Oil & Gas
PH refinery: Again, Nigerians knock FG over endless take-off announcement
On Thursday, August 8, the Independent Petroleum Marketers Association of Nigeria, IPMAN, announced to Nigerians that the Port Harcourt Refinery would become operational in four weeks’ time, perhaps to meet the government’s August deadline of producing petroleum products.
The association went further to say that the refinery would equally be supplying between 10 and 12 million litres of petrol to marketers.
The IPMAN’s National Operations Controller, Zarma Mustapha, who let the cat out of the bag in an interview on national television, said the refinery would boost the supply of petroleum products in the country to about 11 to 15 million liters daily, and help ensure energy availability across the board.
According to him, the refinery was set to operate independently and sell at the prevailing market price with little or no government interference.
“There is this understanding that the Port Harcourt Refinery is going to perform independently and sell at whatever prevailing market price for them to recover their cost.
“It is not going to be run like a government entity as it has been before. I believe that the refinery coming up will really boost the demand and supply of PMS to nothing less than 11 to 15 million litres daily.
“I am confident and optimistic that this August deadline is going to be a realistic deadline. It will come on stream and fully produce all the necessary components that the refinery is supposed to produce,” he said.
However, instead of receiving the news with enthusiasm, Nigerians were rather skeptical considering the fact that several of such promises had been made in the past without any of them coming to fruition.
A segment of the society described the development as a harvest of promises with unending deceptions.
Some are of the opinion that the latest promise which is about the fourth in the series could still go the way of the previous ones, even as others have volunteered to give the government the benefit of the doubt.
Recall that earlier, Nigerians were told that the refinery would start operations in December 2023.
The Minister of State for Petroleum, Heineken Lokpobiri, had sounded optimistic about the December 2023 deadline, but at the end of the day, nothing happened, and no apologies were offered.
On Thursday, March 13, 2024, Nigerians were again greeted with the news that the Port Harcourt Refinery would become operational in two weeks’ time.
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, assured Nigerians that the rehabilitated Port Harcourt Refinery would commence operations in two weeks. He made the revelation at an interactive session with the Senate.
He assured Nigerians that the delivery date of the Port Harcourt and other refineries remained sacrosanct.
According to the NNPCL spokesperson, Olufemi Soneye, in a statement, Kyari said: “We will make sure that promises that we made about the rehabilitation of these refineries are kept. We completed the mechanical completion of PHRC in December.
“Now, we have crude oil already stocked in it. It is currently undergoing regulatory compliance tests before we re-stream it. I assure you that this refinery will start in next two weeks
“For the Warri Refinery, we have also done mechanical work on it. It is undergoing regulatory compliance processes that we are doing with our regulators. Kaduna will be ready by December this year, but we have not reached that stage. We believe that it will also be ready on schedule.”
Kyari noted that the Port Harcourt refinery had received 450,000 barrels of crude for processing since the mechanical completion of the plant in December last year.
He called for the cooperation of all stakeholders in the rehabilitation process, saying, “We are all serving this country dutifully and loyally. Nigerians must understand that gradually, we shall get this task done.”
The statement added that the Senate Ad-hoc Committee was expected to visit the three refineries in Kaduna, Warri, and Port Harcourt soon for an on-the-spot assessment of work progress.
The two week’s ultimatum ended in April and the refinery did not even produce a litre of petrol. Most Nigerians were not surprised as they never even believed the statement when it was released.
Again, on Monday, May 20, the National Public Relations Officer, Independent Marketers Association of Nigeria, Chief Ukadike Chinedu, promised Nigerians that the 210,000-barrel-per-day Port-Harcourt Refinery would finally commence operations by the end of July after several postponements.
He stated that the development would stimulate economic activities, reduce the price of petroleum products and ensure adequate supply.
Again, July came and ended without the Refinery working. Nigerians, again, did not give a whimper because they never took the statement seriously in the first instance.
So, the latest news that the PH Refinery would be operational in four weeks’ time did not receive cheers from Nigerians.
To many Nigerians, it has become a festival of promises. In fact, it has become a cliché to hear that the refinery, whether Port Harcourt, Warri or Kaduna, would work. Since 2015, when the ruling All Progressives Congress, APC, wrested powers from the Peoples Democratic Party, PDP, which held sway for 16 years, there have been promises of a turnaround maintenance of the Port Harcourt Refinery and others and their eventual operation, but none has ever come to fruition. It has all been deceptions couched in political statements to hoodwink the Nigerian masses.
