Depot prices of petrol and diesel have fallen further in Lagos, according to market data.

The new prices

Figures published on Thursday, 12 November 2026, show that the average depot price of petrol dropped by ₦29 per litre, from ₦1,239 to ₦1,210, a decline of about 2.3 per cent. Some depots were reportedly selling at around ₦1,200. The average price of diesel also fell, to about ₦1,688 per litre.

Why it matters

Depot prices are what marketers pay before selling to motorists, so lower wholesale prices could lead to cheaper petrol at filling stations in the coming days. The cuts came despite a rebound in global crude oil prices linked to renewed tension between the United States and Iran.

Background

Petrol prices have been easing in recent days. Dangote Refinery reportedly cut its loading price to ₦1,250 per litre after switching to a pricing system linked to global petrol prices, and MRS filling stations in Abuja reduced their pump price to ₦1,399 per litre.

Nigeria's senior civil servants have called for a new national minimum wage of ₦300,000.

The demands

At a National Executive Council meeting of the Association of Senior Civil Servants of Nigeria (ASCSN) in Abuja, reported on Thursday, 12 November 2026, union president Shehu Mohammed said the current ₦70,000 minimum wage had steadily lost value amid economic pressures and could no longer meet workers' basic needs. The union also demanded prompt payment of outstanding gratuities and the creation of state police, saying insecurity continues to put workers and their families at risk.

Collaboration call

Senior lawyer Femi Falana addressed delegates under the theme 'From Confrontation to Collaboration', arguing that lasting progress between labour and government depends on how the authorities treat workers.

Background

The ₦70,000 minimum wage was signed into law in 2024 after months of negotiations and strike threats by organised labour. The federal government had not responded to the new demand at the time of writing.

The University of Nigeria, Nsukka (UNN) has confirmed that four of its students have died after an off-campus party in Nsukka, Enugu State.

What happened

Speaking to journalists on Thursday, 12 November 2026, Vice-Chancellor Professor Simon Ortuanya said 10 students were involved in the incident at the party on Wednesday, 11 November, which had been organised to celebrate a friend finishing his final-year examinations. He said the four who died allegedly consumed substances believed to be a mixture of alcohol and drugs. The other six are receiving treatment in different hospitals. Earlier reports had put the death toll as high as seven.

University responds

The Vice-Chancellor described the deaths as one too many and declared three days of mourning in honour of the students. He also corrected reports that all the students were from the Faculty of Pharmaceutical Sciences, saying they came from different departments. The exact substances involved have not been officially identified, and it is not clear whether the police have opened an investigation.

Police investigate

The Enugu State Police Command said on Thursday evening that it had opened an investigation into the deaths. It said the four victims, two men and two women, fell ill after allegedly drinking alcoholic beverages at a gathering at a hostel in Nsukka and were confirmed dead on arrival at hospital. Police said the drinks had been recovered from the scene and the bodies taken to a mortuary for autopsy.

Background

Drug and alcohol misuse among young people has become a growing public health concern in Nigeria.

Households in Lagos, Ogun and Oyo states are paying much more for cooking gas after a sharp rise in prices over the past month.

The new prices

According to reports on Thursday, 12 November 2026, retail prices of liquefied petroleum gas (LPG) at several outlets rose from around ₦1,200 to ₦1,800 per kilogramme. In parts of Ogun State, including Magboro, Mowe and Ibafo, some residents said they were paying as much as ₦1,900 per kg. In Oyo State, prices reportedly range from about ₦1,450 per kg at direct outlets to between ₦1,500 and ₦1,650 at neighbourhood retailers.

Why prices rose

The increase follows a reported 31.8 per cent rise in depot prices, from ₦1,100 to ₦1,450 per kg, which has pushed up costs along the supply chain.

Impact on households

Some households say they are considering returning to charcoal because they can no longer afford gas.

Background

The latest increase comes even as petrol prices have eased slightly, with Dangote Refinery reportedly cutting its petrol price this week.