Nigeria’s oil and gas industry stakeholders have commended President Bola Tinubu over his administration’s economic policies, attributing the recent reduction in price of diesel to the gains of the policies. According to them, the president’s fuel subsidy removal and unification of various foreign exchange rates which initially signposted econ...
•Dangote refinery The Dangote Petroleum Refinery has listened to the calls of oil marketers as regards the reduction in the price of Automotive Gas Oil, popularly called diesel. Yesterday, the refinery announced a reduction in the price of diesel from N1,200/litre to N1,000/litre, a development that triggered excitement among operators in the ...
•Aliko Dangote Africa’s richest man Aliko Dangote says Nigerians should expect a drop in inflation given the reduction of diesel pump prices. He stated this yesterday during a chat with journalists after he paid Eid-el-Fitr homage to President Bola Tinubu at his Lagos residence. “I believe that we are on the right track. I believe […]...
The 650,000 barrels per day (bpd)-capacity Dangote Petroleum Refinery has finally rolled out with the sale of Automotive Gas Oil (AGO), otherwise known as diesel. It was learnt that the sale of the product from the refinery began yesterday, reports The Nation. A source, who asked not to be identified, said the product was sold […]
•National Bureau of Statistics complex The National Bureau of Statistics says the retail price of a litre of diesel increased from N836.91 in February 2023 to N1,257.06 in February 2024. The statistics office stated this in its latest Diesel Price Watch for February 2024 released in Abuja today. It stated that the February 2024 price […...
Nigeria spent N2.7 trillion to import premium motor spirit (PMS), diesel and jet fuel in the third quarter of 2023, data by the National Bureau of Statistics (NBS) has shown. Coming amidst the inability to overhaul the country’s refineries, white products have remained the largest import of the country, reports The Guardian. The total import [...
Manufacturers have expressed concerns as the price of diesel has risen to N1,275 per litre in Lagos and above N1,300 outside the state. The product is selling for N1, 270 per litre in Kano State and above that outside the metropolis, reports Daily Trust. This implies a 26 percent increase in the price of the […]
There is growing apprehension in the manufacturing and aviation sectors that the rising costs of diesel and aviation fuel will lead to the total collapse of more industries and airlines operating in the country. In Kano, Ogun, Edo, Delta, Kogi, Lagos, and Kwara states, the Manufacturers’ Association of Nigeria told our correspondent yesterday ...