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 …
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 …
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, 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 …
President of Dangote Group, Alhaji Aliko Dangote, has once again restated his call on African entrepreneurs to think of bringing their investments home. Dangote, who spoke at the Imo State Economic Summit 2025 on Thursday, argued that domestic investments attract foreign investments. “One advice that I have is that most of our own entrepreneurs please …
Dangote Petroleum Refinery and major oil marketers have set new lower prices for Premium Motor Spirit (PMS), commonly known as petrol, amid rising competition in the downstream market. Pinnacle Daily’s checks showed a slight drop in petrol prices at various depots by major importers and the Dangote Refinery. The price adjustment comes after a drop …
Dangote Petroleum Refinery & Petrochemicals has said it is ready to supply 1.5 billion litres of Premium Motor Spirit (PMS), also known as petrol, per month to the Nigerian market in December 2025 and January 2026. This translates to 50 million litres per day. The refinery also said it will increase PMS supply to 1.7 …
Nigeria’s daily petrol consumption rose to an average of 56.74 million litres in October 2025, according to a report released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). This reflects a 19.4 per cent year-on-year increase compared with the average daily consumption of 47.5 million litres in October 2024. The NMDPRA Fact Sheet, …
The emergence of the Dangote Refinery is fundamentally reshaping Nigeria's oil industry, leading to a sharp decline in the country's dependence on imported fuel from places like Malta. According to TradeMap data, Nigeria's imports of Malta petroleum oils and oils derived from bituminous minerals fell to $818 million in 2024, down from more than $2.1 …
