Petrol Prices Rise as Depots, Dangote Increase Rates
Nigerian petroleum depots, including Dangote Refinery, raised PMS prices by up to N30 per litre, pressuring filling stations to increase pump prices across the country.
Category : Oil Gas
Dangote Refinery Raises Petrol Price by N20 to N1,185/L
Dangote Refinery increased PMS gantry price by ₦20 to ₦1,185 per litre effective August 21, 2026, while Lagos depot prices range from ₦1,190 to ₦1,200, keeping Dangote's price below market benchmarks.
Dangote Refinery Raises Diesel Price by N100, New Rate N1,670/Litre
Dangote Petroleum Refinery increased its diesel gantry price by N100 per litre to N1,670, effective midnight August 21, 2026, impacting businesses reliant on diesel-powered generators.
Dangote Petrol Price at N1,165 Pressures Fuel Depots
Dangote Refinery holds petrol gantry price at N1,165/litre while import parity hits N1,212.45, creating a N47 gap. Depot prices in Lagos, Warri, Calabar, and Port Harcourt vary widely.
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Fuel Marketers Rush to Dangote Refinery as Diesel Price Drops
Fuel marketers are redirecting trucks to Dangote Refinery after its diesel price dropped to N1,580 per litre on August 19, undercutting Lagos depots like Pinnacle and Ardova by up to N85 per litre, saving buyers up to N2.81 million per 33,000-litre load.
NNPC Cheapest Petrol Seller in Nigeria at N1,205 per Litre
NNPC retail stations now sell petrol at N1,205 per litre, the cheapest in Nigeria, as Dangote-affiliated outlets sell above N1,200 and depot prices rise amid crude oil volatility.
Murray-Bruce Urges Tinubu to Appoint 'Mad Men' for Oil
Ben Murray-Bruce calls on President Tinubu to appoint result-driven officials to lead Nigeria's petroleum sector, citing Cardoso and Ribadu as examples.
Dangote Refinery Cuts Cooking Gas Price by N165/kg in 24 Hours
Dangote Refinery reduces LPG price from N950 to N935 per kg, a N15 cut, bringing total monthly reduction to N165, triggering depot price cuts.
Dangote Refinery Gets $400m Ahead of Planned $5bn IPO
Dangote Refinery secured a $400 million investment commitment ahead of a planned $5 billion IPO, according to reports. The funding will support expansion and listing preparations.
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Dangote Refinery Expands Free Petrol Delivery to 4 More States
Dangote Refinery expands free petrol delivery to Kano, Imo, Anambra, Nasarawa, bringing total coverage to 10 states. Marketers buy at N1,165/litre with 10-day credit.
Dangote Petrol N80 Cheaper Than Imported Fuel, MEMAN Data Shows
Dangote Refinery's petrol price is N80 lower than imported fuel, with gantry at N1,165 vs N1,218.54 landing cost, per MEMAN data.
Naira Gains N8.07 Against Dollar in Official Market
The naira appreciated by N8.07 (0.59%) to close at N1,349.54/$1 in the official market on August 17, 2026, with FX turnover surging 265%.
FG Adds 208MW to Grid with Upgraded Lagos Substations
Nigeria's FG upgraded Ijora and Apapa substations in Lagos, adding 208MW to the national grid. World Bank and JICA funded the projects, aimed at easing transmission bottlenecks.
CBN Revises ATM Charges as PoS Transactions Fall 20%
CBN's new ATM fees: ₦100 per ₦20,000 withdrawal from other banks, plus up to ₦500 surcharge on off-site ATMs. PoS transactions dropped 19.9% in Q1 2026.
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Petrol Prices Crash as Depots Cut Rates, AP, MRS Slash Prices
Petrol prices fluctuated sharply on August 17, 2026, as depot rates rose then fell, with AP, MRS, and others cutting pump prices to around ₦1,200 per litre.
Petrol Prices Drop as Depot Rates Fall Across Nigeria
Major filling stations in Nigeria cut petrol prices as depot rates decline, with MRS, AP, and Lado Oil reducing pump prices, offering motorists relief.
Dangote Cuts Cooking Gas Depot Price to N950/kg
Dangote Refinery slashes LPG depot price to N950/kg, a 3.1% cut, making it the cheapest among major depots; 12.5kg cylinder now N11,875 before margins.
FG Pays N56.75bn Subsidy Claims to Oil Marketers
The Federal Government has paid an additional N56.75 billion to 14 oil marketers for 2012 subsidy claims, according to Finance Minister Ngozi Okonjo-Iweala, bringing total payments to N135.65 billion.
NNPC petrol price drops to N1,205 in Lagos, undercutting rivals
NNPC Retail outlets in Lagos sell petrol at N1,205 per litre, below the N1,230-N1,250 range at other stations, following depot price cuts on August 14.
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Imported Petrol N2 Higher Than Dangote's; Depots Cut Prices
Imported petrol lands at N1,167 per litre, just N2 above Dangote's N1,165, as private depots slash prices to N1,180, intensifying competition in Nigeria's downstream market.
Petrol Cargoes Arrive Lagos, Warri as Depot Prices Drop by N21
Over 180,000 metric tonnes of petrol arrived in Lagos and Warri terminals in August 2026, causing depot prices to fall by up to N21 per litre, with Dangote Refinery at N1,166.
Petrol Depot Prices Fall Nationwide as Dangote-Linked Marketers Cut Rates
Petrol depot prices fell across Nigeria on Friday, August 14, 2026, with cuts up to N21 per litre in Lagos, Calabar, Port Harcourt and Warri. Dangote Refinery led at N1,166 per litre in Lagos.
Modular Refineries Reject Crude Allocations Over Pricing
CORAN says modular refineries lifted no crude under DCSO in Q2 2026, citing unrealistic pricing benchmarks and double logistics charges; Dangote got 98% of allocations.
New Cooking Gas Prices: Dangote, 11 Plc Cut Rates, Others Hold
Dangote Refinery cuts LPG price to ₦950/kg, 11 Plc to ₦980/kg, while Rainoil and PPMC hold rates, per PetroleumPriceNG data.
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West Africa Moves to Fix Fuel Prices for Dangote Refinery
West African regulators are building a regional fuel pricing benchmark, influenced by the Dangote Refinery, to reduce dependence on foreign benchmarks.
Tinubu Vows to Revive Refineries; NUPENG Backs Subsidy Removal
President Tinubu assures Nigerians that refineries will be revived for commercial viability, with detailed assessments to fix structural issues. NUPENG praises subsidy removal as bold.
Dangote Plans $16bn Lamu Refinery, Seeks Kenyan Protection
Aliko Dangote announces plans for a $16 billion refinery in Lamu, Kenya, with 700,000 barrels per day capacity, seeking government protection against cheap fuel imports.
Nigeria Meets OPEC Oil Target, Yet Budget Gap Looms
Nigeria hit its OPEC oil production quota in July, but the federal budget still faces a revenue shortfall as crude output remains below the levels assumed in the 2026 budget.
Dangote Refinery Rules Out Overseas Listing for 3 Years
Dangote Refinery will not list on any overseas exchange for at least three years, according to a company executive. The refinery focuses on domestic supply and local economic impact.
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Petrol Price Review Expected as Depot Rates Rise Above Dangote's
Dangote-linked marketers sell petrol at N1,168/L, above refinery's N1,165 gantry rate, suggesting a possible price revision as depot prices climb across Nigeria.
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