By Udeme Akpan, Energy Editor The persistent gridlock caused by petroleum tankers along the Apapa and Kirikiri corridors of Lagos has once again exposed deep-rooted structural deficiencies in Nigeria’s downstream petroleum logistics chain, despite years of government interventions aimed at restoring order to the nation…
…depot price report indicated that intense competition among marketers and the Dangote Petroleum Refinery has kept the product prices relatively stable despite pockets of marginal increases, In Lagos, which remains Nigeria's largest petroleum trading hub, Dangote Petroleum Refinery retained its ex-depot petrol price at…
…19.63 percent, reflecting continued reliance on imported raw materials, machinery and petroleum products. Food products accounted for 10.57 percent of total FX utilisation, while the transport sector represented 5.25 percent. The minerals and agricultural sectors accounted for 1.04 percent and 0.57 percent, respectivel…
•As diesel prices rises across major depots By Udeme Akpan The Dangote Petroleum Refinery on Wednesday trimmed its ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, by ¦ 1 per litre, even as diesel prices climbed across several petroleum depots in Lagos, reflecting mixed trends in Nigeria's downst…
…issued a Jun 22 general license to allow the sale of crude oil and petrochemical and petroleum products of Iranian origin through Aug 21. In revoking that license on Tuesday, it gave Iran until Jul 17 to wind down any transactions. Trump added that US representatives can continue negotiations but he cast doubt on the o…
…Kenyan coast, is expected to take about three years to complete and will supply refined petroleum products to Kenya and neighbouring countries, reducing East Africa's dependence on imported fuels. The development comes as Bloomberg reported on Tuesday that President of the Dangote Group, Aliko Dangote, plans to build t…
…part of your known lawful earnings as a former public officer with the Nigerian National Petroleum Company Ltd (formerly Nigerian National Petroleum Corporation), when you knew that the said sum of $789,950 constituted proceeds of unlawful activity, and you thereby committed an offence contrary to Section 18(2)(b) and…
…initiative in the Federal Capital Territory, Abuja, distributing 10,000 liquefied petroleum gas cylinders to households as part of efforts to reduce dependence on firewood and charcoal. The communications infrastructure company said the programme, known as Project Breathe Clean Air Abuja, was implemented in partnership…
…to help address global energy challenges. Dr Ekperikpe Ekpo, the Minister of State, Petroleum Resources (Gas), made this submission at the opening of the Nigeria Oil and Gas (NOG) Energy Week on Tuesday in Abuja. The 25th NOG has its theme as "Forging Africa's Strategic Energy Growth Through Global Collaboration". Ekpo…
…N34.538 trillion qualified for revenue concessions in 2025, comprising 56.40 percent petroleum products, 40.52 percent military imports, and 3.08 percent IDEC and other items. The Customs boss added that global trade disruptions arising from the Russia-Ukraine war also affected imports, particularly wheat shipments fro…
Dangote Petroleum Refinery exported about 466,000 metric tonnes of jet fuel to Europe in June, valued at an estimated N757bn, overtaking shipments from the United States and others. This is as Nigerian jet fuel exports to the continent reached their highest level since the country became a net exporter of aviation fuel…
…such as the National Oil Spill Detection and Response Agency and the Nigerian Upstream Petroleum Regulatory Commission. Okeregwu said the ministry investigates complaints brought to its attention and works closely with the relevant federal regulators whenever intervention is required. "When cases of environmental degra…
The Dangote Petroleum Refinery has reduced its ex-gantry price of Premium Motor Spirit, popularly known as petrol, from N1,125 per litre to N1,075 per litre, The PUNCH reports. The latest adjustment represents a N50, or 4.4 per cent, reduction from the previous price and is expected to further intensify competition in…
…rifles. 3. No fewer than five people working closely with a former Minister of State for Petroleum Resources, Timipre Sylva, have been arraigned by the Department of State Service, DSS. They were arraigned for allegedly concealing information regarding the whereabouts of their principal who has been in hiding since whe…
…battle. What you should know Diezani Alison-Madueke's tenure as Nigeria's Minister of Petroleum Resources between 2010 and 2015 was marked by allegations of financial impropriety and corruption. She has been accused of accumulating substantial wealth through illegal means. Following her exit from public office, she all…
…LAGOS - The Federal Government has directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, to ensure petroleum marketers do not exploit Nigerians through excessive pricing under the deregulated downstream petroleum market. Minister of State for Petroleum Resources (Oil), Senator Heineken…
…Securities Act 2025. What you should know Nairametrics earlier reported that the Dangote Petroleum Refinery was valued at $39.1 billion as it seeks to raise fresh capital from investors through a private placement. According to an Information Memorandum seen by Nairametrics, the refinery is offering 3 billion ordinary…
…has ordered a clampdown on marketers engaged in hoarding or diversion of Liquefied Petroleum Gas (LPG), also known as cooking gas following the recent surge in the price. The government directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and other regulators to intensify market surve…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it will issue and closely monitor import permits to bridge 165,000-metric-tonnes of Liquefied Petroleum Gas (LPG) supply gap in the third quarter of 2026. The Authority Chief Executive, Rabiu Umar, disclosed this on Monday in Abuja durin…
…the operations of Host Community Development Trusts, HCDTs, in the implementation of the Petroleum Industry Act, PIA. The stakeholders said sustained oversight was critical to ensuring that oil-producing communities benefitted fully from the PIA. The call came at a one-day town hall meeting on "Maximizing the Benefits…
…allegedly involved in transporting illicit substances and hazardous materials such as petroleum products and gas. Some were also found conveying school children in unsafe conditions. He stated that a total of 278 motorcycles were seized during the operation, adding that the crackdown is aimed at enforcing compliance ac…
…competition, diversify supply sources, and contribute to greater price stability in the petroleum sector.
…were found using motorcycles to transport illicit substances and hazardous items such as petroleum products and gas, while others were seen conveying schoolchildren and toddlers in unsafe conditions on major roads." The Task Force spokesperson revealed that: "At the conclusion of the weeklong operation, a total of 278…
…have called for stronger monitoring and accountability in the implementation of the Petroleum Industry Act (PIA), particularly in the operations of Host Community Development Trusts (HCDTs). They made the call during a one-day town hall meeting in Port Harcourt on "Maximizing the Benefits of Host Community Development…
…cut their fuel pump price by about N35 and N55 per litre. Meanwhile, Nigerian National Petroleum Company Limited, NNPCL, retail outlets have not reduced their pump price, which is currently N1,335 per litre. Earlier, DAILY POST reported that Dangote Refinery-backed MRS filling stations, on Friday, reduced their fuel pr…