BREAKING: Dangote Refinery slashes petrol price to N1,200/litre
Dangote Refinery has reduced the price of petrol, bringing down the ex-gantry cost of Premium Motor Spirit (PMS) by N75 to N1,200 per litre, according to industry sources. This price drop comes shortly after the refinery had increased petrol to about N1,275 per litre, blaming the earlier rise on global oil market instability that raised […]
Iran: Trump informs aides of readiness to end war without reopening Strait of Hormuz
United States President Donald Trump has reportedly informed his aides that he is ready to end the ongoing conflict with Iran even if the Strait of Hormuz remains closed. The Strait of Hormuz is a key passage for global oil supply, making its closure a major concern for international markets. Reports indicate that reopening the […]
US Cuts Nigerian Crude Imports By Nearly 50%
The United States has significantly reduced its crude oil imports from Nigeria, with a sharp drop of about 47% in January 2026. According to official trade data, imports fell from over 3 million barrels in December 2025 to about 1.66 million barrels in January 2026. This decline also affected Nigeria’s earnings, as the value of […]
Domestic Refining: Petrol Price Lower In Nigeria Than US, UK, Ghana, Others
Nigeria continues to rank among countries with relatively low petrol prices, even as global energy costs rise. Recent data shows that fuel remains more affordable locally compared to several major economies and African neighbours. According to global pricing reports, petrol in Nigeria averages about $0.88 per litre. This is far below the global average, showing […]
Buy Nigerian crude to undercut Russia’s war chest – Financial expert urges EU, US
A Nigerian financial expert, Kalu Aja, has called on Western nations, particularly the European Union (EU) and the United States (US), to consider purchasing Nigerian crude oil as a strategic measure to weaken Russia’s financial ability to sustain its war in Ukraine. In a post shared on X (formerly Twitter) on Thursday, Aja argued that […]
Dangote Refinery: Why fuel price may hit above N1,000 per litre – PETROAN President, Gillis-Harry
Petrol prices in Nigeria have recently increased from N860–N880 to between N930 and N960 per litre at some filling stations, including those owned by Dangote Refinery’s partners. According to Billy Gillis-Harry, the President of the Petroleum Retailers Outlets Owners Association of Nigeria (PETROAN), the price may soon hit N1,000 per litre. He shared his insights […]
Global Oil Prices Fall to $71 as Major Producer Lowers Rates
Global oil prices have dropped to $71 per barrel, staying below the $75 mark. This comes after Saudi Aramco, one of the world’s top oil companies, reduced prices for its Asian customers. OPEC’s struggles to stabilize the market and weaker global demand are also playing a big role in this decline. Saudi Aramco lowered its […]
Fuel to sell N500 per litre as Port Harcourt Refinery set to release product – Marketers
Oil marketers have indicated that the Port Harcourt Refinery is nearing readiness to distribute Premium Motor Spirit, commonly known as fuel, at a price below N500 per litre. National Public Relations Officer, IPMAN, Chief Ukadike Chinedu, confirmed that the Port Harcourt Refinery will soon release the fuel to marketers. He noted that at the moment, […]