Petrol

Uganda's Shift Towards Sustainable Fuel: A New Ethanol Blending Policy Beginning in January next year, Uganda is set to embark on a transformative journey in its fuel distribution sector. This new initiative will mandate all fuel distributors to incorporate locally produced ethanol into the petrol they sell nationwide. It’s not just a regulatory shift; it’s a bold stride towards sustainability and self-reliance in energy production. The announcement came from Ruth Nankabirwa, the Energy Minister, who outlined that the…

Dive into the Dynamics of Fuel Pricing in Nigeria The fuel market in Nigeria is experiencing a fascinating shift, driven by strategic decisions meant to address the rising costs of fuel while fostering competition. This calculated endeavor aims to alleviate the financial strain on consumers and businesses alike. But what does this ultimately mean for Nigeria's economy and its citizens? On Monday, Anthony Chiejina, the Chief Corporate Communications Officer of Dangote Group, shared crucial details regarding recent…

Impact of Dangote Petroleum Refinery’s New Agreement on Fuel Prices in Nigeria The Dangote Petroleum Refinery, a beacon of hope in Nigeria’s energy landscape, has recently made headlines. In a significant move that resonates across the nation, the refinery has announced a naira-for-crude oil agreement with the Nigerian government, a strategy that has allowed it to decrease petrol prices. This initiative ultimately translates to lower costs for Nigerian consumers at fuel stations, easing the financial burden on many…

The complexities of international trade and local economics can often brew storms, leaving us to wonder about the wisdom of certain policies. One such focal point right now is the bustling activity surrounding the Dangote Refinery, particularly with its naira-for-crude policy that’s been quite the topic. This policy, orchestrated by the Nigerian National Petroleum Company (NNPC) Limited, dictates that local refiners buy crude oil in naira rather than dollars. At first glance, this sounds like a strategic move to…

In the ever-evolving landscape of Nigeria's oil market, a recent revelation has captured the attention of industry insiders and consumers alike. As of now, oil marketers are grappling with a significant challenge: the steep landing cost of fuel stands at N797.66 per liter. This scenario exists despite the concerted efforts by these marketers to curb their losses by reducing fuel purchases. One can't help but wonder: How long can this continue? As the ripple effects of a fierce price war initiated by…

Fuel Price Reduction: A New Dawn for Nigerians On Monday, Nigerians will breathe a little easier with a new development that promises financial relief. There’s no denying that fuel costs have been a significant burden since the removal of fuel subsidies in this bustling nation. But what does this price cut mean for the everyday Nigerian? Recently, Dangote Petroleum Refinery took a bold step, lowering its ex-depot price from N890 to N825 per litre. It’s not just a number; it's a…

The Changing Landscape of Nigeria's Fuel Supply Imagine driving through the bustling streets of Lagos or the serene landscape of Abuja, knowing that the gasoline fueling your journey might just be a product of the prolific Dangote Refinery. Recent reports suggest a significant shift in Nigeria's petroleum industry, with this refinery supplying an impressive 60% of the nation's domestic petrol needs. Yes, you read that right—60%! But what does this really mean for Nigeria’s energy landscape?…