Fuel prices and subsidy

25 stories in 48 hours · 78 this week

File picture: Saba Dubai via Wikimedia Commons, CC BY 3.0

Business · Companies 41 min ago 2 publications

After Dangote’s IPO, where should Nigerian investors put their money?

The Dangote Refinery IPO has attracted about N6.4 trillion in subscription orders against an offer worth approximately N2.15 trillion, raising Excerpt, BusinessDay

Source BusinessDay

Health · Global Health 19 h ago 2 publications

There is no other Stella for Ebola, By Azu Ishiekwene

Source Premium Times also Vanguard

Business · Oil & Gas 3 h ago 3 publications

Dangote Refinery secures fuel supply deal with Cameroon’s state-owned refiner

Source Nairametrics also BusinessDay

Breaking World · Europe 21 h ago 2 publications

Hold your nose: a £1.25bn subsidy for rich Rolls-Royce’s new engine had to happen

Source The Guardian Business

Nigeria · 2027 Election 23 Oct 6 publications

Abdulaziz Abdulaziz: Why Tinubu deserves a second term

Source Daily Trust also Vanguard, Nigerian Tribune and 3 more

Nigeria · Economy 17 Oct 6 publications

Nigeria · 2027 Election 23 h ago 5 publications

From reforms to delivery: Our infrastructure investment and growth strategy

Source BusinessDay also ThisDay, Nigerian Tribune and 1 more

Business · Personal Finance 9 h ago 2 publications

Syrians struggle with soaring prices as crisis challenges post-Assad recovery

Source BBC News World

Politics · Europe 23 Oct

Meloni meets Kuwait Emir, open to extending Q8 fuel price cap

Source ANSA English

Business · Oil & Gas 29 Oct

Police investigate suspected petrol bomb attack on Durban CBD businesses

Source IOL

Business · Oil & Gas 7 h ago

Petrol and diesel prices set to change in November – what motorists should expect

Source IOL

Timeline

Friday 30 October

After Dangote’s IPO, where should Nigerian investors put their money? BusinessDay +1
How Dangote Refinery’s ₦2.15trn IPO Ambition Moved Beyond Physical Borders Channels Television
Dangote Refinery secures fuel supply deal with Cameroon’s state-owned refiner Nairametrics +2
Petrol and diesel prices set to change in November – what motorists should expect IOL
Syrians struggle with soaring prices as crisis challenges post-Assad recovery BBC News World +1
Dodging fuel price hikes, Damascus drivers turn to electric cars Al-Monitor

Thursday 29 October

There is no other Stella for Ebola, By Azu Ishiekwene Premium Times +1
Petrol price to drop by 3.51%, while diesel will go up by 1.50% from Nov. 1 – COMAC MyJoyOnline
Hold your nose: a £1.25bn subsidy for rich Rolls-Royce’s new engine had to happen The Guardian Business +1
From reforms to delivery: Our infrastructure investment and growth strategy BusinessDay +4
Police investigate suspected petrol bomb attack on Durban CBD businesses IOL
NNPC, Gov Zulum Meet Over Resumption Of Exploration In Borno Channels Television

Wednesday 28 October

Zulum rejects relocation of NNPC exploration equipment from Borno Premium Times
NNPC’s solar plant game changer for Borno – Zulum The Sun Nigeria
NNPCL to resume oil exploration in Borno Vanguard +1
Inflation set to hit 5% by year-end as fuel price hikes take hold, but it's not all bad news IOL
Demand for Aliko Dangote’s refinery IPO reportedly reaches three times its $1.6 billion target across 119 countries Business Insider Africa
NNPC reaffirms commitment to oil exploration in Borno Nigerian Tribune
Give Us Our Severance Package, Protesting WRPC Support Staff Tell NNPCL ThisDay
Petrol prices tipped to fall from Nov. 1 as diesel floor rises MyJoyOnline

Tuesday 27 October

Dangote Refinery IPO Attracts Investors From 120 Countries, All 54 African Nations Channels Television +5
Dangote Refinery’s historic IPO nets investors from 120 countries worldwide, 54 in Africa Premium Times +2
Okpebholo: Tinubu’s fuel subsidy removal, forex reforms boost states’ finances The Sun Nigeria
ADC explains Atiku’s crude subsidy plan Vanguard
IN PICS: Fire damages Durban CBD printing shop after suspected petrol bomb attack IOL
CNG conversion savings fade as motorists face rising costs, shortages BusinessDay +1
Dangote Refinery Pioneers Honeywell’s AI Technology To Boost Efficiency, Strengthen Nigerian Workforce Arise News
‘No one saves the planet if it hits their pocket’: UK heat pump installers fear planned subsidy cuts The Guardian Business +2

Monday 26 October

Sunday 25 October

GhanaChat data centre could require $61m annual subsidy – Bright Simons MyJoyOnline
Uneven petrol prices, lingering hardship as Zaria residents question NNPC discount Premium Times
Ojulari repositioning NNPCL to serve ordinary Nigerians – Agbese The Sun Nigeria
Niger imposes curfew on petrol sales amid national fuel shortage Africanews
Tinubu’s damning Buhari verdict and why the President shouldn’t be Moses Nigerian Tribune

