Marketers upbeat on further fuel price cut as Tinubu stamps subsidy removal
Nigeria’s oil marketers are hopeful that petrol prices will continue to fall in the coming days. Currently, prices are between N935 and N965 per litre, with some stations in Abuja offering the lower prices. This price drop follows President Bola Ahmed Tinubu’s decision to remove the fuel subsidy, a move he says was necessary to […]
Dangote fuel sells at N935/litre at MRS cheaper than NNPCL
In a significant development for Nigerians, Dangote petrol is now being sold at a reduced price of N935 per litre at MRS filling stations across the country. This price is N105 cheaper than what’s being sold at Nigerian National Petroleum Company Limited (NNPCL) retail outlets, where petrol costs N1040 per litre. In Abuja, the price […]
Petrol To Sell ₦935/Litre From Today – IPMAN
As of today, December 23, 2024, petrol prices in Nigeria will drop to N935 per litre. This new price is a result of a recent agreement between the Independent Petroleum Marketers Association of Nigeria (IPMAN) and Dangote Refinery, which has adjusted its pricing structure to support a nationwide reduction in fuel costs. According to IPMAN’s […]
NNPCL Slashes Petrol Price to N899 Per Litre
In a move to ease the financial burden on Nigerians, the Nigerian National Petroleum Company Limited (NNPCL) has slashed the price of Premium Motor Spirit (PMS), commonly known as petrol, to N899 per litre. This reduction comes after the price was previously set at N1,020 per litre. The Petroleum Products Retail Outlets Owners Association of […]
BREAKING: Dangote Slashes Petrol Price To N899 Per Litre
In a move aimed at offering relief to Nigerians ahead of the holiday season, Dangote Petroleum Refinery has reduced the price of petrol (Premium Motor Spirit, PMS) to N899.50 per litre. This change, announced early Thursday morning, is set to provide some much-needed comfort to consumers during this busy time of year. The company said […]
Dangote Refinery Slams NNPCL For Claiming It Gave The Company $1bn Loan
Dangote Refinery, owned by the Dangote Group, has rejected claims by the Nigerian National Petroleum Company Limited (NNPCL) that it received a $1 billion loan from the state-owned oil firm. The refinery’s spokesperson, Anthony Chijiena, referred to the claim as misinformation. The issue arose when NNPCL’s spokesperson, Olufemi Soneye, stated that NNPCL secured a crude-backed […]
NNPCL Supported Dangote Refinery Establishment With $1 Billion Loan – Official
The Nigerian National Petroleum Company Limited (NNPCL) has announced securing a $1 billion loan, backed by crude oil, to support the Dangote Petroleum Refinery. This move aims to address liquidity challenges and ensure the 650,000 barrels-per-day refinery becomes fully operational. Speaking at the Energy Relations Stakeholders Engagement in Abuja, Mr. Olufemi Soneye, NNPCL’s Chief Corporate […]
Dangote Refinery Extends Export To Three African Countries
The Dangote Refinery has recently expanded its reach by exporting Premium Motor Spirit (petrol) to several African countries, including Cameroon, Angola, Ghana, and South Africa. This marks a significant achievement for the refinery, which is part of the larger Dangote Industries, founded by Nigerian billionaire Aliko Dangote. Devakumar Edwin, the Vice President of Oil and […]
Marketers Start Direct Fuel Supply from Dangote Refinery
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has started buying petrol directly from the Dangote Refinery. This milestone agreement aims to streamline fuel distribution and reduce costs by cutting out middlemen. IPMAN began lifting petrol from the Dangote Refinery in late November 2024. Initially, the products were accessed through MRS Oil as a temporary […]
Fuel Imports Reach 2.3 Billion Litres Despite Dangote and Port Harcourt Refineries
Nigeria’s fuel imports have surged to 2.3 billion litres between September 11 and December 5, 2024, even though the Dangote and Port Harcourt refineries have begun production. This continued importation has raised questions about Nigeria’s fuel supply strategy. The Dangote Refinery, with a production capacity of 650,000 barrels per day, started operations on September 15, […]