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Nigeria’s daily petrol imports surged by 207 per cent in June, reversing months of steady progress toward domestic energy self-sufficiency. Fresh data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority reveals that daily foreign fuel receipts jumped to 18.1 million litres, up from 5.9 million litres in May. The massive influx of offshore fuel…
Aliko Dangote has all but concluded a $2.5bn private share placement for Dangote Petroleum Refinery and Petrochemicals FZE, clearing the path for what is widely projected to become the largest initial public offering in Africa’s history and one of the boldest tests yet of the continent’s ability to finance its own industrial ambitions from…
Nigeria’s downstream petroleum sector is bracing for renewed pressure on the foreign exchange market after Dangote Petroleum Refinery scrapped naira pricing for petrol, diesel and aviation fuel, a decision that could oblige marketers to source as much as 1.84 billion dollars every month to keep the pumps running and tie domestic fuel costs directly…
The naira era for petrol at Nigeria’s biggest refinery has come to a close. Dangote Petroleum Refinery has switched the sale of Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), and Aviation Turbine Kerosene (ATK) to the United States dollar, ending the naira based system introduced barely twenty months ago and setting off fresh…
Independent domestic fuel dealers are pushing for a full restoration of their direct importation rights, claiming they can lower pump prices below N800 per litre. Abubakar Maigandi, the national president of the Independent Petroleum Marketers Association of Nigeria, announced the target following an emergency meeting with state energy officials. The bold prediction reflects a growing…
African governments are systematically rewriting the extractive bargain by demanding local processing of their natural resources. From Kenya to Ghana and Mali, states increasingly insist that critical minerals undergo domestic refinement before export. This policy shift targets rare earths, lithium, graphite, copper, and nickel. The global energy transition has triggered an insatiable demand for these…
The Federal Competition and Consumer Protection Commission (FCCPC) has warned oil marketers against exploiting consumers, saying current retail petrol prices do not reflect the sharp decline in global crude oil prices, and has threatened sanctions against companies found guilty of anti-competitive conduct. In a statement issued on Sunday, the Commission said its ongoing surveillance…
Africa’s largest refinery has pushed back against allegations that petrol produced at its Lagos facility is shipped to Lomé in Togo and then quietly returned into the Nigerian market, describing the claims as commercially illogical, contractually barred, and unsupported by trade data. Dangote Petroleum Refinery and Petrochemicals issued the rebuttal on Tuesday, June 23, 2026,…
Nigeria has approved a fresh round of petrol and diesel imports for the July to September quarter, a move that signals renewed pressure on domestic fuel supply even as the country pushes to lean more heavily on local refining. The Nigerian Midstream and Downstream Petroleum Regulatory Authority issued the clean product import permits to…
Nigeria shipped Premium Motor Spirit worth N105.50bn to Togo in the first three months of 2026, a figure that captures how sharply the country’s downstream fortunes have turned after decades of dependence on imported fuel. The export value was contained in the National Bureau of Statistics Foreign Trade Statistics Report for the first quarter…
