Economy
Fuel price cut: Dangote refinery dumps petrol marketers
- /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://naijablitznews.com/wp-content/uploads/2024/08/Dangote-Refinery-1.jpeg&description=Fuel price cut: Dangote refinery dumps petrol marketers', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://naijablitznews.com/wp-content/uploads/2024/08/Dangote-Refinery-1.jpeg&description=Fuel price cut: Dangote refinery dumps petrol marketers', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
Dangote Refinery has dumped petroleum products marketers as its direct fuel and diesel distribution nationwide scheme draws closer.
This comes as a letter by the 650,000-barrel-per-day refinery to all its strategic partners dated July 13th, 2025, and signed by Dangote’s Group Executive Director-Commercial Operations, Fatima Dangote, showed that the plant has suspended its discounted fuel supply scheme.
The company cited racketeering by petroleum products markets for its action.
Dangote Refinery’s letter partly reads, “DPRP Management is suspending the discounted price offered to partners effective 13th July 2025 and working towards restructuring the scheme.”
It, however, urged petrol marketers to “judiciously explore other incentive/reward schemes.”
However, the development comes as the Dangote Refinery is set to commence its direct-to-customers petroleum products distribution scheme from August 15, 2025.
Meanwhile, the spokesman of Dangote Industries has not officially confirmed the development as of filing the report on Thursday.
The retail marketers of Dangote Refinery include MRS Oil, Ardova Plc, Hyde Energy, Optima Energy, Heyden Petroleum, Techno Oil and others.
Earlier, the Independent Petroleum Marketers Association of Nigeria had hinted at a plan to adopt Dangote Refinery’s fuel distribution initiative.
However, the Petroleum Products Retail Outlets Owners Association of Nigeria has visibly kicked against Dangote Refinery’s initiative over fear of monopoly and business shutdown.
Dangote Refinery reduced its ex-depot price to N820 per litre, while retail prices at Nigerian National Petroleum Company Limited, MRS filling stations, and others stood between N885 and N915 per litre in Abuja.
Dollar To Naira Exchange Rate Today 27 January 2023(Black Market)
The Black Market Dollar-to-Naira Exchange Rate for 28th May 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 28th May 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1393 and buy at ₦1385 on Thursday, 28th May, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1393
Buying Rate ₦1385
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1376
Lowest Rate ₦1374
The Black Market Dollar-to-Naira Exchange Rate for 26th May 2026 Can Be Accessed Below.
IMPORTANT NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 26th May 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦11395 and buy at ₦1385 on Tuesday, 26th May, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1395
Buying Rate ₦1385
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1377
Lowest Rate ₦1373
Nigeria’s Gross Domestic Product, GDP, grew by 3.89 percent in real terms in the first quarter of 2026, as the non-oil sector accounted for 96.08 percent.
The National Bureau of Statistics, NBS, disclosed this in its GDP report for Q1 2026 released on Monday.
The Q1 GDP figure is higher than the 3.13 percent recorded in the similar period in 2025.
Details of the report showed that nominal GDP stood at N110.79 trillion, while in real terms it is N51.26 trillion as of Q1 2026.
NBS further said that the services sector contributed more to the aggregate GDP at 57.73 percent in the period under review.
However, when compared to the fourth quarter of 2025, the country’s GDP slowed by 0.10 percent.
“Gross Domestic Product grew by 3.89 percent (YoY) in real terms in Q1 2026, higher than the 3.13 percent recorded in Q1 2025.
“In terms of share of the GDP, the services sector contributed more to the aggregate GDP in Q1 2026 at 57.73%,” NBS stated.
The report showed that the oil sector contributed 3.92 percent while the non-oil sector accounted for 96.08 percent.
Nigerian Catholic priest convicted of sexual assault in US
NDC breached Electoral Act in FCT Senate ticket process – Aisha Yesufu
‘So much injustice going on in Nigeria’ – British rapper Skepta
-
News18 hours agoCJ Reassigns Nafiu-Bala’s Case Against ADC Leadership To Justice Lifu
-
News18 hours agoHow NDC Senatorial primary was conducted in closed room-Aisha Yesufu
-
News18 hours agoAngry protesters lockdown Ibadan, want immediate rescue of abducted Oyo teachers, pupils
-
Sports14 hours agoRead Major Talking Points Ahead Of PSG v Arsenal Champions League Final Today
-
News19 hours agoUCL: Dixon gives tips to Arteta on who to play in central midfield against PSG
-
Sports18 hours agoSAD! Super Eagles Star Chukwueze Breaks Down At Mother’s Funeral
-
News14 hours agoEach time I sleep with my wife it’s pay as you go, man tells court
-
News13 hours agoKWARA 2027: A FOOD FOR THOUGHT AND A POINT OF DECISION
Warning: Undefined variable $user_ID in /home/naijuinz/public_html/wp-content/themes/zox-news/comments.php on line 49
You must be logged in to post a comment Login