Business

Petrol hits N1,371 per litre in Abuja, consumers decry soaring prices

Published

3 months ago

March 24, 2026

219 Views

Fuel prices in the Federal Capital Territory have surged sharply, with petrol now selling for as high as N1,371 per litre at some stations, sparking frustration among consumers.

Reports showed NIPCO selling at N1,371 per litre and AYM Shafa at N1,370 per litre. NNPC Retail has also raised its pump price to N1,361 per litre, up from N1,261 per litre last week, while MRS, a Dangote partner station, now charges N1,367 per litre, up from N1,270.

The increases come after Dangote Refinery’s recent gantry price adjustments, marking roughly a 55 per cent rise in petrol prices over the past three weeks.

Earlier hikes included:

March 3: NNPC at N975/litre, AYM Shafa at N960/litre

March 6: NNPC at N1,068/litre, AYM Shafa at N1,098/litre

March 9: NNPC climbed from N1,161 to N1,267/litre; AYM Shafa rose from N1,230 to N1,300/litre

Minor dips two days later were short-lived, as prices surged again in subsequent days.

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Business

BUA Group Denies Reports of Bid to Acquire Stake in Kano Pillars Football Club

Published

13 hours ago

June 30, 2026

Charles Flames

26 Views

BUA Group has firmly dismissed online reports claiming that the conglomerate and its Chairman, Abdul Samad Rabiu, submitted a bid to acquire a 70% stake in Kano Pillars Football Club.

In a press statement issued on Tuesday, the company described the publication as inaccurate and misleading.

PRESS STATEMENT

Re: False Claims of Bid to Acquire Stake in Kano Pillars Football Club

Our attention has been drawn to an online publication suggesting that BUA Group and its Chairman, Abdul Samad Rabiu, have submitted a bid to acquire a 70% stake in Kano Pillars Football Club.

We would like to clarify that this report is inaccurate and does not reflect any position, action, or communication from BUA Group or Abdul Samad Rabiu. No such bid has been made, and there has been no engagement with any party on this matter.

We kindly request that this report be disregarded, and we encourage the public and members of the press to rely only on official statements issued through BUA Group’s verified channels for accurate information regarding our activities.

We appreciate the continued interest in BUA Group and thank the public for their understanding.

BUA Group reiterated its commitment to transparency and urged stakeholders to verify information through its official communication channels.

Business

Nigeria’s oil minister orders marketers to reduce fuel price

“While we believe that market forces will eventually restore equilibrium, the regulator also has a statutory responsibility to ensure that deregulation does not become an avenue for profiteering. This must be done in line with the extant provisions of the Petroleum Industry Act,”said Lokpobiri.

Published

17 hours ago

June 30, 2026

OCHEFA

25 Views

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, at the NMDPRA General Counsel and Legal Advisers Forum, directed petroleum marketers to reduce fuel price .

At the two-day forum themed: “Beyond Compliance: Driving Regulatory Certainty and Investment Confidence in Nigeria’s Petroleum Sector, Lokpobiri noted that refiners and marketers have continued to sell petrol at elevated pump prices despite the significant decline in crude oil prices from a peak of $120 per barrel to about $72 per barrel last week.

He said: “Following de-escalation of tensions between Iran and the United States, we expected to see a commensurate downward adjustment in the prices of PMS and other petroleum products.However, that has not yet happened.”