Nigeria's monthly petrol spending soared to N2.054 trillion in April as Dangote Refinery received 39.2m barrels of crude. Imports fell to 3.7m litres per day, highlighting a shift to local refining.
Petrol prices rise across Nigeria as depot operators and filling stations adjust rates amid US-Iran tensions affecting global crude oil supply.
Nigerian billionaire Aliko Dangote plans to build a $17 billion, 650,000 barrels-per-day refinery in Mombasa, Kenya, pending support from President William Ruto.
Marketers import 164,000MT of petrol and diesel as NMDPRA approves 720,000MT imports, challenging Dangote Refinery's local supply dominance and sparking debate.
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NNPC and other marketers raise petrol prices above N1,300 per litre amid global supply disruptions and rising operational costs, worsening transportation expenses for Nigerians.
Nigeria's oil companies exported nearly 80% of crude output in Q1 2026, despite rising demand from local refineries, as pricing disputes hinder domestic supply.
Federal High Court in Port Harcourt reaffirms $100 million damages against China National Petroleum Corporation in favour of Cutra International over OPL 471 dispute.
NUPENG calls for transparency, accountability, and timely execution in the Federal Government's deal with Chinese firms to revive Warri and Port Harcourt refineries.
Nigerian households face another cooking gas price hike as Dangote Refinery and other dealers adjust LPG rates, pushing retail prices up by N100 to N150 per kilogramme.
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Dangote Refinery reverses planned petrol price increase, restoring rate to ₦1,275 per litre as crude oil prices fall sharply, bringing relief to Nigeria's downstream sector.
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Dangote Refinery increases petrol ex-depot price to ₦1,350 per litre, pushing pump prices toward ₦1,400. Government rules out subsidy return.
Dangote Refinery reversed its ₦75 fuel price hike, returning PMS depot price to ₦1,275 per litre after briefly raising it to ₦1,350.
Dangote Refinery increased petrol ex-depot price by N75 to N1,350/litre, the second hike in a week, due to supply constraints and rising global oil costs, impacting Nigerians.
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Nigeria rules out fuel subsidy and price controls, leaving Dangote Refinery and market forces to set prices as petrol surges to N1,500 per litre.
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NBS reports average petrol price hit N1,288.54 in March 2026. Anambra has highest at N1,441.22, Lagos lowest at N1,162.71. North-East zone highest, South-West lowest.
The Federal Government's deal with a Chinese firm to rehabilitate Port Harcourt and Warri refineries has divided experts, with some calling for transparency and others urging scrapping.
CRMI warns Nigeria faces significant oil market risks after UAE exits OPEC, citing potential volatility, supply disruption, and geopolitical tensions.
Petrol depot prices in Nigeria have crossed N1,300 per litre due to high global crude oil costs and supply tensions, prompting filling stations to adjust pump prices amid rising energy costs.
NNPC Ltd signs a Technical Equity Partnership with two Chinese firms to rehabilitate and ensure long-term profitability of Port Harcourt and Warri refineries.
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NNPC Ltd signs MoU with two Chinese companies to restart and expand Warri and Port Harcourt refineries under a technical equity partnership framework.
Nigeria gains N5trn extra oil revenue from US-Iran conflict price surge, but petrol costs rise to N1,400 per litre, worsening citizens' hardship.
NNPC has adjusted petrol pump prices nationwide, with Lagos at N1,320, Abuja at N1,364, and Yobe highest at N1,395. Regional disparities persist.
Oil marketers have raised depot prices for petrol and diesel across Nigeria following Dangote Refinery's N75 per litre increase. Prices surge in Lagos, Warri, Port Harcourt, and Calabar.
NNPCL increases crude oil prices by up to $7 per barrel for May 2026, raising petrol costs to ₦1,320 in Lagos and ₦1,364 in Abuja amid global tensions.
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Seplat Energy reported $840.7 million Q1 revenue and $37.9 million profit, declaring a 9 cents per share dividend, a 96% year-on-year increase.
Dangote Refinery recalls engineers redeployed after disciplinary actions, offering a second chance following appeals and internal review.
Cooking gas price in Nigeria rose 12.6% month-on-month in March 2026 due to Middle East crisis. Kaduna recorded highest price at N9,212.21.
Brent crude briefly reached $125.60, the highest since 2022, driven by US-Iran tensions and UAE's OPEC exit, before easing to $116.50.
NNPC raises petrol prices to N1,320 per litre in Lagos and N1,364 in Abuja, citing rising supply costs. Other marketers follow suit.
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NNPC subsidiary NGIC completes the River Niger crossing of the OB3 gas pipeline, unlocking 500 million scf/d of gas supply to boost electricity and industry.
