MRS filling stations, a partner of Dangote Refinery, have raised petrol prices to N930 per litre in Lagos and N950 per litre in Abuja.

On Saturday, the MRS station along Kubwa Expressway in Abuja was already selling at the new rate, marking an increase of N70 to N80 per litre from the previous prices of N860 and N880.

A motorist in Abuja reacted to the price hike, saying it was expected after Dangote Refinery announced that it had stopped selling petrol in Naira.

The refinery had revealed on March 19 that it would no longer conduct petrol sales in local currency, a move that has now led to adjustments in pump prices across several stations.

Other filling stations in Abuja have also increased their rates. Empire Filling Station in Gwarimpa, for instance, raised its price to N975 per litre from N945.

Meanwhile, the Nigerian National Petroleum Company Limited (NNPC) maintained its pump price at N880 per litre in Abuja as of Saturday evening.

Korean soju, a clear, distilled liquor traditionally made from rice, has experienced a significant surge in popularity across the United Kingdom. This rise mirrors the growing appreciation for Korean cuisine and culture among British consumers.

Leading UK supermarkets, including Sainsbury’s, Tesco, and Lidl, have expanded their product ranges to include various soju brands. For instance, Sainsbury’s has introduced products like Jinro Chamisul Soju, which offers consumers the convenient access to this traditional Korean spirit.

Modern soju producers have introduced fruit-infused variants and creative packaging to appeal to younger audiences.

Flavors such as green grape, grapefruit, plum, and strawberry have become particularly popular. Brands like Jinro have capitalized on this trend, offering products like Jinro Green Grape Soju and Jinro Grapefruit Soju, which provide a sweeter, more approachable taste profile.

The rising interest in soju aligns with the broader wave of Korean cultural influence, often referred to as the “Korean Wave” or “Hallyu.” This encompasses the global popularity of K-pop, Korean cinema, and television dramas, which have collectively heightened curiosity about Korean culinary traditions.

According to a 2023 survey by the Department for Culture, Media and Sport (DCMS), 64.1% of British respondents expressed willingness to purchase Korean food and services, the highest rate in Europe.

HiteJinro, a leading soju producer, reports a remarkable average annual export growth rate of 73% to the UK over the past three years. This underscores the expanding market and the increasing acceptance of soju among British consumers.

Industry experts suggest that the innovative approaches of Korean drinks brands, including the introduction of single-serving flavored options and appealing packaging, have significantly contributed to this upward trend.

High street fashion retailer Superdry is closing its Bradford Broadway store today, marking another chapter in the ongoing challenges faced by traditional retail outlets. The store is hosting a significant clearance sale, offering customers substantial discounts as it prepares to shut its doors for good.

This closure is part of a trend affecting the UK’s high streets. In 2024, approximately 13,479 retail stores closed across the country, equating to an average of 37 closures per day—a 28% increase from the previous year. The Centre for Retail Research anticipates that this trend will continue, forecasting around 17,350 retail site closures in 2025.

Several factors contribute to these widespread closures:

• Shift to Online Shopping: Consumers are increasingly favouring online shopping platforms, reducing foot traffic in physical stores.

• Rising Operational Costs: Retailers are grappling with escalating expenses, including higher national insurance contributions and increased minimum wage requirements.

• Economic Pressures: High inflation rates have led to reduced consumer spending, impacting retailers’ revenues.

Other retailers, such as Beales and New Look, are also closing various branches due to financial pressures. Beales, for instance, will close its last remaining store in Poole on May 31, while New Look plans to shut nearly 100 outlets.

The decline in traditional high street shopping has resulted in significant job losses, with nearly 170,000 retail jobs lost in 2024 alone, marking the highest annual loss since 2020. Experts predict that 2025 may bring even worse outcomes for retail jobs and store closures.