…supply.For Nigeria, the development underscores the importance of expanding domestic refining capacity while ensuring adequate crude supply to local refineries.Although Nigeria is a major crude producer, its downstream market remains exposed to international oil prices, freight rates, foreign exchange movements and sup…

…petrol, which it needs to import despite its domestic oil production because of limited refining capacity. The deteriorating economic conditions are also placing severe pressure on Iranian households. Average monthly salaries are estimated at about $125, compared with basic household spending requirements of roughly $4…

…Upah said the hike was avoidable given falling international oil prices and Nigeria’s refining capacity. The congress questioned why more domestic crude is not being supplied to the refinery. Read Here: https://punchng.com/nlc-rejects-petrol-price-hike-demands-more-crude-for-refineries/ 3. Kano APC chief abducted, two…

…to legalise artisanal refineries across the Niger Delta region. He argued that local refining capacity – rather than debates over fuel subsidy – remains the key to ending Nigeria’s energy crisis. Speaking during an exclusive interview with our correspondent on Monday, Ndu condemned the persistent destruction of local m…

…transparency. Instead, the party said its alternative would focus on increasing domestic refining capacity and providing targeted, transparent support to reduce fuel prices and ease the cost of living. The subsidy debate is expected to remain a major issue ahead of the 2027 general election, with opposition parties inc…

…over the continued entry of imported PMS into a market where substantial domestic refining capacity is now available. Sources familiar with the refinery’s position said the immediate concern relates to the fact that some marketers are blending substandard imported PMS with products purchased from Dangote Refinery befor…

…suggests that Nigeria’s petrol market is increasingly being shaped by domestic supply, refining capacity, logistics and market structure rather than crude oil prices alone. As a result, monitoring the relationship between depot and pump prices, as well as regional price differences, is becoming increasingly important i…

…stable outlook, pointing to three years of structural reforms, higher oil production and refining capacity, and a stronger balance of payments. Moody’s said the latest positive outlook could eventually lead to an upgrade if Nigeria sustains recent improvements in its external position, strengthens external resilience a…

…enhance energy security and maximise the benefits of Nigeria’s investments in domestic refining capacity. Read here: https://punchng.com/dangote-threatens-to-export-petrol-as-imports-rise/ INEC to unveil 2027 governorship and Assembly candidates Saturday The Independent National Electoral Commission is set to unveil th…

…that the plan would be linked to local production and supported by efforts to increase refining capacity, improve competition and restore household purchasing power. “You cannot subsidise capital and criminalise relief for citizens. You cannot offer cushions upstairs and call suffering downstairs reform,” Atiku said. H…

…across various sectors of our national life is telling. “The emergence of domestic refining capacity, the liberation of trillions of naira into the Federation Account for sub-national infrastructural development, and the steady weaning of the Nigerian economy from life-support leakages are milestones that threaten his…

…the subsidy of the past,” Okonkwo said, arguing that Nigeria now had functioning local refining capacity 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…

…conflicts with the Petroleum Industry Act and could undermine Nigeria's growing domestic refining capacityThe presidency questioned how the subsidy would be funded and whether Atiku would seek to amend existing petroleum legislationPAY ATTENTION: Mark Legit.ng as a preferred source, and our content will appear higher i…

…to allocate all of its crude oil production to the domestic market by 2030 as local refining capacity expands.According to a report by S&P Global, Nigeria produced 1.74 million barrels of crude oil per day in June and plans to increase production to 3 million barrels per day by 2030. Nigeria has historically exported m…

…crude, a policy that some other African countries have adopted, has also supported local refining capacity, such that Dangote Refinery has become a net exporter of PMS and aviation fuel. “Manufacturing and industrial companies similarly benefited from improved access to foreign exchange and a more predictable currency…

…from an import-dependent market to one supported by significantly expanded domestic refining capacity has largely been achieved. “The focus now shifts from increasing refining output to building a competitive, transparent, and resilient downstream market capable of sustaining long-term growth and energy security.” MEMA…

…capacity, will account for the equivalent of about 10 per cent of the United States’ refining capacity and consume approximately 2.5 per cent of globally traded crude oil. He urged the Federal Government to place industrialisation at the centre of its economic strategy, insisting that no nation has attained prosperity…

…was at a critical stage in its energy sector transformation, with increasing domestic refining capacity, changing import patterns and renewed efforts to improve pipeline security and distribution infrastructure. The lawmaker noted that marketers and depot operators remain critical links between government policies and…

…which had relied heavily on imported Jet A-1 for years due to inadequate domestic refining capacity. The data showed that domestic refinery receipts fluctuated significantly during the review period, rising from 1.3 million litres per day in June 2025 to 1.5 million litres per day in July before climbing sharply to 3.5…

…agenda.” Dangote added that the move reflected the company’s commitment to increasing refining capacity on the continent. “This further demonstrates our profound commitment to developing domestic refining and petrochemical capacity – reducing Africa’s reliance on imported refined products and strengthening the continen…

…for the presence of the refinery at a time like this. So, I think that, because of our refining capacity, it has helped us avert the major crisis that other countries faced in terms of the disruption of the Strait of Hormuz. What key lessons should oil-producing countries like Nigeria draw from the Strait of Hormuz cri…

…supply weakened. The trend also highlights the continuing importance of domestic refining capacity to Nigeria’s fuel security. In May, the Dangote Petroleum Refinery supplied an average of 41.5 million litres of petrol daily, according to reports based on the NMDPRA’s monthly data. The figure was significantly higher t…

…consumers, including airlines, are receiving the expected benefits of increased local refining capacity. For passengers, the implication is straightforward: until airlines begin purchasing Jet A1 at prices that reflect global market trends, domestic airfares are likely to remain elevated despite fluctuations in interna…

…the nation’s ports and petroleum depots. The pressure has intensified as domestic refining capacity increases and economic activities expand, leading to higher volumes of petroleum products being transported to different parts of the country. The situation is further aggravated by the activities of some tanker operator…

…refining investment outside Nigeria and forms part of the company's ambition to expand refining capacity across Africa following the commencement of operations at its 650,000-barrels-per-day refinery in Lagos. Devakumar disclosed that the refinery would be financed through a combination of internally generated cash, bo…