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The Dangote Petroleum Refinery has raised its gantry price for Premium Motor Spirit (PMS), commonly known as petrol, by ₦85 per litre, moving the price from ₦1,265 to ₦1,350. The latest adjustment represents an increase of about 6.7 per cent and comes amid renewed pressure in Nigeria’s downstream petroleum market, with crude oil prices climbing…
Petrol consumers in Nigeria could face fresh price pressure after international crude oil prices surged above $107 per barrel, raising concerns about higher fuel production and replacement costs in the country’s deregulated downstream petroleum market. Brent crude, the global benchmark, jumped sharply on Thursday, settling at about $107.63 per barrel after gaining more than…
The Nigerian National Petroleum Company Limited (NNPCL) has raised the retail price of Premium Motor Spirit (PMS), popularly known as petrol, with motorists in Lagos now facing a pump price of ₦1,299 per litre, while some NNPCL stations in Abuja are selling the product for as much as ₦1,345 per litre. The latest adjustment represents…
Read More “Fuel Price Shock: NNPCL Raises Petrol to N1,299 in Lagos, N1,345 in Abuja” »
The Dangote Petroleum Refinery and Petrochemicals has increased its gantry price for Premium Motor Spirit (PMS), popularly known as petrol, from N1,185 to N1,200 per litre, in a fresh adjustment that could put additional pressure on fuel prices across Nigeria. The N15 increase took effect on Wednesday, August 26, 2026, according to a price adjustment…
Read More “Dangote Refinery Raises Petrol Price to N1,200, Sparks Fresh Pump Price Concerns” »
Dangote Petroleum Refinery has announced that it will stop selling petrol in naira beginning Sunday, September 28, 2025, after running out of crude oil allocations priced in the local currency. In a memo to customers, the refinery explained that it had already sold petroleum products beyond the volume covered by its naira-crude quota and could…
Read More “Dangote Refinery Suspends Petrol Sales in Naira as Crude Allocation Runs Out” »
The Federal Government yesterday engaged the Labour over the recent petrol price hike. The meeting was held at the Office of the Secretary to the Government of the Federation (OSGF), with representatives from both government and Labour in attendance. Rextun City Updates gathered that the meeting discussed the consequential adjustment of the new minimum wage,…
The Trade Union Congress of Nigeria, TUC, has expressed dismay and hence condemned Tuesday’s hike in the pump price of the Premium Motor Spirit, PMS, commonly known as Petrol, demanding its immediate reversal by the Federal Government. TUC in a statement by its President, Festus Osifo, contended that the sudden hike in fuel and electricity…
Read More “TUC Condemns Fuel Price Hike, Demands Reversal” »