Petrol

The Nigeria Labour Congress (NLC) has rattled the Federal Government over what it described as a worsening survival crisis in the country, demanding an immediate reduction in petrol prices, a nationwide wage award and the commencement of negotiations for a new national minimum wage.

Former Vice-President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has proposed a targeted production subsidy for petroleum products refined in Nigeria, saying the measure would reduce pump prices.

Nigeria’s latest petrol price increase has not eliminated one of the strongest incentives for cross-border fuel diversion: a substantial price gap between Nigeria and neighbouring countries.

Oil marketers said some financial institutions are partnering with vehicle owners and prospective CNG users to finance cylinder installations, reducing the upfront cost of switching from petrol.

Latest data on Nigeria’s midstream and downstream petroleum operations showed that domestic Premium Motor Spirit (PMS) supply declined by 21 percent in July, while petrol imports increased by 9 percent. Total daily petrol receipts also fell 10 percent, from 50.6 million litres in June to 45.5 million litres in July.

June 23, (THEWILL) — Nigeria's petrol import bill has plunged by more than 96 per cent, falling from about N2.3 trillion in the first quarter of 2025 to less than N90 billion a year later, as domestic petrol...

June 9 (THEWILL) — Nigeria’s expenditure on petrol imports fell sharply to N87.40 billion in the first quarter of 2026, down from N2.27 trillion recorded in the corresponding period of 2025, according to data from the National Bureau of...

February 16, (THEWILL) — Nigeria’s daily petrol import volume slumped by 42.2 percent in January 2026, falling to 24.8 million liters per day from 42.8 million liters per day recorded in December 2025, according to the latest Nigerian...

October 21, (THEWILL) - Sensing trouble in the days ahead, the House of Representatives last Wednesday directed the Federal Government to immediately reverse the old pump price of petroleum products, insisting that the rising costs of petrol and cooking...

August 27, (THEWILL) - The Enugu State Government has warned petrol stations against engaging in metre adjustment and other sharp practices to shortchange consumers of petroleum products, vowing to seal facilities of defaulters. . The Commissioner for Special Duties, Emeka...