DESOPADEC Strengthens Community Empowerment Programme THE Delta State Oil Producing Areas Development Commission (DESOPADEC) has boosted a business empowerment programme initiated by Kestin Pondi with an additional ₦100 million, expanding the number of beneficiaries to 80. The intervention was announced during the grand finale of the entrepreneurship grant initiative held on March 9, 2026, where […]
Dangote Refinery Raises Petrol, Diesel Depot Prices DANGOTE Petroleum Refinery has raised its ex-depot prices for petrol and diesel, marking the fourth adjustment within two weeks and signalling increasing pressure in Nigeria’s downstream petroleum market. Under the new pricing template communicated to fuel marketers, the gantry price of Premium Motor Spirit (PMS), commonly known as […]
NMDPRA Explains Rising Fuel Prices THE Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has attributed the recent rise in petrol pump prices across Nigeria to market forces operating under the country’s deregulated downstream petroleum sector. According to the authority, price fluctuations are expected within a deregulated market where supply, demand, and global events influence […]
Rising Tensions Push Oil Prices CRUDE oil markets reacted sharply Friday to escalating hostilities in the Middle East. Brent crude jumped 8.5 percent to $92.69 per barrel, while WTI rose more than 12 percent to over $90, completing the largest weekly gain on record. The surge follows US President Donald Trump’s warning that only Iran’s […]
Long Queues at MRS Stations FUEL queues are resurfacing across Lagos as petrol prices climb above ₦1,000 per litre. On Saturday morning, motorists and commercial drivers were spotted forming long lines at MRS filling stations along the Ibadan/Lagos Expressway, where Premium Motor Spirit (PMS) was still being sold at ₦937 per litre. Other stations on […]
Refinery Adjusts Price as Global Oil Market Tightens THE Dangote Petroleum Refinery and Petrochemicals has raised its petrol gantry price to ₦995 per litre, marking another increase in domestic fuel pricing amid rising global crude oil costs linked to tensions in the Middle East. The adjustment comes only days after the refinery increased its ex-depot […]
Anambra Announces Recovery of Oil Wells The government of Anambra State has announced the recovery of 10 oil wells previously attributed to Delta State, a development that could significantly increase the state’s revenue profile if confirmed by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC). The disclosure was made in Awka by Charles Ofoegbu, Managing […]
By ESTHER McWILLIS-IKHIDE GLOBAL oil prices climbed sharply on Tuesday, with Brent Crude rising to $85 per barrel, as escalating tensions involving the United States, Israel, and Iran intensified fears of supply disruptions in the Middle East. The international benchmark gained about 8 per cent, marking its first return to the $85 level since June […]
Warning of Imminent Price Shock AN economic expert has cautioned that petrol prices in Nigeria may soon reach ₦1,000 per litre if ongoing military tensions between the United States, Israel and Iran escalate further. Paul Alaje, Chief Economist at SPM Professionals, issued the warning during an appearance on Politics Today on Channels Television. He said […]
Pump Prices Rise in Major Cities PETROL prices have surged across parts of Nigeria, with pump prices hitting ₦960 per litre in Abuja and ₦935 per litre in Lagos, following escalating tensions in the Middle East that have disrupted global oil markets. The increase comes days after Dangote Refinery adjusted its ex-depot price by ₦100, […]