The NNPC profit after tax 2025 has climbed by 33 percent to ₦7.2 trillion, even though the company’s revenue fell during the year as crude oil prices declined and petroleum product volumes dropped. The Nigerian National Petroleum Company Limited announced the audited results on Tuesday, September 29, showing a sharp rise from the ₦5.4 trillion…
The Nigeria fuel price crisis 2026 has moved into a new phase as public sector workers threaten October 2 strike to last three days, while presidential candidate Peter Obi has pledged to restore petrol subsidy if elected in 2027. The Joint National Public Service Negotiating Council (JNPSNC) has given the Federal Government until September 30…
Nigeria’s latest petrol price debate has shifted from whether President Bola Tinubu should reduce fuel prices to a more fundamental question: how much control does the Federal Government actually have over the pump price? Minister of State for Petroleum Resources, Heineken Lokpobiri, said on Tuesday, September 22, that the Tinubu administration cannot directly increase or…
The Federal Government is trying to hold the line on two major household costs as Nigerians continue to deal with higher living expenses: electricity tariffs and petrol prices. On September 21, 2026, the Minister of Power, Joseph Tegbe, said there were no plans to increase electricity tariffs for now, following reports that another hike could…
Nigeria’s latest petrol price increase has revived an uncomfortable question for an oil-producing country: why does fuel remain so expensive for Nigerian workers even as domestic refining capacity expands? Petrol is now selling at around ₦1,400 per litre in Lagos and Abuja, with prices reaching about ₦1,500 in parts of northern Nigeria, according to recent…
The Nigeria 2027 presidential election is already producing a major debate over what opposition candidates would do differently, with fuel prices and the future of petrol pricing emerging as key issues. Oyo State Governor and Allied Peoples Movement presidential candidate Seyi Makinde has rejected a return to the old fuel subsidy system, instead proposing cheaper…
Brent crude has climbed above $95 per barrel as renewed US-Iran tensions raise fears of disruptions to oil supplies through the Strait of Hormuz, one of the world’s most important oil shipping routes. Brent reached about $95.40 in early trading on Wednesday, while WTI moved above $90. For Nigeria, the immediate concern is not simply…
The Dangote Refinery petrol supply to Nigeria’s domestic market fell sharply in July, while petrol imports increased, highlighting the delicate balance between local refining and foreign fuel supplies. New data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that domestic petrol receipts dropped from 32.5 million litres per day in June to…
The Dangote Petroleum Refinery has reduced its ex-depot prices for petrol and diesel, cutting petrol to ₦1,165 per liter and diesel to ₦1,570 per liter. The refinery said the move is aimed at improving energy affordability and access to locally refined products. The important question now is not just how much Dangote has cut its…
Nigerians could see some relief at the pumps after petroleum marketers reduced depot prices of Premium Motor Spirit (PMS) by as much as ₦23 per litre, a move expected to ease retail fuel prices if sustained. The price adjustment comes amid increased competition among suppliers and improving product availability across the country. Meanwhile, the National…