Saturday 24 October

Friday 23 October

Meloni meets Kuwait Emir, open to extending Q8 fuel price cap ANSA English
Oil tops $117 as Middle East tensions threaten global supply, petrol hike BusinessDay +1
Eni to keep price cap on petrol and diesel through the end of the year ANSA English
Customs seize ₦79m PMS, foreign rice in Adamawa Punch
The Sh2trn Dangote refinery dream through Kwasasi villagers’ eyes Daily Nation
Petrol prices are decreasing The Portugal News
NCS impounds PMS, rice, soap, others worth over N79.8m in Adamawa Nigerian Tribune
22-year-old arrested for allegedly vandalising NNPC depot cable Daily Trust

Thursday 22 October

Wednesday 21 October

“It’s not debatable, we can’t go back,” Mbah backs Tinubu on fuel subsidy removal Premium Times +3
Senate panel summons NMDPRA, NNPC, NEITI over discrepancies in petrol import records Premium Times +1
Dangote Refinery: Principal actors and factors behind its success BusinessDay +1
Senate Rejects NMDPRA’s 2022, 2023 PMS Import Records Over Disparities With NNPC Channels Television +4
Wike defends Tinubu’s removal of petrol subsidy Punch
NCS impounds over 38,000 litres of PMS in Adamawa Nigerian Tribune +1
South Africa Extends Fuel Price Relief With Two-Month Levy Cut Arise News
Fuel price relief confirmed: Godongwana announces temporary tax cut from November IOL

Tuesday 20 October

‘I forgot to pay’: Victoria’s premier Ben Carroll drives off without paying for petrol, sparking police inquiries The Guardian World
Fuel subsidy: Tinubu gloating over Nigerians’ suffering, says Atiku The Sun Nigeria
Dangote refinery: Second ship delivers more equipment to Lamu Daily Nation
Former world champion Cordina cleared of assault after petrol station punch BBC Sport +1
Petrol price war makes Nigerian motorists abandon brand loyalty, marketers say Nairametrics
Why Dangote Refinery Lacks Enough Crude Oil – Presidency Daily Trust
Subsidy removal: Edo gets 50 CNG buses, N1bn for 5,000 women The Sun Nigeria
How Nigeria can tackle its economic constraints, says NECA BusinessDay +1

Monday 19 October

NNPC Activates Emergency Response on Eleme Pipeline Incident ThisDay
N4,000/$ Exchange Rate: NDC asks why refineries are not working Vanguard
NNPC Cuts Exploration Spending by 87%, Gas Flare Bill Falls to N499bn ThisDay
Tinubu rules out petrol subsidy return, pledges reform continuity BusinessDay +1
Nigeria won’t go back to Egypt, Tinubu rejects Atiku’s subsidy plan Punch
Reps probe alleged money laundering petitions against NNPC EVP Nigerian Tribune
Tinubu to Nigerians: We won’t return to subsidy regime Nigerian Tribune +1
‘You Cannot Ask Moses To Go Back To Egypt,’ Tinubu Insists No Fuel Subsidy Return Channels Television +2

Sunday 18 October

Horror in Edo: How dilapidated road crashed petrol tanker; 6 dead, 2,000 traders count losses Vanguard

Saturday 17 October

Niger Halts Diesel, Petrol Exports to Protect Domestic Supply Bloomberg Markets
FG Warns Return Of Fuel Subsidy Can Trigger Capital Flight Channels Television
$2.4bn subsidy fraud probe triggered my mother’s kidnap — Okonjo-Iweala Punch +1
Subsidy Return: International investors, markets have written off Nigerian opposition politicians as unserious, says Oyedele Premium Times
Parliamentary Support Group, other CSOs laud NNPCL GCEO on comprehensive audit report, discount on PMS for Nigerians ThisDay
No return to fuel subsidy, multiple exchange rates, Oyedele insists Premium Times +5
4 tactics fuel attendants use to give customers less fuel Nigerian Tribune
Renaissance Capital raises Dangote Refinery valuation to N700.41 per share Nairametrics +2

Background

Oil refinery in Lagos, Nigeria

Dangote Refinery is owned by the Dangote Group and located in Lekki, Nigeria. The refinery was officially commissioned on May 22, 2023 and began operations in January 2024, processing crude into products like diesel and aviation fuel. The production of Premium Motor Spirit (PMS), began in September 2024. Originally intended to have a refining capacity of about 650,000 barrels of crude oil per day at full operation, the refinery is the largest single-train refinery in the world with initial investments in excess of $19 billion.

Text: Wikipedia contributors, CC BY-SA 4.0. Source and full article.

Key people this week

Bola Ahmed Tinubu 8 stories
Atiku Abubakar 4 stories
Peter Gregory Obi 2 stories

Breaking

Hold your nose: a £1.25bn subsidy for rich Rolls-Royce’s new engine had to happen