Oil & Gas - Abia ThinkTank News

Jul

23

2026

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By Abia ThinkTank

Dangote Refinery Resumes Naira Sales, Sets New Petrol Price

Economy, News Flash, Oil & Gas

Dangote Refinery Resumes Naira Sales, Sets New Petrol Price Dangote Petroleum Refinery has resumed gantry loading in Naira, ditching its earlier decision to sell petrol in dollars. According to Naija News, the refinery also announced a new price for petrol, setting it at ₦1,215 per litre, an increase of ₦140 from the previous price of ₦1,075 per litre. It will be recalled that Dangote Petroleum Refinery had pegged the ex-depot price of Premium Motor Spirit (PMS), better known as petrol or fuel, at $0.779 per litre, officially commencing dollar-denominated sales of refined petroleum products and ending the naira pricing regime…

Jul

05

2026

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By Abia ThinkTank

NNPCL Reduces Petrol Price For Second Time In Less Than Two Weeks

Economy, News Flash, Oil & Gas

NNPCL Reduces Petrol Price For Second Time In Less Than Two Weeks The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price for the second time in less than two weeks. A market survey on Sunday showed that the state-owned filling station has adjusted its petrol price to N1,150 per litre down from N1,210. The latest reduction means that NNPCL brought down its fuel price by N60. Between June 27 and July 5, 2026, NNPCL has dropped fuel prices by N110. NNPCL’s latest petrol price reduction comes barely three days after Dangote Refinery announced its fourth…

Jul

03

2026

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Again, Dangote Refinery Reduces Price Of Petrol

News Flash, Oil & Gas

Again, Dangote Refinery Reduces Price Of Petrol AttNews reports that the management of Dangote Refinery has announced a fresh reduction in the price of petrol in Nigeria. The refinery reduced its ex-gantry petrol price by ₦50, bringing it down from ₦1,125 to ₦1,075 per litre. The reduction comes days after the federal government, through the Federal Competition and Consumer Protection Commission (FCCPC) expressed concerns about the current price of petrol in filling stations across Nigeria. The FCCPC, in a statement on Sunday, observed that marketers were quick to increase prices following the earlier spike in global crude oil prices. It…

Mar

27

2026

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By Abia ThinkTank

Relief As Dangote Refinery Slashes Petrol Gantry Price

Economy, News Flash, Oil & Gas

Relief As Dangote Refinery Slashes Petrol Gantry Price The Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for Premium Motor Spirit to N1,200 per litre, while pegging its coastal price at N1,153 per litre, a development expected to reshape fuel supply costs across Nigeria’s downstream distribution chain. According to the spokesperson for the Dangote Group, Anthony Chiejina, the price adjustment represents a downward review in the refinery’s pricing template and comes at a time of heightened uncertainty in the global oil market driven by geopolitical tensions in the Middle East. “Dangote Petroleum Refinery & Petrochemicals has reduced its…

Mar

11

2026

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By Abia ThinkTank

Relief As Dangote Refinery Slashes Petrol Price By N100

News Flash, Economy, Oil & Gas

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

07

2026

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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

11

2026

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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

11

2026

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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

17

2025

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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

17

2025

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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…