Tag: Petrol Price

Jubilation, as fuel price reduces in Abuja 

Aminu Imam
FCT fuel price

Fuel stations in Abuja yesterday reduced the pump price of petrol after the Federal Government stopped the planned 15% import duty on petrol and diesel. The price change involved stations such as Ranoil and Empire, which adjusted their rates because the suspended duty removed the fear of an extra charge that would have raised the cost of fuel. Ranoil now sells petrol at ₦940 per litre, while Empire adjusted to ₦949 per litre, both coming down from ₦955. According to reports, many other stations across Abuja and nearby areas are…

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Ɗangote Refinery reduces petrol price by ₦49 per litre 

Aminu Imam
Ɗangote Refinery reduces

The Ɗangote Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (petrol) by ₦49 per litre, bringing the new rate to ₦828 per litre from the previous ₦877. The latest review, representing a 5.6 per cent decrease, took effect on Friday and marks the second major downward adjustment by the refinery in the past three months. The move comes as the company continues to respond to global oil market dynamics and efforts to stabilise domestic fuel supply. “Ɗangote has reduced gantry price from ₦877 per…

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Petrol may jump to ₦1,163/litre as FG proposes new tariff

Aminu Imam
FG proposes petrol tariff

…Stakeholders kick, fear inflation, worsening poverty   President Bola Ahmed Tinubu’s administration is proposing a new tariff regime that could see motorists and industries pay an estimated ₦4.8 trillion yearly in fresh taxes on petrol and diesel. Coming amid worsening poverty, the new tax regime and the government’s inability to cushion the impact of subsidy removal, the 15 percent import duty, alongside the 7.5 per cent Value Added Tax (VAT) attached to tariffs, is expected to raise fuel prices by at least 22.5 percent, pushing the pump price of petrol from…

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Marketers worsen economic hardship over fuel, gas prices hike

Aminu Imam

Nigeria’s downstream petroleum sector is currently under siege from powerful oil cartels taking advantage of a temporary disruption in the supply of petrol and Liquefied Petroleum Gas (cooking gas) to the Nigerian market to inflate prices, findings have revealed. Many marketers, including filling stations and tank farm owners, checks revealed, have created artificial scarcity in an attempt to make huge profit from the limited products supplied into the market by Ɗangote Refinery, which has been battling to repair some faulty parts of the plant that have prevented it from attaining…

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Petrol: Marketers raise prices amid drop in crude cost

Aminu Imam
Marketers raise prices

Filling stations have raised their pump prices for petrol to ₦900/litre and above despite a decline in the cost of crude oil since Sunday. Some retail outlets owned by the Nigerian National Petroleum Company Limited (NNPCL) raised petrol prices to ₦900 per litre in Lagos and Ogun states, even as crude prices dropped from nearly $69 to $66 per barrel. Dangote refinery partners, including Ardova and Heyden, jerked prices above ₦900 per litre. Our correspondent observed that AP, a partner of the Dangote refinery, sold petrol at the rate of…

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NNPCL again raises petrol price to ₦945; second hike in 4 days

Aminu Imam
NNPCL raises

The Nigerian National Petroleum Company Limited, (NNPCL), has again increased the pump price of Premium Motor Spirit (PMS) across its retail outlets nationwide, marking the second upward adjustment in just four days. According to reports, on Friday, it was revealed that NNPCL stations in Kubwa, Lugbe Expressway, Wuse Zone-4, and Wuse Zone-5 in Abuja now sell petrol at ₦945 per litre. The exact price was recorded in NNPCL outlets in parts of Nasarawa and Kogi states. Confirming the hike, the National Chairman of the Independent Petroleum Marketers Association of Nigeria…

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Again, NNPCL reduces petrol price

Aminu Imam
NNPCL on petrol

The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of premium motor spirit (PMS), better known as petrol, marking the second downward adjustment within one week. A reduction of ₦5 from the previous price of ₦895 was implemented across several NNPCL retail outlets in Abuja, including locations along the Kubwa Expressway, Gwarimpa, and Wuse Zone-4. According to reports, the new price of a litre of petrol at NNPCL”s retail outlets in Ibadan, Oyo State, has been pegged at ₦875. The latest adjustment comes barely a week after…

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Ɗangote slashes ex-depot petrol price to ₦840/litre

Aminu Imam
Dangote slashes petrol price

Ɗangote Petroleum Refinery has reduced the ex-depot price per litre of petrol from ₦880 to ₦840. The downward review of the price of the premium commodity was confirmed in an update provided on Monday by the spokesman for the refinery, Tony Chiejina. Chiejina said the new ex-depot price took effect on Monday, June 30, 2025, about a week after the Lagos-based refinery jacked up the ex-depot price per litre of petrol to ₦880. Filling stations like MRS Oil & Gas, Ardova Plc, Heyden, and others with special agreements with the…

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Ɗangote refinery cuts petrol price by ₦15 to ₦875 nationwide 

Aminu Imam
Ɗangote petrol price

Ɗangote Petroleum Refinery & Petrochemicals yesterday announced a further reduction of ₦15 in the price of its high-quality Premium Motor Spirit (PMS), bringing the new price in Lagos down to ₦875 per litre. The latest cut will see petrol retail for ₦885 per litre in the South-West, N895 in the North-West and North Central, and N905 in the South-East, South-South, and North-East. These prices will apply through all its partners, including MRS, AP (Ardova), Heyden, Optima Energy, Techno Oil, and Hyde. The refinery called on other marketers to join its…

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Petrol: Ɗangote Refinery raises price to ₦955/litre

Aminu Imam
Ɗangote Refinery raises price

…As crude oil hits $82/barrel The Ɗangote Petroleum Refinery has announced a hike in the price of Premium Motor Spirit (PMS), a.k.a petrol, citing the rising cost of crude oil in the global market.  The new pricing structure, released in a statement yesterday, sets the bulk purchase price of Premium Motor Spirit (PMS) at ₦955 per litre for buyers purchasing between 2 million and 4.99 million litres, while those buying 5 million litres or more will pay ₦950 per litre. This adjustment marks a 6.17% increase, equivalent to ₦55.5 per…

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