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KEGOZ MARKET WATCH KEGOZ BULLETIN · 26 OCT 2026 ·UPDATE
  • PMS · Depot average₦1,347.50/L▼ ₦0.50
  • DIESEL (AGO) · Depot average₦1,790/L▲ ₦1
  • COOKING GAS (LPG) · Depot average₦1,200/kg— ₦0
  • BRENT CRUDE · 23 Oct settlement$116.72/bbl▲ 3.1%
  • USD/NGN · CBN official · 21 Oct₦1,334.72/$1
  • USD/NGN · Parallel · 26 Oct bulletin₦1,360–1,390/$1
  • DANGOTE PMS · Gantry · 26 Oct bulletin₦1,325/L
  • DANGOTE AGO · Depot · 26 Oct₦1,820/L
  • DANGOTE LPG · Depot · 26 Oct₦1,045/kg
  • NNPC PMS · Abuja pump · 16 Oct₦1,405/L
Source: KEGOZ Daily Trading Intelligence Bulletin, Issue 055. Indicative prices; quote dates vary. Depot-average changes vs Issue 054. Basket includes older quotes: PMS median may overstate the current market; AGO median may understate it. Verify with suppliers before trading. Not a live feed.

IYC Demands Arrest of Vessel Owner Over Kula Boat Mishap

The Ijaw Youth Council (IYC) has called for the arrest and prosecution of the owner of a crude oil vessel and two tugboats belonging to the Ibeto Group over a boat mishap in Kula, Akuku-Toru Local Government Area of Rivers State, which claimed seven lives.

The council made the call during a joint solidarity visit by its Eastern and Western Zone delegations to the scene of the incident and affected communities in Kula Kingdom.

The IYC Chairman, Eastern Zone, Prince Datolu Sukubo, urged security agencies and the Rivers State Government to ensure a speedy investigation into the incident.

Sukubo warned that the council might take action to apprehend the vessel owner if the authorities failed to arrest him.

He also appealed to the Chief of Army Staff and the General Officer Commanding the 6 Division of the Nigerian Army in Port Harcourt to investigate the involvement of personnel of Sector 3 Command, Okrika, in the incident.

The IYC chairman further urged the Nigerian National Petroleum Company Limited and oil and gas regulatory agencies to monitor the activities of contracting firms and protect the rights of host communities.

He maintained that closer supervision of the Ibeto Group’s operations could have prevented the tragedy.

Sukubo, who lost his younger brother in the incident, expressed support for the seizure of the crude oil vessel and the two tugboats involved in the mishap.

He also suggested that the vessels be renamed after the victims in their memory.

Similarly, the IYC Chairman, Western Zone, Nicholas Igarama, accused the Ibeto Group of disregarding the rights of host communities and the value of human lives.

Igarama commiserated with the bereaved families and warned that the council would no longer tolerate the alleged mistreatment of host communities by oil and gas service companies.

He pledged the council’s commitment to ensuring justice for the victims, their families and the affected communities.

An IYC elder and former Chairman of the Council’s Elders Council in Kalabari Clan, Chief Lolo Braide, described the deaths as devastating, noting that the victims were promising young people from the Niger Delta.

Braide called for adequate compensation for the bereaved families and urged the Rivers State Government, NNPC Limited and relevant regulatory agencies to establish mechanisms for resolving disputes between host communities and oil industry operators to prevent future tragedies.

Another IYC elder from the Eastern Zone and Kalabari Clan, Anaye Kio, warned that the council might resort to further action if its demands for a prompt investigation and the arrest and prosecution of those found responsible were not met.

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