Energy
How Dangote Refinery Keeps Nigeria’s Petrol Prices Among World’s Lowest
Nigeria has retained one of the lowest petrol prices globally despite recent increases driven by geopolitical tensions in the Middle East, with industry data pointing to the stabilising role of Dangote Petroleum Refinery & Petrochemicals in cushioning the domestic market.
According to GlobalPetrolPrices.com, petrol in Nigeria currently averages $0.88 (N1,191.39) per litre, significantly below the global average of $1.32 (N1,787.08) per litre, based on an exchange rate of N1,353.85 to the dollar. This places Nigeria among the more affordable fuel markets globally, even as international prices continue to rise.
Across key markets, petrol prices are notably higher, with the United States at $1.075 (N1,455.39), India at $1.095 (N1,482.47), and South Africa at $1.189 (N1,609.73) per litre. Prices rise further in advanced economies, including the United Kingdom at $1.874 (N2,537.11), France at $2.152 (N2,913.49), and Germany at $2.343 (N3,172.07), while Hong Kong records as high as $3.967 (N5,370.72) per litre.
ALSO READ: Dangote Refinery Cuts Petrol, Diesel Prices
Nigeria also compares favourably within the West African region, where petrol prices are higher in Togo at $1.192 (N1,613.79), Benin at $1.218 (N1,648.99), Ghana at $1.240 (N1,678.77) and Cameroon at $1.478 (N2,000.99) per litre.
Analysts attribute this relative stability to the growing impact of Dangote Petroleum Refinery & Petrochemicals, which has helped moderate domestic price volatility by absorbing a significant portion of the global cost pressures while ensuring consistent product availability. This intervention has become particularly critical as many countries face supply disruptions, rationing and sharp price spikes following the escalation of tensions in the Middle East.
A key insight from the data is that very few countries globally sell petrol below $1 (N1,353.85) per litre without some form of state intervention.
According to GlobalPetrolPrices, most countries with pump prices under the $1 threshold operate fuel subsidies, price controls, or regulated pricing mechanisms to shield consumers from international market volatility. In contrast, Nigeria operates a fully deregulated downstream market following subsidy removal in 2023, meaning domestic prices are directly influenced by global crude movements and foreign exchange dynamics.
Despite Nigeria’s transition to a deregulated market following subsidy removal in 2023, Dangote refinery has continued to act as a buffer for the economy. While domestic petrol prices have risen by about 35 to 40 per cent since the onset of the crisis, this increase remains lower than in several other markets, with countries such as Cambodia and Vietnam recording hikes of over 67% and 49% respectively.
Industry observers note that without the scale and capacity of Dangote Refinery, Nigeria would have been far more exposed to global supply shocks, potentially resulting in higher pump prices, foreign exchange pressures and widespread product shortages. Instead, local refining has strengthened supply security, moderated price increases and reinforced Nigeria’s position as one of the more stable fuel markets globally at a time of global instability.
Energy
NMDPRA Sets Digital Gas Distribution Licence Auction Date
With the completion of a nationwide gas-grid mapping exercise expected in October, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has revealed that the digital licensing round for gas distribution areas will happen before the end of 2026.
The Authority Chief Executive, Engr. Rabiu Umar, made the disclosure on Wednesday at the Gas Investment Forum 2026, themed “Positioning Nigeria as Africa’s Global Gas Powerhouse.”
Umar said applicants would bid for gas distribution licences in designated areas across the country under a process similar to the award of Oil Mining Licences (OMLs) in the upstream sector.
“Under the licensing round, applicants will bid for gas distribution licences in the gridded areas available across the country, in the same way licensees apply for Oil Mining Licences (OMLs) in the upstream sector,” he said.
READ ALSO: MT Asharami Ghana Delivers 5,000MT LPG Cargo to Ghana
He said the initiative was part of efforts to move Nigeria from a fragmented gas-access system to an open-access regime that would allow more participants to use existing infrastructure.
“Without infrastructure, reserves are potential. They will continue to have potential,” Umar said.
“With infrastructure, gas becomes productivity and national resilience, especially in the light of the global headwinds that we see.”
According to him, the country needs infrastructure capable of moving gas from wellheads to processing plants, power stations, industrial clusters, transport corridors, homes and export terminals.
Umar said the Federal Government’s Decade of Gas Initiative was serving as an “engine of execution”, while NMDPRA was accelerating licences and approvals for gas processing plants, pipelines, storage facilities, compressed natural gas (CNG) and liquefied natural gas (LNG) projects.
