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Nigerians bought diesel at N3,300 per litre in May: Statistics Bureau

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The National Bureau of Statistics says the average retail price of a litre of diesel increased from N1,758.26  in May 2025  to N3,277.47 in May  2026

The NBS said this in its May 2026 Diesel Price Watch.

The report said that the May 2026 price of N3,277.47 per litre amounted to an 86.40 per cent increase over the N1,758.26 paid in May 2025.

On a month-on-month basis, the price increased by 32.44 per cent from the N2,474.69  per litre recorded in April 2026.

In the state profile analysis, the report said the highest average price of diesel in May 2026 was recorded in Nasarawa at N3,785.84 per litre, followed by Plateau at N3,576.40 and Ebonyi at N3,574.75.

It said that the lowest price was recorded in Kogi  at N2,823.85 per litre, followed by Benue at N2,961.33 and Kebbi  at N3,016.14.

In addition, the analysis by zones showed that the North-West had the highest price of N3,313.60 per litre, while the South-West recorded the lowest price at N3,227.55.’

(NAN)

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“Smart City FC Is Ready And Motivated For The New NNL Season” – Abiodun Obafemi

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Ahead of the 2026/2027 NNL season, teams have intensified preparations with the  recruitments of new players and officials, as well as, engaging in trial games.

Lagos based NNL side Smart City Football Club, are leaving no stones unturned as it has doubled up its preparations to ensure it gets the much desired ticket to the topmost cadre of Nigerian football, Nigeria Premier Football League.

Read Also: NFF Reform: Ogedegbe Writes Tinubu, Calls for Total Rebuilding of Nigerian Football

Speaking exclusively with Sports Chronicle Magazine, Abiodun Obafemi, who is the sporting director of Smart City FC, disclosed that the team is well prepared and better motivated ahead of the season’s task.

“We’re presently done with recruitments, we rounded up everything last week. So, we’re basically in the last phase of our preparations, with grade A friendly games lined up,” he disclosed.

Speaking on the targets of the management, Abiodun Obafemi, MON and a 1996 Olympic games gold medalist, said, “the target of all, including coaches, players and the leadership of team, of course, is to pick the sole NPFL ticket in our group.”

“We don’t just want to talk the talk, we want to do it this time around to make amend for the near misses of the last two seasons,” the former Super Eagles and Stationery Stores defender was full of praises for the management of the team for its commitment to the welfare and improvement of the team, ahead of the new football league season.

“In terms of motivation, the management has usual, has done their bit. And I can say that no Smart City player or official is being own a dime.

“Muchmore, there has been additional provisions of quality training materials,  as well as, world class and modern football equipment,” he remarked gleefully.

“In my roles as a senior executive of the club, I  remain committed to the development of the club, as well as, ensuring that all the units of the team, functions at their best to meet our seasonal goals. And our main objective this season, is promotion to the NPFL, which is long overdue,” he added.

Smart City FC have been placed in group B, and are expected to competed for the sole ticket to the NPFL, against other teams in the group, including, Beyond Limits FC, Ekiti United, Solution FC, Akwa United, Dokkal Khairu, Abakaliki FC, Bayelsa United and Right2Win FC.

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Sovereign Trust Insurance Receives NAICOM Recapitalisation Certificate

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Sovereign Trust Insurance Plc alhas received its RecapitalisationCertificate from the National Insurance Commission (NAICOM), marking a significant milestone in the Company’s ongoing growth and transformation journey.

The certificate, issued following the Company’s successful compliance with the recapitalisation requirements of the National Insurance Commission, further reinforces Sovereign Trust Insurance Plc’s financial capacity, operational resilience and commitment to delivering sustainable value to its policyholders and other stakeholders.

Speaking on the development, the Managing Director/Chief Executive Officer of Sovereign Trust Insurance Plc, Dr. Lucas Durojaiye, expressed delight at the milestone, describing it as a testament to the Company’s resilience, strategic focus and the confidence of its stakeholders.

“The receipt of our recapitalisation certificate from NAICOM is a significant milestone for Sovereign Trust Insurance Plc. It reflects the strength of our business, the confidence of our shareholders and the dedication of our Board and employees to building a stronger and more resilient insurance institution.

“This achievement positions us for the next phase of our growth journey. We remain committed to strengthening our capacity to underwrite risks, deepening our market presence, enhancing our service delivery and creating greater value for our policyholders and stakeholders.

The recapitalisation milestone also underscores STI’s commitment to supporting the development of Nigeria’s insurance industry by maintaining strong corporate governance, improving operational efficiency and providing innovative insurance solutions that respond to the evolving needs of individuals, businesses and institutions.

With the certification, Sovereign Trust Insurance Plc is poised to further leverage its strengthened capital base to pursue strategic growth opportunities, enhance its underwriting capacity and reinforce its position as a trusted partner in risk management.

The Company appreciates its shareholders, Board of Directors, management, staff, regulators, business partners, brokers, agents, customers and other stakeholders for their continued confidence and support throughout the recapitalization process.

The post Sovereign Trust Insurance Receives NAICOM Recapitalisation Certificate appeared first on Business Today NG.

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