufu Ojeniyi, Festus Olalekan Fadare, Onashola Semiu Adedotun, Adekunle Adewale Olanrewaju, Fagunwa Kamorudeen Abiola and Babalola Taiwo Abolaji.

The newly installed Baales were Messers Azees Muideen Oyesina, Fajinmi Simon, Adetunji Alalade, Yisau Adewale Adeleke, Rafiu Lawal Akinlapa, Taiwo Atanda Babalola, Ojo Ebenezer Adeniji Adewumi Ismaila Akano.

Others were Messers Ademola Oderinde Ogundepo, Musibau Morounranti Adefioye, Taiwo Ajayi Osoaro and Olalere Sobur Omowumi.

Present at the installation Ceremony were Otun Olubadan of Ibadanland, Oba Eddy Oyewole, Otun Balogun of Ibadanland, Oba (Dr) Kolawole Adegbola, Osi Balogun of Ibadanland, Oba Abiodun Kola – Daisi, Ashipa Olubadan of Ibadanland, Oba Salawudeen Amidu Ajibade, Ashipa Balogun of Ibadanland, Oba Abiodun Azees, Ekerin Balogun of Ibadanland, Oba Akeem Mobolaji Adewoyin, Iyalode-in-Council members, traditional and religious leaders, as well as distinguished invited guests.

Six people have been rescued from the three-storey building that collapsed on Thursday at the Alakija area of Amuwo-Odofin Local Government Area of Lagos state.

Lagos state  commissioner of information, Gbenga Omotosho,
provided the update in a  statement published via X on Thursday.

“Building collapse at Alakija. A three-storey commercial building has collapsed at Alakija Bus Stop, Satellite Town. Six people have been rescued from the rubble,” the commissioner said.

“The search is on for others. Emergency workers are at the site.”

The commerical building, which houses multiple shops of small businesses, collapsed on Thursday morning.

Victims are currently trapped under the rubble as emergency responders have commenced rescue operation at the scene.

Emergency responders are currently using an excavator to pack out the rubble to rescue victims.

However, the Lagos State Fire and Rescue Service, in a statement, said 10 persons have been rescued alive with varying degrees of injuries

“As of the time of this report, 10 persons have been rescued alive with varying degrees of injuries and have been handed over to medical personnel for necessary treatment,” the statement reads.

“Search and rescue operations remain ongoing as emergency responders continue efforts to locate, extricate, and evacuate any persons who may still be trapped beneath the debris.”