…on Instagram!“We bought 25 per cent of their pipeline network for the distribution of petroleum products,” the industrialist said.The investment adds to Dangote’s growing energy interests beyond Nigeria, where his 650,000-barrel-per-day refinery in Lagos has become a major player in the domestic petroleum market.Dangot…

…and the displacement of traders. “The tanker overturned, spilling highly inflammable petroleum products before the fire spread to nearby businesses and Oluku Market. “We are aware that the fire destroyed shops, stalls, vehicles, goods and other property, depriving traders and families of their livelihoods; “The House i…

…queried. The APM secretary said his party favoured an appropriate pricing framework for petroleum products to prevent further hardship, insisting that Nigerians should not be left with little money after paying for fuel. “We cannot subscribe to seeing Nigerians use all their entitlements and earnings to buy fuel due to…

…by reducing the amount of foreign exchange required to import petrol and other refined petroleum products.Lower fuel import requirements could help improve the country’s external balance and support the accumulation of foreign reserves, provided other foreign exchange inflows remain favourable.Nigeria’s improving exter…

…ambition was for Nigeria to refine all its crude oil locally and export only refined petroleum products. “I even hope personally that we get to a point in Nigeria where all the crude we produce will be refined in Nigeria and we only export refined products,” Oyedele said. The debate over domestic crude supply comes ami…

…providing temporary relief to motorists and other fuel consumers amid the high cost of petroleum products. The government said the temporary discount would run for 30 days, raising questions about how the measure would affect pump prices and whether consumers would experience significant relief from the persistent rise…

…clarified that President Bola Tinubu’s administration is not restoring the subsidy on petroleum products. Recall that Tinubu declared an end to the fuel subsidy regime during his presidential inauguration in Abuja in 2023. The removal led to an increase in the pump price of fuel across the country. On Thursday, Oyedele…

…Nigeria would qualify under the arrangement, effectively excluding importers of refined petroleum products from the scheme.Reactions to Amaechi's fuel planThe proposal generated debate on social media, with several Nigerians questioning its practicality.@NigIsland wrote: "Amaechi is simply repackaging subsidies under a…

…he had a plan to cut petrol prices significantly for NigeriansDuke argued that petroleum products for local consumption should be priced based on production costs, not international market ratesThe former Cross River governor outlined a crude oil allocation strategy he said would make his proposed pricing model possibl…

…come amid continuing attention to domestic refining capacity and the availability of petroleum products within Nigeria. Aviation turbine kerosene, commonly known as jet fuel, is used by commercial aircraft, making consistent supply important to the aviation industry. However, the NMDPRA figures on domestic receipts alo…

…at the pump are not guaranteedG7 nations plan to release 100 million barrels of oil and petroleum products to cool supply pressuresPAY ATTENTION: Mark Legit.ng as a preferred source, and our content will appear higher in your Google feed!Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks,…

…Aliko Dangote has predicted that African countries will largely stop importing refined petroleum products from outside the continent by 2030, as he prepares to launch a major refinery project in Kenya.He spoke in Nairobi ahead of the groundbreaking of the 700,000 barrels-per-day facility, valued at $16 billion, which i…

By Uzoma MarvellousThe Dangote Petroleum Refinery is reshaping West Africa’s refined petroleum products market, reducing the region’s reliance on distant imports while increasing the flow of Nigerian products to neighbouring countries, Gary Clark, Associate Director, EMEA Clean Refined Products Pricing at S&P Global Pl…

…Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) must continue issuing petroleum products import licences to Matrix Energy, A.A. Rano and AYM Shafa.Justice Inyang Ekwo delivered the judgment on Monday in a suit brought by the three oil marketers against the regulator, finding that the NMDPRA's refusal t…

…to consumers.MRS is one of the major fuel retailers associated with the distribution of petroleum products produced by the Dangote refinery.Its latest adjustment provides an early indication that the refinery's price reduction is beginning to filter through to retail pumps.Petrol still sells as high as ₦1,450 in Abuj…

…“Nigeria should not continue exporting crude, exporting jobs and importing the same petroleum products at considerable economic cost.” He added: “Our crude must increasingly power our refineries. Our refineries must increasingly supply our market. And Nigeria must ultimately become a refining hub for Africa. That shoul…

…decades, Nigeria has exported crude while importing significant quantities of refined petroleum products. The lesson is broader than petroleum: resource ownership without domestic value addition does not automatically produce industrialisation. Mahama therefore placed industrialisation, jobs and mineral processing at t…

…below landing costsLegit.ng earlier reported that Oil marketers are increasingly lifting petroleum products from the Dangote Petroleum Refinery as the cost of importing petrol and diesel remains above the refinery’s selling prices. The widening price advantage comes as some filling stations have begun selling petrol be…

…is expected to further solidify Nigeria’s position as a leading exporter of refined petroleum products and enhance Africa’s energy self-sufficiency. President Ruto’s visit and Dangote Group’s ambitious growth plans highlight the increasing impact of African-led investments in driving the continent’s industrial renaissa…

…day in office in May 2027. He also outlined plans for a targeted production subsidy on petroleum products refined in Nigeria and sold domestically, to be governed by a spending cap, public accounting and independent auditing."Nigerians do not eat FAAC figures. A full treasury is no answer to an empty kitchen," he said.…

…rise in global crude prices can therefore increase the cost of petrol, diesel and other petroleum products, even when domestic refining capacity expands.The impact goes beyond motorists. Higher diesel and petrol prices raise transportation and logistics costs, increase the cost of moving food and goods, and put pressur…

…$107.92 per barrel before moving to $108.21, adding further pressure on the cost of petroleum products and replacement supplies.Motorists face higher fuel costs as petrol prices rise to N1,380 in Lagos and N1,430 in Abuja. Photo: Bloombergraise concernEconomist and development expert Aliyu Ilias cautioned that repeated…

…put measures in place to protect its citizens from sudden increases in the price of petroleum products. “The ongoing geopolitical tensions involving major oil-producing and consuming countries, as well as attacks in the Middle East, are factors that can affect global oil prices and should not come as a surprise to poli…

…State following an incident in which several persons suspected of illegally siphoning petroleum products reportedly died after inhaling toxic fumes. While community sources put the death toll at 43, the Rivers State Police Command said it could not confirm the actual number of casualties, stressing that investigation i…

…the victims had connected a pipe to a tapping point on a pipeline that transported petroleum products from the Indorama Eleme Petrochemical facility through the Port Harcourt Refinery to vessels that regularly came to load products for export. “The report further stated that while a vessel was loading the product and t…