The Federal Government’s announcement that the Nigerian National Petroleum Company (NNPC) Retail will temporarily forgo its petrol retail profit margin and sell fuel at cost has reopened one of Nigeria’s most contentious economic and political debates: Is petrol subsidy gradually returning? The government has been categorical that it is...
petrol
Nigerian National Petroleum Company (NNPC) Limited has announced that its N66 per litre petrol discount will continue until October 31, stressing that the initiative is a temporary relief measure and not a return to the fuel subsidy regime. The company said the extension is part of efforts to support...
Nigerians have raised questions about the economic benefits of NNPC Retail’s 30-day petrol price discount, expressing concerns over whether the intervention will translate into lower transportation costs and meaningful relief for households already struggling with high living expenses. The concerns come amid a debate over whether the Nigerian National...
The Presidency has dismissed claims linking recent fuel price reductions to the return of subsidy, insisting that a margin discount by fuel marketers is different from a government-funded subsidy. In a statement shared by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the Presidency urged...
Nigerian National Petroleum Company (NNPC) Limited will forgo its petrol retail profit margin for 30 days and sell fuel at cost as the Federal Government introduces fresh measures to ease the impact of rising petrol prices on Nigerian households. The decision, backed by President Bola Ahmed Tinubu, is aimed...
Nigeria Democratic Congress (NDC) has rejected the Federal Government’s 30-day petrol discount, describing the measure as inadequate relief for Nigerians facing rising living costs. The party’s National Publicity Secretary, Osa Director, stated this in a statement issued on Thursday. Director was reacting to the announcement by the Federal Government...
The presidential candidate of the Peoples Redemption Party (PRP), Donald Duke, has promised to reduce the pump price of petrol to about ₦300 per litre if he wins the 2027 presidential election. The former Cross River State governor made the promise on Wednesday during an interview on Channels Television’s...
Former Vice President and presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has unveiled plans to introduce a new fuel subsidy system aimed at reducing the cost of petrol and easing economic pressure on Nigerian families. Atiku said the proposed subsidy would not return Nigeria to the...
Former Vice President Atiku Abubakar’s Media Adviser, Paul Ibe, has criticised the Federal Government’s comparison of petrol prices in Nigeria and the United States, arguing that the figures do not reflect the economic realities facing ordinary Nigerians. Ibe, in a statement shared on Wednesday, said comparing the pump price...
President Bola Ahmed Tinubu has assured Nigerians that transportation costs will begin to reduce more significantly from October 1 as the Federal Government intensifies the implementation of the National Affordable Compressed Natural Gas (CNG) Transit Programme. The President said the initiative is already delivering lower transport fares in several...
The Dangote Petroleum Refinery has sold out its jet fuel supply to European markets for August and September, with the remaining stock reserved for Nigeria. Chairman of Dangote Petroleum and Petrochemical Limited, Aliko Dangote, disclosed this on Monday September 14 during the formal launch of the refinery’s initial public...
The African Democratic Congress, ADC, has warned President Bola Ahmed Tinubu that his government’s economic policy is pushing Nigerians “dangerously close to the limits of human endurance.” In a statement signed by Mallam Bolaji Abdullahi, the ADC National Publicity Secretary, the party said that with petrol now selling for...
NNPC Retail has commissioned its first technology-powered self-service smart station along Bill Clinton Drive, Airport Road, Abuja, marking a key milestone in the evolution of the Company’s retail operations. Speaking at the commissioning, Executive Vice President, Downstream, NNPC Ltd., Dr. Mumuni Dagazau, described the facility as a reflection of NNPC...
Campaigns for the 2027 general elections are off to a predictably shameful start. Those who expected novelty are in shock. Others who expected depth of insight may yet embrace disappointment. The lead contestants for the office of president are already sounding like cracked vinyl records in an annoying echo...
Former Senator Ben Murray-Bruce has opposed calls for the return of Nigeria’s fuel subsidy, insisting that the policy failed the country for decades and should not be revived. Reacting to recent comments by former Vice President Atiku Abubakar, Murray-Bruce argued that restoring the subsidy would only revive corruption and...
Presidency has strongly criticised former Vice President Atiku Abubakar’s proposal to restore petrol subsidy if elected president, describing the plan as economically unsustainable, legally complicated and driven by political desperation rather than sound fiscal policy. In a statement issued on Thursday by the Special Adviser to the President on...
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is consulting widely with stakeholders in the industry on the idea of a domestic crude oil and gas swap that would reduce cost and increase availability of products in the country. The Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan, said this during a...
Nigeria could have spent as much as N53 trillion on petrol subsidies and seen the naira depreciate to about N3,500 to the dollar if the Federal Government had not removed the subsidy regime and unified the foreign exchange market, the Executive Chairman of the Nigeria Revenue Service (NRS), Dr...
Dangote Petroleum Refinery has announced a reduction in the price of aviation fuel, popularly known as Jet A1, from ₦1,750 to ₦1,650 per litre in a move aimed at easing financial pressure on airline operators across Nigeria. The company disclosed this in a statement issued by its media team...
NNPC Limited’s Chief Financial Officer (CFO), Adedapo Segun, has headlined a panel session at the Society of Petroleum Engineers (SPE) 2026 Oloibiri Lecture and Energy Forum (OLEF) held in Abuja, Nigeria, themed “Capital Allocation beyond Brownfield vs. Greenfield: Data-driven investment decisions.” In his remarks, Segun, who was represented by...