downstream petroleum

Nigeria's government has suspended petrol import licenses for the second consecutive month, enforcing provisions of the Petroleum Industry Act as Dangote Refinery now supplies nearly two-thirds of domestic demand.

Pump prices across Nigeria have surged past N1,000 per litre following Dangote refinery's gantry price increase to N995/litre, while NNPC engages international traders to secure crude feedstock for the 650,000 bpd facility.