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 war: No basis for increment in PMS price in Nigeria – MURIC
The Muslim Rights Concern (MURIC) has stated that the ongoing war in Iran should not cause a rise in PMS prices in Nigeria. MURIC’s Executive Director, Professor Ishaq Akintola, noted that local refineries must receive enough crude to keep petrol prices stable. Recent fuel price spikes, reaching N1,400 per litre in some areas, are blamed […]
Fuel price hike: Experts, CSOs divided on subsidy as Nigerians face worsening hardship
Rising fuel prices in Nigeria have sparked fresh debate, with experts and civil society groups divided on whether the government should reintroduce subsidies or provide relief measures. The increase has worsened economic hardship for many citizens. The price surge is linked to global oil market disruptions caused by tensions involving Iran, the United States, and […]
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 […]
NNPC Cuts Petrol Price By N100 In Lagos, N95 In Abuja
The Nigerian National Petroleum Company Limited (NNPC) has lowered petrol prices at its retail outlets to N1,130 per litre in Lagos and N1,165 per litre in Abuja. This reflects a N100 drop in Lagos and N95 in Abuja from previous rates. Several NNPC stations in Lagos, including Isheri Oshun Road, Apple Junction, and Ago Palace […]
Dangote Price Cut Yet To Reflect As Nigerians Buy Petrol At ₦1,300 Per Litre
Despite Dangote Petroleum Refinery reducing its gantry price of petrol by ₦100 to ₦1,075 per litre, many Nigerians continue to pay between ₦1,300 and ₦1,355 per litre at filling stations. The reduction followed a drop in global crude oil prices, but retail outlets, particularly independent marketers, have been slow to pass on the savings. In […]
NNPCL increases petrol price in Lagos, Abuja
The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of petrol in Lagos and Abuja. Motorists in Lagos will now buy petrol at ₦835 per litre, while the price in Abuja has risen to ₦839 per litre. The new rates took effect across NNPCL retail outlets on Wednesday. The price adjustment comes […]
Dangote Refinery resorts to gasoline imports amid RFCC downtime
Dangote Refinery is facing fresh operational pressure as its Residual Fluid Catalytic Cracker (RFCC) remains shut for a prolonged period. According to global commodities intelligence firm Kpler, the downtime has limited the refinery’s ability to fully process crude, forcing it to adjust operations to keep other units running. To manage the challenge, the 650,000 barrels-per-day […]
Dangote Refinery reduces fuel price
Dangote Petroleum Refinery has announced a ₦30 cut in the ex-depot price of petrol, dropping from ₦850 to ₦820 per litre. The new price took effect on August 12, 2025. The update was confirmed in a statement by the company’s spokesperson, Anthony Chijiena, on Tuesday. With a daily capacity of 650,000 barrels, the refinery said […]
Nigerian govt to earn N796bn yearly from 5% petrol surcharge
The Nigerian government is projected to make about N796 billion each year through a new 5% surcharge on both locally made and imported petrol. This tax will become active starting January 1, 2026, following the introduction of new tax laws. President Bola Tinubu approved four new tax laws on June 26, 2025. One of these […]