Nigeria could have spent as much as N53 trillion on petrol subsidies and seen the naira depreciate to about N3,500 to the dollar if the Federal Government had not removed the subsidy regime and unified the foreign exchange market, the Executive Chairman of the Nigeria Revenue Service (NRS), Dr...
petrol
Dangote Petroleum Refinery has announced a reduction in the price of aviation fuel, popularly known as Jet A1, from ₦1,750 to ₦1,650 per litre in a move aimed at easing financial pressure on airline operators across Nigeria. The company disclosed this in a statement issued by its media team...
NNPC Limited’s Chief Financial Officer (CFO), Adedapo Segun, has headlined a panel session at the Society of Petroleum Engineers (SPE) 2026 Oloibiri Lecture and Energy Forum (OLEF) held in Abuja, Nigeria, themed “Capital Allocation beyond Brownfield vs. Greenfield: Data-driven investment decisions.” In his remarks, Segun, who was represented by...
Borno State Governor, Professor Babagana Zulum, has directed the immediate deployment of 20 luxury electric buses for public use as part of measures to cushion the impact of the recent petrol price hike on residents. The buses, which were inaugurated by President Bola Ahmed Tinubu on 20th December, 2025,...
Nigerian National Petroleum Company (NNPC) Limited has launched a new crude oil grade, Cawthorne Blend, into the international market, with the maiden export cargo already en route to the Netherlands in what the company described as a major step toward boosting Nigeria’s crude oil production and strengthening its global...
President Bola Tinubu demonstrated foresight in July 2024, when he approved the use of the naira as the payment currency for crude oil supplied by the NNPC to the Dangote Refinery. Since the launch of the naira-for-crude initiative on October 1, 2024, Nigeria has experienced a strategic breakthrough amid...
Geopolitical tensions in the Middle East are reshaping Africa’s energy supply chain, as several countries on the continent look to Nigeria’s Dangote Petroleum Refinery to cushion the impact of disrupted fuel imports. The ongoing standoff involving Israel, the United States, and Iran has placed the Strait of Hormuz—one of...
Nigeria Labour Congress (NLC) has called on the Federal Government to urgently introduce relief measures to cushion the economic hardship facing millions of Nigerians following the recent spike in petrol prices. In a statement issued by its president, Joe Ajaero, the labour union said the sharp increase in the...
Dangote Petroleum Refinery has announced a significant reduction in the prices of petrol (PMS) and diesel (automotive gas oil), effective immediately. Under the new pricing structure, the gantry price of petrol has been cut from ₦1,175 to ₦1,075 per litre, while the coastal price dropped from ₦1,150 to ₦1,028...
Dangote Refinery increases petrol price to ₦1,175/litre, diesel to ₦1,620 as global oil prices surge
Dangote Refinery increases petrol price to ₦1,175/litre, diesel to ₦1,620 as global oil prices surge
Nigeria’s largest refinery, the Dangote Petroleum Refinery, has increased the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,175 per litre, while the price of Automotive Gas Oil (AGO), or diesel, has been raised to ₦1,620 per litre. The new pricing, which applies to fuel...
Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Federal Government to reduce the cost of crude oil supplied to the Dangote Petroleum Refinery, warning that the current pricing structure is contributing to the sharp rise in petrol prices across the country. National President of IPMAN, Abubakar...
Price of Premium Motor Spirit (PMS), popularly known as petrol, has surged to N1,000 per litre in Uyo, the Akwa Ibom State capital, following a sudden hike that has left many filling stations closed. Findings across the city revealed that most petrol stations, including several major marketing outlets, did...
Federal Ministry of Finance has announced the commencement of the implementation of Executive Order 9 of 2026, aimed at strengthening transparency and safeguarding Nigeria’s petroleum revenues. In a press statement issued in Abuja, the ministry disclosed that the Implementation Committee for the executive order held its inaugural meeting on...
Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, has issued a detailed public response to allegations linked to businessman Aliko Dangote, firmly denying claims of financial impropriety and formally inviting anti-corruption agencies to scrutinise his assets and transactions. In a statement...
For the third consecutive year, Nigerians are counting down to Christmas without the familiar anxiety of fuel scarcity — a development that supporters of President Bola Ahmed Tinubu say is worth celebrating. With exactly ten days to Christmas, petrol is readily available across the country, selling for under ₦900...
Socio-Economic Rights and Accountability Project (SERAP) has called on Nigeria’s leading anti-corruption agencies to urgently step in over fresh allegations of corruption within the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). In a statement, SERAP urged the Code of Conduct Bureau (CCB), the Economic and Financial Crimes Commission...
Petrol will sell for ₦739 per litre across Nigeria from Tuesday, as billionaire industrialist Aliko Dangote moves to ease fuel costs and clamp down on what he described as deliberate price manipulation by marketers. The Founder and President of Dangote Group made the announcement on Sunday during a press...
Aliko Dangote has delivered a message many Nigerians have waited decades to hear—this Christmas season will not be marked by the familiar, frustrating fuel queues. Speaking with State House Correspondents on Friday after what he described as a routine meeting with President Bola Tinubu at the Presidential Villa, Abuja,...
National Bureau of Statistics (NBS) has said the average retail price of a litre of petrol witnessed a drop from N1,184.83 in October 2024 to N1,052.31 in October 2025. The NBS made this known in its Petrol Price Watch for October 2025 released in Abuja on Wednesday. It stated...
Federal Government has suspended its earlier plan to impose a 15% import duty on Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (diesel). The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmed the development in a statement posted on its official X (Twitter) handle...