Oil & Gas - Abia ThinkTank News

Mar

2026

Relief As Dangote Refinery Slashes Petrol Price By N100

Relief As Dangote Refinery Slashes Petrol Price By N100 The Dangote Refinery has reduced its ex-gantry price of petrol by ₦100 per litre, offering a slight relief to fuel marketers and motorists after recent increases triggered by volatility in global oil prices. According to the refinery’s latest pricing template released on Tuesday, petrol will now sell at ₦1,075 per litre, down from the previous rate of ₦1,175. The facility also announced that petrol supplied through coastal distribution channels will cost ₦1,050 per litre. The company also adjusted its diesel price downward, cutting it to ₦1,430 per litre. This represents a…

Mar

2026

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By Abia ThinkTank

Dangote Refinery Hikes Petrol Price To N995

Economy, News Flash, Oil & Gas

Dangote Refinery Hikes Petrol Price To N995 The Dangote Petroleum Refinery has increased its Premium Motor Spirit gantry price to N995 per litre, marking a sharp N221 rise within four days, amid volatility in global crude oil prices and shipping costs. A senior official of the refinery confirmed the development to PUNCH Online on Friday, explaining that the latest price adjustment followed recent shifts in global oil market fundamentals. “Yes, the price has been reviewed. The new gantry price is now N995 per litre,” the official said. The new price represents an increase from N874 per litre, which itself was…

Feb

2026

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By Abia ThinkTank

Port Harcourt Refinery Ready To Resume Operations- PENGASSAN

Business, Economy, News Flash, Oil & Gas

Port Harcourt Refinery Ready To Resume Operations — PENGASSAN The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has said the old Port Harcourt Refinery has been rehabilitated to about 90 per cent and could resume operations within one week if the Nigerian National Petroleum Company Limited (NNPC Ltd) approves its restart. The PENGASSAN President, Mr Festus Osifo, disclosed this on Tuesday while speaking on Channels Television’s The Morning Brief. His remarks come amid renewed debate over the future of Nigeria’s state-owned refineries, following comments by NNPC Ltd’s Group Chief Executive Officer, Bayo Ojulari, who described the reopening…

Feb

2026

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By Abia ThinkTank

Dangote Refinery Slashes Petrol Price To N774 Per Litre

Business, News Flash, Oil & Gas

Dangote Refinery Slashes Petrol Price To N774 Per Litre Dangote Petroleum Refinery has reduced its Premium Motor Spirit gantry price by N25 per litre, lowering its ex-depot rate from N799 to N774 per litre in what industry analysts describe as a strategic price recalibration amid evolving market dynamics in 2026. The refinery communicated the price adjustment to marketers on Tuesday, noting that the new rate takes immediate effect. In a notice issued by its Group Commercial Operations Department, Dangote Petroleum Refinery and Petrochemicals FZE stated, “This is to notify you of a change in our PMS gantry price from N799…

Dec

2025

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By Abia ThinkTank

NMDPRA Boss, Farouk Ahmed, NUPRC Chief, Komolafe Resigns Amid Face-Off With Dangote

Economy, News Flash, Oil & Gas

NMDPRA Boss, Farouk Ahmed, NUPRC Chief, Komolafe Resign Amid Face-off With Dangote Farouk Ahmed has resigned as Chief Executive of the NMDPRA. Also, Gbenga Komolafe has stepped down from his position as Chief Executive of the NUPRC. Both officials were appointed in 2021 by former President Muhammadu Buhari after the enactment of the Petroleum Industry Act. The development was disclosed in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga. STATE PRESS RELEASEEngineers Farouk Ahmed, Gbenga Komolafe resign, President Tinubu nominates successors to the Senate for approval. President Bola Ahmed Tinubu has asked the Senate…

Dec

2025

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By Abia ThinkTank

NMDPRA Boss, Farouk Ahmed, Finally Responds To Dangote’s Allegation

Columns/Opinions/Letters, Human Rights, News Flash, Oil & Gas

NMDPRA Boss, Farouk Ahmed, Finally Responds To Dangote’s Allegation The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, has responded to recent claims regarding the financing of his children’s education and his integrity in office, insisting that the allegations are misleading and ill-timed. In a detailed statement, Ahmed said the allegations “necessitated this response, not because I fear scrutiny of my finances, which I welcome, but because the timing and nature of these claims demand context that only three decades of public service can provide.” Ahmed highlighted his career in Nigeria’s petroleum…

Dec

2025

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By Abia ThinkTank

Filling Stations To Sell Petrol At N739 From Tuesday – Dangote

News Flash, Economy, Oil & Gas

Filling Stations To Sale Petrol At N739 From Tuesday – Dangote Barring any last-minute change, MRS and other partners of the Dangote Petroleum Refinery are set to begin selling petrol at N739 per litre. This comes two days after the refinery slashed its petrol gantry price from N828 to N699 per litre. Speaking at a press briefing at the Lekki refinery on Sunday, the President of the Dangote Group, Alhaji Aliko Dangote, said he was aware that despite lower gantry prices, some filling stations often choose to keep pump prices high, thereby sabotaging his efforts. According to him, MRS would…

Dec

2025

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By Abia ThinkTank

Petrol Price War Turns Dirty As Dangote Attacks NMDPRA Boss

News Flash, Oil & Gas

Petrol Price War Turns Dirty As Dangote Attacks NMDPRA Boss The President of the Dangote Group, Alhaji Aliko Dangote, on Sunday alleged that the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, paid about $5m for the secondary school education of his four children in Switzerland, calling for a full investigation and public explanation. Dangote said Ahmed must appear before the Code of Conduct Tribunal to explain to Nigerians how he was allegedly able to raise $5m for his children’s school fees, accusing him of economic sabotage. Our correspondent reports that the NMDPRA dismissed a…

Nov

2025

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By Abia ThinkTank

Dangote Refinery Slashes Ex-Depot Petrol Price

Economy, News Flash, Oil & Gas

Dangote Refinery Slashes Ex-depot Petrol Price The Dangote Petroleum Refinery has slashed its ex-gantry petrol price to N828 per litre. According to sources at the refinery, the price of the product was reduced by N49 from the prior price of N877 per litre. “The refinery reduced its petrol price to N828 per litre,” a source said. The development comes amid plans by the refinery to increase its output to 1.4 million barrels per day (bpd), a scale that would surpass the world’s largest 1.36 million bpd refinery in Jamnagar, India. On November 1, the Dangote refinery said the supply of…

Oct

2025

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By Abia ThinkTank

Tinubu Approves 15% Import Duty On Petrol, Diesel

FGN, News Flash, Oil & Gas

Tinubu Approves 15% Import Duty On Petrol, Diesel President Bola Tinubu has approved a 15 percent ad-valorem import duty on diesel and premium motor spirit (PMS), commonly known as petrol. The approval was contained in a letter dated October 21, 2025, where Damilotun Aderemi, the Private Secretary to the President, conveyed the directive to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). According to the letter, the decision followed a request by the FIRS seeking the president’s consent to apply a 15 percent duty on the cost, insurance, and freight (CIF) value…