Nigerians may experience an increase in the prices of premium energy products diesel and petrol as the Dangote Petroleum Refinery temporarily halts the sale of petroleum products in Naira.
“This decision is necessary to avoid a mismatch between our sales proceeds and our crude oil purchase obligations, which are currently denominated in US dollars,” the company said in a statement yesterday.
The $20billion refinery based in Lagos said the sales of its products in Naira have exceeded the value of Naira-denominated crude it has received from the Nigerian National Petroleum Company Limited (NNPCL).
“As a result, we must temporarily adjust our sales currency to align with our crude procurement currency,” the company explained.
The refinery said it remained committed to serving the Nigerian market and would resume the sale of its product to the local market in Naira as soon as it received crude cargoes from the NNPCL in Naira.
“As soon as we receive an allocation of Naira-denominated crude cargoes from NNPC, we will promptly resume petroleum product sales in Naira,” it said.
The announcement by the refinery comes amid its price war with the NNPCL.
As part of moves to reduce the strain on the US dollars, and guarantee price stability of petroleum products, the Federal Executive Council (FEC) in July 2024, directed the NNPCL to sell crude oil to Dangote Refinery and other local refineries in naira and not in United States’ greenback.
In the beginning of March 2025, the NNPCL said its Naira-denominated crude sales agreement with the Dangote Refinery was structured for six months with March 2025 as the expiration date.
The state company, however, said that talks were on to replace the contract, and that over 48 million barrels of crude oil have been made available to Dangote Refinery since October 2024 under the Naira-denominated arrangement.
The NNPCL also said it had made over 84 million barrels of crude oil available to the private refinery since it commenced operations in 2023.
Nigeria, Africa’s most populous nation, faces energy challenges, with all its state-owned refineries non-operational for decades until 2024. The country was heavily reliant on imported refined petroleum products, with the state-run NNPCL being the major importer of the essential commodities.
Fuel queues are commonplace in the country. Prices of petrol more than quadrupled since the removal of subsidy in May 2023 by President Bola Tinubu, from around ¦ 200/litre to about ¦ 1,000/litre, compounding the woes of the citizens who power their vehicles, and generating sets with petrol, no thanks to decades-long epileptic electricity supply.
Last December, the billionaire industrialist commenced operations at the facility situated in Lagos with 350,000 barrels a day. The refinery, which was initially bogged by regulatory battles, hopes to achieve its full capacity of 650,000 barrels per day by the end of the year. The refinery has begun the supply of diesel and aviation fuel to marketers in the country and now petrol.

Nigeria’s Quadri Aruna has overtaken Egypt’s Omar Assar to become Africa’s highest-ranked player in the world, now sitting at 18th in the week 12 ranking released on Tuesday.
Aruna moved up from 19th place in week 11 to 18th in the latest ranking, while Assar dropped from 17th to 19th.
Denmark’s Jonathan Groth took over Assar’s 17th place, moving up from 18th.
Despite finishing as runner-up at the 2025 ITTF Africa Cup, Aruna’s impressive performances at the WTT tournaments this year have boosted his ranking.
Aruna remains the only African male player to have reached the semi-finals of the WTT Contender Doha, repeating his 2023 feat earlier this year in January.
This achievement has propelled him ahead of Assar, who beat him to become the champion of the 2025 ITTF Africa Cup.
Aruna’s next tournament is the WTT Contender Chennai which serves off in India from March 23 to 20.
In the women’s singles, Egypt’s Hana Goda maintained her top spot in Africa, moving up one place to 26th in the week 12 ITTF ranking. Her compatriot, Dina Meshref, remained static at 33rd, holding her position as the second-best-ranked female player in Africa.
China’s Wang Chuqin retained his position as the second-best player globally, behind his compatriot Lin Shidong, who continues to hold the top spot. Japanese superstar Tomokazu Harimoto dethroned China’s Liang Jingkun as the third-best player in the world after his semifinal finish in Chongqing.
In the women’s ranking, the top five remained unchanged, with China’s Sun Yingsha holding onto her top spot after retaining her WTT Champions Chongqing title.

Mr Mike Okiro, former Inspector-General of Police( I-G), has called on warring factions in the Rivers crisis to lay down their arms and engage in peaceful dialogue to find a lasting solution that benefits all parties.

This is contained in a statement on Thursday in Abuja, where Okiro expressed concern about the political unrest that plagued the state for nearly two years.

The Tide source reports that President Bola Tinubu on Tuesday declared a six-month state of emergency in Rivers following persistent crisis there.

Tinubu had earlier presided over a high-level emergency meeting involving principal officers of the National Assembly and top security chiefs at the Presidential Villa, Abuja over the River crisis.

This followed the political standoff in Rivers, which raised tensions, leading to fears of instability in the state.

The meeting also followed a pipeline explosion that rocked the Trans Niger Pipeline in Bodo Community in Gokana Local Government Area of Rivers.

The blast, which occurred late on Monday near the Bodo-Bonny Road, further heightened concerns over security and stability in the oil-rich region.

Declaring the state of emergency in a broadcast on national television afterwards, the president said the decision had become compelling after the Governor and his Deputy failed to seek presidential intervention.

Meanwhile, the former I-G urged the parties to exercise caution and respect human rights.

Okiro said “I call on all warring factions to lay down their arms and engage in peaceful dialogue to find a resolution that will benefit all the parties.”

He highlighted the need for unity, dialogue and respect for human rights to overcome the current crisis in the area.

He recalled his successful efforts in spearheading the amnesty programme for the Niger Delta region in 2009, which brought peace to the area after years of militancy.

He emphasised the importance of working together as a community to ensure the safety and well-being of citizens during challenging times.

He called for a peaceful and sustainable solution that upholds the principles of democracy and respects the rights of all individuals.

Okiro said he is ready to work with other elders and stakeholders in the state to find a lasting solution to the crisis.

“Just over two weeks ago, I was about to form a committee of elders and stakeholders in Rivers to address this political impasse,” he said.

He, however, urged all parties involved to comply with directives from the President and work toward  peaceful resolution of the issues at stake.