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Dangote Refinery to facilitate uniform pricing and offer retail credit

Dangote Refinery will begin nationwide distribution of PMS and diesel from August 15, 2025, to facilitate uniform pricing and nationwide distribution. This would bring to an end the petroleum equalization fund and the bridging cost that has been a major drain on federal revenues and resources. Additionally, a two-week credit facility will be granted to independent marketers purchasing 500,000 litres, for an additional 500,000 litres.

Inflation eased to 22.97% in May, might increase in June – keep your fingers crossed

Headline inflation fell by 0.74% to 22.97% in May from 23.71% in April, directionally aligning with FDC’s forecast. The decline was driven by a stable exchange rate and lower energy prices (PMS dropped to N875/litre from N890/litre). However, inflation may rise in June due to Mokwa flooding and higher energy costs from the escalation of the Israel-Iran conflict.

The price of 350g (1 derica cup) of ogbono (wild mango) plunged by 52.4% to N5,000

The price of 350g of ogbono (wild mango) dropped sharply by 52.4% (YTD) to N5,000 from N10,500. This is due to increased supply from the harvest season. The price drop was further driven by lower logistics costs, as PMS fell to N875/litre from N935 in January. However, prices may rise marginally due to the recent hike in diesel prices from N950/litre to N1050/litre.

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

Click the link below to watch the video.

Enjoy your read!