Petroleum product marketers on Monday lamented their losses as the Nigerian National Petroleum Company Limited (NNPCL) reduced the price of Premium Motor Spirit (petrol) to N880 per litre in Lagos and N935 in Abuja. From N925, some NNPCL retail outlets in Lagos changed their pump price to N880 on Easter Monday, while those in Abuja adjusted from N950 to N935. …

Niger Republic has turned to Nigeria for help after being hit by fuel shortage. The West African country reached out to Nigeria despite months of diplomatic tensions and hostile rhetoric. Sunday PUNCH learnt that a delegation of senior officials of the military junta travelled down to Abuja to meet Federal Government representatives. At the end of the deliberation, 300 trucks …

Nigeria’s petrol imports surged in 2024, doubling despite an increase in domestic refining capacity, highlighting the country’s continued reliance on imported fuel, according to findings by The PUNCH. The latest data from the foreign trade statistics report of the National Bureau of Statistics (NBS) showed that the cost of petrol imports rose by 105.3 per cent to N15.42 trillion in …

An economist, Paul Alaje has predicted the ongoing price war between the Dangote Refinery and NNPC Limited (NNPCL) will ‘erode abnormal profit’ enjoyed by capitalists. ‘You may want to call it a price war but in economics, when a duopoly fights, it is the best for the populace because they will drive themselves to neutral profits’, Alaje said on Channels …

The Dangote Petroleum Refinery, on Wednesday, announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, PMS, commonly referred to as petrol, by N65.00. This means the price will drop from N890 to N825 per litre, effective Thursday, 27 February, 2025, a statement by the refinery stated. According to Dangote, this adjustment is designed to provide essential relief …

In a move that could drive economic relief for Nigerians, Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890 from Saturday. It said the price adjustment was in response to favourable developments in the global energy sector and a significant decline in international crude oil prices. A statement …

Oil marketers have revealed that the landing cost of Premium Motor Spirit (petrol) as of Friday was N922.65 per litre. Dealers said this cost factors in various expenses including shipping, import duties, and exchange rates. The amount is a considerable reduction of N32.35 from the N955 per litre offered at the loading gantry of the Dangote Petroleum Refinery. This decrease …

Retail outlets owned by the Nigerian National Petroleum Company Limited (NNPCL) have raised the pump price of Premium Motor Spirit (PMS), also known as petrol, from N965 to N990 per litre in the Federal Capital Territory (FCT) They also increased their price in Lagos from N925 to N960 per litre. This is even as the price of crude oil showed …

Dangote Petroleum Refinery yesterday clarified the recent upward adjustment of its ex-depot price of Premium Motor Spirit (PMS) otherwise known as petroleum, saying this is directly linked to the “Significant increase in global crude oil prices”. It was reported earlier that Dangote on Friday adjusted the price from N899 per litre to N950. The refinery stated in a memo to …

  The pump prices of Premium Motor Spirit (PMS), popularly called petrol, have risen to between N1,050 and N1,150/litre depending on the area of purchase, following the hike in the cost of the commodity by the Dangote Petroleum Refinery and various depot owners. Dealers confirmed that PMS prices would continue to rise since the major component in fuel production, crude …