The average retail price paid by consumers for Premium Motor Spirit (PMS), also known as petrol, rose to ₦1,532.93 in April 2026. Year-on-year, this indicates a 23.69 per cent increase compared to the ₦1,239.33 recorded in April 2025. Also, the average price reflects an 18.97 per cent increase from ₦1,288.54 in March 2026. According to …
In a major shift for global energy trade, the Dangote Petroleum Refinery emerged as the world's single largest exporter of jet fuel in April 2026. This was revealed in a recent S&P Global Energy report. According to the S&P Global Commodities at Sea data, the facility was able to surpass all other global exporters by …
Nigeria has continued to record shortfalls in crude oil production output, reaching 31.6 million barrels in the first four months of 2026, according to a Pinnacle Daily analysis of data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Production Below Budget Targets The NUPRC data revealed a persistent gap between projected and actual oil …
Nigeria’s downstream petroleum sector has again come into the spotlight following the legal action instituted by Dangote Petroleum Refinery against the issuance of fuel import licences and the mixed reactions it has generated among marketers. The development has sparked intense debate across the energy sector, with stakeholders sharply divided over its implications for competition, local …
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued a warning that it will sanction any entity operating in the midstream and downstream oil and gas sectors without the required licences, permits, or authorisations. The regulator’s warning is contained in a public notice issued on Sunday, May 17. The notice said the NMDPRA's …
Households and small businesses across Nigeria are battling another round of hardship as the price of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, has surged to about ₦1,600 per kilogramme in many parts of the country. This sharp increase, representing a 23 per cent jump from the average rate of about ₦1,300/kg just …
Dangote Petroleum Refinery has reduced the ex-depot price of its aviation fuel, also known as Jet A1, to ₦1,650, down from ₦1,750 per litre, giving relief to airlines, passengers and Nigeria’s aviation sector generally. Other packages offered by the refinery include a 30-day interest-free credit facility for marketers and airline operators, backed by bank guarantees, and a shift …
Dangote Petroleum Refinery has filed a fresh lawsuit against the Nigerian government, seeking to nullify recent fuel import licences issued to the Nigerian National Petroleum Company (NNPC) and other marketers. The case filed against the Attorney General of the Federation at the Federal High Court in Lagos has reignited fresh tension in the downstream petroleum …
Petrol imports into Nigeria dropped by 37.3 per cent from 5.9 million litres per day in March to 3.7 million litres per day in April 2026. This comes as local refineries led by Dangote Refinery continued dominance of the domestic market, rising this time to 91.7 percent share of the market. This is according …
The fresh move for rehabilitation of the Warri and Port Harcourt refineries has sparked reactions as industry stakeholders, policy observers, and civil society groups expressed doubt about the success of the exercise. They have called for a comprehensive audit of billions of dollars spent on past repairs before the Nigerian government proceeds with a new deal …
