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…
Petrol prices are beginning to fall at some filling stations in Nigeria as cheaper depot supplies start to reach the retail market. MRS has reduced its petrol price in Lagos and surrounding areas from ₦1,370 to ₦1,350 per litre, while some independent marketers are now selling at around ₦1,360. The changes mark one of the…
Nigeria is targeting September 24, 2028, to end regulated pricing in the domestic gas market, moving toward a willing buyer, willing seller gas market where prices are increasingly determined through commercial agreements. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced the target on September 24, 2026, at a Gas Market Maturity Workshop in…
Nigeria’s petrol supply is undergoing a major shift as the Dangote Refinery supplied 71% of the country’s petrol in August 2026, pushing fuel imports sharply lower. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that domestic petrol receipts rose 39% from 25.8 million litres per day in July to 35.9 million…
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 Middle East oil crisis is beginning to affect the global energy market in a way that goes beyond crude oil prices. A new Wood Mackenzie analysis estimates that the prolonged conflict could reduce global crude processing by 1.4 million barrels per day in the fourth quarter of 2026, as refinery disruptions and problems around…
The surge in global oil prices is creating a new fuel-price problem for Nigeria as Brent crude oil moves above $100 per barrel, putting fresh pressure on petrol and diesel prices. Analysts and petroleum marketers have warned that petrol could move towards ₦1,500 per litre, while diesel could cross ₦2,000 in some markets if international…
