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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…
Nigeria’s daily importation of Premium Motor Spirit, commonly known as petrol, climbed sharply by 96.6 percent in March 2026, reaching 5.9 million litres per day, up from 3.0 million litres per day recorded in February. The figures were published on Tuesday by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in its monthly fact…
The Dangote Petroleum Refinery has officially pivoted toward truck-based gantry loading to minimize rising coastal delivery costs. Management currently identifies a significant seventy-five naira per litre surcharge associated with traditional sea-based distribution methods. This strategic shift aims to insulate the Nigerian consumer from avoidable expenses embedded in the maritime logistics chain. The facility possesses the…