So, when the IPMAN’s National Operations Controller, Mustapha announced on Thursday that the PH Refinery would begin operations in four weeks’ time, as an indication of the government’s preparedness to actually end fuel importation, not many were excited, as most people expressed skepticism, considering the past promises.
There are various views about the development. While some dismissed the news outright as mere political talks, others said even though such promises never produced any positive outcome in the past, they were prepared to give the government the benefit of the doubt this time round.
Those who believe that nothing would come out of it and that it was just mere political talks said it was akin to a political campaign promise where politicians promise that they would build bridges even where there is no river.
However, those who want to give the government the benefit of the doubt are of the view that even a liar would have a day when he would decide to be honest. To them, the government might have decided to turn a new leaf and do the right thing this time.
One of the proponents of those pushing that Nigerians should give the government the benefit of the doubt this time round is the president of Arewa Youth Consultative Forum (AYCF), Alhaji Yerima Shettima.
He said although he would like to remain optimistic this time round, he cannot blame those who don’t believe the government’s promise considering the previous promises about the same refinery, which ended with no positive result
The problem with the promise is just that we have a government that speaks from both sides of the mouth and previous promises have come and gone without fulfillment. So, even if this one is genuine, a lot of people will have a lot of doubts in their minds.
“But, I hope this will not be the same story because you cannot continue to say one thing today, and then tomorrow, you say another thing.
“Doing that will always put you on the defensive because you always want to say something, giving people hope without anything on ground to fulfill such promises.”
He advised the government to be honest and sincere with Nigerians, warning that deliberately lying to the people always would only provoke them to anger, which is not good for the society.
“The more you lie to the people about the refinery, the more you provoke people to anger. So, I am of the view that this time round, the government should try to live up to their promise.
“I am not part of those who don’t believe that things will work because I am always optimistic and I strongly believe that there will be light at the end of the tunnel. So, all they need to do is to re-programme themselves to be more sincere and honest to Nigerians,” he said.
He noted that the situation was so critical that the government just has to do everything possible to make sure that the refinery and other things work in the country.
He also advised that the leaders should not continue to give excuses because they knew exactly what the situation was before they went into office.
“We are in a critical period where people must have to understand that things are not okay and the government must also do something because they knew the problem before they took over the mantle of leadership.
“And to that extent, ours is to support them, and let them be honest to Nigerians, so that all of us will be able to survive this trying period,” he submitted.
But for a journalist and public affairs analyst, Nze Ezeocha, there is nothing cheery about the latest promise.
He noted that last year, the Minister of State for Petroleum, Heineken Lokpobiri told Nigerians that it would become operational before Christmas.
“Christmas passed and we reminded them about their promise and they gave Nigerians a fresh date, which also never came to reality.
“Now, we are being fed with another promise about the same refinery. This is the fourth time that the NNPCL and the Ministry of Petroleum Resources are telling Nigerians that the PH Refinery would be operational in weeks. And at the end of the day, nothing would come out of it.
“So, as far as I am concerned, I think this latest promise will end up like the previous ones. We have seen the brickbat between the NNPCL and the Dangote Refinery.
“Dangote is still insisting that it has not got enough crude from the NNPCL. Nigerians would like to know the kind of agreement Dangote had with the NNPCL.
“Dangote also demanded that the NNPCL should be mandated to direct the IOCs to be selling their crude to him. Did he not make adequate arrangements on how he will be getting crude before setting up a refinery?
“So, the whole thing about this oil refining in Nigeria is shrouded in secrecy and deception and the earlier the government comes clean on that the better for everybody in this country.
The president of the Middle Belt Forum (MBF), Dr. Pogu Bitrus, equally agrees with Ezeocha.
He stated that nothing would come out of the promise. He believes that the Nigerian attitude has not changed, and would not want Nigerians to build any hope around the promise to avoid suffering unnecessary heart ache.
“We do propaganda with everything. We politicise everything. The President doesn’t have to tell us that the Port Harcourt Refinery is on course when it is not fully on course. Let this government start to do things differently.
