NNPC Ends Exclusive Purchasing of Petrol from Dangote Refinery
In a significant development in Nigeria’s oil industry, the Nigerian National Petroleum Company Limited (NNPCL) has officially ended its role as the sole buyer of petrol from Dangote Refinery. This change means that petrol marketers will now need to purchase fuel directly from the refinery, marking a shift in the dynamics of fuel distribution in […]
Nigeria Begins Naira-for-Crude Oil Sales from October 1, 2024
The Nigerian government has officially begun selling crude oil and refined petroleum products in exchange for naira, starting October 1, 2024. This initiative, known as the naira-for-crude program, is aimed at strengthening the local currency and improving the availability of petroleum products throughout the country. By eliminating the need for foreign currency in these transactions, […]
House of Representatives Demands Transparency from Dangote Refinery on Petrol Pricing
In a recent session, the House of Representatives of Nigeria has called on Aliko Dangote, the owner of Dangote Refinery, to disclose the prices at which he sells petrol to the Nigerian National Petroleum Corporation (NNPC) Limited and other major marketers. This motion was brought forward by Oboku Oforji and highlights ongoing disputes regarding the […]
Surge in Oil Theft: 218 Incidents Reported, 31 Arrests Made in One Week
Nigeria’s oil industry has once again been hit by a surge in oil theft. Between September 7 and 13, 2024, security agencies recorded 218 cases of oil theft across the Niger Delta region, leading to the arrest of 31 suspects. This was revealed in a recent report by the Nigerian National Petroleum Company Limited (NNPC). […]
Major Oil Marketers to Import 141 Million Litres of Petrol Despite Local Production
In a notable development in Nigeria’s oil sector, three major oil marketers are set to import a total of 141 million litres of petrol this week. This importation comes despite the ongoing local production of petrol at the Dangote refinery. The primary reason for this large-scale importation is the recent deregulation of the downstream oil […]
Lukman Accuses Dangote Refinery and NNPC of Manipulating Petroleum Prices
Dr. Salihu Lukman, a former Vice Chairman of the All Progressives Congress (APC) in the North-West, has criticized the pricing of petroleum products since the Dangote Refinery started production. He claims that both the Dangote Refinery and the Nigeria National Petroleum Company Limited (NNPCL) are manipulating fuel prices to create a monopoly that harms Nigerian […]
Nigerian Journalist Rufai Oseni: Families Can’t Survive on N400k, N500k, or N600k Salaries in Lagos
Nigerian journalist Rufai Oseni has voiced concerns about the increasing financial struggles many Lagos residents face. During a segment on Arise TV, he highlighted the impact of Nigeria’s economic challenges, stating that even salaries as high as N400k, N500k, or N600k are no longer enough to support a family in Lagos. Oseni questioned the confusion […]
Dangote Refinery’s Diesel Price Faces Criticism from Local Petroleum Marketers
Petroleum marketers in Nigeria have raised concerns about the current diesel price offered by Dangote Refinery, which they claim is negatively affecting their businesses. The refinery, owned by Dangote Industries Limited, has lowered its diesel price from N1,200 to N900 per litre. While this may seem like a benefit to consumers, many local petroleum product […]
Afenifere Leader Criticizes Government’s Lavish Spending Amid Financial Crisis
Segun Sanni, a key figure in the Afenifere socio-political group, has openly criticized the Nigerian government for its excessive spending, despite the country’s ongoing financial struggles. Speaking on Channels Television’s Sunrise Daily, Sanni expressed concern over the extravagant lifestyles of government officials while the average Nigerian continues to face severe economic hardship. Sanni called on […]
Dangote’s Refinery: A Solution or Another Economic Burden for Nigeria?
As Africa’s richest man, Aliko Dangote, prepares to start fuel production at his much-anticipated refinery, many Nigerians are hopeful that this project will bring an end to the country’s perennial fuel shortages and high prices. However, not everyone shares this optimism. Nigerian activist and lawyer, Deji Adeyanju, has voiced strong opinions about the refinery and […]