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Dangote Refinery Says Global Crude Prices, Freight Costs Driving Fuel Price Increases

Dangote Petroleum Refinery has said it remains fully exposed to international commodity markets, including crude oil prices, freight charges, insurance costs, and financing expenses. The refinery explained that volatility in global oil markets is increasing operational costs. The Managing Director and Chief Executive Officer of Dangote Petroleum Refinery, Mr. David Bird, who spoke at a […]

Dangote Refinery Raises Petrol Price to ₦1,175/Litre, Diesel to ₦1,620/Litre

Dangote Petroleum Refinery has revised its ex-depot prices, increasing the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,175 per litre, while Automotive Gas Oil (AGO), or diesel, has been raised to ₦1,620 per litre. The latest adjustment marks the fourth consecutive price review in less than two weeks amid volatility […]

Petrol to Sell at ₦739 per Litre Nationwide from Tuesday — Dangote

Founder and President of Dangote Group, Mr. Aliko Dangote, has announced that the pump price of petrol will drop to ₦739 per litre nationwide from Tuesday, with initial implementation at MRS filling stations in Lagos. Mr. Dangote disclosed this during a press briefing at the Lekki Refinery on Sunday, revealing that the refinery had already […]

Fuel Prices Set to Rise Amid Dispute Between Dangote Refinery and NNPC

The landing cost of imported petrol has surged by ₦88 per litre within a week, according to data obtained from the Major Energies Marketers Association of Nigeria (MEMAN) on Wednesday, raising fears of increase in the pump price of the product. The association confirmed the increase in its daily energy bulletin, stating that price fluctuations […]

Dangote Refinery Suspends Petrol Sales in Naira, Cites Dollar Exchange Issues

Nigerians may face a further increase in fuel prices following the decision by Dangote Petroleum Refinery to temporarily halt the sale of petroleum products in Naira. In a statement released on Wednesday, the $20 billion Lagos-based refinery cited the need to align its sales revenue with crude oil procurement obligations, which are currently denominated in […]

Petrol Prices to Keep Falling Until Mid-Year, Rewane Predicts

The Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has predicted that the price of Premium Motor Spirit (petrol) will continue to decline until June 2025. Both Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) have significantly reduced fuel prices in recent weeks, alleviating financial pressure on millions of Nigerians who depend […]

Fuel Price Battle: NNPC Cuts Rates to Rival Dangote Refinery

Competition for market share between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) has intensified, with the latter reducing the price of Premium Motor Spirit (PMS) to ₦860 per litre. A market survey conducted by Channels Television on Tuesday confirmed the development. This price cut follows Dangote Refinery’s recent decision to absorb a […]

Price Cuts by NNPCL and Dangote Refinery Spark Market Rivalry

The Nigerian National Petroleum Company Limited (NNPCL) has reduced the ex-depot price of petrol to ₦899 per litre, following a similar price adjustment by the Dangote Refinery. This reduction marks a significant step in the competitive landscape of Nigeria’s downstream oil sector. PETROAN, the association of petroleum retailers, praised the move as a “significant milestone” […]

Avoid Economic Disruption, Private Sector Appeals To FG, NLC

The Organised Private Sector of Nigeria (OPSN) is urging the Federal Government and labour unions to take concerted efforts in preventing any disruption to socio-economic activities. In a statement issued by Mr. Segun Ajayi-Kadir, Head of the OPSN Secretariat in Lagos, the collective comprises five business membership organizations: the Manufacturers Association of Nigeria, the Nigerian […]

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