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Soldiers arrest 15 suspected oil thieves at Dangote Refinery

Troops of the Nigerian Army have arrested 15 suspected oil thieves around the Ibeju Lekki area of Lagos State.​ According to an operational report made available to the News Agency of Nigeria on Friday in Abuja, the suspects were arrested in the early hours of the day by troops of Headquarters 9 Brigade working with 65 Battalion. The operation followed credible intelligence on planned illegal activities in the area.​ The report explained that the suspects were intercepted while trying to illegally tap into a crude oil discharge point from a vessel supplying crude to the Dangote Refinery.​ It stated that the vessel was discharging crude oil meant for the production of Premium Motor Spirit and Automotive Gas Oil when the suspects were caught attempting to connect pipes to the discharge point.​ The troops arrested 15 people at the scene and […]

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Rising diesel costs cripple fishing as 80 percent of vessels stop work

Rising diesel prices have crippled Nigeria’s fishing industry, leaving more than 80 percent of trawler vessels grounded. A visit to the Ijora Fish Market in Lagos showed a sharp drop in fish supplied by Nigerian trawlers, leading to scarcity and higher prices for consumers. Retired Navy Captain Oladele Robinson, National Executive Secretary of the Fisheries Cooperatives Federation of Nigeria, said both artisanal and industrial operators are badly hit by the soaring cost of fuel. He explained that small scale fishers rely on petrol PMS to power their boats, while industrial trawlers depend entirely on diesel AGO. Many now go to sea and return without enough catch to cover fuel costs, making trips unsustainable. Robinson said this situation is driving up the prices of fish and other seafood across markets. Sources close to the Nigerian Trawlers Owners Association NITOA said diesel […]

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Independent marketers may sell Dangote petrol below N739

Some independent petroleum marketers partnering with Dangote Refinery may soon start selling petrol below N739 per litre as direct product deliveries begin.​The refinery has started virtual training for staff of its affiliate retail outlets and will follow up with free direct delivery of Premium Motor Spirit to their stations.​ Companies in the partnership include MRS, Ardova Petroleum, Garima, Heyden and Optimal, some of which had yet to sell at Dangote’s rate because they were awaiting direct supplies.​The Independent Petroleum Marketers Association of Nigeria National President, Abubakar Maigandi, said the margin between the N699 per litre gantry price and current pump prices makes reductions possible.​ He explained that independent marketers who receive free delivery from Dangote could sell for less than N739 per litre while still making profit in a competitive market.​He noted that the more than N25 per litre margin […]

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Petrol prices stay high despite Dangote slash

Many filling stations across Nigeria have yet to reduce their pump prices despite Dangote Refinery’s cut in ex depot price, which should see petrol sell at about N739 or N740 per litre. Checks by reporters showed that several outlets still sell far above this level, with prices in some places close to N900 per litre.​ In Lagos and its outskirts, many MRS filling stations were found selling at around N850 per litre, about N110 higher than the price Dangote Group’s president, Aliko Dangote, said the company’s retail outlets would charge. At Alagbole on the Lagos Ogun border, petrol sold for N850, while MRS stations on Ekoro Road and in Abule Egba sold between N825 and N870 per litre.​ Other marketers in the area also maintained higher prices, with Bovas in Ojodu selling at N820 per litre and an NNPC station […]

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Dangote, Depots Cut Petrol Gantry Price to N840

Dangote Petroleum Refinery and several major depot operators have reduced the average gantry price of Premium Motor Spirit to N840 per litre, from N843 per litre. The adjustment follows a drop in global crude prices, with Brent crude trading at about 62 dollars per barrel over the weekend, easing refining and supply costs.​ Market data show that Dangote Refinery, AIPEC and NIPCO have all pegged their depot selling price at N840 per litre. Some others are slightly higher, with Rainoil at N844, Sigmund and Master Energy at N858 and Northwest at N850 per litre.​ Meanwhile, eight OPEC plus countries, including Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman, met virtually on 30 November 2025 to review market conditions and the outlook for early 2026. They confirmed an earlier decision to pause planned production increases in January, February […]

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Nigerians Anxious as Depot Petrol Price Climbs to ₦889 per Litre

Nigerians are growing increasingly uneasy as the depot price of Premium Motor Spirit (PMS), popularly known as petrol, climbed to ₦889 per litre on Thursday, up from ₦887 the previous week. Data obtained by Vanguard showed Matrix sold at the highest price of ₦889 per litre, while Aiteo offered the lowest at ₦871 per litre. Other key operators such as Dangote Petroleum Refinery, Eterna, AA Rano, and AYM Ashafa sold at ₦877, ₦874, ₦871, and ₦885 per litre, respectively. The development comes as downstream operators warn that the pump price of petrol could exceed ₦1,000 per litre once the federal government’s newly approved 15% fuel tax takes effect after a 30-day transition period ending November 21, 2025. Speaking to Vanguard, Dr. Billy Gillis-Harry, National President of the Petroleum Retail Outlets Owners Association of Nigeria (PETROAN), said members would work with […]

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