The Federal Competition and Consumer Protection Commission (FCCPC) has raised concerns over the slow reduction in petrol prices across Nigeria despite the sharp decline in global crude oil prices, warning that operators found exploiting consumers could face regulatory sanctions. The commission said preliminary findings from its ongoing surveillance of the downstream petroleum market indicate that…
The Nigerian National Petroleum Company (NNPC) Limited has reduced petrol prices at its retail outlets to N1,130 per litre in Lagos and N1,165 per litre in Abuja. The new rates, effective Wednesday, mark a drop of N100 from Lagos’s previous price of N1,230 and N95 from Abuja’s N1,260. In Lagos, the adjustment was observed at…
The Dangote Petroleum Refinery has announced a fresh cut in the pump prices of Premium Motor Spirit (petrol) nationwide. Petrol prices have been revised downward, now ranging from ₦875 to ₦905 per litre depending on the region, according to a new pricing template released by the refinery. A regional breakdown of the new rates shows:…
Borno State Governor, Professor Babagana Umara Zulum, has ordered an immediate ban on the sale of Premium Motor Spirit in filling stations across Bama Local Government Area, including Bama town and Banki. The ban was issued after due consultations with security agencies in the state and is aimed at addressing the prevailing security challenges in…
