…decline in global crude oil prices is piling fresh pressure on Nigerian refiners and petroleum marketers to reduce petrol prices, raising expectations that motorists could see some relief at filling stations.Crude prices retreated at the weekend after an earlier surge linked to renewed tensions in the Middle East pushe…

…crude oil prices and reduced product volumes following changes in the domestic petroleum market. “Revenue declined as crude oil prices fell for those, as you recall, in 2025. But we also had some decline that resulted from a wide product volume reduction. Following the market regulation, as you know, with the removal o…

…oil prices, DailyTrust reports.The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, said filling stations had updated their pump prices in response to successive wholesale adjustments. He said frequent wholesale price changes create uncertainty for ope…

…he said. He also expressed concerns about the structure of Nigeria’s downstream petroleum market, noting that it had elements of oligopoly and monopoly that could make it easier for major players to influence prices. According to him, regulatory agencies must prevent any individual or group from having excessive influe…

…the latest N65 increase brought the total rise to N100 within the period.Independent petroleum marketers have followed suit, with depots in Lagos, Calabar, Port Harcourt and Warri quoting wholesale prices between N1,290 and N1,400 per litre. Retail pump prices in Kaduna have reportedly climbed beyond N1,330 per litre.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…

…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…

…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.…

…in crude oil prices to around $94 per barrel has further heightened price anxiety in the petroleum market. Cooking gas price update in Nigeria as crude climbs

…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…

…subsidy system placed a heavy burden on public finances and distorted the country’s petroleum market. Alfindiki also questioned Atiku’s current position, noting that during the 2023 presidential campaign, the former vice president had proposed removing the petrol subsidy within his first 100 days in office if elected.…

…transportation costsChanges aim to enhance competition and affordability in Nigeria's petroleum market while improving access to refined productsPAY ATTENTION: Find it fast with our new search feature at Legit.ng! Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the eco…

…for over a decade.Heavy truck traffic has returned to the Dangote Petroleum Refinery as petroleum marketers increase purchases of petrol and diesel, drawn by the refinery’s lower gantry prices compared with several Lagos depots.The renewed activity is particularly noticeable in diesel, with trucks lining up to load Aut…

…pricing strategy as competition intensifies across Nigeria's deregulated downstream petroleum market.Analysts rule out fresh petrol subsidyFinancial analyst Osas Igho said NNPC's lower price should not automatically be interpreted as a return of petrol subsidy.According to him, NNPC also sources petrol from the Dangote…

…prolonged inactivity of the facility had displaced workers, businesses, contractors and petroleum marketers whose livelihoods were linked to its operations. HOSCOM also backed the proposed technical equity partnership between NNPC and Chinese firms for the restart and expansion of the refinery, urging stakeholders to e…

…the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Independent Petroleum Marketers Association of Nigeria (IPMAN), and Major Energies Marketers Association of Nigeria (MEMAN), to deliberate on reforms aimed at ensuring stable fuel supply and attracting investment. Chairman of the committee, Re…

…commercialisation programmes and policy uncertainty remain major obstacles. Independent petroleum marketer, Chief Ajiboye Adebowale Moses, also argued that every unit of methane wasted represented lost economic value. “If captured instead of burned, methane can support electricity generation, cooking gas, fertilizer pr…

…in response to higher landing costs.IPMAN warns of imported fuel pressureThe Independent Petroleum Marketers Association of Nigeria has urged the Federal Government and the Nigerian Midstream and Downstream Petroleum Regulatory Authority to urgently reassess recently issued fuel import licences.IPMAN’s National Publici…

…that the war is winding down, I am hoping that there will be a high level of ease in the petroleum market across Africa, but there is definitely now a bit of ease in the petroleum market in Africa. How critical is the Strait of Hormuz to global oil trade, and what impact did its closure have on the energy market? The S…

…of the supply disruptions and price volatility that have characterised the downstream petroleum market since the removal of petrol subsidy. At the beginning of 2026, the NMDPRA reported that PMS stock sufficiency had risen to 33 days in January, compared with 29.2 days in December 2025. However, the stock position subs…

…several petroleum depots in Lagos, reflecting mixed trends in Nigeria's downstream petroleum market. Meanwhile, the global crude oil prices suddenly surged sharply on Wednesday, with international benchmark Brent crude climbing close to the $80 per barrel mark, signalling renewed strength in the oil market amid heighte…

…by the Federal Government to ensure that Nigerians benefit from the deregulation of the petroleum market. Earlier this week, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, insisted that fuel prices in a deregulated market would be determined by market forces and competition rather than governm…

…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 Lokpobiri, gave the directive in Abuja yeste…

…He noted that the development highlights the need for a more competitive downstream petroleum market where consumers can access products at the most affordable prices available. PETROAN called on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to continue issuing import licences to qualifi…