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 […]
The long-awaited public ownership of one of Nigeria’s most significant industrial assets has begun, as the Dangote Petroleum Refinery and Petrochemicals FZE opened its Initial Public Offering (IPO) on the Nigerian Exchange, giving retail and institutional investors an opportunity to acquire a stake in the business. The offer, which opened on September 14, 2026, involves […]
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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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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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Motorists in parts of Nigeria’s capital have encountered closed pumps and empty forecourts at several MRS filling stations after a week-long disruption in petrol supply, highlighting the immediate effects of recent changes in the country’s downstream petroleum market. Field observations by LMSINT MEDIA indicate that multiple MRS retail outlets across Abuja and surrounding areas have […]
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For years, successive government interventions have sought to restore free movement along Lagos’ Apapa and Kirikiri corridors. Yet, long queues of petroleum tankers continue to dominate the roads, slowing commercial activities, delaying cargo movement, and leaving commuters trapped in hours of traffic. Industry stakeholders say the recurring congestion is no longer simply a traffic management […]
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The story of the Dangote Refinery and Petrochemicals (popularly known as the Dangote Refinery) is not just about building Africa’s largest refinery—it is a case study on the unmatched strength of entrepreneurship and private sector innovation. Austrian economist Joseph Schumpeter (1883–1950) once defined entrepreneurship with two enduring statements: Schumpeter was more than a capitalist theorist; […]
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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 […]
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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, […]
