Connect with us

Business

New increase in fuel price not our fault — Dangote Refinery

Published

on

Spread the love

Dangote Refinery has clarified that the recent adjustment in its ex-depot price of Premium Motor Spirit (Petrol) was directly related to the significant increase in global crude oil prices.

In a statement on Sunday, the refinery noted that “any fluctuation in its international price inevitably impacts the cost of the finished product.”

Earlier last week, Dangote implemented a 5% increase in the depot price of petrol, raising it from N899.50 to N950 per litre.

However, the statement clarified that “it is important to note that this increase is considerably lower than the 15% rise in global crude oil prices.”

The 15% increase in global crude oil prices has seen Brent Crude rise from $70 to $82 in a matter of days, in addition to the premium for Nigerian crude (approximately $3 per barrel) in international markets.

Despite this, Dangote Refinery has maintained the Single-Point Mooring, SPM, ex-vessel price at N895 per litre.

All its partners, including Ardova, Heyden, and MRS Holdings, will retail petrol to Nigerians at a price of N970 per litre nationwide.

Advertisements

Business

Air Peace announces 15% Student Discount on Nigeria-London Route

Published

on

Spread the love

…offers unmatched travel benefits

West and Central Africa’s largest airline, Air Peace, continues to redefine affordability and convenience in international travel, particularly for students pursuing higher education abroad.

In a commitment to making air travel more accessible, the airline is extending its exclusive 15% student discount on economy-class tickets for flights between Nigeria and London, ensuring students can fly at reduced fares while enjoying world-class service.

This offer presents an excellent opportunity for parents and students preparing for the summer return from school to Nigeria.

By leveraging this discount, students enrolled in full-time educational programs at accredited institutions in the UK, Europe, USA, and Canada can enjoy significant savings on their travels.

The fare remains one of the most competitive in the market, allowing families to manage travel expenses more efficiently.

To qualify for the student discount, applicants must be 25 years old or younger and provide essential documents, including a valid student ID, a student visa, and an enrollment verification letter.

The discounted tickets, available for booking through Air Peace’s official website, remain valid for one year from the date of travel and are non-transferable and non-refundable.

Students can initiate their ticket request by submitting their passport data page and required documents via the airline’s designated platform, accessible through the ‘student discount’ section of the website.

Advertisement

Further inquiries can be directed to businessdevelopment@flyairpeace.com or via phone at +2349093424316 and +2347062193007.

Beyond student travellers, Air Peace is also rewarding other passengers with an ongoing promotional offer that allows travelers to earn over ₦600,000 in savings when they connect any of Air Peace’s major domestic destinations to London.

As an added benefit, passengers on this route are entitled to one extra piece of free luggage, enhancing convenience for those traveling with more baggage.

The airline continues to set the bar high with bespoke in-flight service, featuring premium comfort and a selection of continental meals tailored to meet diverse tastes.

This special promo runs until March 31, 2025, with an extended travel period until April 15, 2025.

As Air Peace remains committed to redefining air travel with affordability, comfort, and seamless connectivity, passengers are encouraged to take full advantage of these exclusive offers while they last.

Advertisements
Continue Reading

Business

Again, Dangote refinery cuts petrol price to N815/litre

Published

on

Spread the love

The price competition within the downstream oil sector persisted on Thursday as the Dangote Refinery discreetly implemented a price reduction at its loading gantry, lowering the cost of petrol loading from N825 to N815 per litre.

This marks the third time in 2025 that the Dangote Refinery has reduced the loading cost of petrol, following previous adjustments on February 1 and February 26.

The new pricing structure introduced on Thursday was reportedly met with enthusiasm by oil marketers, who consequently chose to bypass private depot owners and began sourcing their products directly from the refinery.

This N10 reduction in price is also expected to elicit a competitive response from private fuel depots, which may lower their prices to retain their market share.

On Tuesday, the landing cost of imported petrol in Nigeria decreased to N774.72 per litre, with industry analysts suggesting that the ongoing decline in prices could result in a reduction of pump prices to approximately N800 per litre.

The overall cost, which encompasses various expenses such as shipping, import duties, and exchange rate fluctuations, has led retail marketers to favour importation over sourcing products from the Dangote Refinery.

It was speculated that the landing cost could potentially reduce the pump price to N800 per litre, a factor that may have influenced the refinery’s decision to implement a recent price reduction.

In response to this development, depots in Lagos have begun adjusting their prices, with selling rates now ranging between N820 and N839 per litre to align with the refinery’s revised pricing.

Advertisement
Advertisements
Continue Reading

Business

MTN apologises to customers over 200% data price hike

Published

on

MTN
Spread the love

Nigeria’s largest telecom operator, MTN, has issued a public apology to its customers following widespread complaints about a sudden 200% increase in the price of its popular 15GB data bundle.

The price hike where internet subscribers will have to pay N6,000 for a 15GB weekly data plan which is a 200% increase from the previous N2,000, took many customers by surprise, and led to an outrage from customers on social media on Wednesday.

In message shared on social media on Thursday, MTN in an informal, conversational tone acknowledged the frustration of its customers, and sought to address the growing discontent among users who had grown accustomed to the affordable rates previously offered.

The message read, “To our 15G digital bundle lovers. You dey vex. We know. We know how upsetting it must have been to suddenly wake up to a 200% increase on your favourite digital bundle.

“We could share several reasons, and provide explanations, but omo, all that one na story. We don cast. We get it and admit it. Let’s just say na mistake.”

MTN continued the apology by urging customers not to stay angry saying, “In this love season, don’t stay angry with us. Please forgive and forget. You matter die and we will never stop showing you how much. Let’s continue our relationship. Thank you for your understanding.”

For now, only MTN has increased prices, but Airtel and Globacom are expected to follow after the Nigerian Communications Commission approved a 50 percent tariff increase in January.

The Nigeria Labour Congress has, however, condemned the implementation of a 50 per cent tariff hike by telecommunication companies, demanding an immediate reversal.

Advertisement
Advertisements
Continue Reading

Trending