The Dangote Petroleum Refinery, Africa’s first privately-owned oil refinery, has announced a reduction in the price of its Premium Motor Spirit (PMS), popularly known as petrol, to N899.50 per litre. The price cut is intended to ease transport costs for Nigerians during the Christmas and New Year celebrations. This development was disclosed in a statement issued on Thursday by the Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina. Mr Chiejina explained that...

The Independent Petroleum Marketers Association of Nigeria, IPMAN, has assured that the ongoing fuel scarcity across the country will soon end. The association’s publicity secretary, Ukadike Chinedu, disclosed to journalists that disruptions in the supply chain were responsible for the shortage, but he assured that fuel would become available in the coming weeks. “The supply chain is dependent on the importation of petroleum products, but now the federal government has decided that they will not...

“Nigeria’s motorists can buy petrol at N1,000 per litre or equivalent gas per Standard Cubic Meter at N200..” President Bola Ahmed Tinubu has disclosed that Nigerian motorists can now purchase petrol at N1,000 per litre. However, he added that the equivalent of a litre of petrol—measured as one Standard Cubic Meter of Compressed Natural Gas, CNG—is available at N200. Tinubu made this statement during a meeting with executives of the Nigerian Independent Petroleum Company, NIPCO,...