Petroleum marketers have warned that the Federal Government’s proposed ₦1,350-per-litre ceiling on petrol costs could distort market prices, urging the government to allow competition and market forces to determine prices in Nigeria’s deregulated downstream petroleum sector. The Major Energies Marketers Association of Nigeria (MEMAN) said arbitrary price caps would not address the structural challenges affecting …
Supply chain disruption caused by the U.S.-Iran war exposed the fragility of Nigeria’s fuel reserve safety net The global oil market crisis triggered by escalating geopolitical tensions in the Middle East during the first half of 2026 has unleashed a fresh wave of economic hardship across Africa, with Nigeria emerging as the continent's hardest-hit …
The Major Energies Marketers Association of Nigeria (MEMAN), has said the recent surge in price of aviation fuel also known as Jet A1, is primarily driven by global geopolitical tensions and high local logistics costs, not solely by market manipulation. MEMAN has also strongly disputed the specific price figures cited by airlines, advising carriers …
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, …
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 …
