Business Archives - Page 5 of 47

Dangote Refinery Raises Petrol Price To N1,175/Litre As Crude Oil Surge Drives Costs

NewsDeskNgMar 14, 2026March 14, 20260

Dangote Refinery hikes petrol ex-depot price to N1,175 per litre after global crude surge raises refining costs. Dangote Refinery has again increased its ex-depot price of petrol to N1,175 per litre, reversing an earlier reduction of N100 announced earlier in the week, as a fresh surge in global crude oil...

OPEC: Nigeria’s Crude Oil Production Fell 10% To 1.31m bpd In February

NewsDeskNgMar 13, 2026March 13, 20260

Nigeria’s crude oil production declined by 10% to 1.31 million barrels per day in February, according to OPEC. Nigeria’s crude oil production fell to 1.31 million barrels per day (bpd) in February, according to the Organisation of Petroleum Exporting Countries (OPEC) data. But Nigerian National Petroleum Company Limited (NNPC) reduced...

Nigeria Records Lowest Petrol Imports As Dangote Refinery Dominates Supply

NewsDeskNgMar 12, 2026March 12, 20260

Nigeria’s petrol imports fell sharply in February as Dangote Refinery drove domestic supply, meeting about 92% of market demand. Nigeria recorded its lowest petrol import levels in February 2026 as domestic refining led largely by the Dangote Petroleum Refinery accounted for the overwhelming share of fuel supplied to the local...

NNPC Reduces Fuel Costs To N1,130/Litre In Lagos, N1,165/Litre In Abuja

NewsDeskNgMar 12, 2026March 12, 20260

NNPC has cut petrol prices to N1,130 per litre in Lagos and N1,165 per litre in Abuja The Nigerian National Petroleum Company (NNPC) Limited has announced a reduction in petrol prices at its retail outlets, bringing the cost down to N1,130 per litre in Lagos and N1,165 per litre in...

In Win For Dangote, Nigeria Suspends Petrol Import Permits

NewsDeskNgMar 11, 2026March 11, 20260

In win for Dangote, NMDPRA suspends new petrol import permits after Africa’s richest man’s refinery demonstrates capacity to meet Nigeria’s demand. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has suspended the issuance of new petrol import licences, citing improved local production that is currently meeting domestic supply needs....

Dangote Refinery Cuts Petrol Price To ₦1,075, Diesel To ₦1,430 Amid Falling Global Crude Prices

NewsDeskNgMar 10, 2026March 10, 20260

Dangote Refinery cuts petrol price to ₦1,075 per litre and diesel to ₦1,430, citing declining global crude prices. The Dangote Petroleum Refinery has announced a significant reduction in the prices of Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (diesel), with the new pricing taking immediate...

Dangote Refinery Pledges Abundant Fuel For Nigeria After Oil Prices Near $120/barrel

NewsDeskNgMar 9, 2026March 9, 20260

Dangote Refinery says it will maintain abundant fuel supply to Nigeria despite crude surging past $100/barrel for the first time since 2022. Managing Director of Dangote Refinery, David Bird, has assured Nigerians that the country will continue to enjoy steady fuel supply despite the sharp rise in global crude oil...

Dele Oye: National Single Window Could Unlock $3bn Logistics Investment, Save Nigeria $18m Annually

NewsDeskNgMar 9, 2026March 9, 20260

Alliance for Economic Research and Ethics warns domiciling trade platform under Nigeria Revenue Service risks undermining competitiveness and private sector confidence. Chairman, Alliance for Economic Research and Ethics (AERE), Hon. Dele Kelvin Oye, said the proposed customs National Single Window (NSW) could unlock about $3 billion in logistics investment and...

Fagbemi: OPL 245 Dispute Resolution Will Reposition Nigeria’s Economy

NewsDeskNgMar 8, 2026March 8, 20260

Attorney-General Fagbemi says settlement of OPL 245 dispute will boost investment, strengthen fiscal stability and Nigeria’s energy sector. Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, has said the resolution of the 15-year-old dispute over Oil Prospecting Licence (OPL) 245 will reposition Nigeria’s economy and strengthen the country’s...

Air Peace Expands West Africa Network, Launches New Regional Flight Schedules April 1

NewsDeskNgMar 8, 2026March 8, 20260

Air Peace expands regional operations with new West Africa routes linking Lagos, Dakar, Abidjan, Accra, Monrovia and Freetown. Air Peace has announced the expansion of its regional flight operations across West Africa, unveiling new schedules aimed at strengthening connectivity and improving travel options within the sub-region. The airline said the...