The Nigerian Upstream Petroleum Regulatory Commission has registered 172 Host Communities Development Trusts established by oil and gas companies under the Petroleum Industry Act. The development comes as the regulator intensifies enforcement of the PIA provision requiring oil and gas companies, known as settlors, to c…

The Dangote Petroleum Refinery and Petrochemicals has said it is considering restricting the sale of Premium Motor Spirit, PMS to major marketers that continue to import petrol into Nigeria, amid concerns over product quality, market transparency and the integrity of products supplied under the Dangote brand. The propo…

…Ikenga Ugochinyere, Chairman of the House of Representatives Committee on Downstream Petroleum, of turning Nigeria's refinery rehabilitation programme into a political instrument ahead of the 2027 general elections.TMA President Mustapha Mohammed made the accusation in a statement on Sunday, August 30, responding to Ug…

…increase was detailed in a price change circular issued by the refinery and cited by Petroleumprice.ng. The refinery also adjusted its coastal Premium Motor Spirit (PMS) price upward from N1,582,380 to N1,669,545 per metric tonne, a rise of N87,165.

…value exceeding $221bn. It said Nigeria’s upstream regulator, the Nigerian Upstream Petroleum Regulatory Commission, expected 22 major offshore projects to commence between now and 2030, with investment potential of between $30bn and $50bn. Recall that the NUPRC Chief Executive Officer, Oritsemeyiwa Eyesan, disclosed t…

…to filling stations. Although crude oil is a major input in the production of refined petroleum products, changes in crude prices do not translate immediately or proportionately into pump prices. Other factors include refining margins, product availability, import parity, exchange rates, freight and marine logistics, s…

…declined amid speculation over Venezuela’s planned exit from the Organisation of the Petroleum Exporting Countries, OPEC. A crude oil market survey showed that Brent and West Texas Intermediate, WTI, dropped to $88.10 and $83.40 per barrel, respectively, on Saturday morning. This means that Brent and WTI prices dropped…

…rollout after Bayelsa State, as the government moves to increase access to liquefied petroleum gas (LPG) and reduce reliance on traditional cooking fuels.

…Government cited the need to curb large-scale smuggling of rice, poultry products, petroleum and other goods, as well as weapons and drugs, and to encourage local agricultural production. In December 2020, Buhari ordered the reopening of four borders, including Seme Border in Lagos State, Illela Border in Sokoto State,…

…was why he had proposed a targeted, capped and transparent intervention in the domestic petroleum value chain, designed to reduce fuel and transportation costs at source. “When petrol becomes cheaper, the bus driver spends less, the farmer moves produce more cheaply, the trader pays less for haulage, businesses face lo…

…error. More fundamentally, Atiku’s argument appears to misunderstand the dynamics of the petroleum market. Petrol does not become cheap simply because government orders a subsidy or because competition is expected to emerge. ‘’Several factors, including international crude oil prices, exchange rates, refining costs, tr…

…bsidy-16bn-power-projects/ Dangote threatens to export petrol as imports rise The Dangote Petroleum Refinery has threatened to export excess petrol stocks as rising imports create uncertainty around domestic demand and make inventory planning increasingly difficult. The refinery said imported Premium Motor Spirit accou…

…subsidy to the price of crude oil, noting that refining crude produces several other petroleum products apart from petrol. Onanuga cited diesel, aviation fuel and kerosene among the products derived from crude oil, and asked whether Atiku’s proposed subsidy would extend to those products as well. “Jet fuel and kerosene…

…price for the subsidy regime, spending between N3 trillion and N4 trillion subsidising petroleum products. "Pull us back to that era": Shehu Sani rejects Atiku's fuel subsidy pledge. Photo Sani>As reported by Daily Trust, he made the remarks at a press conference in Abuja.PAY ATTENTION: From breaking news to viral mome…

…cautioned that preferential crude pricing could distort competition in the downstream petroleum sector, adding that such an arrangement could risk creating artificial monopolies, destabilising smaller indigenous modular refiners and conflict with the deregulatory provisions of the Petroleum Industry Act. He raised conc…

The newly elected President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Comrade Bosun Olabiyi-Agoro, has promised to tackle the practice of prolonged contract staffing and casualisation in the oil and gas industry, The post PENGASSAN new president promises to tackle contract staffi…

…government’s continued use of tax credits, concessions and other incentives to support petroleum investors. “Nigerians were told there was no alternative and that enduring this pain was the necessary price of economic reform. But when major oil investors knock on Tinubu’s door, the sermon changes,” Atiku said. He argue…

…The statement came amid criticism from an All Progressives Congress, APC, chieftain and petroleum marketer in Kebbi State, Aminullah Mustapha, who opposed Atiku’s proposal. Mustapha argued that restoring the fuel subsidy could revive what he described as corruption and abuse associated with the previous subsidy regime.…

…of import duty before, at N460, it became one dollar at N1,004, N1,003, N1,005. The NRS, Petroleum Profit Tax that it collected before, same dollar, higher amount in naira. So, the savings showed up in the Federation accounts by way of higher revenue collections as a result of the reforms.” A further analysis of the do…

…surgery of dismantling an unsustainable subsidy regime—a framework legally sealed by the Petroleum Industry Act—it inevitably invites short-term adjustment pains. “Rather than offering statesmanlike support or constructive alternatives, Atiku has chosen the path of political opportunism. His visible annoyance at the on…

…and should therefore use its crude oil resources to bring down the cost of refined petroleum products. According to him, the proposed Atiku Fuel Affordability Plan, AFAP, would ensure that local refineries received the crude they needed at a price that would enable them to produce petrol at a reduced and affordable rat…

Nigeria’s liquefied petroleum gas, LPG, popularly known as cooking gas, has remained fairly stable in price since July 2026 amid volatility in crude oil prices. DAILY POST reports that cooking gas prices in May and June 2026 rose to as high as N2,000 per kilogram from around N1,200 per kilogram across major cities in N…

…subsidy would be difficult because Nigeria spent trillions of naira subsidising petroleum products in the past. “For a number of reasons, what he said is virtually impracticable,” he said. “We have also seen how beneficiaries of subsidies use this mantra of subsidy to defraud our country. Many of them have cases in cou…

…linked to the Strait of Hormuz put pressure on the downstream market.According to Petroleumprice.ng, PMS prices rose across most depots in Lagos, Port Harcourt and Calabar, while Warri recorded mixed movements. Petrol Price Alert: New Depot Rates Emerge in Lagos, Warri, PH, Calabar as Crude Oil Nears $95>International…

…technology, energy, stocks, investment, and the economy for over a decade.Independent petroleum marketers have praised Dangote Petroleum Refinery’s free petrol delivery initiative, saying it could ease operational pressures, improve cash flow and help drive down pump prices across Nigeria.Marketers hail faster, cheaper…