Dangote Refinery Petrol Price Hits ₦1,175
Dangote Refinery has increased petrol prices to ₦1,175 per litre, marking the third hike in seven days due to global oil price surges and geopolitical tensions affecting Nigeria's energy market.
Category : Oil Gas
Nigeria Fuel Price Could Hit N2,000 Per Litre as Oil Soars
Nigeria faces potential fuel price hikes to N2,000 per litre as global crude oil surges to $117 per barrel due to Middle East tensions. Analysts warn of severe economic strain on households and businesses.
Oil Hits $120 on Iran Leader News, Markets React Sharply
Oil prices soared to nearly $120 per barrel following Iran's appointment of a new supreme leader, raising fears of supply disruptions in the Strait of Hormuz. Prices later eased to around $106 after G7 reserve talks, but global markets and fuel costs rema
NNPC Secures Crude for Dangote Refinery as Petrol Prices Soar
The Nigerian National Petroleum Company Limited is sourcing crude oil from international traders to sustain Dangote Refinery operations while petrol prices exceed N1,000 per litre across Nigeria.
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Oil Prices Jump After Iran Names New Leader, Launches Attacks
World oil prices soared on Monday as tensions escalated in the Middle East after Iran appointed Mojtaba Khamenei as new supreme leader and launched fresh military strikes across the region, rattling financial markets.
Dangote Refinery Raises Petrol Price Again, New Rates Announced
Dangote Refinery has increased its ex-depot petrol price to N995 per litre, marking a second hike in days due to rising global crude oil prices, with Brent crude reaching $93.26 per barrel.
Petrol Hits N1,000 at Depots as Crude Oil Soars to $90
Private fuel depots in Lagos have increased petrol prices to N1,000 per litre, driven by global crude oil reaching $90 per barrel and Dangote Refinery's temporary loading suspension, raising concerns about nationwide price hikes.
MRS, NNPC Raise Petrol Price by N100 After Dangote's Increase
Retail petrol prices surged significantly as MRS Oil Nigeria Plc and NNPC Limited increased pump prices by N100 per litre, following Dangote Refinery's adjustment. This move reflects global crude oil price fluctuations and higher replacement costs.
Dangote Refinery Raises Petrol Price to N874 per Litre
Nigeria's Dangote Petroleum Refinery has raised its Premium Motor Spirit ex-depot price from N774 to N874 per litre, citing rising global crude oil costs and replacement expenses. The adjustment may trigger nationwide fuel price increases.
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Middle East Crisis Sparks Global Energy Price Surge
Military attacks on Middle Eastern energy facilities have triggered a sharp rise in global oil and gas prices, with Brent crude climbing 10% and natural gas surging nearly 50%. The crisis is impacting European markets and Nigerian fuel prices.
Nigeria's Oil Hits $80/Barrel Amid Iran Conflict
Nigeria's Bonny Light crude oil price surged to $80 per barrel, its highest since July 2025, following US-Israel strikes on Iran. Global benchmarks rose sharply, potentially boosting Nigeria's revenues but risking higher domestic fuel prices.
Groups Urge Tinubu, NASS to Redirect Gas Flaring Penalties
Environmental organizations demand President Tinubu and the National Assembly review Executive Order 9, arguing gas flaring penalties should fund Niger Delta remediation, not government revenue.
Tinubu's Executive Order Reshapes Oil Revenue Distribution in Nigeria
President Bola Tinubu has signed an executive order mandating direct remittance of oil and gas revenues to the Federation Account, eliminating key deductions and sparking debates on transparency and job losses.
NNPC to Export New Cawthorne Crude Oil from March 2026
Nigeria's NNPC will begin exporting its new light, sweet Cawthorne crude oil grade in March 2026, aiming to boost production capacity and strengthen its position as Africa's leading crude exporter.
