Tokunbo Car Prices Under Pressure as Vehicle Imports Surge 145.6%
Nigeria's passenger car imports surged 145.6% to N1.18 trillion in H1 2026, intensifying pressure on tokunbo prices as dealers adjust to rising costs.
Category : Oil Gas
Dangote Refinery, Depots May Hike Petrol Prices as Crude Hits $107
Brent crude surged to $107.63 per barrel, raising fears of higher petrol prices in Nigeria. Dangote refinery’s N1,265-per-litre price faces pressure as import parity hits N1,310.64.
New Petrol Depot Prices as Brent Crude Surges Past $107
Nigerian marketers released new depot petrol prices on Sept 10 as Brent crude topped $107/barrel. Dangote Refinery held petrol at N1,266/litre, while diesel prices rose sharply, with Port Harcourt quoting N2,100/litre.
Petrol Landing Cost Hits ₦1,311 as Lagos Depots Withhold Sales
Petrol landing cost rose to ₦1,311 per litre, prompting Lagos depot owners to withhold sales amid rising replacement costs and crude prices near $105.
NNPC Plans 50-70 Smart Fuel Stations in Nigeria Within 6 Months
NNPC Ltd will roll out 50 to 70 smart, solar-powered energy stations across Nigeria in six months, offering petrol, LPG, CNG, EV charging, and self-service via mobile app.
Dangote in Talks for 1,000MW LNG Plant in Kenya
Dangote Industries is negotiating a 1,000MW LNG power plant in Kenya, linked to its proposed Lamu refinery, with gas potentially sourced from Tanzania, aiming to diversify Kenya's energy mix and expand Dangote's African footprint.
Petrol Prices Set to Rise as Crude Oil Tops $100, Marketers Warn
Oil marketers in Nigeria are preparing to hike petrol pump prices after crude oil surged above $100 per barrel, raising concerns over higher transport and household costs, and worsening inflation.
Dangote Kenya Refinery Faces Funding, Crude Supply Hurdles
Dangote's planned 700,000bpd Kenya refinery in Lamu hits funding and crude supply challenges, with analysts citing $40bn investment needs and regional oil constraints.
Brent Crude Hits $100 as US Strikes Iranian Tankers
Brent crude crossed $100 per barrel for the first time since July 23 after US strikes on three Iranian tankers, with Goldman Sachs warning prices could reach $120 if shipping disruptions worsen.
Cooking Gas Prices Drop in Lagos, Kano, Enugu as Supply Rises
LPG supply rose to 5.332 KT/D in July 2026, pushing prices down in Lagos, Ibadan, Calabar, Kano, and Enugu. Sokoto saw a slight increase.
Petrol Depot Prices Drop Again, See Latest Rates in Lagos, Warri, Calabar
Petrol depot prices in Lagos fell to between N1,266 and N1,280 per litre, but pump prices remain as high as N1,325 in some areas. Several depots cut prices, with Rain Oil recording the biggest reduction of N20 per litre.
Petrol Hits N1,310 in Lagos as Goldman Sachs Warns Oil Could Reach $120
Petrol prices in Lagos rose to N1,310 per litre on Monday, September 7, 2026, as Goldman Sachs warned crude could approach $120 amid Middle East tensions and Strait of Hormuz risks.
Dangote's WAEP Targets First Oil in Two Years as Petrol Price Rises
WAEP, Dangote's upstream arm, targets first oil within two years from OML 71/72, supplying the refinery, which raised petrol price to N1,265.
NMDPRA blames petrol price swings on logistics, refining
NMDPRA says petrol price fluctuations stem from logistics, single-source refining, and crude oil sourcing under deregulation, while IPMAN urges government intervention.
Cooking Gas Prices Drop Up to 40% Nationwide in Nigeria
Cooking gas prices in Nigeria have fallen by up to 40% from June peaks, offering relief to households and businesses amid improved supply and government interventions.
Dangote Petrol N45.64 Cheaper Than Imported Fuel
Dangote Refinery's petrol gantry price of N1,265 per litre is N45.64 cheaper than the import-parity benchmark of N1,310.64, per MEMAN data.
Petrol, Diesel Depot Prices Rise Across Nigerian Depots
Petrol and diesel depot prices rose across Nigeria's four major trading hubs between August 31 and September 4, 2026, with Lagos diesel hitting N1,830 per litre.
Diesel Hits ₦2,000 as Lagos Depots Undercut Dangote
Diesel prices in Nigeria have crossed ₦2,000 per litre in Abuja, while some Lagos depots cut rates to ₦1,790, below Dangote Refinery's ₦1,850 gantry price.
Dangote Refinery IPO: Exact Date for Share Sale Revealed
Aliko Dangote has confirmed the Dangote Refinery IPO will open within 10-12 days, targeting $5 billion, with plans to double capacity to 1.4 million barrels per day.
Petrol Depot Prices Surge Above N1,300/Litre as Crude Nears $100
Nigerian petrol depot prices have crossed N1,300 per litre, up N25-N35, as crude oil nears $100. Pump prices in Abuja already hit N1,350, with IPMAN and PETROAN urging government intervention.
Petrol prices rise nationwide as marketers adjust pump rates
Petrol marketers across Nigeria raised pump prices after depot costs surged, with Dangote Refinery hiking its rate to N1,266 per litre and some stations selling above N1,300.
All On, Energise Africa invest $4m in solar mini-grids for Jigawa, Bauchi
All On and Energise Africa invest $4 million to deploy solar mini-grids across 19 communities in Jigawa and Bauchi, impacting 100,000 people.
NNPC Raises Petrol Prices: Lagos N1,299, Abuja N1,345
NNPC raised petrol prices across Nigeria. Lagos now sells at N1,299/litre, Abuja at N1,335. The hike follows three Dangote refinery gantry increases within nine days, adding N100 to wholesale costs.
Petrol Prices Near N1,400 as Dangote Defends Fuel Hikes
Petrol prices are nearing N1,400 per litre in parts of Nigeria after Dangote Refinery's third price hike in eight days, raising living costs and sparking debate.
NNPC, Other Filling Stations Raise Petrol Prices in Abuja
NNPC and other Abuja filling stations increased petrol prices after Dangote Refinery raised ex-depot price to N1,265 per litre, with pump prices now above N1,300.
Petrol Prices Rise to N1,400 After Dangote Gantry Hike
Major marketers raised petrol prices to N1,310–N1,400 per litre after Dangote Refinery increased its gantry rate to N1,265, despite Brent crude falling to $88.10.
Dangote-Backed Stations Raise Petrol Price to N1,310 in Lagos
Nigerian petrol prices hit new highs as Dangote Refinery-backed stations sell at N1,310 per litre in Lagos, up from N1,205, despite falling crude oil prices.
Pound Selling Rate Falls as CBN Releases New Exchange Rates
CBN selling rate for the pound dropped to N1,816.04 on August 28, 2026, from N1,820.34 the previous day, as the naira strengthened against major currencies.
TCN Secures $1.4bn to Boost Nigeria's Grid to 8,700MW
TCN has secured over $1.4bn (N1.87tn) in loans and grants, raising transmission capacity to 8,700MW and commissioning 89 transformers, but DisCos' limited uptake remains a challenge.
Petrol Price Hits N1,300 After Dangote Refinery’s Fresh Increase
Dangote Refinery raised petrol price to N1,200 per litre, pushing pump prices to N1,300 in some areas. IPMAN says volatility hurts marketers and consumers.
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