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SMEDAN laments low MSME participation in govt support funds

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Petrol price hit ₦1,288.54/litre in March — NBS

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Tag: petrol price

Oil and Gas

Petrol price hit ₦1,288.54/litre in March — NBS

The National Bureau of Statistics says the average retail price of a litre of petrol witnessed an increase from N1,051.47 in February to N1,288.54 in March. The NBS said this in its Premium Motor Spirit (Petrol) Price Watch for March, released in Abuja on Tuesday. It said that the March price of N1,288.54 represented a […]

featured Oil and Gas

Dangote slashes petrol price to ₦1,200/litre amid global oil crash

The Dangote Petroleum Refinery & Petrochemicals has slashed the ex-gantry price of Premium Motor Spirit (petrol) to N1,200 per litre, reversing its earlier increase amid a sharp drop in global crude oil prices triggered by geopolitical developments. The latest adjustment represents a N75 reduction from the previous price of about N1,275 per litre, which the […]

featured Oil and Gas

US-Iran war: Dangote Refinery’s petrol price hits ₦1,275, diesel ₦1,950

Amid rising geopolitical tensions in the Middle East and their ripple effects on global energy markets, the Dangote Petroleum Refinery has increased the gantry price of petrol and diesel, further tightening pressure on consumers and businesses across Nigeria. A top official at the refinery, who confirmed the development to our correspondent on Tuesday night, said […]

Transportation

FCT residents groan as petrol price hits over ₦1,300/litre

Motorists and residents in the Federal Capital Territory are facing mounting hardship due to the persistent rise in the pump price of Premium Motor Spirit (petrol), triggering higher transportation costs and driving up the cost of living. The News Agency of Nigeria reported that many fuel stations previously sold petrol between N875 and N880 per […]

Cocoa hits largest weekly gain in 24 years at $6,470 as Nigeria's supply drops
Business

High fuel costs disallow cocoa processors amid price slump

Nigeria’s cocoa processors are struggling to benefit from the recent cocoa price collapse, with the industry failing to capitalise on cheaper raw materials after prices plunged 83 per cent from 2024 peaks. The price drop, which has seen cocoa trade around N2.5 million per metric ton from a 2024 peak of N15 million, ought to […]

featured Food

Fuel price surge hikes food costs in Lagos markets — Report

Food prices across major Lagos markets surged in March 2026 as rising petrol costs drove up transportation and logistics expenses, triggering widespread increases in staple commodities. This is according to a Nairametrics Research physical market survey tracking 68 food items across Mushin, Daleko, Mile 12, and Oyingbo markets. The data shows a sharp reversal from […]

featured Oil and Gas

Dangote Refinery raises petrol price to ₦1,245/itre

Dangote Petroleum Refinery has announced a fresh increase in the price of Premium Motor Spirit, also known as petrol. The refinery cited escalating global geopolitical tensions and rising crude oil costs as the driving factors. In a notice sent to petroleum marketers late Friday, the refinery revealed that its ex-depot (gantry) price would rise from […]

Lekki Deep Seaport berths largest container ship on Nigerian waters
Oil and Gas

129,000MT petrol vessels arrive Lagos amid surging fuel prices

As Nigerians contend with rising petrol prices, vessels carrying 129,000 metric tonnes of Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel) are expected to dock at Lagos Ports between March 14 and 17, 2026. This came as officials of the Nigerian Midstream and Downstream Petroleum Regulatory Authority explained why some importers were still importing […]

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