Business

Some filling stations and petroleum products marketers, partners of Dangote Refinery’s petrol, temporarily shut down for the past five days after the latest premium motor spirit price drop by the 650,000 barrels per day refinery.‎‎News men reports that for the past five days, MRS filling stations in Abuja, along Kubwa Expressway, and others have not […]

Fresh from implementing a ₦15 price reduction in its loading cost for Premium Motor Spirit, also known as petrol, the Dangote Refinery has again slashed its refined product prices to make them cheaper, cutting its ex-depot rate to ₦835 per litre.‎‎The new price represents a ₦30 reduction from ₦865 per litre implemented six days ago, […]

The Independent Petroleum Marketers Association of Nigeria has explained that the eventual renewal of the naira-for-crude deal between the Nigerian government, the Dangote Refinery and other refiners could not crash the price of Premium Motor Spirit because of the forces of demand and supply and depreciation in the foreign exchange rate.‎‎This was disclosed by the […]

The Organisation of the Petroleum Exporting Countries on Monday slightly cut its forecast for oil demand growth, citing the impact of US tariffs on the world economy. A report by Reuters quoting the OPEC Monthly Oil Market Report for April said the Secretariat now sees demand growing by 1.3 million barrels per day in 2025, […]

The Federal Government has maintained the need to end the importation of photovoltaic solar panels into Nigeria, saying this has cost N200bn so far. The Managing Director/Chief Executive Officer of the Rural Electrification Agency, Abba Aliyu, stated this Monday at a roundtable held in Victoria Island between the REA and the Lagos State Government. The […]

Refineries in India have turned to Nigeria for the supply of crude oil following a drop in imports from Russia. This came as the Dangote Petroleum Refinery in Lekki, Lagos, has successfully purchased its first shipment of one million barrels of Algeria’s high-quality light sweet Saharan Blend crude Bloomberg reports that India’s crude oil imports […]