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Nigeria’s largest private refinery has lowered its wholesale fuel prices to stay competitive in a newly deregulated domestic market. The Dangote Petroleum Refinery reduced its gantry price for premium motor spirit to N1,250 per litre, down from N1,275 per litre. The facility operators also slashed the wholesale price of automotive gas oil by N100, bringing…
The Nigerian National Petroleum Company Limited has urged the Federal High Court in Lagos to dismiss the Dangote Petroleum Refinery’s bid to halt fuel importation, warning that the refinery’s products are sold at “significantly high and fluctuating market prices” and that granting its requests could hand it monopoly control of Nigeria’s downstream petroleum sector….
Nigerian consumers may soon experience relief at the pumps as global crude oil prices plummet following significant progress in peace talks between the United States and Iran. Brent crude dropped sharply from one hundred and eleven dollars last week to ninety-seven dollars on Monday morning. The rapid decline tracked optimistic statements from Washington regarding the…
The Nigerian National Petroleum Company Limited has launched a fierce legal defense of fuel imports to prevent a private monopoly. In a counter-affidavit filed at the Federal High Court in Lagos, the state oil firm urged judges to dismiss a lawsuit by Aliko Dangote. The billionaire’s twenty-billion-dollar refinery wants the court to void import permits…
The Dangote Petroleum Refinery has reduced the price of its aviation fuel to 1,650 Naira per litre from 1,750 Naira. The 100 Naira reduction follows a series of state-led interventions designed to prevent the grounding of domestic flight operations. Alongside the price cut, the refinery has introduced a 30-day interest-free credit facility for registered oil…
S&P Global Ratings raised Nigeria’s long-term sovereign credit rating to ‘B’ from ‘B-‘, citing three years of sustained structural adjustments. The American ratings agency affirmed the short-term outlook as stable. This decision follows similar upward revisions by Fitch Ratings and Moody’s Investors Service, signaling a broader recovery of international confidence in the management of the…
Aliko Dangote has renewed his legal war against the Nigerian government over fuel imports. The billionaire’s 650,000-barrel-per-day refinery filed a fresh lawsuit at the Federal High Court in Lagos to nullify import permits granted to marketers and the state oil company. The legal challenge targets the Nigerian Midstream and Downstream Petroleum Regulatory Authority. The regulator…
Nigeria consumed 1.53 billion litres of petrol in April, as the Dangote Refinery cemented its status as the nation’s primary fuel source. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that daily consumption averaged 51.1 million litres. This volume highlights a significant reliance on a single private entity for energy security….
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued new petrol import licences to six firms, authorising the importation of 720,000 metric tonnes. This move, confirmed on May 6, 2026, signals a pivot in the federal government’s downstream strategy, which had recently prioritised domestic refining. The licensed companies Matrix, AA Rano, AYM Shafa,…
Aliko Dangote’s refinery has scrapped its brief attempt to raise the price of petrol at its gates. On Wednesday, the firm reversed a N75 increase that had pushed the depot price toward N1,350 per litre. The cost for marketers has now returned to the N1,275 benchmark. This pivot follows a week of confusion that saw…
