…per US dollar. Speaking at a press briefing in Abuja on Thursday, October 8, addressing fuel pricing and growing public calls for subsidy reinstatement, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, cautioned that returning to subsidies would destabilize fiscal progress."Return subsid…
…has moved to correct what it described as a misrepresentation of its latest fuel pricing measures, saying reports claiming the federal government has restored fuel subsidy are inaccurate.Bayo Onanuga, President Bola Tinubu's special adviser on information and strategy, made the clarification in a social media post on T…
ADC vice presidential candidate Rotimi Amaechi outlined Atiku Abubakar's proposed fuel pricing plan at a townhall in Edo StateAmaechi said the plan would set a lower domestic crude price for Nigerian refineries, with the difference recovered as a production subsidy from refinery ownersThe proposal drew sharp reactions…
…Nigeria’s crude oil production and petrol consumption as he outlines his proposed fuel pricing model ahead of the 2027 elections. Photo: BloombergImagesNigeria produced an average of 1.68 million barrels of crude oil per day, according to available industry data. The Nigerian Midstream and Downstream Petroleum Regulato…
…reports.For consumers, the proposed rules are intended to curb practices that distort fuel pricing and access to supplies. They remain subject to consultation and finalisation, however, and their announcement does not establish a new pump price or guarantee immediate reductions at filling stations across Nigeria.Dangot…
…The association said the implementation of the Petroleum Industry Act, deregulation of fuel pricing, rehabilitation of government-owned refineries and the emergence of private refineries had positioned Nigeria to become a major refining and distribution hub in Africa. However, it identified challenges including high fi…
…underscores the growing influence of global oil market developments on domestic fuel pricing, even as the refinery continues its strategy of selling petroleum products in naira.Dangote increases petrol price Legit.ng earlier reported that Dangote Petroleum Refinery has resumed coastal loading of Premium Motor Spirit (P…
…and marketers to absorb market risks, facilitate product distribution, and stabilize fuel pricing. He urged the Federal Government to introduce additional incentives that would support independent marketers and help keep fuel prices affordable for consumers. "Fuel distribution affects every sector of the economy. When…
…in Nigeria's downstream petroleum industry. The continued implementation of market-based fuel pricing, changing supply-chain dynamics, and increasing domestic refining capacity reshaped competitive conditions across the sector. While these structural reforms are expected to strengthen the long-term sustainability of Ni…