Markets

KEY POINTS Aliko Dangote isn’t known for understatement. But when the billionaire industrialist declared that his 650,000-barrels-a-day refinery had ended Nigeria’s half-century struggle with fuel queues, it was a statement …

KEY POINTS Nigeria has spent a staggering ₦4 trillion ($2.58 billion) on petrol imports in the first half of 2025, according to fresh trade data that underscores the country’s stubborn …

KEY POINTS NNPC Gas Marketing Limited’s sudden increase in Compressed Natural Gas, CNG, prices for trucks, commercial vehicles, and private cars has raised alarm among motorists and industry observers. In …

KEY POINTS Dangote Petroleum Refinery announced a landmark reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol, and unveiled plans to begin direct distribution to filling …

KEY POINTS Nigeria’s anti-graft agency has questioned Mele Kyari, the immediate past chief executive of Nigerian National Petroleum Company Ltd., NNPCL, as part of a widening investigation into alleged multibillion-dollar …

KEY POINTS Fuel supplies began to stabilize in Port Harcourt on Wednesday after the Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, suspended its nationwide strike, bringing relief to …

KEY POINTS The Organisation of the Petroleum Exporting Countries, OPEC, efforts to boost oil production could worsen the global supply glut and drive prices even lower than the budgetary benchmarks …

KEY POINTS Despite government efforts to prevent a confrontation over alleged anti-labor practices at the massive Dangote Petroleum Refinery, Nigeria’s powerful oil workers’ union, NUPENG, pushed forward with a nationwide …

KEY POINTS According to official documents seen by Billionaires.Africa, Aliko Dangote’s $20 billion refinery purchased 100,000 barrels of crude worth $7.2 million from the Nigerian National Petroleum Company Limited, NNPC, …

KEY POINTS In light of the continent’s industry’s struggles to recover from a brutal energy crisis, new competition from China, and the effects of U.S. trade tariffs, U.S Major Oil …