“When things are not right, rather than getting political capital by telling lies to Nigerians, they should come out to tell Nigerians the true situation of things,” he said.
Continuing, he said: “There is no point in deceiving the populace. Let them tell the truth and they will better be appreciated, rather than thinking that by telling lies, they are playing politics. They are instead dishonouring themselves, and Nigerians will lose confidence in them very soon.”
Also speaking, a legal practitioner and public commentator, IK Onodi also did not believe that the refinery would become operational in two weeks time.
He said such promises had been made in the past and none came to fruition, and because of that he would not believe anybody until he has seen that the refinery has actually started refining.
According to him: “It is said that action speaks louder than words. We were told last year when the Dangote Refinery was commissioned that it would start producing by July last year.
“From July last year till now is about nine months, and no drop of crude oil has been refined by the Dangote Refinery.
“We have been told times without numbers that the Port Harcourt Refinery and other refineries would come on stream very soon.
“If I were the government, I will not announce anything until the refinery starts producing and when that happens, I will tell Nigerians that this is from the PH or Warri or Kaduna Refineries. I will not believe it until I see it.”
For an independent petroleum marketer, Chief Dipo Lanre, the refinery might not likely work in four weeks as promised.
He, however, noted that he would not totally dismiss it but expressed strong reservation about the feasibility of the promise considering the past promises which never yielded any positive result.
“I pray that this time, the promise will be fulfilled. It should not go the way of previous promises about the refinery.
“Remember that during Olusegun Obasanjo’s administration, the same Port Harcourt Refinery was sold to Mike Otedola and Aliko Dangote, but the money was later returned to them.
“And since that money was returned to Otedola and Dangote, the refinery has not returned to operation; it has been promises upon promises. It has become a cancer to the Nigeria society.
“I am tired of the politics of that refinery. Politicians have used it to play politics since the Obasanjo era. What is a refinery anyway?
“What is the big deal in building a refinery? Since 1999 when the democratic governance returned, we could have built more than four refineries if we are serious.
“For almost 25 years, we have been playing politics with the refinery. Let it not be another round of deception this time
Nigerian crude remained steady at $73 after a three-day decline, as concerns grew over Russian supply risks, further intensified by US President Donald Trump’s escalating threats to penalize India for purchasing crude from Moscow, as reported by Nairametrics.
Brent fell below $69 a barrel after losing over 6% in the past three sessions, while West Texas Intermediate hovered near $66 a barrel.
U.S President’s comments about “substantially raising” tariffs on exported Indian goods due to Russian oil imports were an attempt to pressure Moscow into complying with a ceasefire concerning the Ukraine conflict, which drew strong opposition from New Delhi.
The US president issued his most recent warning to India just before his deadline of August 8 for Russia to agree to a truce with Ukraine.
Tass stated that Steve Witkoff, the US Special Envoy, is scheduled to travel to Moscow on Wednesday. After Russia’s invasion of Ukraine in 2022, India became the largest purchaser of Russian seaborne crude exports, quickly increasing purchases from nearly zero to roughly one-third of imports while snatching up discounted barrels avoided by Western countries. China is a significant buyer of oil from Moscow as well.
India’s ongoing demand for oil keeps Nigerian barrels in high demand, highlighting the impact of global supply chain shifts and new consumption patterns.
Nigeria’s crude oil production increases
The narrowing delta between Brent and Nigerian crude is a sign of increased market competition. A statement released on Monday by Nigeria’s upstream regulator stated that the country’s oil production averaged 1.8 million barrels per day.
Nigeria relies on increased crude oil production to finance its economy; the black viscous hydrocarbon constitutes over 80% of foreign exchange earnings and nearly two-thirds of government revenue.
Gbenga Komolafe of the Nigerian Upstream Petroleum Regulatory Commission said the output rise is from enhanced security measures and is part of an effort to boost oil production from 1 million to 3 million barrels per day.
Nigeria aims to increase its oil output, with a medium-term target of reaching 2.06 million barrels per day by 2027, according to Bayo Ojulari, CEO of the Nigerian National Petroleum Company (NNPC) Limited. He expressed confidence that by December this year, output could reach 1.9 million barrels per day.
Nigeria achieved full operational capacity on its major crude oil pipelines in June, a milestone Ojulari said was the first in many years and signaled improved system reliability and infrastructure security.
