Nigerians may no longer depend on imported petrol to the same extent as before, but that shift has not eliminated the factors keeping pump prices elevated. Aliko Dangote, President of Dangote Group, has explained that producing petrol locally does not automatically make the commodity cheap because the refinery still operates within a market influenced by […]
Nigerians are facing fresh pressure on transportation, food distribution and business costs after Dangote Petroleum Refinery increased its petrol gantry price to N1,350 per litre, the fourth upward adjustment by the refinery since August. The new price, which took effect on September 12, 2026, represents an N85 increase, or about 6.7 per cent, from the […]
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Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has rejected claims by President Bola Tinubu’s Senior Adviser on Digital/New Media, O’tega Ogra, that his proposed production subsidy for locally refined petroleum is a repeat of an earlier subsidy arrangement operated during the Olusegun Obasanjo administration. The disagreement has opened a fresh […]
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ABUJA — The 2027 presidential race has entered a more active phase as Oyo State Governor and Allied Peoples Movement (APM) presidential candidate, Seyi Makinde, formally opened his campaign headquarters in Abuja and challenged Nigerians to judge political contenders by their ideas, records and ability to deliver. At the commissioning of the APM presidential campaign […]
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Nigeria’s renewed drilling activity is yet to translate into the kind of sustained crude oil production growth that would significantly strengthen government revenue, foreign-exchange earnings and the country’s position in the global oil market. The latest figures point to a more complicated picture than simply a shortage of rigs. While drilling activity has continued over […]
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Motorists and businesses across Nigeria are facing another increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol, following fresh price adjustments by refiners, depot operators, marketers, and the Nigerian National Petroleum Company (NNPC) Limited. The latest increase has pushed petrol prices in several parts of the Federal Capital Territory (FCT) and […]
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Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890. This new price is effective from Saturday, February 1, 2025. In a statement issued on Saturday, the company attributed this price cut to the favorable trends in global energy and […]
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Crude oil theft remains a significant issue in Nigeria, with security operatives—who are supposed to prevent the crime—reportedly facilitating and profiting from the illegal trade. Investigations reveal that oil thieves pay levies to build refining camps and receive protection, while armed personnel escort stolen crude shipments under the cover of night. Despite the efforts of […]
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In a decisive effort to combat oil theft and protect Nigeria’s resources, the Nigerian Army has successfully dismantled 19 illegal refining sites and confiscated over 170,000 litres of stolen Automotive Gas Oil (AGO) in a series of operations across the Niger Delta. Collaborative Crackdown Between December 2 and 8, 2024, troops from the Nigerian Army’s […]
