NNPCL May Sell Nigeria’s Refineries After Strategic Review — CEO
The Nigerian National Petroleum Company Limited (NNPCL) has hinted at the possible sale of Nigeria’s state-owned refineries, pending the outcome of a comprehensive strategic review expected to be completed before the end of 2025. Speaking to Bloomberg on the sidelines of the 9th OPEC International Seminar in Vienna, Austria, NNPCL Group CEO, Bayo Ojulari, said the company is reassessing its refinery rehabilitation approach due to persistent […]
Dangote Refinery Cuts Petrol Price to ₦820, Deepens Market Disruption
The Dangote Petroleum Refinery has announced a further reduction in the ex-depot price of petrol, dropping it from ₦840 to ₦820 per litre, effective July 8, 2025. This comes just one week after a previous cut from ₦880 to ₦840 on June 30. Confirming the latest development, Tony Chiejina, spokesperson for the refinery, said the new pricing applies to all marketers with distribution agreements with the […]
Japan Demands Auto Tariff Relief in Talks as Trump Tariff Deadline Looms
Japan’s chief trade negotiator, Ryosei Akazawa, has reaffirmed that any trade agreement with the United States must include relief from steep tariffs on Japanese automobiles, following President Donald Trump’s announcement of a 25% import duty on Japanese goods set to take effect August 1. Speaking at a press briefing Tuesday, Akazawa said he held a […]
U.S.-EU Trade on Edge as Trump Weighs Tariff Hike Amid Tensions
The European Union—America’s largest trading partner—is bracing for a critical decision Monday, as President Donald Trump is expected to announce whether he will impose sweeping tariffs on EU goods. Economists warn that such a move could ignite a transatlantic trade conflict, driving up prices for consumers and straining corporate supply chains on both continents. Trump […]
Azoria Delays Tesla ETF Launch Amid Concerns Over Elon Musk’s Political Agenda
Investment firm Azoria Partners has abruptly postponed the launch of its highly anticipated Tesla-focused exchange-traded fund (ETF), just days ahead of its debut, citing growing concerns over Tesla CEO Elon Musk’s foray into U.S. politics. The ETF—named the Azoria Tesla Convexity ETF—was designed to invest in Tesla stock and related derivatives. Its launch was scheduled […]
Dangote Refinery to Cut Fuel Costs by ₦1.7trn Yearly with Direct Distribution Plan
The Dangote Petroleum Refinery has unveiled a nationwide direct fuel distribution initiative set to commence on August 15, projecting savings of over ₦1.7 trillion annually by eliminating traditional fuel transportation costs. In a statement on Sunday, the refinery disclosed that the Dangote Group has already invested more than ₦720 billion in acquiring 4,000 compressed natural gas (CNG)-powered trucks to distribute petrol and diesel directly to filling stations […]
Oil Prices Plunge 6% After Israel-Iran Ceasefire Brokered by Trump, Offering Relief and Risks for Nigeria
Global oil prices dropped sharply on Tuesday following the announcement of a ceasefire between Israel and Iran, brokered by U.S. President Donald Trump after nearly two weeks of escalating conflict. Brent crude, the international benchmark, fell by as much as 6%, dipping to $67.29 per barrel from nearly $80 just days earlier. Despite the ceasefire […]
Air Peace Secures Heathrow Slot After Diplomatic Push, Set to Expand UK Operations
After months of intense diplomatic efforts, Nigeria’s flagship carrier, Air Peace, has secured a coveted landing slot at London Heathrow Airport, marking a major breakthrough in bilateral air service relations between Nigeria and the United Kingdom. Festus Keyamo, Nigeria’s Minister of Aviation and Aerospace Development, confirmed the development on Saturday via a post on his official X (formerly […]
Fuel Supply at Risk as NARTO Halts Loading at Dangote Refinery
The National Association of Road Transport Owners (NARTO) has directed its members to suspend all tanker programming for loading petroleum products at the Dangote Refinery, effective Monday, June 16, 2025. The directive, issued through an internal memo signed by NARTO President, Alhaji Yusuf Lawal Othman, follows a breakdown in negotiations with the Lagos State Government […]
Dangote Refinery to Begin Free Nationwide Fuel Delivery from August 15
The Dangote Petroleum Refinery has unveiled a nationwide fuel distribution initiative set to commence on August 15, 2025, aimed at stabilising the supply and reducing the cost of Premium Motor Spirit (PMS) and diesel across Nigeria. In a statement issued on Sunday, the refinery announced the deployment of 4,000 new CNG-powered tankers to deliver petroleum products free of […]