OPEC+ members to increase crude oil output
OPEC+ members’ decision to boost crude output at the start of the next month stems from the ongoing recovery of the global economy and fundamental market factors. Data from the August 3 meeting, which involved Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman, showed they reaffirmed their commitment not to destabilize the market.
The phased responsive increase marks the fourth monthly hike in the 2.2 million bpd voluntary production cuts introduced in April and November 2023 in a bid to support prices during highly volatile market conditions.
OPEC explicitly supported the participants and quoted, “By the decision agreed upon on 5 December 2024 to start a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments starting from1 April 2025, the eight participating countries will implement a production adjustment of 547 thousand barrels per day in September 2025 from the August 2025 required production level.
” However, industry analysts are increasingly worried that this decision could put downward pressure on oil prices, which would negatively affect Nigeria’s oil revenues.
“Although there is a lot of discussion about tariffs on India, it is clear that there is a possibility that secondary tariffs will also be applied to other buyers,” said Patterson of ING. The more buyers are subject to these tariffs, the more difficult it is for the market to cope with the potential disruption.
If India’s purchases of Russian oil are interrupted, it might have to look for supplies elsewhere. Other OPEC+ countries, those in the Middle East, were able to make up for any potential shortfall, according to a recent note from Rystad Energy. The alliance agreed to start increasing production in September by about 547,000 barrels per day.
The Dangote Petroleum Refinery has once again reduced the depot price of Premium Motor Spirit (PMS), popularly known as petrol, from N838 to N820 per litre, as crude oil prices continue to decline and competition intensifies in Nigeria’s downstream market.
This latest price adjustment – an 18 naira drop – follows a broader trend in the domestic fuel market, triggered by a fall in global crude prices to $70 per barrel, down from over $77 in June 2025. The easing of geopolitical tensions, particularly the ceasefire in the Israel-Iran conflict, has contributed significantly to the dip in crude prices, thereby affecting refined product pricing globally.
Other key operators have also revised their depot prices, albeit marginally, in response to the shifting market dynamics. Data from PetrolPrice.com revealed that while Dangote made the most significant cut, other companies made smaller reductions:
Fatgbems: N837/litre (from N838), Integrated: N836/litre (from N837), Bovas: N836/litre (from N837), AIPEC: N837/litre (from N840) and First Royal: Maintained N838/litre.
In an interview with Vanguard, Olatide Jeremiah, CEO of PetrolPrice.ng, noted: “We are seeing a lot of dynamics in both global and domestic markets. With the ceasefire in the Israel-Iran conflict, crude oil prices have dropped to about $70 per barrel from over $77. Consequently, operators in the domestic market have adjusted accordingly. We look forward to more price changes in the coming weeks.”
This is not the first time Dangote Refinery has responded swiftly to international oil market shifts. In recent weeks, the refinery had cut the gantry price of petrol by 4.5%, bringing it down to N840 from N880 per litre, as oil prices slipped to $67.50 per barrel.
Nigeria’s fuel market has remained volatile in recent months, with petrol prices largely influenced by international crude trends due to the deregulation of the downstream sector. While Dangote’s refinery has played a stabilising role since it began domestic supply, volatility in crude benchmarks like Brent and Nigeria’s Bonny Light – which recently dropped from $80 to $68 per barrel – continues to impact product pricing.
The drop in depot prices may not immediately translate into a corresponding reduction at the pump for motorists due to other cost components like transportation, margins, and taxes. However, the move is expected to ease pressure on marketers and potentially curb further hikes in retail fuel prices, especially in the face of persistent inflation and currency instability.
With Dangote’s massive refining capacity and growing influence in Nigeria’s energy market, its pricing decisions are increasingly becoming benchmarks for others. The continued drop in depot prices could provide a cushion for consumers battling with high transportation and living costs.
Still, analysts warn that unless Nigeria’s forex volatility and logistics challenges are resolved, retail fuel prices will remain vulnerable to global oil market fluctuations. As more refined products hit the market from the Dangote Refinery and as international oil prices stabilise further, stakeholders are optimistic about a more predictable pricing regime in the coming months.
As the landing price undergoes a significant revision, Nigerians will face a new petrol pump price across the country.
