The Federal Government has approved the postponement of the planned 15 per cent import duty on petrol and diesel until the first quarter of 2026, clarifying that the suspension is not indefinite but a strategic deferment to ensure effective implementation. The approval, granted by President Bola Tinubu, followed a detailed memo submitted by the Executive…
President Bola Tinubu has approved the introduction of a 15 per cent ad-valorem import duty on petrol and diesel imports into Nigeria. The new tariff, which aims to protect local refineries and stabilise the downstream petroleum market, is expected to impact pump prices nationwide. In a letter dated October 21, 2025, and made public on…
The landing cost of imported Premium Motor Spirit (PMS), commonly known as petrol, has recorded a marginal decline, dropping from ₦849.61 to ₦839.97 per litre. According to figures released by the Major Energies Marketers Association of Nigeria (MEMAN), daily data from the association’s Competency Centre showed that the average landing cost was ₦849.61 on October…
The Dangote Petroleum Refinery has commenced large-scale exports of Premium Motor Spirit (PMS), having shipped approximately 1.35 billion litres of petrol to international markets over the past 50 days. This was revealed by the President of Dangote Group, Alhaji Aliko Dangote, at the Global Commodity Insights Conference on West African Refined Fuel Markets, organized by…
The Dangote Petroleum Refinery has announced plans to begin nationwide distribution of Premium Motor Spirit and diesel from August 15, 2025. The company is deploying 4,000 brand-new Compressed Natural Gas-powered tankers to boost delivery capacity and improve access to fuel across the country. The offer, according to a statement released on Sunday, is open to…
The Nigeria Customs Service (NCS) says its operatives of Operation Whirlwind have intensified its fight against fuel smuggling, leading to a major crackdown on smugglers of Premium Motor Spirit (PMS), commonly known as petrol, in Gembu and Kan-Iyaka border communities of Taraba State. Gembu, the administrative center of Sardauna Local Government Area (LGA), and Kan-Iyaka,…
The management of Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, from ₦890 to N825 per litre, effective from 27th February 2025. The slash in price by ₦65.00 was announced in a statement on Wednesday by the refinery. According to the statement, buyers…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has secured an agreement with Dangote Refinery to lift products directly. IPMAN National President, Abubakar Garima who announced this after a meeting of the National Working Committee of the Association said the partnership will ensure a steady, and affordable supply of PMS products nationwide. Girima said PMS, AGO,…
The corporation made this announcement on Thursday in Abuja and stated that market forces would decide product prices in a statement signed by Olufemi Soneye, Chief Corporate Communications Officer. This comes after the Dangote Refinery started refining petrol earlier in the week. Soneye cited Adedapo Segun, NNPCL’s Executive Vice President of Downstream, NNPC Ltd., as…
