In a significant development for Nigeria’s energy sector, the Dangote Petroleum Refinery has adjusted its petrol price to ₦865 per litre, up from its previously announced ₦815 per litre. This price revision follows the suspension of the crude-for-Naira supply deal between Dangote Refinery and the Nigerian National Petroleum Company (NNPC). Crude Supply Suspension Triggers Price […]
In a significant shift, Dangote Refinery has suspended the sale of petroleum products in naira, citing a stalled crude supply agreement with the Nigerian National Petroleum Company Limited (NNPC). The refinery, which currently sources crude oil in U.S. dollars from the global market, announced that it would not be loading petroleum products for the Nigerian […]
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After achieving a monumental milestone with the successful delivery of his $20 billion refinery project, Aliko Dangote, President of Dangote Industries Limited, has revealed that he is currently taking some time off to rest. The massive 650,000-barrel-per-day refinery, which now exports refined products across Africa and the Middle East, has significantly disrupted the global oil […]
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Key Highlights Impact of Dangote Refinery on Nigeria’s Petroleum Sector Tank farm owners and private fuel depots in Nigeria’s midstream petroleum sector are grappling with declining sales following the entry of Dangote Refinery into the market. The refinery, located in Lekki, Lagos, has disrupted the industry by directly supplying refined petroleum products to marketers, a […]
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Filling stations across Lagos and its surrounding areas have raised petrol prices to between N1,000 and N1,100 per liter, following a recent price increase from the Dangote Refinery. At AP Filling Station in Dalemo, Alakuko, Lagos, the price has risen to N1,090 per liter, up from N980 just days earlier. Similarly, Mobil Filling Station along […]
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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that petrol prices will decrease to ₦935 per litre starting Monday. This development is due to a new pricing arrangement by Dangote Refinery, which includes a reduction in the ex-depot price. Key Details About the Price Drop According to IPMAN’s National President, Alhaji Maigandi Garima, […]
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Despite the recent price reduction of Premium Motor Spirit (PMS) by Dangote Petroleum Refinery to ₦899.50 per litre from ₦970 per litre, the minimum pump price of petrol in Nigeria has not yet dropped. In Lagos, most petrol stations, including those operated by the Nigerian National Petroleum Company Limited (NNPCL), continue to sell petrol at […]
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Optimism Among IPMAN MembersThe Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed confidence that its members will begin loading petroleum products from the Port Harcourt refinery this week. The refinery, which is owned by the Nigerian National Petroleum Corporation (NNPC) Limited, has resumed operations, processing 60,000 barrels per day at 70% capacity. Current Refinery […]