Dangote Refinery has made a significant announcement regarding its pricing strategy by deciding to cease the sale of petroleum products in Nigerian naira.
As a major player in the oil and gas sector, this decision may have wider implications for the market, including fluctuations in fuel prices and impacts on consumers and businesses reliant on stable petroleum costs. Continue Reading.
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The price of importing premium motor spirit, commonly referred to as petrol, into Nigeria has risen to N885 per litre, an increase from the N797 per litre recorded just last week.
The Major Energy Marketers Association of Nigeria (MEMAN) confirmed this rise in its daily energy bulletin released on Wednesday. This marks an increase of N88 per litre within a week.
With this increase, petrol prices at filling stations may soon go beyond N1,000 per litre, up from the current range of N940 to N970 per litre.
Currently, the landing cost of petrol stands at N797 per litre, while Dangote Refinery’s ex-depot price is N815 per litre. This has resulted in retail prices at MRS filling stations in Lagos and Abuja ranging from N860 to N880 per litre.
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The Nigerian National Petroleum Company Limited has made a reduction to its ex-depot price of Premium Motor Spirit, commonly known as petrol, decreasing it from N1,020 to N899 per liter.
This decision, coming days after the Dangote Refinery reduced its price to N899, was confirmed by the Petroleum Products Retail Outlets Owners Association of Nigeria in a statement released on Saturday.
The statement signed by the association’s National Public Relations Officer, Dr Joseph Obele, and quoting a document released by NNPCL’s Commercial Department indicates a reduction based on the regional pricing scheme.
The price indicated that marketers would buy the product at N899 per litre, matching the price offered by the Dangote refinery a few days ago.
Marketers purchasing from Warri, Oghara, Port Harcourt and Calabar will, however, pay N970 per litre to offtake products.
The statement read, “The Nigerian National Petroleum Company Limited has taken a significant step in response to the competitive impact of deregulation in the downstream sector.
“The company recently reduced the ex-depot price of Premium Motor Spirit from N1,020 to N899 per litre.
“The price reduction by NNPCL is seen as a response to the competitive impact of deregulation, which has led to increased competition in the downstream sector.”
Obele noted that the price reduction by the national oil firm is seen as a response to the competitive impact of deregulation, which has led to increased competition in the downstream sector.
He also expressed optimism that PMS prices will drop further before the end of January 2025, given the global decline in crude oil prices and the naira’s recent gain against the dollar.
Obele described the trend as a price war while he emphasized that the price reduction by Dangote Refinery and NNPCL demonstrates the benefits of competition and advocates for the immediate privatization of government-owned refineries.
The move is expected to spark a price war among oil marketers, ultimately benefiting consumers.
However, the NNPCL spokesperson, Femi Soneye, is yet to confirm this development.
Reacting to this development, the National President of PETROAN, Billy Harry, said the price reduction is a welcome development that will bring relief to motorists and Nigerians during the holiday season.
He said, “The reduction in PMS price by NNPCL is a demonstration of the company’s commitment to making petroleum products more affordable for Nigerians.
“We commend NNPCL for responding to our call for affordable PMS prices.”
He also listed the benefits of the price reduction to consumers, including “Reduced transportation costs: With lower PMS prices, motorists will spend less on fuel, leading to increased disposable income.
“Increased economic activity: Lower fuel prices will stimulate economic growth by reducing production costs and increasing demand for goods and services.
“Improved standard of living: The price reduction will lead to a decrease in the cost of living, enabling Nigerians to afford necessities and enjoy a better quality of life.”
Harry also commended Dangote Refinery for its earlier price reduction, which he said had helped to stimulate competition in the downstream sector.
The PETROAN national official also hinted at a report submitted by PETROAN’s technical pricing team, warning that competitive pricing can lead to compromised product quality.
He further urged the Nigerian Midstream and Downstream Petroleum Regulatory Authority to ensure compliance with quality assurance standards.
“PETROAN is calling on the Nigerian Midstream and Downstream Petroleum Regulatory Authority to ensure compliance with quality assurance standards which may arise due to competitive pricing,” he added.
Heineken Lokpobiri, minister of state for petroleum resources (oil), says Nigeria will conform with the production quota set by the Organisation of Petroleum Exporting Countries (OPEC).
