•TUC President Festus Osifo The Trade Union of Nigeria, TUC, yesterday raised the alarm that the price of Premium Motor Spirit may climb to about N2,000 per litre if urgent measures are not taken to cushion the impact of rising global crude prices and the depreciating naira. Consequently, TUC has called on the federal government […]
•Dangote Refinery loading bay Amid rising geopolitical tensions in the Middle East and their ripple effects on global energy markets, the Dangote Petroleum Refinery has increased the gantry price of petrol and diesel, further tightening pressure on consumers and businesses across Nigeria. A top official at the refinery, who confirmed the devel...
•Dangote Refinery loading bay Nigeria’s Dangote refinery has boosted exports of petrol and urea to African countries hit by supply disruptions caused by the Iran war. Aliko Dangote said yesterday that the 650,000-barrels-per-day refinery had helped cushion the full impact of the crisis both in Nigeria and across the continent, reports Channels...
•Dr. Paul Alaje Chief Economist at SPM Professionals, Dr. Paul Alaje, has advised the federal government to partner with the Dangote Petroleum Refinery in providing palliatives to the masses following the escalation in the ongoing war between Iran and the United States. He gave the advice when he appeared as a guest on Channels Television [&he...
Despite the reduction in the gantry price of Dangote Petroleum Refinery to N1,200 per litre from N1,275 per litre, oil marketers have continued to sell Premium Motor Spirit, PMS, also known as petrol, at N1,330 per litre and above in Lagos and its environs. Motorists had expected that with the N75 per litre reduction by […]
The steady rise in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, has intensified economic hardship across Nigeria, with prices climbing to nearly N1,400 per litre in several parts of the country, triggering widespread anxiety among transporters, commuters, and businesses. Findings across major cities indicated that th...
Global oil prices took a dramatic turn today, jumping by five per cent, after dropping to $88 per barrel yesterday, according to market data. Brent hits $92.43 per barrel as of 10: 56 AM WAT, signalling a 5.27 per cent increase, reports Channels TV. It had initially hit over $100 per barrel on Monday as […]
Dangote Petroleum Refinery has revised its ex-depot prices, increasing the gantry price of Premium Motor Spirit (PMS), or petrol, to ₦1,175 per litre, while Automotive Gas Oil (AGO), commonly known as diesel, has been raised to ₦1,620 per litre. The latest revision marks the fourth consecutive price review in less than two weeks amid global [&...
•Petrol price hike On the heels of upward adjustments in the pump price of petrol three days ago, Nigerians may face another round of increases following a sustained rise in crude oil prices on the international market. The price of Nigeria’s Bonny Light crude rose to $70.30 per barrel from $64 per barrel last week, […]
•Fuel pump Private petroleum depots across Lagos and other key fuel trading hubs have raised the ex-depot price of Premium Motor Spirit (petrol) to as high as N800 per litre. Data obtained from petroleumprice.ng yesterday showed that the average cost of petrol at private depots increased sharply within 48 hours, tightening margins for marketer...
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