Business
Cooking Gas Demand Falls By 38%, Marketers Clash Over Price
National cooking gas demand has dropped by 38 percent, according to the Nigerian Association of Liquefied Petroleum Gas Marketers, NALPGAM.
The revelation came on the heels of clamours by a group of experts on Tuesday that demand for Liquefied Natural Gas, popularly known as cooking gas, had dropped to a record low across the country.
The President of the Nigerian Gas Association, Ed Ubong, said at a downstream event in Lagos that national gas consumption had dropped due to high prices.
The Executive Secretary of NALPGAM, Bassey Essien, also confirmed the development to The PUNCH during a telephone interview.
Following the clamour, NALPGAM, President Oladapo Olatunbosun, on Wednesday, said gas demand had dropped from 1.2 million metric tonnes per annum (mmtpa) to around 750,000mtpa.
“We are aware that the local consumption of cooking gas has dropped from 1.2 million metric tonnes per annum (mmtpa) to around 750,000mtpa out of which about 600,000 mtpa is supplied by local producers,” he said, bringing the percentage drop in demand to 37.5 percent per annum.
This brings to fore, the achievement of President Buhari’s National Gas Expansion Programme which seeks to deepen local gas usage within the next decade.
The Federal Government had targeted a consumption of 5mn metric tonnes per annum.
Olatunbosunalso alleged that the Nigeria Liquefied Petroleum Gas Association inflated price of a 20metric tons by 100 percent.
According to him, gas importers who were members of NLPGA sold to plant owners at N12.7million per 20metric tons (MT) despite purchasing the product at around N7 million per 20MT from NLNG and other local producers.
While NALPGAM is the association of indigenous private companies with operating gas bottling plants with membership spread across the country, the NLPGA is the umbrella body of all stakeholders including importers, skid owners and also players in the LPG sector in Nigeria.
According to him, cooking gas, as at Monday, May 23, was N750 per kilogram(Kg) at the depot and was sold at N800/kg at the retail end in Lagos, Ogun and some states in the South West, while the same quantity went as high as N900 to N1000 per kg at retail end in Gombe and Bayelsa and other states.
He said, “It does not make economic sense to be supplied with a receipt of around N7 million per 20MT and sell to consumers at the same price that imported LPG landed in Nigeria.
“Give us the exact figure of LPG your members got from NLNG. We are aware that the local consumption of cooking gas has dropped from 1.2 million metric tonnes per annum(mmtpa) to around 750,000mtpa out of which about 600,000 mtpa is supplied by local producers.”
READ ALSO: Cooking Gas Price Drops, Supply Rises, Govt Projects Further Decrease
The General Manager, External Relations & Sustainable Development, NLNG, Andy Odeh, told Sunday PUNCH in an email response that it could not disclose its contractual agreement with its customers. “We have no comments on your enquiries as our sales terms are confidential and commercially sensitive information,” he said, when asked to disclose the price it sold to marketers.
While speaking during one of the technical sessions on the topic ‘Gas as a catalyst for sustainable economic development- The role of Nigerian Content’, at ‘The Nigerian Content Midstream and Downstream Oil and Gas Summit 2022’ organised by the Nigerian Content and Development Monitoring Board, NCDMB, in Lagos on Tuesday, gas stakeholders unanimously submitted that national gas consumption was currently very low and expressed worry over the dwindling purchasing power of Nigerians.
PUNCH
Business
NNPCL Reduces Fuel Price After Dangote Refinery’s Adjustment
The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday, according to DAILY POST.
It was confirmed that NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945.
This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza, Central Area, Wuse Zone 4, Wuse Zone 6, and other of its filling stations in the nation’s capital.
READ ALSO:N5bn Damage: NNPCL Secures Appeal Court Victory Against Ararume
The latest downward review of fuel price in NNPCL outlets represents an N55 reduction in fuel pump price.
“It was reduced to N890 per litre this afternoon, down from N945,” an NNPCL fuel attendant told DAILY POST anonymously on Thursday.
This comes a Nigerian filling station, MRS Empire Energy, on Thursday adjusted their fuel pump price to N885 and N946 per litre, down from N910 and N955 per litre.
The latest fuel price reduction trend is unconnected to Dangote Refinery’s ex-depot petrol price adjustment by N30 to N820 per litre from N850 and the price of crude oil in the international market.
Business
Dangote Refinery Reduces Fuel Price
Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, PMS, commonly known as petrol, by N30, from N850 to N820 per litre, effective from August 12, 2025.
This was disclosed in a statement by the company’s spokesman, Anthony Chijiena, on Tuesday.
The 650,000-barrel-per-day plant said the move is part of its unwavering commitment to national development, assuring the public of a consistent and uninterrupted supply of petroleum products.
READ ALSO:Dangote Refinery Gets New CEO
“In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 CNG-powered trucks for fuel distribution across Nigeria, effective August 15, 2025,” said Chijiena.
The announcement comes as the refinery prepares to commence direct fuel distribution nationwide. The development is expected to lead petroleum product marketers to reduce their pump prices in the coming days.
In Abuja, the retail fuel price stood between N885 and N970 per litre as of Tuesday evening.
Business
Indian Refiners Abandon Russia For Nigerian Crude, As Dangote Refinery Relies On US
India Refineries have abandoned Russian crude for Nigerian crude, while domestic refiner Dangote Refinery relies heavily on West Texas Intermediate crude from the United States of America.
This followed a recent sanction threat by US president Donald Trump on India over continued patronage of Russian crude.
According to Reuters, industry sources said that Indian Oil Corporation recently bought one million barrels of Nigeria’s Agbami crude for September 2025 delivery in a tender awarded to global trader Trafigura.
Also included are one million barrels of Angola Girassol, one million barrels of US Mars, three million barrels of Abu Dhabi Murban, and two million barrels of Nigerian oil, according to Reuters.
READ ALSO:‘My Eyes Dey Your Body’: Drama As Portable Professes Love For Regina Daniels
The report noted that the purchase is part of a broader sourcing spree that has seen Indian refiners secure millions of barrels from non-Russian sources post July 2025.
Meanwhile, Indian refiners secured purchases of Nigerian crude grades; the $20bn Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, is relying on around 60 percent on US and other imoorts to feed its processing units.
Data showed that the refinery imported an average of 10 million barrels in July 2025, saying it was increasingly relying on the US for its feedstock despite the naira-for-crude deal with the Federal Government, which kicked off in October last year.
According to Reuters, the Indian Oil Corp and Bharat Petroleum have bought a million barrels of non-Russian crude billed for delivery in September and October after the US pressured India to halt purchases from Russia.
READ ALSO:
Indian state refiners had been largely absent from the Nigerian crude market spotlight since 2022; they have in the past concentrated on Russian crude amid the Russian-Ukrainian war. However, the Indian refiners paused Russian purchases in late July 2025 after pressure from US President Donald Trump.
On the part of Dangote Refinery, data from commodities analytics firm Kpler showed that in July, US barrels accounted for about 60 percent of Dangote’s 590,000 barrels per day of crude intake, with Nigerian grades making up the remaining 40 percent.
In July, the Dangote refinery’s crude imports surged to a record 590 kbd—driven largely by US barrels overtaking Nigerian supply for the first time—amid ongoing domestic sourcing challenges, Kpler reports.
“While WTI has held a significant share in Dangote’s import slate since March, this is the first time US crude has overtaken Nigerian supply—a shift driven by several factors,” Kpler stated.
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