Dangote Petroleum Refinery has announced an increase in the gantry price of Premium Motor Spirit (PMS), also known as petrol, to ₦799 from ₦699, reflecting a ₦100 increase. Also, the refinery’s distribution partners, such as MRS retail outlets, are now selling at ₦839 per litre, a ₦100 increase from ₦739 previously. This was announced in …
Between late 2025 and early 2026, the Nigerian petrol market has begun to gradually feel what seems like the effect of deregulation, with the rising competition among marketers triggered by the entry of Dangote Refinery. The 650,000 barrels per day refinery, which began operations in 2024, has significantly ramped up production, challenging the long-standing import-based …
As the key driver of economic development, Nigeria’s energy sector has, over the years, been influenced by events, policies and actions. Nigeria's energy sector in 2026 faces several significant events, all testing whether recent reforms can translate into tangible improvements in oil and gas production, power supply, and investments in other subsectors. The major issues …
Dangote Petroleum Refinery has debunked a report circulating in sections of the media claiming that the refinery is shutting down due to maintenance issues. In a statement released on Monday, the refinery management described the reports as “false and misleading” and accused fuel importers of deliberately sponsoring such fabrication because they felt their commercial interests …
By David Okon Nigeria’s economic story in 2025 was not defined by a single reform or headline moment. It was shaped by sequencing. A deliberate effort to stabilise the macroeconomy, restore institutional credibility, and align security, fiscal, and market policy toward growth. At the centre of this sequencing stood the Minister of Finance and Coordinating …
One year after the Nigeria National Petroleum Company (NNPC) Limited declared the resumption of the Port Harcourt and Warri refineries, both facilities are currently shut down, fuelling intense public backlash and scrutiny. Despite multi-billion-dollar investments and celebratory commissioning ceremonies held in late 2024, the state-owned refineries have largely failed to sustain operations. Pinnacle Daily recalls …
In a swift move considered as a measure to avoid a conflict of interest, the newly appointed Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr Saidu Aliyu Mohammed, has withdrawn his acceptance of a board seat at Seplat Energy Plc. Pinnacle Daily had reported that President Bola Tinubu, last …
Nigerians have called on the Nigerian National Petroleum Company (NNPC) Limited to drop its pump prices of petrol below what is sold by Dangote Refinery distribution partners. This public demand further highlights a fascinating shift in Nigeria’s downstream oil market, now characterized by rising competition between the state-owned oil firm and private marketers. The public …
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 …
President Bola Tinubu has asked the Senate to approve the nominations of two new chief executives for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The requests followed the sudden resignation of Engineer Farouk Ahmed of the NMDPRA and Gbenga Komolafe of the NUPRC. Both officials …
