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.

The Dangote Petroleum Refinery has completed the sale of 12 cargoes of refined petroleum products totalling 456,000 tonnes to neighbouring African countries in February.

In a statement, the Refinery said that the shipments, sold on a free-on-board basis to international traders, have been delivered to Côte d’Ivoire, Cameroon, Tanzania, Ghana, and Togo — a spread that signals the refinery’s ambitions extend well beyond its West African neighbourhood.

“This accomplishment underscores the Dangote Refinery’s capability to not only meet but exceed Nigeria’s domestic fuel demands.”

The exports arrive at a moment of acute disruption in global energy markets, with several African countries that have historically depended on large refineries in the Persian Gulf now looking to Dangote as an alternative source.

The refinery has framed its regional role in pointed terms, describing West Africa as a market long regarded as “a dumping ground for lower-quality fuels” and positioning its Euro 5-standard gasoline and diesel as a corrective to that history.

Photo: Tosin Eniolorunda, Moniepoint co-founder and group CEO

Nigerian fintech company Moniepoint Inc. has acquired restaurant management startup Orda Africa in a move aimed at expanding its reach into Africa’s fast-growing food service industry, a sector estimated to be worth about $50 billion across the continent.

BusinessDay reports that the deal integrates Orda’s cloud-based restaurant software into Moniepoint’s business management platform, Moniebook, allowing food vendors and restaurants to manage orders, payments, inventory and accounting from a single system.

The acquisition highlights a wider shift among African fintech firms that are moving beyond payments to offer operational tools and credit to small businesses, especially those in the informal economy.

Tosin Eniolorunda, Moniepoint co-founder and group CEO, said that the food sector represents one of the most active but underserved parts of Africa’s economy.

“The food industry is a major source of jobs and daily survival for many Africans,” Eniolorunda said, adding that many businesses still rely on manual processes and disconnected tools.

The move reflects a growing competition among financial technology firms to control the digital infrastructure behind small businesses, particularly restaurants, which generate frequent transactions and require working capital.

Africa’s food service market is expanding quickly as urban populations grow and more consumers eat outside the home.

Nigeria alone is projected to see its restaurant market reach about $19.3 billion by 2030, growing at an annual rate of more than 11 percent.

Founded in 2020, Orda built software designed for small and independent restaurants that previously operated without digital systems.

The company’s tools help businesses track orders, manage kitchen workflows and monitor stock levels.

Guy Futi, Orda CEO, said joining Moniepoint would allow the company to connect operational data from restaurants with financial services such as payments and credit.

“To truly transform the industry, we needed to connect that expertise with comprehensive financial infrastructure,” Futi said, adding that customers would continue to use the platform while gaining access to new services.