Tag: Fuel
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Just in: NNPC increases pump fuel price in less than one week
The Nigerian National Petroleum Company (NNPC) Limited has again jerked up the pump price of petrol, raising it to ₦925 per litre at its retail stations in Lagos. This marks the second hike in less than a week. Just two days ago, the national oil company increased the price to N₦915 per litre, sparking fresh…
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IPMAN threatens to hike pump price of fuel
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to hike the price of petroleum at the pump.
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Again, Dangote Refinery slashes fuel price by N15 now N875/litre
Dangote Petroleum Refinery & Petrochemicals has announced another reduction of N15 in the price of its high-quality Premium Motor Spirit (PMS). As a result of this reduction, Nigerians will now purchase the product at the following prices: N875 per litre in Lagos; N885 per litre in the South West; N895 per litre in the North…
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CNG in conflict: Alternative fuel Initiative struggles to deliver to Nigerians
Nigerians using compressed natural gas (CNG) are facing long queues at filling stations, sparking concerns about the effectiveness of the Presidential Compressed Natural Gas Initiative. Truck owners are now spending days waiting in line to refill their cylinders at stations like the NIPCO CNG station in Ibafo. Former National Secretary of the Independent Petroleum Marketers…
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JUST IN: Dangote refinery suspends sale of fuel in Naira
Dangote Petroleum Refinery has announced a temporary suspension of petroleum product sales in Naira. In a statement issued on March 19, 2025, the refinery explained that its sales of petroleum products in Naira
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Downstream price war: Govt fuel price drops to N774/litre
The landing cost of premium motor spirit dropped to N774.82 per litre, cheaper than the ex-depot price of Dangote Refinery’s fuel, which stood at N825 per litre. This is coming as price war in the downstream oil sector intensified on Tuesday as major oil marketers moved to offer a lower price against the gantry loading…
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Petrol imports rose to 105% to ₦15.42trn In 2024 — NBS
The latest data by the National Bureau of Statistics (NBS) on the foreign trade statistics, said the increase was from N7.51trn recorded in 2023. The development comes despite current increasing domestic refining capacity, especially at the 650,000 barrels-per-day Dangote Refinery and the ongoing rehabilitation of state-owned refineries. In December 2024, the Nigeria National Petroleum Company…
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Petroleum prices will continue to slide downward -Rewane
Seasoned economist and Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has predicted that the cost of premium motor spirit also known as petrol will continue to slide downward until June 2025. Both Dangote Refinery and the Nigeria National Petroluem Company Limited (NNPCL) have crashed the cost of the essential commodity in recent weeks,…
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Fuel scarcity loading as IPMAN threatens to embark on strike over unpaid claims
The Independent Petroleum Marketers Association of Nigeria has issued a seven-day ultimatum to the Nigerian Midstream and Downstream Petroleum Regulatory Authority to fulfil the payment of bridging claims amounting to N100bn. The association threatened to withdraw services if the amount was not paid to them before the deadline. This move follows the NMDPRA’s failure to…
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Energy group condemns high importation of fuel, amidst NNPCL decision to patronize local refineries
Despite the decision of the Nigerian National Petroleum Corporation Limited (NNPCL), to end Importation of Petroleum Products and patronize Dangote and other local refineries, there has been a rise in petrol importation by marketers in Nigeria over the last few days. This was contained in a statement signed by Dr. Robinson Onuh, the Executive Director…