BUSINESS

CBN Projects Petrol Price Increase to N950 Per Litre in 2026

Daily Dispatch January 10, 2026

The Central Bank of Nigeria (CBN) has projected that Premium Motor Spirit (PMS), also known as petrol, could rise to around N950 per litre in 2026. The forecast is based on an average crude oil price of $55 per barrel, domestic crude production of 1.5 million barrels per day, and an assumed

BUSINESS

Oil marketers face massive monthly losses of ₦102.48 in a brutal petrol price war with Dangote Refinery.

Daily Dispatch December 16, 2025

Petroleum importers and marketers in Nigeria are reeling from substantial financial losses amid an intensifying price war triggered by Dangote Petroleum Refinery’s sharp reduction in petrol prices. The refinery slashed its gantry price from ₦828 per litre to ₦699 per litre, forcing competitors to follow suit and resulting in projected monthly losses of up to […]

BUSINESS

Filling Stations to Dispense Petrol at N739 From Tuesday — Dangote

Daily Dispatch December 15, 2025

Petrol prices across Nigeria are set to drop to N739 per litre from Tuesday, according to Aliko Dangote, President of the Dangote Group. Dangote disclosed this while speaking on efforts to stabilise fuel supply and pricing following the commencement of large-scale production at the Dangote Petroleum Refinery. He said the price reduction is aimed at […]

BUSINESS

Dangote Refinery cuts petrol gantry price 16% to ₦699/litre

Daily Dispatch December 12, 2025

The Dangote Refinery has announced another sharp reduction in its petrol gantry price, cutting the rate by 15.58% from ₦828 to ₦699 per litre, effective December 11, 2025. The latest adjustment marks about the 20th price review this year, reinforcing the refinery’s aggressive pricing strategy as the festive travel season intensifies across Nigeria. According to […]

BUSINESS

Dangote refinery debunks claims linking pump price reduction to tariff suspension

Daily Dispatch November 17, 2025

Dangote Petroleum Refinery has dismissed widespread reports suggesting that the recent reduction in pump prices by oil marketers was triggered by the Federal Government’s alleged suspension of the 15 per cent import tariff on petroleum products. In a strongly worded statement, the company described the publications as “misleading” and “inconsistent with actual market

BUSINESS

Dangote Refinery to expand production from 650,000bpd to 1.4mbpd

Daily Dispatch October 26, 2025

The President of Dangote Industries Limited, Alhaji Aliko Dangote, on Sunday, announced plans to expand the production capacity of the Dangote Refinery in the Lekki Free Zone, Lagos, from 650,000 barrels per day (bpd) to 1.4 million barrels per day (mbpd). Speaking during a media briefing in Lagos, Dangote said the expansion, which had a […]