Category: Energy & Oil

Dangote Petroleum Refinery has ended naira-based pricing for Premium Motor Spirit (petrol), fixing its gantry ex-depot price at $0.779 per litre under a new dollar-denominated framework for refined products effective July 13, 2026. At the official exchange rate of N1,380.50 to the dollar, the new reference price translates to roughly N1,075.61 per litre — but […]

Nigeria’s crude oil production averaged 1.56 million barrels per day in June 2026 — the country’s highest monthly output in 74 months, and enough to push it past the production quota assigned by the Organisation of the Petroleum Exporting Countries (OPEC). Crossing the OPEC quota is a symbolic and practical milestone. For years, Nigeria chronically […]

The Nigerian National Petroleum Company Limited (NNPC Ltd) remitted N6.961 trillion to the Federation Account between January and May, up from N5.583 trillion recorded through April — underlining the company’s central role in funding federal, state and local governments. Its monthly report summary for June also declared a profit of N905 billion for the month, […]

Private depot owners across Nigeria’s downstream sector raised loading prices for petrol and diesel sharply after Dangote Refinery ended naira-denominated pricing — with petrol jumping by about N113 per litre. The increase is the first concrete market reaction to the refinery’s new dollar-based framework, which pegged its gantry price at $0.779 per litre. With the […]