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…
Nigeria’s push to rely more on local petrol production is facing an unexpected problem. The Dangote Refinery says rising Nigeria petrol imports are making it harder to plan production and could force it to export excess fuel instead of selling it at home. The warning comes as imported petrol accounted for about 43% of the…
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…
A tanker overturning on a Lagos road should normally be a road safety emergency. But videos showing residents rushing to scoop diesel from an overturned tanker reveal something much bigger: poverty in Nigeria is pushing people towards risks they know could kill them. The recent Lagos tanker incident saw residents gather around spilled diesel with…
The continuing conflict involving Iran is creating a strange situation in the global energy market: oil companies are making much more money at the same time that higher energy prices are putting pressure on consumers and businesses. Saudi Aramco, ExxonMobil and Chevron are among the major energy companies benefiting from the sharp changes in oil…
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…
