For many Nigerians, the daily commute has become an exhausting test of endurance, as soaring fuel prices continue to reshape livelihoods, businesses, and basic mobility across the country. The Global Catalyst: Conflict and Crude Surges While parts of the Middle East are being ravaged by the ongoing conflict involving the United States, Israel, and Iran, …
Dangote Refinery has again raised its ex-depot price of fuel as crude oil surges above $110 per barrel in the international market. The continuous increase in prices signals more pressure in Nigeria’s fuel market. The 650,000 barrels per day refinery announced an increase in its ex-depot price of Premium Motor Spirit (PMS), also known as …
Major Energies Marketers Association of Nigeria (MEMAN) has highlighted a framework for ensuring fair pricing and a steady supply of fuel. The association’s recommendation focuses on maintaining a balance between local production and strategic imports, all underpinned by strong regulation and market-driven competition. Speaking at a quarterly webinar organised by MEMAN, the association’s Executive Secretary/CEO, …
As the world continues to experience global supply disruptions and surging crude oil prices, Dangote Petroleum Refinery has reassured its commitment to a steady fuel supply in Nigeria, emphasising that the nation's domestic refining capacity provides a crucial buffer against international market shocks. The refinery's Managing Director, David Bird, who spoke in a media chat …
Filling stations in Abuja have lowered petrol prices following the federal government’s suspension of a planned 15% import duty on petrol and diesel. On Friday, Ranoil and Empire stations reduced prices to N940 and N949 per litre, down from N955, representing a drop of N6 to N15 per litre. Chinedu Ukadike, spokesperson for the Independent …
Financial expert Funsho Doherty has slammed the recently approved 15% import duty on petrol and diesel, warning that it could further strain Nigerian households already grappling with high fuel costs. In an open letter to Senate President Godswill Akpabio, Doherty, who previously worked with Goldman Sachs & Co., PNC Advisors, Arthur Andersen, and served as …
The Nigerian government's approval of a 15 per cent import tax on petrol and diesel, primarily to protect local refineries, has, however, sparked significant concerns over higher fuel prices and increased economic hardship for citizens. A memo dated October 10, 2025, signed by Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), addressed to …
The federal government has dismissed claims that it increased the pump price of Compressed Natural Gas (CNG), clarifying that recent adjustments were made by private investors. In a statement on Thursday, the Brands and Corporate Communications Manager of the Presidential Compressed Natural Gas Initiative (PCNGI), Matilda Johnson, described reports attributing price hikes to government directives …
