News
High Diesel Cost: NARTO Seeks Review Of Petrol Freight Rate

The Nigerian Association of Road Transport Owners (NARTO) has called for an upward review of the freight rate for Premium Motor Spirit (PMS) due to the high cost of diesel in the country.
NARTO is also asking for access to foreign exchange at official rates for its members for procurement of spare parts for their vehicles to ensure safety and stability in the distribution of petroleum products across Nigeria.
NARTO’s President, Alhaji Yusuf Othman, made this known in an interview with newsmen, yesterday, in Lagos.
Othman said NARTO members were barely surviving as the price of diesel had continued to increase following the ongoing conflict between Russia and Ukraine.
He said: “Government has to do something urgently about the situation. It is affecting our operations adversely.
“For instance, you fuel a truck with 1,000 litres of diesel, the cost as of today in the market is about N750,000.
“At the end of the day, when you come to Abuja, you are paid N16 per litre for the 45,000 litres you are bringing in which is N720,000.
“That is even less than the cost of the diesel. You have to pay the loading fees, the driver allowance and other costs.
“What we are paid is by far lesser than our expenditure so, how can you cope?
“You cannot survive and some of our members have already parked their trucks and many others will soon join them.”
Othman said the current transport template payable under the N165 per litre petrol pump price was no longer sustainable despite government’s decision to continue subsidy on PMS.
He said apart from depriving the nation of huge funds that could be deployed to other critical areas, it was also encouraging smuggling of petrol across the border to neighbouring countries.
“We believe it is best to fix the price by ourselves but we cannot do that because the pump price remains N165 officially.
“We know the government is doing its best because this problem is not related only to Nigeria.
“The Pipelines and Products Marketing Company is giving us some diesel as palliative at a discounted rate. The marketers too are giving us but for how long can this continue?
“Businesses cannot be sustained on subsidy or palliatives. Businesses should be allowed to run according to market forces.
“The way forward is for government to allow the Petroleum Industry Act to perform maximally to its full potential, which include, the removal of subsidy on PMS.
“That is the only option because they cannot continue to sustain it,” Othman said.
News
ECOWAS Parliament adopts $26m 2026 budget, announces 25th anniversary plans
The ECOWAS Parliament has adopted a budget of 19,636,030 Units of Account (UA) (26 million dollars) for the 2026 fiscal year, and announced plans to commemorate its 25th anniversary in November.
The Speaker of the Parliament, Hadjia Memounatou Ibrahima, who announced this, said the development followed the recent conclusion of its 2025 Second Extraordinary Session in Port Harcourt, Nigeria.
She said the budget was adopted by the Parliament during plenary, stressing that, beyond being a mere accounting act, it was the engine of parliament’s commitment to West Africans.
”It will enable us to carry out our priority missions, including implementing the conclusions of the seminar on AI, while ensuring virtuous and transparent management of public funds entrusted to us.
”This budget represents a five per cent increase compared to the 2025 fiscal year budget, reflecting an upward adjustment of UA 939,233 from last year’s UA 18,996,897.
”Out of the budget of UA 19,636,030 for 2026, the sum of UA19, 368,394 representing 98.64 per cent is expected to be financed through the proceeds from the Community Levy, while UA257,636, equivalent to 1.36 per cent, will accrue from other sources,” Ibrahima said.
The News Agency of Nigeria (NAN) reports that the ECOWAS Community Levy is a mandatory 0.5 per cent tax imposed on goods imported into ECOWAS member states from non-ECOWAS countries.
Member states are under statutory obligation to pay the community levy, which is the main source of funding for ECOWAS institutions and their activities.
Ibrahima, however, expressed dismay that some members of the community were still defaulting on the payment of the levy, and warned that, going forward; such would be met with sanctions.
She also said that the commemoration of its 25th anniversary in November would highlight the ECOWAS Parliament’s achievements in deepening regional democracy, cooperation and growth, amid formidable challenges.
The Speaker described the forthcoming anniversary as “a chance to showcase resilience and chart a more innovative, youth-focused future for the community”.
News
NIGERIA AT 65: FUBARA HARPS ON UNITY, PEACE

The Governor of Rivers State, Sir Siminalayi Fubara, has begun the celebration of Nigeria’s 65th Independence anniversary with a Juma’at service where prayers were offered for the progress of the state and Nigeria.
Governor Fubara, who advocated for peace and unity of Nigeria during the prayers on Friday at the Rivers State Central Mosque, Port Harcourt, indicated that without peace, the accelerated development of Nigeria will remain in a limbo.
Governor Fubara, who was represented by Alhaji Abdurrazaq Diepriye, therefore urged citizens to remain patriotic.
According to him, “Allah has brought us this far. Without peace, we can not have progress and economic development. I call on all citizens irrespective of creed or tribe to remain patriotic.”
He thanked President Bola Tinubu for restoring peace in Rivers State while also using the forum to appreciate security agencies for their relentless effort in upholding the peace and unity of Rivers State and Nigeria.
The Chief Imam of Rivers State Central Mosque, Imam Ibrahim Yaloo, admonished Moslem faithful to always speak the truth, adding that those who obey Allah will be directed to good deeds and their sins forgiven.
Prayers were offered for Rivers State and Nigeria.
Other activities to mark the 65th Independence anniversary in the state include an Inter-denominational Church Thanksgiving Service on Sunday, 28th September and Parade Ceremony on Wednesday, 1st October.
News
Shettima departs New York for Germany after UNGA engagement

Vice-President Kashim Shettima departed New York on Sunday after representing President Bola Tinubu at the 80th session of the United Nations General Assembly.
In a statement released on Sunday by the VP media aide, Stanley Nkwocha, the Vice President is now headed to Germany, where he will hold strategic meetings with officials of Deutsche Bank.
The statement read, “Vice President Kashim Shettima has departed New York, United States, after successfully representing President Bola Ahmed Tinubu, GCFR, at the 80th Session of the United Nations General Assembly.
“During his participation at UNGA 80, VP Shettima secured UN Secretary-General António Guterres’ commendation for Nigeria’s bid for a permanent UN Security Council seat.
“He also showcased Nigeria’s $200 billion energy transition opportunity to global investors and strengthened strategic partnerships with the UK on trade, defence, and migration issues.”
Nkwocha added that the VP delivered Tinubu’s national statement, calling for UN reforms and a permanent seat for Nigeria at the UN Security Council, and “demanded Africa’s control over its $700 billion mineral wealth, and digital inclusion initiatives.”
“He also engaged with the Gates Foundation on healthcare and education expansion, positioning Nigeria as the natural hub for the African Continental Free Trade Area’s $3.4 trillion market.
“VP Shettima was seen off at John F. Kennedy International Airport, New York, by cabinet Ministers who were part of the UNGA 80 delegation and Nigerian Mission officials.”
The aide noted that Shettima will return to Nigeria immediately after his engagements in Germany.
The Tide source recalls that the VP departed Abuja, yesterday.
He led other Nigerian officials at the Assembly.
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