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Petroleum marketers returned to naira transactions at the Dangote Petroleum Refinery on Wednesday after a week of dollar denominated pricing that unsettled Nigeria’s downstream market, but the relief arrived with a higher bill, as the refinery lifted its ex depot petrol price by N140 per litre. A notice issued by the refinery’s commercial department,…
Fuel marketers have resumed lifting petrol and diesel from private depots across the country after nearly a week of disrupted loading, even as ex depot prices climbed again in Lagos and moved unevenly in other coastal hubs, signalling that the volatility unleashed by Dangote Petroleum Refinery’s shift to dollar pricing is far from over….
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…
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…
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…
The Federal Competition and Consumer Protection Commission has accused operators in Nigeria’s downstream petroleum sector of possible consumer exploitation, warning that pump prices have refused to fall in step with a steep collapse in global crude oil prices. In a statement issued on Sunday by its Director of Corporate Affairs, Ondaje Ijagwu, the commission…
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…
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….
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…
