In a significant shift for Nigeria's energy market, the price of Premium Motor Spirit (PMS), also known as petrol, has fallen sharply to ₦739 per litre ahead of the Yuletide season. Motorists in Lagos have formed long queues in some MRS filling stations in Lagos as they seek to buy petrol. The pump price drop …
The Nigerian House of Representatives has suspended discussion on the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). The decision to step down the documents was taken on Wednesday following a heated debate over how crude oil price benchmarks and revenue projections were calculated. The debate ensued in plenary immediately after James Faleke, …
Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMPRA), Engr. Farouk Ahmed, has debunked a viral statement purported to be his response to the recent allegations made against him by the President and Chief Executive of Dangote Group, Alhaji Aliko Dangote. In a terse statement released on Tuesday, December 16, Ahmed clarified …
Nigeria recorded ₦12.81 trillion as revenue from crude oil exports in the third quarter (Q3) of 2025. This is according to the National Bureau of Statistics (NBS) Foreign Trade Statistics report for Q3 2025, released last week. The report revealed that crude oil exports accounted for 56.14 per cent of total exports. The NBS data …
Nigerian Ports Authority (NPA) has reported a dramatic 1,085 per cent year-on-year surge in export-laden containers during the third quarter (Q3) of 2025. The latest operational data released by the NPA on Monday, December 15, shows that export-laden containers rose from 5,812 Twenty-foot Equivalent Units (TEUs) in Q3 2024 to 69,039 TEUs in Q3 2025. This is …
President of the Dangote Group, Aliko Dangote, has said the pump price of premium motor spirit (PMS), also known as petrol, will come down to N740 per litre at filling stations across the country. Dangote, who spoke during a media briefing in Lagos on Sunday, said the new price will take effect on Tuesday, December …
As the festive season approaches, Nigerians travelling to various parts of the country are trapped, clearly facing a difficult choice between paying high airfares or risking dangerous road travel. Nigerian roads have become increasingly unsafe due to the spate of kidnapping and armed robbery. While highway armed robbers often launch random attacks, kidnappers target the …
As the festive season approaches, Dangote Refinery has announced another slash of its gantry price of Premium Motor Spirit (PMS), also known as petrol to ₦699. This reflects a ₦129 or 15.58 per cent reduction when compared to ₦828 per litre sold previously. In a statement, the refinery said the new price takes effect on …
Minister of Petroleum Resources (Gas), Ekperikpe Ekpo, has said the newly unveiled digital platform for Gas Trading Licence, and the Clearing House & Settlement Authorisation will enhance transparency of Nigeria’s gas market and offer a framework that aligns with global best practices. Ekperikpo stated this during the official unveiling of the GTL platform on Thursday, …
Nigeria’s crude oil production recorded a slight increase from 1.401 million barrels per day (bpd) in October to 1.436 million bpd in November 2025. This reflects a 35,000 bpd month-on-month increase. This is according to the Organisation of Petroleum Exporting Countries (OPEC) Monthly Oil Market Report (MOMR) released on Thursday, December 11. OPEC said the …