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FG Sets New Petrol Import Conditions Amid Dangote Refinery Pricing
The Federal Government has introduced conditional petrol import permits to prevent artificial shortages while supporting domestic refining. This comes as Dangote Refinery announces new Premium Motor Spirit prices at N774 per litre, capturing 62% market sh
Tinubu's Oil Revenue Order May Cause Job Losses - PENGASSAN
The Petroleum and Natural Gas Senior Staff Association of Nigeria warns President Tinubu's Executive Order restructuring oil revenue remittances could lead to significant job cuts in the sector.
Analyst Warns of Risks in Tinubu's Oil Revenue Order
An oil industry analyst examines the potential risks of President Tinubu's executive order on direct oil revenue remittance, citing impacts on NNPC's investment capacity and investor confidence.
Dangote Refinery Resumes Petrol Sales at N774/Litre with New Marketers
Dangote Refinery has resumed Premium Motor Spirit sales at N774 per litre under a revised distribution framework that restricts direct access to approved major marketers and depot owners nationwide.
Lagos Petrol Prices Surge as Dangote Halts Gantry Sales
Petrol prices at Lagos private depots have risen sharply, with Dangote-linked fuel now selling at N800 per litre. The increase follows Dangote Refinery's suspension of gantry sales and global crude oil prices climbing above $72 per barrel.
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Tinubu Orders Direct Oil Revenue Payment to Federation Account
President Bola Tinubu has signed an executive order requiring all oil and gas revenues to be paid directly into the Federation Account, aiming to strengthen public finances and curb revenue leakages in Nigeria's petroleum sector.
NCDMB: Upstream Oil & Gas Firms Must Pay 1% Levy, Get Certificate
The Nigerian Content Development and Monitoring Board (NCDMB) has reiterated that all upstream oil and gas companies must pay a mandatory 1% levy and obtain a compliance certificate to access regulatory services.
Nigeria Loses N1.76tn Revenue from OPEC Quota Shortfall
Nigeria lost an estimated N1.76 trillion in potential crude oil revenue after failing to meet its OPEC production quota between January 2025 and January 2026, highlighting persistent structural challenges in the oil sector.
Dangote Halts Sales as New N777 Depot Price Emerges in Talks
Dangote Refinery suspends gantry sales to negotiate with fuel importers and marketers as new depot pricing emerges around N777 per litre, aiming to stabilize Nigeria's fuel market through coordinated supply framework.
Eterna, Fuelmetrics Launch Self-Service Fuel Stations
Eterna Plc partners with Fuelmetrics Limited to deploy self-service fuel terminals across Nigeria, enabling digital payments and real-time tracking to enhance efficiency and transparency in fuel retailing.
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Dangote Signs $400M Deal to Expand Refinery to 1.4M Barrels Daily
Dangote Group has signed a $400 million construction equipment agreement with China's XCMG to support the expansion of its refinery from 650,000 to 1.4 million barrels per day, with polypropylene and urea production also set to increase significantly.
AMNI Refutes Receivership Claims, Court Order Misrepresented
AMNI International Petroleum Development Company Limited has dismissed reports of receivership, clarifying that a Federal High Court order pertains only to limited administrative functions in the Cenroc dispute.
Ogun Becomes Oil-Producing State as NNPC Drills at Eba Well
Ogun State has officially joined Nigeria's oil-producing states following the commencement of drilling operations at the Eba oil well. President Tinubu's approval accelerated the project, which promises economic growth and diversification beyond the Niger
NNPC Slashes Petrol Price in Lagos by N25
NNPC filling stations in Lagos have reduced petrol pump prices to N815 per litre, a N25 decrease from previous rates. This adjustment follows Dangote Refinery's price cut and reflects broader market dynamics.
Dangote Refinery Reaches Full 650,000bpd Capacity Milestone
Dangote Petroleum Refinery achieves full operational capacity of 650,000 barrels per day, marking a historic milestone for Nigeria's oil industry and boosting domestic fuel supply.
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Epstein Files Highlight Nigeria Oil Trust Issues, Dangote Contrast
Newly released Jeffrey Epstein documents reveal he backed out of Nigerian crude deals over fraud fears tied to NNPC, highlighting persistent governance concerns in Nigeria's oil sector as Dangote Refinery demonstrates alternative transparency.
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