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The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, has explained why the pump price of petrol has not fallen below ₦1,000 per litre in Nigeria, despite recent reductions in the ex-depot price by the Dangote Refinery. Speaking after a stakeholders’ meeting convened by the Federal Government, Gillis-Harry…
The Federal Government has announced plans to deploy seven million electricity meters across Nigeria in a major effort to eliminate estimated billing, improve transparency in electricity charges, and strengthen the country’s power sector. The initiative forms part of ongoing reforms aimed at increasing consumer confidence and boosting revenue collection within the electricity industry. The disclosure…
Read More “FG to Deploy 7 Million Electricity Meters Nationwide to End Estimated Billing” »
Nigeria’s downstream petroleum sector received a significant boost on Tuesday as the Dangote Petroleum Refinery announced a reduction in its ex-gantry price of Premium Motor Spirit (PMS), popularly known as petrol, by ₦75 per litre. The new gantry price now stands at ₦1,175 per litre, down from the previous ₦1,250 per litre. According to information…
Read More “Dangote Refinery Slashes Petrol Gantry Price by N75 to N1,175 per Litre” »
Global crude oil prices fell sharply on Monday after the United States, Israel and Iran reached a preliminary agreement aimed at ending months of conflict across the Middle East and reopening the strategically important Strait of Hormuz, a key route for global energy supplies. Brent crude, the international benchmark for oil prices, dropped by about…
Read More “Oil Prices Drop to $82 per Barrel as US, Israel and Iran Move to End Conflict” »
Dangote Petroleum Refinery has achieved a significant milestone in its journey toward a public listing, with the facility now being valued at approximately $39.1 billion through its ongoing private placement exercise. The development comes amid growing investor appetite for a stake in the refinery, which is widely regarded as one of Africa’s most transformative industrial…
President of the Dangote Group, Aliko Dangote, has confirmed that the company turned down attempts by the Nigerian National Petroleum Company Limited to increase its existing 7.25 per cent stake in the Dangote Petroleum Refinery. Dangote disclosed this during an interview with Nicolai Tangen, Chief Executive Officer of Norway’s Sovereign Wealth Fund, monitored on Wednesday….
Read More “Dangote Rejects NNPCL Move to Increase Refinery Stake Ahead of Planned Public Listing” »
The cost of cooking gas in Nigeria has surged again, with the average retail price for a 5kg cylinder now standing at ₦7,655, according to the latest data released by the National Bureau of Statistics (NBS). The new figure represents a year-on-year increase of about 4.55 percent compared to ₦7,322 recorded in the same period…
Dangote Group has disclosed that its flagship oil facility, Dangote Petroleum Refinery, has been absorbing part of the cost of petrol and diesel supplied to the Nigerian market in a bid to cushion price pressures on consumers. A senior management official within the group confirmed that the refinery has effectively been subsidising refined petroleum products,…
Read More “Dangote Refinery Absorbing Fuel Costs to Stabilise Nigerian Market — Senior Official” »
Global energy markets recorded a sharp turnaround on Friday as the strategic Strait of Hormuz was declared open to commercial shipping, triggering a steep drop in crude oil prices and raising expectations of relief for petrol consumers in Nigeria. The reopening followed a fragile ceasefire in the Middle East involving Iran, the United States, and…
Read More “Hormuz Reopens: Global Oil Prices Tumble, Nigeria Eyes Petrol Relief Below N1,000” »
By Babatunde Opoola Democracy thrives when citizens make informed choices; choices guided not by sentiment or noise, but by clarity of record, character, and capacity. Where such information is lacking, the electorate risks drifting in uncertainty, often mistaking promises for performance. In many political environments, it is common for public opinion to follow familiar patterns,…