Oil&Gas Archives - Independent Digital News Network

Dangote Refinery Cuts Petrol Price to ₦840 as Global Oil Crash Hits Nigerian Market

The Dangote petrol price ₦840 reduction has rippled across Nigeria’s downstream sector after global crude prices plunged to $62 per barrel. Major depots including AIPEC and NIPCO have matched the new gantry price, sparking fresh debate about pump-price relief and market stability as OPEC+ maintains its production pause into early 2026.

Auditor-General Uncovers N61bn and $51m Questionable NNPCL Payments in Explosive New Report

IDNN2 months ago2 months ago0

Nigeria’s Auditor-General has uncovered over N61bn and $51m in financial irregularities linked to the NNPCL, including undocumented payments, unauthorised virements, procurement breaches, abandoned projects, and weak internal controls. The report, transmitted to the National Assembly, demands urgent recovery and sanctions.

Tinubu Economy Reboot: FG Targets 500 CNG Stations as Manufacturers Flee Bank Loans

IDNN2 months ago2 months ago0

Nigeria’s economic landscape is shifting as the federal government launches a plan for 500 CNG stations in three years while manufacturers abandon expensive bank loans for bonds and retained earnings. The dual transition—energy reform and corporate financing realignment—signals a new phase in the Tinubu administration’s push to stabilise fuel costs, reduce inflation and cut industrial debt risks.

DANGOTE’S PETROL PRICE SLASH TRIGGERS MARKET SHOCK — IMPORTERS MAY HALT FUEL SHIPMENTS

IDNN3 months ago3 months ago0

⚙️ The Move That Tilted the Market Dangote Petroleum Refinery’s new gantry price of ₦828 per litre — down from ₦877 — has flipped Nigeria’s...

Senate Uncovers $303bn Crude Oil Diversion Under NNPC’s Defunct DSDP Scheme

IDNN3 months ago3 months ago0

A Forensic Shockwave in Nigeria’s Oil Heartland Nigeria’s Senate Ad-hoc Committee on Oil Theft has revealed staggering losses from crude oil diversions worth more than...

15% Fuel Import Duty Sparks Economic Shockwave — Marketers Warn of Price Surge, Otedola Backs Tinubu Policy

IDNN3 months ago3 months ago0

Nigeria’s 15% import duty on petrol and diesel has ignited fierce debate across the energy sector. While billionaire investor Femi Otedola applauds the move as a shield for local refiners, independent marketers warn it could send pump prices above ₦1,000 per litre. The presidency insists the measure will stabilise the market and boost energy security.

The Tariff Gamble — Inside Tinubu’s 15% Fuel Import Duty and the War for Nigeria’s Refining Future

IDNN3 months ago3 months ago0

The Federal Government’s approval of a 15% import tariff on petrol and diesel is reshaping Nigeria’s oil market. Beyond the headlines lies a calculated economic gamble to fortify local refining, restore forex stability, and tilt power away from foreign traders

Dangote Assures Stable Fuel Prices Despite 15% Import Tariff

IDNN3 months ago3 months ago0

The Dangote Group has moved to calm public concern, assuring that fuel prices will remain stable despite the Federal Government’s approval of a 15% import tariff on petrol and diesel.

⛽ Fuel Prices Set to Break ₦1,000 Mark as Tinubu Approves 15 % Import Tariff

IDNN3 months ago3 months ago0

Petrol could sell above ₦1,000 per litre after President Tinubu approved a 15 percent ad valorem tariff on fuel imports to protect local refiners. While government insists the duty will stabilise supply and boost revenue, marketers warn it could ignite another price surge and deepen hardship for millions already struggling with record inflation.

Dangote Refinery Expansion to 1.4m bpd — Africa’s Richest Man Targets Global Oil Dominance

IDNN3 months ago3 months ago0

Aliko Dangote has unveiled plans to double the capacity of his Lagos refinery from 650,000 to 1.4 million barrels per day, aiming to rival the world’s largest petroleum facilities. The $5 billion expansion will boost exports, stabilize local fuel supply, and reinforce Nigeria’s position as Africa’s refining hub under the Euro VI emission standard.