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Dangote Refinery Resumes Petrol Supply Amid Rising Prices and Currency Challenges

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The Dangote Petroleum Refinery has resumed loading Premium Motor Spirit (PMS) for oil marketers, after a brief suspension caused by the halt of the Naira-for-Crude programme and escalating challenges linked to fluctuating crude oil prices and foreign exchange rates. The refinery, with a capacity of 650,000 barrels per day, had paused operations of loading trucks for petrol distribution following the suspension of the Naira-for-Crude arrangement, which previously allowed payments in Naira for crude oil purchases.....KINDLY READ THE FULL STORY HERE▶

Despite this, the refinery continued to load shipments in dollar-based transactions, requiring oil marketers to “top up” their payments to facilitate petrol distribution. Companies, including MRS Oil & Gas, complied with this adjustment, with the new price set at ₦880 per litre.

This shift in the payment structure comes amid a sharp rise in petrol prices nationwide. The latest price updates show that the new pump prices have climbed to ₦960 per litre in some regions, with Lagos recording slightly lower rates. In contrast, northern states are seeing the highest petrol costs, reaching ₦960 per litre in areas like Zamfara, Kano, and Jos.

The Naira-for-Crude scheme, originally aimed at improving domestic fuel supply and reducing import costs, has struggled due to global price fluctuations and currency volatility. Since October 2024, Dangote Refinery has received a total of 48 million barrels of crude under this program, contributing to the refinery’s ability to meet Nigeria’s domestic refined product needs while maintaining a surplus for export.

The refinery, which began operations in 2023, remains committed to fulfilling 100% of Nigeria’s refined product requirements, with a significant impact on the national economy, generating an estimated $21 billion annually through Nigerian crude oil processing.

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Tears For A Titan: Family Unveils Emotional Three-Day Funeral Plan For Iconic Actor Kola Oyewo!.

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The funeral arrangements for the celebrated Nigerian actor, theatre scholar, and traditional ruler, Chief Dr. Adekola Gabriel Oyewo (Kola Oyewo), have been finalized by his family, with interment scheduled for Friday, August 7, 2026, in Osun State. The veteran actor passed away at age 80, leaving behind a legacy as a prominent figure in stage, television, and academia.....KINDLY READ THE FULL STORY HERE▶

The three-day farewell, organized by the Balogun Oyekola Oyewo Memorial Committee, follows this schedule:

  • Wednesday, August 5, 2026: A wake-keep and service of songs will be held at St. Mary’s Catholic Church, Igboya, Ile-Ife.

  • Thursday, August 6, 2026: A commendation mass is scheduled at St. Mary’s Catholic Church, followed by an artistes’ night at the Obafemi Awolowo University (OAU) Oduduwa Hall. An exhibition celebrating his works and photographs will also open at the Pit Theatre, African Studies Building, OAU, running through Friday.

  • Friday, August 7, 2026: After a morning departure from his residence, a requiem mass will take place at St. Joseph Catholic Church, Oba-Ile. He will be laid to rest in a private ceremony at 12:45 p.m. at Labaluyegbe Villa, followed by a reception at Aderonmu Grammar School Field.

The Bangbola Oyewo family of the Ese-Ola Royal House remembered him as a beloved family man, traditional leader, and an inspiration to generations of theatre practitioners. His passing is regarded as the end of an era for the Nigerian theatre community, where he served as an Associate Professor of Drama and a long-standing mentor.

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Nation In Shock! Herders’ King Brutally Murdered: Cops Race Against Time To Catch Killers!.

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Authorities have initiated a comprehensive investigation into the murder of Risku Mohammed, the Benue State Chairman of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), and his associate, Yakubu Isa. The two men were reportedly ambushed by unidentified attackers near Ahimeni in the Okodu area while traveling back from a peace summit in Otukpo.....KINDLY READ THE FULL STORY HERE▶

Benue State Commissioner of Police, Cletus Nwadiogbu, condemned the act as a “senseless and criminal” effort to destabilize local peace and security. Through PPRO DSP Udeme Edet, the Commissioner announced that tactical and intelligence teams have been mobilized to hunt down the perpetrators. CP Nwadiogbu has urged the public to avoid spreading rumors or pursuing vigilante justice, instead appealing for any useful information to be shared with the police to assist in the swift arrest and prosecution of those responsible.

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Police in Benue State are hunting for the gunmen who killed MACBAN State Chairman Risku Mohammed and Yakubu Isa. The victims were attacked near Ahimeni in the Okodu area while returning from a peace meeting in Otukpo.

State Commissioner of Police Cletus Nwadiogbu denounced the killings and vowed that the command would “leave no stone unturned” in bringing the culprits to justice. Tactical units have been deployed to the area to track down the assailants. The Commissioner extended his condolences to the bereaved families and called on residents to remain calm, law-abiding, and to report any leads to the nearest police station. He reiterated the command’s firm commitment to ensuring the safety of all citizens and holding the criminals accountable.

Option 3: Action-Oriented

Following the tragic assassination of Benue MACBAN Chairman Risku Mohammed and Yakubu Isa, the State Police Command has launched a full-scale investigation. The victims were killed by unknown assailants near Ahimeni, Okodu, following a peace engagement in Otukpo.

Commissioner of Police Cletus Nwadiogbu has directed tactical and intelligence units to track down and arrest the attackers immediately. In a public statement, the command emphasized that such criminal acts will not be tolerated and that every effort is being made to secure justice for the victims. The public is encouraged to assist the investigation by reporting any relevant information through official channels and is cautioned against fueling tensions by sharing unverified reports.

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Currency Watch: Dollar Holds Firm Against Naira At ₦1,378 Amid Economic Uncertainty!.

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On June 26, 2026, the dollar-to-naira exchange rate at the Lagos parallel market, commonly referred to as the black market, saw sellers offering the dollar at ₦1402, while buyers were purchasing it at ₦1391, according to Bureau De Change (BDC) sources. It is important to note that the Central Bank of Nigeria (CBN) does not officially recognize this market and advises individuals to conduct foreign exchange transactions through their respective banks.....KINDLY READ THE FULL STORY HERE▶

Additionally, the CBN’s official rates for the same period ranged from a high of ₦1385 to a low of ₦1376. Please be aware that actual transaction prices may vary and might differ from the figures provided in this report.

Exchange Rate Summary (June 26, 2026)

  • Parallel Market (Selling): ₦1402

  • Parallel Market (Buying): ₦1391

  • CBN Official Rates: ₦1376 – ₦1385

What specific aspect of the current foreign exchange market or its impact on consumer trends would you like to discuss further?

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