…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…
…below:Dangote increases petrol price by N85Legit.ng earlier reported that the Dangote Petroleum Refinery has raised its ex-gantry price for petrol by N85 per litre over the weekend, bringing the new wholesale price to N1,350, as rising global crude oil costs put pressure on Nigeria's fuel market.
Nigerian National Petroleum Company Limited (NNPC Ltd) has reiterated its commitment to activate multiple pathways aimed at transforming Nigeria into a global gas hub. The Executive Vice President, NNPC, Gas, Power & New Energy, Olalekan Ogunleye disclosed this on Monday, while speaking at the 2026 Gas Technology & Exh…
…general market trends.Petrol prices across Nigeria have climbed sharply after Dangote Petroleum Refinery raised its wholesale gantry price from N1,265 to N1,350 per litre, pushing pump prices at major filling stations to new highs in Lagos, Abuja, and Ogun State.The N85 increase, which amounts to a 6.7% rise, has taken…
…commuters, households and businesses. Another headline features the Dangote Petroleum Refinery opening its landmark N2.15 trillion initial public offer (IPO) today. Vanguard also reports that as primary and secondary schools reopen across the country today, parents and guardians will contend with paying higher school f…
…nor economically prudent."The appropriate policy direction is to preserve the downstream petroleum reforms while aggressively mitigating their social and economic costs."He argued that the debate should shift from whether to restore subsidies to how governments at all levels are deploying the revenues freed by their re…
…popularly known as petrol. The latest adjustment followed an N85 increase in Dangote Petroleum Refinery’s gantry price, from N1,265 to N1,350 per litre, amid a surge in global crude oil prices.[/i This represents a 6.7 per cent increase and takes the refinery’s wholesale price above the current petrol landing cost of N…
…of improved oil production as the country sustained compliance with its Organisation of Petroleum Exporting Countries crude oil quota. The Nigerian Upstream Petroleum Regulatory Commission disclosed this in a statement issued on Sunday by its Head, Media and Corporate Communications, Eniola Akinkuotu. The regulator sta…
…a prominent role in efforts to combat crude oil theft and other threats to Nigeria's petroleum infrastructure, helping to protect assets vital to the country's economy and national interest. Beyond security, his influence in the Niger Delta has extended to promoting stability, community engagement and opportunities for…
…Securities and Exchange Commission has approved the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals FZE, with the company offering 4.1 billion ordinary shares at ₦525 each. The offer could raise approximately ₦2.15tn if fully subscribed, according to a statement issued by the Dangote Group…
…prices to N1,900 per litre. Depot owners such as Ranoil Delta, Nigerian Independent Petroleum Company, NIPCO Warri, Prudent Oghara, Zamson and others have implemented the new prices, according to Petroleumprice.ng. Earlier, DAILY POST reported that Dangote Refinery had increased its gantry diesel price by N100 to N1,85…
…From breaking news to viral moments. Follow Legit.ng on Instagram!Market data from Petroleumprice.ng showed that Integrated, Ascon and Sahara depots were each selling petrol at N1,280 per litre as of Thursday, while Dangote Refinery priced its PMS at N1,265.50 per litre.That leaves the MEMAN landing cost sitting N34.67…
…and youth empowerment. On his part, the board chairman of the Nigerian Upstream Petroleum Regulatory Commission, Magnus Abe, urged Ogoni leaders and residents to unite, end internal media disputes, and maximise the support extended by the President. “Nobody can organise or strategise for us; those are things we must do…
…secures $2 billion CNG investment to reduce transport costs. >Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, disclosed the development in a statement issued on Tuesday by his spokesman, Louis Ibah.PAY ATTENTION: From breaking news to viral moments. Follow Legit.ng on Instagram!Over 120,000 vehicles co…
…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…
About 37 persons suspected of oil theft have died after inhaling a petroleum product believed to be crude oil in Okrika Local Government Area of Rivers State. The incident reportedly occurred early Thursday when youths allegedly attempted to load the product into a vessel from an illegally tapped point at a jetty in th…
…in global crude prices has fed directly into Nigeria's wholesale petrol market. Dangote Petroleum Refinery increased its Premium Motor Spirit gantry price to N1,265 per litre on August 29, the third upward adjustment in nine days.The refinery first moved its price from N1,165 to N1,185 per litre on August 20, then to N…
The Independent Petroleum Marketers Association of Nigeria, IPMAN, has appealed to the Federal Government to intervene in the operations of Dangote Refinery to help reduce retail fuel prices. The National President of IPMAN, Abubakar Maigandi, made the appeal in an interview with DAILY POST on Tuesday. His appeal comes…
The Independent Petroleum Marketers Association of Nigeria, IPMAN and the Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, have revealed the reasons for the latest fuel price hike in Nigeria. The national presidents of IPMAN and PETROAN, Abubakar Maigandi and Billy Gillis-Harry, respectively, b…
…efforts to reduce transportation costs and promote cleaner energy.Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said the government was determined to expand CNG adoption as a cheaper, cleaner and more sustainable alternative to conventional fuels.FG Targets Cheaper Fuel, Affordable Transportation Wit…
…more for Premium Motor Spirit (PMS), also known as petrol, as depot prices across major petroleum hubs have climbed sharply to as high as N1,290 per litre, amid a renewed surge in international crude oil prices. The development threatens to worsen the financial burden on households and businesses, with marketers expect…
…N1,310 and N1,345 per litre, from N1,210 to N1,275, at MRS, the Nigerian National Petroleum Company Limited (NNPCL), Ranoil and other filling stations in Abuja and its environs. The latest price hike in Nigeria comes after Dangote Refinery raised its gantry price by N65 per litre. Fuel price: Brent, WTI global crude pr…
…Biafran side, there was never a case of fuel scarcity because we were refining our own petroleum products locally. “Now, in contemporary Nigeria, more than 5,000 cottage refineries have been destroyed by the government. I have advocated consistently that all these so-called illegal refineries should be legalised—assist…
…two vehicles conveying approximately 8,500 litres of suspected illegally refined petroleum products along the Ejemekuru-Obudi-Agwa axis of Imo State, arresting three suspects, while others fled and abandoned one of the vehicles. On 22 August 2026, personnel of Nigerian Navy Ship PATHFINDER disrupted three illegal refin…