On June 2, OPEC extended Nigeria’s production quota of 1.5 million barrels of crude per day (bpd) to 2025.
OPEC said Nigeria should maintain the production level till December 31, 2025.
The oil cartel increased Nigeria’s production level to 1.5 million bpd for 2024 at its ministerial meeting on November 30, 2023.
However, Nigeria has been producing below the quota.
Speaking after OPEC’s 56th joint ministerial monitoring committee (JMMC) on October 2, the minister said Nigeria remains fully committed to the objectives of the body’s declaration of cooperation (DoC).
“Nigeria remains fully committed to the objectives of the DoC, and I can confidently confirm that our country is in conformity with the agreed production limits,” he said.
“While we continue to ramp up production in line with our national interests, we are doing so within the framework of OPEC’s guidelines, as we remain committed to balancing responsible production with our economic goals, and continue to meet our obligations under the DoC.”
OPEC RETAINS PRODUCTION OUTPUT POLICY
At the meeting, the oil cartel and its allies, known as OPEC+, retained its oil output policy, including a plan to start raising output in December.
According to a statement by OPEC, the group reviewed the crude oil production data for the months of July and August 2024 as well as current market conditions.
“During the meeting, the Republic of Iraq, the Republic of Kazakhstan, and the Russian Federation confirmed that they had achieved full conformity and compensation according to the schedules submitted for September,” the oil cartel said.
OPEC said the three countries reiterated their resolve to maintain full conformity and compensation throughout the remaining period of the agreement.
Final estimates of September’s crude oil production levels, according to the oil cartel, would be based on authorised secondary sources that would be accessible by the second week of October.
The oil alliance added that it will provide production figures for the nations that are part of the declaration of cooperation (DoC).
“The committee noted the three separate technical workshops between representatives from the Republic of Iraq, the Republic of Kazakhstan, and the Russian Federation and the secondary sources,” OPEC said.
“The meeting was aimed at discussing September production details and submitting their revised compensation plans that include the August overproduction as per the submitted plans to the OPEC Secretariat while also emphasising the need for some members to make further cuts to compensate for overproduction.
“The JMMC emphasised the critical importance of achieving full conformity and compensation. It will continue to monitor adherence to the production adjustments agreed upon at the 37th OPEC and non-OPEC Ministerial Meeting (ONOMM) held on 2 June 2024.
“The Committee will also continue to monitor the additional voluntary production adjustments announced by some participating OPEC and non OPEC countries as agreed upon in the 52nd JMMC held on 1 February 2024.”
Furthermore, according to OPEC, the committee would continuously assess market conditions.
OPEC said the next meeting of the JMMC is scheduled for December 1, 2024.
Petroleum marketers have raised an alarm that the Nigerian National Petroleum Company Limited, NNPCL, portal used for the purchase of Premium Motor Spirit (Petrol) has been shut down against dealers, making it impossible to apply for the commodity.
The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike disclosed this in a statement on Wednesday.
According to him, marketers have more than 2,000 pending tickets for the purchasing of 45,000 liters of petrol.
He hinted that the situation may lead to another round of fuel scarcity nationwide.
“I can’t confirm the price now because the portal is still shut down.
“We have more than 2,000 tickets for 45,000 liters (of petrol). That is 45,000 multiplied by 2,000, you can now know the number of million liters it will be. This is just an estimate, you know I don’t work with NNPCL and I don’t know what is on their system,” Ukadike stated.
He added that a 45,000-litre truckload of PMS is around N39.5 million, making N79 billion when multiplied by 2,000.
Reacting to the development, the spokesperson of NNPCL, Olufemi Soneye admitted that the state-owned firm has a significant backlog to address.
He said that the portal closure was intended to prevent the company from holding marketers’ funds for an extended period.
Soneye assured that the portal would soon be reopened; however, he failed to state the date when it would happen.
“We have a significant backlog to address. The closure is intended to prevent us from holding marketers’ funds for an extended period,” Soneye had explained.
“It will be reopened once the backlog has been sufficiently reduced. We are working to address it as soon as possible,” he stated.
The development comes as Nigerians struggle with high energy costs.
Recall that NNPCL in September 2024 announced a fresh price increase for petrol nationwide after lifting the product from Dangote Refinery.
Nigerians currently buy petrol between N950 and N1,100 per liter nationwide.
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