NNPC Announces Fresh Petrol Price Cut THE Nigerian National Petroleum Company Limited has reduced the pump price of petrol at its retail stations in Lagos and Abuja, offering motorists a modest relief amid fluctuating fuel costs. The adjustment, which took effect on Wednesday, sets the new pump price at ₦1,130 per litre in Lagos and […]
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 […]
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 […]
Dangote Refinery Flags Cost Risks of Coastal Fuel Delivery DANGOTE Petroleum Refinery has warned that petrol prices could rise to as high as ₦1,000 per litre if Nigeria continues to rely heavily on coastal delivery of petroleum products. In a statement issued on Thursday, the refinery said gantry loading remains the most efficient and cost-effective […]
By ESTHER McWILLIS-IKHIDE PETROL imports climbed sharply to 52.1 million litres per day in November 2025, even as Nigeria’s daily petrol consumption fell to 52.9 million litres, according to new data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The regulator’s Fact Sheet shows a major jump in imports from 27.6 million litres […]
By ESTHER McWILLIS-IKHIDE THE Nigerian National Petroleum Company Limited (NNPCL) has again reduced the pump price of premium motor spirit (petrol), marking the second downward adjustment within a week. Petrol now sells for ₦920 per litre at NNPCL retail outlets in Abuja, down from ₦930, representing a ₦10 reduction. The new price was observed on […]
By TINA TOLUTOPE CRAYFISH traders across Lagos say rising fuel prices and worsening supply challenges are behind the sharp increase in seafood costs, a trend that is squeezing profit margins and discouraging buyers in major markets. From Asolo and Agric markets in Ikorodu to Oyingbo Market on Lagos Island, traders report that transportation costs, bad […]
By NINI NDUONOFIT-AKOH TENSION is quietly building across Nigeria as the depot price of Premium Motor Spirit (PMS), popularly known as petrol, climbed to ₦889 per litre this week — a fresh record that has left consumers and marketers uneasy ahead of the government’s planned 15 percent fuel tax. According to depot data obtained yesterday, […]
By ESTHER McWILLIS-IKHIDE DANGOTE Industries Limited has dismissed reports of petrol scarcity, price hikes, and disputes with PENGASSAN. Vice President Devakumar Edwin said the refinery currently holds 312 million litres of PMS ready for loading and can meet Nigeria’s fuel demand. He noted that the refinery also exports about 50% of its products to countries […]
The Trade Union Congress of Nigeria (TUC) has threatened to embark on a nationwide strike if the Federal Government fails to withdraw its proposed five per cent tax on petroleum products. TUC President General, Comrade Festus Osifo, and the union’s General Secretary, Comrade Nuhu Toro, issued the warning in a statement on Monday in Abuja. […]