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Petrol Prices Soar Again

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Petrol prices soar again in Lagos and Abuja as NNPC raises rates. Dangote’s refinery hike sparks wider inflation fears across Nigeria

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Petrol prices soar again as the Nigerian National Petroleum Company Limited increases pump prices at its retail outlets in Lagos and Abuja, deepening concerns over affordability and economic stability.

Also read: Port Harcourt refinery petrol denial sparks PETROAN credibility crisis

On Monday, filling stations owned by NNPC in the Federal Capital Territory displayed a revised pump price of N945 per litre. In Lagos, the price rose to N915 per litre.

This upward revision reflects a fresh spike of N35 in Abuja and N45 in Lagos, compared to the previous figures of N910 and N870 per litre respectively.

The development follows last week’s decision by the Dangote Petroleum Refinery to increase its ex-depot price from N825 to N880 per litre. The move triggered widespread adjustments across the downstream market.

Our correspondent observed that several NNPC stations, including those in Kubwa and along Obasanjo Way in Abuja, had implemented the new pricing. In Lagos, stations in Igando and along the Badagry Expressway mirrored the updated figures. The increase was not restricted to government-owned outlets.

Private marketers, including MRS, TotalEnergies, and Oluwafemi Arowolo Petroleum, have all adjusted their pump prices upwards.

Rates now range between N910 and N925 per litre. Major depot hubs such as Wosbab, Pinnacle, and NIPCO have pegged their ex-depot prices around N920 to N925.

A key factor driving the surge is the rising global crude oil price.

We can only hope Dangote maintains its current price, or petrol may cross the N1,000 mark.

The ongoing conflict between the United States and Iran has disrupted market expectations, with many analysts warning that the $80 per barrel threshold may soon be breached.

The recent weekend airstrikes on Iranian nuclear sites by US and Israeli forces have added to fears of a prolonged crisis.

Independent marketers have cautioned that Nigerians could see petrol prices exceed N1,000 per litre unless immediate interventions are made. The naira’s instability and increased upstream costs are expected to aggravate the situation.

Olatide Jeremiah, CEO of PetroleumPrice.ng, warned, “Private depots are likely to increase petrol price to N1,000 in the coming days with the current trend observed in the market. If by tomorrow morning, crude price increases to $80 or exceeds that threshold, Nigerians would pay N1,000 at depots.”

He explained that the last surge in prices occurred because Dangote temporarily halted sales.

However, the refinery has resumed operations, offering petrol at N880 for volumes of two million litres.

According to Jeremiah, Dangote remains a stabilising force in the current pricing landscape.

Experts believe the consistent hikes in pump prices could further fuel inflation, burdening commuters, businesses, and households.

As the market remains deregulated but unstable, concerns mount over the ability of authorities to manage the ripple effects on the wider economy.

Also read: Inflation: Real reason Indomie reduced Prices of Popular Staple Food item Revealed

With no immediate relief in sight and international tensions intensifying, Nigerians brace for what may become the most expensive fuel era in the nation’s history.

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Governor Dauda Lawal woos investors, highlights Zamfara’s economic opportunities at CEO Forum

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Zamfara State Governor, Dauda Lawal, has called for stronger collaboration between government, businesses and investors to unlock private capital and drive inclusive economic growth in the state.

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Lawal made the call while delivering a Special Policy Address at the 2026 CEO Forum organised by the Global Compact Network Nigeria in Lagos.

The forum, held under the theme “Financing a Dignified Future: Aligning Business Action, Policy and Capital,” brought together chief executives, senior government officials, industry leaders, diplomats, trade commissioners and international development partners.

Participants were drawn from key sectors of the economy, including oil and gas, energy, manufacturing, construction and infrastructure.

The governor spoke on the growing competition among states for increasingly selective private capital and the factors that could transform an economic opportunity into an investable proposition.

He explained how his administration was working to bridge the gap between available economic opportunities and investment, with emphasis on building investor confidence while ensuring that investments deliver meaningful outcomes for the people of Zamfara.

According to him, attracting investment requires more than identifying economic opportunities, but also creating the conditions, policies and partnerships capable of giving investors confidence to commit capital.

The forum provided a platform for business leaders, government officials and investors to examine ways of aligning business strategies, public policies and capital deployment to unlock productive investment.

Discussions also focused on identifying businesses, sectors and projects with strong potential but facing difficulties in accessing financing, as well as measures to make such opportunities more attractive to investors.

The organisers also introduced the concept of the “Dignity Dividend,” examining how investment-led growth could translate into better jobs, stronger businesses, increased productivity, local value creation and broader economic participation.

Another key component of the forum was the identification of actionable commitments and partnerships that participating institutions could advance over the next six to 12 months.

Notable speakers at the event included chief executives of First Bank Group, Access Bank, Flour Mills of Nigeria Plc, Nigeria Economic Summit Group, Nigerian Exchange Group, Chellarams Plc, SecureID Group and Greenwich Merchant Bank Plc, among others.

The organisers said the session would culminate in a live showcase of the Business Value and Sustainability Platform (BVSP), described as a standing coalition of business, capital and policy actors designed to sustain the dialogue.

The platform is also expected to contribute to shaping Nigeria’s private-sector engagement during the United Nations General Assembly High-Level Week.

The governor’s participation in the forum comes as Zamfara seeks to strengthen its economic base, attract productive investment and create opportunities that can support sustainable livelihoods and wider participation in the state’s economy.

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Fuel subsidy debate: Between economic reform and political expediency

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Atiku petrol subsidy plans have reignited Nigeria’s 2027 debate as the ADC candidate promises relief while the Presidency demands clarity

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Lawal Strengthens Zamfara Judiciary With ₦600m Support

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The governor distributed official vehicles to judicial officers and said about 90 per cent of court rehabilitation projects across the state had been completed

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