The price of petrol is approaching ₦1,000 per litre in major Nigerian cities, prompting petroleum marketers to initiate plans for independent importation to stabilize the market.
Marketers have blamed the price surge on supply constraints and production issues at the Dangote Refinery, which led private depot owners to significantly increase their ex-depot prices. This has forced retailers, including the NNPC, to adjust pump prices upwards.
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed that members of the Depot and Petroleum Products Marketers Association (DAPPMAN) are finalizing arrangements to import petrol. He stated that increased competition from these imports is expected to drive prices down in the coming weeks.
Analysts warn that the soaring fuel cost threatens to trigger a fresh wave of price shocks across transportation, food, and manufacturing sectors.
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Will more defence funds make Nigeria safer
Nigeria has spent about 32.88 trillion naira on defence in the last 15 years, roughly 12.5 percent of total national budgets of 262.834 trillion naira in that period, yet insecurity remains widespread across the country . Despite these rising allocations, many communities still face insurgency, banditry, kidnapping, communal clashes and oil related violence, raising doubts about whether more money alone can make Nigerians safer . Security trackers estimate that over 100,000 people have been killed in violent incidents since 2012, with thousands abducted and about 3.726 million citizens displaced and living in roughly 3,900 camps nationwide . The trend has continued into 2026, with at least 1,091 deaths recorded from violent attacks in just the first 41 days of the year, underscoring the scale of Nigeria’s security crisis despite years of increased defence spending . Against this backdrop, the National […]
Witness details Malami wife hotel account transfers
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Zulum condemns deadly Maiduguri bomb explosions
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Tinubu and wife begin historic UK state visit
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EU rejects Trump request on Strait of Hormuz
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Actress Remi Surutu declares support for Tinubu’s 2027 re election bid
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Will more defence funds make Nigeria safer
Nigeria has spent about 32.88 trillion naira on defence in the last 15 years, roughly 12.5 percent of total national budgets of 262.834 trillion naira in that period, yet insecurity remains widespread across the country . Despite these rising allocations, many communities still face insurgency, banditry, kidnapping, communal clashes and oil related violence, raising doubts about whether more money alone can make Nigerians safer . Security trackers estimate that over 100,000 people have been killed in violent incidents since 2012, with thousands abducted and about 3.726 million citizens displaced and living in roughly 3,900 camps nationwide . The trend has continued into 2026, with at least 1,091 deaths recorded from violent attacks in just the first 41 days of the year, underscoring the scale of Nigeria’s security crisis despite years of increased defence spending . Against this backdrop, the National […]
Witness details Malami wife hotel account transfers
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Tinubu and wife begin historic UK state visit
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