Dangote refinery

Australia confronts petrol shortages driven by panic buying as Asian import reliance intensifies, while Nigerian diesel prices climb to N1,700 per litre following Dangote Refinery cost increases.

Nigeria's government has suspended petrol import licenses for the second consecutive month, enforcing provisions of the Petroleum Industry Act as Dangote Refinery now supplies nearly two-thirds of domestic demand.

Nigeria's daily petrol consumption dropped to 56.9 million litres in February from 60.2 million in January, as Dangote Refinery reduced gantry prices to N1,075/litre following crude's decline to $88/barrel.

Dangote Refinery supplied 40.1 million litres per day of petrol in February, representing 61.78% of Nigeria's consumption, as declining crude prices pushed the country's trade surplus to a two-year low in Q4 2025.

NNPC reports 5.81% production increase to 1.64mb/d in January despite revenue decline, while Dangote Refinery cites fees from 47 government agencies as major cost driver amid volatile global oil markets.

Brent crude surged above $100 per barrel following a drone strike on UAE's Ruwais refinery, while Nigeria's Dangote facility cuts domestic prices amid reduced import dependence.

President Tinubu orders immediate rollout of compressed natural gas conversion kits as petrol prices surge above N1,300 in major cities, while Dangote Refinery cuts gantry price by N100 amid falling crude rates.

NNPC obtains presidential approval for Bonga deepwater project while federal government suspends petrol import licenses, accelerating Nigeria's shift toward domestic production and ending 18-year deepwater investment drought.

Nigerian pump prices hit ₦1,300 per litre as Middle East conflict drives crude oil volatility, with Brent swinging from $120 to below $90 in 24 hours following US sanctions relief announcement.

Fuel prices across Nigeria have jumped sharply, with petrol reaching N1,300 per litre in some markets as Dangote Refinery raises ex-depot prices to N1,175 amid escalating global crude costs driven by Middle East geopolitical tensions.

Nigeria's Dangote Refinery has increased Premium Motor Spirit ex-depot prices to N1,175 per litre, marking the fourth adjustment and intensifying inflation concerns as transport and goods costs are expected to rise across Africa's largest economy.

Pump prices across Nigeria have surged past N1,000 per litre following Dangote refinery's gantry price increase to N995/litre, while NNPC engages international traders to secure crude feedstock for the 650,000 bpd facility.

WTI crude jumped 19.54% to $108.66 per barrel Monday as Middle East tensions escalated, while Nigerian petrol prices climbed to ₦1,150/litre amid supply concerns at Dangote refinery.

Nigeria's state oil company raised petrol prices to N960/litre while Dangote Refinery lifted diesel to N1,050/litre, as Middle East geopolitical tensions push global crude benchmarks higher and disrupt energy markets.

Nigeria's state oil company prepares March export of new crude grade targeting output gains, while petroleum workers union opposes presidential directive on revenue remittance amid sector restructuring.