The Dangote Petroleum Refinery has begun selling petrol and other refined petroleum products in U.S. dollars, marking a major shift in Nigeria’s downstream oil market following the breakdown of the Federal Government’s naira-for-crude arrangement. Under the new pricing template, the refinery fixed the ex-depot price of petrol at $0.779 per liter, with diesel priced at…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has appealed to motorists not to engage in panic buying despite warning that localized fuel queues could emerge in parts of Lagos and Abuja this week due to temporary logistics challenges affecting private fuel depots. According to the association, the supply disruption is not linked to a…
The Nigerian Senate has ordered the arrest of the former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari. This is over an alleged failure to account for about ₦210 trillion flagged in audit queries covering the company’s financial records between 2017 and 2023. The order was issued by the…
