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Dangote slashes PMS pump price to N860/litre

Dangote Refinery has reduced the pump price of petrol by 7.03% to ₦860/liter from ₦925/liter. This follows an earlier 4.64% price reduction in December 2024. Lower petrol prices are expected to ease living costs by lowering transportation and logistics costs. However, with Brent trading below Nigeria’s 2025 oil benchmark of $75pb, oil revenue will likely decline and strain government finances.

The price of LNG surged 10.74% (YTD) to $4.02/MMBtu

Global natural gas prices surged by 10.74% (YTD) to $4.02/MMBtu, driven by strong LNG demand and tight storage levels in Europe. Shell has forecast a 60% rise in global demand by 2040. As a major supplier of LNG, Nigeria can benefit from higher global gas prices, which will boost foreign exchange earnings.

FDC’s M.D., Mr. Bismarck Rewane, and analyst Miriam Odey discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated programmes respectively.

Click the link to watch the video.

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