Indian refiners abandon Russia for Nigerian crude, as Dangote Refinery relies on US
Indian oil refiners have switched from Russian crude to Nigerian oil, while the Dangote Refinery in Nigeria is now depending heavily on West Texas Intermediate crude from the United States. This change follows a warning from US President Donald Trump, threatening sanctions on India if it continued to buy oil from Russia. Industry insiders told […]
Fuel price nears N1,000 per litre in Nigeria as marketers, retailers trade blame
Fuel prices across Nigeria are nearing N1,000 per litre, sparking blame between petroleum marketers and retail fuel station owners. As Nigerians struggle with the rising cost of living, this increase in fuel prices is only adding more pressure. Earlier this week, it was reported that the Nigerian National Petroleum Company Limited (NNPCL) increased fuel prices […]
US became net exporter of crude to Nigeria for the first time in February
In February and March 2025, the United States sold more crude oil to Nigeria than it bought from the country. This is the first time such a thing has happened, according to the U.S. Energy Information Administration (EIA). This change happened because U.S. oil demand dropped due to repairs at some refineries on the East […]
Dangote In Aso Rock Villa To Meet Tinubu
Africa’s richest man, Aliko Dangote, visited President Bola Tinubu at Aso Rock Villa on Tuesday evening. His visit was short—he arrived around 7:00 pm and left just 30 minutes later without talking to journalists. This is the first time the two men are meeting in person at the Villa since Tinubu visited the Dangote Refinery […]
Dangote Halts Fuel Discount Scheme Amid Fraud Allegations
The Dangote Petroleum Refinery has stopped its discounted fuel supply program after it found out that some of its affiliate marketers were abusing the system. These marketers were supposed to sell the discounted fuel directly to customers at their stations, but instead, they sold it to outside dealers for higher profits. An investigation by the […]
Marketers Protest As Dangote Moves To Crash Cooking Gas Price
Aliko Dangote, the president of the Dangote Group, has shared plans to reduce the price of cooking gas (LPG) in Nigeria. He said he might start selling directly to consumers if current sellers do not agree to lower the price. But many people working in the gas business are not happy about this move. They […]
Nigerian marketers reduce fuel prices as FG shuts down economy in honour of Buhari
Nigerian fuel marketers have decided to lower the cost of petrol, starting from Tuesday, July 15. This decision comes as the Nigerian government shuts down operations for the day due to a public holiday declared in honour of the late former President Muhammadu Buhari. Abubakar Maigandi, who leads the Independent Petroleum Marketers Association of Nigeria […]
NNPC Refineries May Never Work Again — Dangote
Africa’s richest man, Aliko Dangote, says Nigeria’s government-owned refineries in Port Harcourt, Warri, and Kaduna may never work again. He explained that even though the Nigerian National Petroleum Company Limited (NNPC) has spent about $18 billion to repair these refineries, none of them are functional. Dangote made this known while speaking to business leaders from […]
Dangote Refinery reduces fuel price as petrol marketers hold emergency meeting
Dangote Refinery has reduced the price of petrol at its depot from N880 to N840 per litre. This change is expected to help reduce the cost of fuel across the country. The president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, confirmed the price cut in an interview. He said marketers are […]
NNPC hikes petrol price to N915 in Lagos, N945 in Abuja
The Nigerian National Petroleum Company (NNPC) has increased the cost of petrol. In Lagos, a litre now sells for N915, while in Abuja, it is N945. This is a jump of N45 in Lagos and N35 in Abuja when compared to the previous prices of N870 and N910 per litre. Other petrol stations are also […]