₦airaland Forum

BY YUSUF BABALOLA AND SIVOWAKU ABIODUN,


The pump price of Premium Motor Spirit (PMS), popularly known as petrol, has risen to as high as N1,380 per litre in Lagos following an increase in the gantry price of the product by Dangote Petroleum Refinery, with the development already triggering higher transportation fares in Lagos and Ogun states.

The refinery increased its PMS gantry price from N1,265 to N1,350 per litre, representing an N85 increase.

LEADERSHIP reports that the new price was announced late Friday by the Group Commercial Operations of Dangote Petroleum Refinery and Petrochemicals and took effect from September 12, 2026.

In a circular announcing the adjustment, the refinery stated, “Dear Valued Customer, please find below the revised DPRP PMS gantry and coastal prices, which are effective from 12th September 2026.”

Following the increase, a survey by LEADERSHIP showed that petrol prices had risen across several filling stations in Lagos and Ogun states.

At the Nigerian National Petroleum Company Limited (NNPCL) filling station in Mangoro, Ikeja, petrol was sold at N1,380 per litre, while Ardova Petroleum (AP) filling station at Alakuko, Lagos, sold the product at N1,370 per litre.

In Ota, Ogun State, petrol sold for N1,335 per litre at AP filling station, Antenna, while A-F Yomis filling station in Iju, Ota, sold at N1,340 per litre and NIPCO sells for N1305/litre.

The increase has also pushed up transportation fares, with commuters in parts of Lagos and Ogun already paying more for road transport.

At the airport shuttle park in Ikeja, a bus conveying passengers from Ikeja to the NAHCO area charged N400 per passenger.

A passenger who complained that the fare was too high insisted that he would pay N300.

However, the conductor attributed the increase to the higher cost of petrol, saying: “You don’t even know how much I bought fuel today. The price has increased.”

Similarly, the fare from Atan to Ojuore in Ogun State, which previously stood at N1,000, had risen to N1,200 as of the time of filing this report.

The latest development is expected to further increase transportation costs for commuters and add pressure to household spending, particularly as transport operators adjust fares to reflect the rising cost of fuel.

Racoon:
The renewed shege promax hopelessness still being unleashed. This is still iceberg foretaste of the incoming evil. Continue to support evil because of whatever senseless interest that suits your warped reasoning.

Zionmdde:
We were just told that the average Nigerian now is better off because of nelfund and coastal way

If and when Nigerians are ready, they know what to do

Zionmdde:
At least Tinubu’s incompetence have been practically proven and Nigerians are seeing the shege

For the other candidates, they ve never been your president, have they?

saintkel:
those u call incompetent are far more better than Asiwaju but tribalism no go let una reason that way

AdegbemiroX:
What to do?

Replacing with incompetent candidates?

dre11:
https://leadership.ng/transport-fares-rise-in-lagos-ogun-as-petrol-price-hits-n1380-litre/

Flangelo12:
Donald Trump showing thr world pepper because of the Epstein files.

Firstorderwizard:
But where is NNPC in all of these?

Firstorderwizard:
But where is NNPC in all of these?

Princecalm:
Jul 29, 2015

The Nigerian National Petroleum Corporation has announced that the Port Harcourt and Warri refineries have been successfully re-streamed after a nine-month rehabilitation exercise conducted by its in-house engineers and technicians.

The corporation, in a statement, noted that both plants commenced preliminary production of petroleum products after successful test-runs, adding that while PHRC was ramping up its operation to about 60 per cent of its 210,000 barrels per day capacity, WRPC production was projected to hit 80 per cent of its installed 125,000bpd capacity.

The NNPC said the Port Harcourt refinery was projected to boost the nation’s local refining capacity with a product yield of five million litres of petrol per day, while Warri refinery would contribute 3.5 million litres of petrol.

Providing insight into the rehabilitation exercise, the NNPC noted that it had to adopt the phased rehabilitation strategy after the Original Refinery Builders, who were initially contacted for the project came up with unfavorable terms.

It said, “Though a decision was taken in 2011 to rehabilitate all the refineries using the ORB of each of the refineries, we were impelled to switch strategy after the ORBs declined participation and nominated some partners in their stead who came up with outrageously unfavorable terms.”

The NNPC stated that the nominated partners, as sole-bidders, came up with humongous price offers after two years of thorough and exhaustive scope of work definition and price negotiations.

It added that the proxies were also unwilling to provide post rehabilitation performance guarantees.

The corporation said, “The phased rehabilitation strategy which entailed phased and simultaneous rehabilitation of all the refineries using in-house and locally available resources in line with the spirit and letter of the Nigerian Content Law, also involved the use of Original Equipment Manufacturer representatives to effect major equipment overhaul and rehabilitation.”

The national oil firm said the phased rehabilitation programme, which started in October 2014 after the required funding stream was established, created a 70 per cent reduction in costs which helped largely in mitigating the financing challenges of refinery rehabilitation.

It observed that with the successful re-streaming of the PHRC and WRPC, attention has now moved to the 110,000 barrels per day Kaduna Refining and Petrochemicals Company which was billed to come on stream soon.

http://www.punchng.com/news/pharcourt-warri-refineries-commence-preliminary-operations-nnpc/

saintopus:
Dec 06, 2024
The PH Refinery ships its first export of petroleum products to Dubai.

The company is expected to load the cargo in the coming days onboard the Wonder Star MR1 ship, signalling the commencement of operations at the plant and the exportation of petroleum products.

The ship will load 15,000 metric tons of the product, which translates to about 13.6 million litres.

Although the volume coming from the NNPC into the global market is still small, the development has the potential to impact the Very Low Sulphur Fuel Oil (VLSFO) benchmarks in the future while changing the market realities for Atlantic Basin exporters into Nigeria and other regions.

The sulfur content of the export by NNPC stands at 0.26 per cent per wt and a 0.918 g/ml density at 15°C, according to Kpler, a data and analysis company.

The cargo was reportedly sold at an $8.50/t discount to the NWE 0.5 per cent benchmark on a Free on Board (FOB) basis.

Kpler reported that the development would help displace imports from traditional suppliers in Africa and Europe, as Nigeria’s falling clean product (CPP) imports are already decreasing, dragging imports into the wider West Africa region lower as well.

https://guardian.ng/energy/nnpc-begins-export-from-ph-refinery-as-dubai-firm-buys-first-cargo/

AdegbemiroX:
What to do?

Replacing with incompetent candidates so things can go worse?

Franking:
Does it mean we can not simply sell our crude to Dangote refineries at a steady price to avoid all this up and down movement?

Or is this rocket science that I don't understand?