Energy
MT Asharami Ghana Delivers 5,000MT LPG Cargo to Ghana
As part of efforts to position Ghana as a strategic hub for regional energy trade, MT Asharami Ghana, a 40,000-cubic-metre Liquefied Petroleum Gas (LPG) carrier has delivered 5,000 metric tonnes of LPG in its maiden voyage to Ghana, thus boosting efforts to strengthen energy security, and LPG supply reliability.
Purpose-built to serve Ghana and neighbouring markets, MT Asharami Ghana forms part of Sahara Group’s integrated LPG infrastructure strategy across Africa.
Welcoming the vessel, Hon. Dr. John Abdulai Jinapor, Minister for Energy and Green Transition, described the arrival of MT Asharami Ghana as a major boost to Ghana’s clean energy ambitions.
“The arrival of MT Asharami Ghana represents a significant step forward in our quest to expand access to cleaner energy solutions for Ghanaians. As we work towards increasing LPG adoption across the country, investments like this are essential to strengthening supply reliability and achieving our clean cooking objectives.”
READ ALSO: Nigeria @ 66: Chevron Reaffirms Commitment to Partnership with Nigeria
The Minister said Ghana’s ambition of increasing LPG utilisation and improving energy security can only be achieved through strong partnerships between government and responsible private-sector investors.
“We commend Sahara Group for standing shoulder-to-shoulder with Ghana over the years in supporting our aspirations for energy security, economic growth and sustainable development. The success of our energy transition journey depends on credible and committed partners.”
According to Wale Ajibade, Executive Director, Sahara Group, the vessel represents far more than an investment in maritime infrastructure.
Ajibade noted that Ghana’s target of increasing LPG adoption in 50 per cent of households by 2030, up from about 30 per cent today, makes investments in supply infrastructure increasingly important.
“At Sahara, we see MT Asharami Ghana as a symbol of confidence in Ghana’s future and the country’s growing role in regional energy trade. It reflects our unwavering belief in Ghana’s immense potential and our determination to work alongside stakeholders to deliver sustainable energy solutions that improve lives, create opportunities and drive inclusive growth.”
He added that the vessel is part of a broader, integrated infrastructure strategy combining shipping, storage, and downstream distribution to strengthen Ghana’s LPG value chain.
Yaa Serwaa Alifo, Managing Director, Asharami Ghana, described the vessel’s arrival as the culmination of a vision and a bold statement of the company’s commitment to Ghana’s energy future.
“What we are celebrating here is the culmination of a vision and a bold statement of our commitment to Ghana’s energy future. Asharami Ghana will help ensure that homes, businesses and families across Ghana have reliable access to cleaner cooking fuel,” she said.
Alifo acknowledged the support of the Government of Ghana, the Ministry of Energy and Green Transition, the National Petroleum Authority, Sahara Group’s leadership, and all stakeholders whose collaboration helped bring the project to fruition.
As demand for LPG continues to grow across the sub-region, investments in marine infrastructure such as MT Asharami Ghana will become increasingly important in ensuring security of supply, operational efficiency, and sustainable economic growth.
Energy
NNPC Flaunts $800m Ima FID, as Affirmation of Upstream Viability
The $800 million Final Investment Decision (FID) on the Ima Gas Project (IGP) has been described as a landmark development that affirms the growing viability of Nigeria’s upstream gas sector.
The Nigerian National Petroleum Company Limited (NNPC Ltd) flaunted the project, located offshore in OMLs 112 and 117 and developed by AMNI International in partnership with TotalEnergies, noting that it will produce about 300 million standard cubic feet of gas per day at peak.
It added that the output will supply critical feedgas to the Nigeria LNG Limited in support of its Train 7 expansion, which will increase capacity at the Bonny Island plant from 22 million tons per annum to 30 Mtpa.
READ ALSO: NMDPRA Poised to Curb Under-dispensing at Petrol Stations
This was detailed in a statement in which the state oil major stressed that the FID was enabled by the presidential directives of 2024, which provided fiscal incentives for non-associated gas, streamlined contracting and lowered development costs.
Group Chief Executive Officer, NNPC Ltd, Bayo Ojulari described it as “a decisive vote of confidence in Nigeria’s gas sector and in the bold reforms” that have created competitive terms and a predictable investment environment.
The NNPC Ltd also commended the collaboration between AMNI, TotalEnergies and the Nigerian financial sector, saying the model of indigenous operator, international partner and domestic capital is a template for future developments.
“NNPC reaffirms its commitment to work with government, regulators and industry partners to sustain investment momentum and deploy Nigeria’s gas resources for industrialisation, job creation and long-term prosperity,” the statement added.





