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NNPC Still Open to Crude Supply in Naira to Dangote Refinery, Others

The Nigerian National Petroleum Company Limited (NNPCL) has responded to reports regarding the alleged unilateral termination of a crude oil sales agreement in Naira with Dangote Refinery, insisting that it was still open to continue the arrangement on mutually beneficial terms. In a statement on Monday, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, clarified that […]

Petrol Prices to Keep Falling Until Mid-Year, Rewane Predicts

The Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has predicted that the price of Premium Motor Spirit (petrol) will continue to decline until June 2025. Both Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) have significantly reduced fuel prices in recent weeks, alleviating financial pressure on millions of Nigerians who depend […]

Fuel Price Battle: NNPC Cuts Rates to Rival Dangote Refinery

Competition for market share between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) has intensified, with the latter reducing the price of Premium Motor Spirit (PMS) to ₦860 per litre. A market survey conducted by Channels Television on Tuesday confirmed the development. This price cut follows Dangote Refinery’s recent decision to absorb a […]

Dangote Refinery Holds N600bn Fuel Stockpile, Vows Market Stability

The President of Dangote Industries Limited (DIL), Aliko Dangote, has disclosed that his company’s petroleum refinery has over N600 billion worth of petrol in storage, sufficient to meet Nigeria’s domestic demand. Dangote’s statement counters that of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which recently claimed that only 50 per cent of the […]

NNPCL vs. Dangote Refinery: Court to Decide on Jurisdiction Dispute

Justice Inyang Ekwo of the Federal High Court in Abuja has fixed 18 March for ruling on a preliminary objection filed by the Nigerian National Petroleum Company Limited (NNPCL) against a lawsuit brought by Dangote Petroleum Refinery and Petrochemicals FZE over an oil import licence dispute. Justice Ekwo set the date after hearing arguments from […]

Price Cuts by NNPCL and Dangote Refinery Spark Market Rivalry

The Nigerian National Petroleum Company Limited (NNPCL) has reduced the ex-depot price of petrol to ₦899 per litre, following a similar price adjustment by the Dangote Refinery. This reduction marks a significant step in the competitive landscape of Nigeria’s downstream oil sector. PETROAN, the association of petroleum retailers, praised the move as a “significant milestone” […]

IPMAN Partners Dangote Refinery to Distribute Fuel Distribution

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has entered into a direct supply agreement with Dangote Refinery to streamline product distribution. This development was disclosed in Abuja on Monday by IPMAN National President Abubakar Garima, following a National Working Committee meeting. According to Garima, the collaboration aims to ensure a consistent and affordable supply […]

NNPC Ends Fuel Imports, Focuses on Dangote Refinery to Meet Local Demand

The Nigerian National Petroleum Company Limited (NNPC) announced an end to decades of fuel importation, declaring its shift to sourcing all petroleum products domestically from the 650,000 barrels per day Dangote Refinery in Lagos. The move, expected to save Nigeria approximately $10 billion annually, was announced by NNPC’s Group Chief Executive Officer, Mele Kyari, at […]

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