The downstream regulator says it does not fix prices of petroleum products under the Petroleum Industry Act The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has intensified surveillance along Nigeria’s border corridors to curb petrol smuggling and illegal cross-border diversion as rising Premium Motor Spirit (petrol) prices deepen pressure on households, transport operators …
Nigeria’s cost-of-living crisis may be deepening as the price of Premium Motor Spirit (PMS), popularly known as petrol, rises to about ₦1,500 per litre in parts of the country, raising fresh concerns over household budgets, transport costs and business operating expenses. The latest price surge follows recent adjustments of the ex-depot price of petrol by …
Despite increasing its ex-depot price of Premium Motor Spirit (petrol), in the last one week, Dangote Petroleum Refinery’s cost still remains lower than imported products. Pinnacle Daily’s analysis of available trade data shows that the landing cost of imported petrol in Nigeria has risen above the ex-depot price offered by Dangote Refinery despite periods of …
The Dangote Petroleum Refinery has increased prices for both Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (diesel), following a surge in global crude oil prices above $93 per barrel. The refinery raised its gantry price by ₦20 per litre, from ₦1,165 to ₦1,185 per litre. This represents a partial reversal of a …
Dangote Petroleum Refinery has expanded its free petrol delivery scheme to four additional states as of August 2026, bringing the total to 10 locations nationwide. States now Covered The scheme now includes the original six locations—Lagos, Ogun, Rivers, Kaduna, Delta, and the FCT (Abuja)—and has added Kano, Imo, Anambra, and Nasarawa. The company stated that …
Dangote Petroleum Refinery has reversed its recent dollar-pricing policy, resuming the sale of petrol in naira and setting a new ex-depot gantry price of ₦1,215 per litre. The decision, announced on Wednesday, provides a measure of relief to marketers and consumers by eliminating foreign exchange exposure that had complicated planning and squeezed margins for local …
The drop in global crude oil prices in recent weeks has triggered calls for a commensurate adjustment of fuel pump prices across Nigeria. This comes as retail prices of Premium Motor Spirit (PMS), also known as petrol, remain relatively high, currently trading between ₦1,155 and ₦1,300 per litre, sparking debates about the sustainability of the …
Dangote Petroleum Refinery has rolled out a major direct distribution strategy, providing free petrol delivery to six select states across Nigeria. In a statement via its X handle on Wednesday, the $20 billion refinery indicated that the free delivery scheme will start in Lagos, Ogun, Rivers, Kaduna, Abuja and Delta. It added that the scheme …
Dangote Petroleum Refinery has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, cutting it by N50 per litre to N1,075, marking the fourth price cut by the refinery within a single month. The company confirmed the price cut in a statement released on Thursday, July 2. The …
The easing of crude oil prices in the international market has raised expectations of a significant drop in petrol pump prices across retail stations in Nigeria; however, consumers groan over what they consider a “token” adjustment in prices by marketers. Crude oil had surged to a peak of $120 per barrel following geopolitical tensions in …
