NNPCL sells N336bn crude to Dangote, foreign refiners – Report-

 The Nigerian National Petroleum Company Limited generated N336.37bn from crude oil sales in the first quarter of 2025, with Dangote Petroleum Refinery accounting for over 32 per cent of the transactions, according to findings by The PUNCH. The details were contained in internal documents from the NNPCL, submitted at the Federation Account Allocation Committee meetings, and obtained by The PUNCH on Monday. The documents showed that crude supplies to Dangote refinery amounted to N107.44bn within the three-month period. The crude was sold at unit prices ranging from $74.87 to $80.34 per barrel, using exchange rates between N1,501.22/$ and N1,562.91/$……(Read More)

Marketers decry losses as NNPC drops petrol price to N880/litre –

Petroleum product marketers on Monday lamented their losses as the Nigerian National Petroleum Company Limited reduced the price of Premium Motor Spirit (petrol) to N880 per litre in Lagos and N935 in Abuja. From N925, some NNPC retail outlets in Lagos changed their pump price to N880 on Easter Monday, while those in Abuja adjusted from N950 to N935. The NNPC price reduction came barely a week after the Dangote refinery lowered its ex-depot price from N865 to N835 per litre. The $20bn refinery also directed its partners like MRS, Heyden, and Ardova to sell a litre of petrol at the rate of N890 instead of N920 in Lagos, N900 in the Southwest, N910 in the South-South, and N920 in the Northeast………(Read More)

Dollar slides to lowest point since March 2022 –

The US dollar depreciated on Monday to its lowest point since March 2022 as investor confidence in the United States economy took another hit. According to Reuters, the dollar suffered a decline due to President Donald Trump’s attacks on the Federal Reserve Chairman, Jerome Powell. Against a basket of currencies, the dollar slid as low as 97.923 on Monday. The currency also fell to a decade-low against the Swiss franc, while the euro broke above $1.15, its highest since November 2021. Sterling rose to its highest since September at $1.34 against the dollar, while the Australian dollar scaled a four-month high of $0.6430. The New Zealand dollar reclaimed the $0.6000 level for the first time in more than five months…….(Read More)

Experts caution FG amidst IMF report on Nigeria’s economic uncertainty –

Economic experts have reacted to a recent report by the International Monetary Fund (IMF) suggesting Nigeria’s economic outlook is marked by significant uncertainty. While agreeing with the report, experts called for a proactive step on the part of the government to hedge against the uncertainty triggered by declining oil prices and the ongoing tariff war. The IMF had hinged its report on “elevated global risk sentiment and lower oil prices” which, it noted, impact the Nigerian economy. The IMF’s statement was the observation of its staff who recently completed their 2025 Article IV Mission to Nigeria……(Read More)

Indonesia May Reduce Oil, Gas Imports from Nigeria –

 Indonesia is set to propose increasing its imports of crude oil and liquefied petroleum gas from the United States by around $10 billion and reducing imports from other countries as part of its tariff negotiations, Energy Minister, Bahlil Lahadalia, has said. A Reuters report quoted Kpler data as showing Indonesia imported 217,000 barrels per day of Liquefied Petroleum Gas (LPG) last year, around 124,000 bpd of which came from the US. Indonesia also imported around 306,000 bpd crude oil last year, with Nigeria, Saudi Arabia and Angola as the top suppliers, Kpler data showed. Around 13,000 bpd were imported from the US. Around 23,000 bpd were imported from Qatar, while the United Arab Emirates and Saudi Arabia each contributed around 20,000 bpd……(Read More)

Trump approval rating dips: many wary of his wielding of power, Reuters/Ipsos poll finds –

President Donald Trump’s public approval rating edged down to its lowest level since his return to the White House, as Americans showed signs of wariness over his efforts to broaden his power, a Reuters/Ipsos poll that closed on Monday found. Some 42% of respondents to the six-day poll approved of Trump’s performance as president, down from 43% in a Reuters/Ipsos poll conducted three weeks earlier, and from 47% in the hours after his January 20 inauguration. The start of Trump’s term has left his political opponents stunned as he has signed dozens of executive orders expanding his influence over both government departments and over private institutions such as universities and law firms…..(Read More)