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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 […]

Senate Urges NLC to Halt Impending Fuel Subsidy Removal Strike

The Senate has issued an appeal to the Nigeria Labour Congress (NLC), urging them to suspend their impending strike concerning the removal of fuel subsidy and instead continue negotiations with the Federal Government. This resolution by the Senate came after they considered and adopted a motion during their plenary session on Monday. The motion, titled […]

NLC Threatens Strike Over Fuel Price Hike

The Nigeria Labour Congress (NLC) has threatened to cal out its members on a nationwide protest over the recent increase in the pump price of  premium motor spirit otherwise known as petrol. Rising from a meeting on Tuesday, labour leaders gave President Bola Tinubu’s administration a seven-day ultimatum to reverse what they consider “anti-poor” policies. […]

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