business
Petrol Falls Below ₦900 in Some States as Dangote Slashes Depot Prices

Fuel Prices Fall Below ₦900 in Several Nigerian States as Dangote Refinery Lowers Wholesale Rates
Petrol prices across many Nigerian regions have dipped beneath ₦900 per litre, offering relief to consumers and businesses following a strategic price cut by Dangote Petroleum Refinery. The refinery reduced its ex-depot rate by ₦40—from ₦880 to ₦840—starting June 30, 2025, prompting retailers to adjust pump prices.
Fuel stations in Lagos and Ogun were among the first to reflect the new pricing, with many outlets now selling petrol between ₦875 and ₦890. Though a few locations maintained slightly higher prices, most have begun aligning with the new trend.
Regional Pump Price Overview
Early adopters like MRS Oil dropped prices from ₦925 to ₦885 in Lagos. Average rates across zones now stand at:
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South-West: ₦895
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North-West/North-Central: ₦905
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South-East/South-South/North-East: ₦915
These reductions follow the global drop in crude oil prices, driven by easing tensions in the Middle East. With Brent crude falling to $68 and WTI to $66 per barrel, the cost pressure on local fuel distributors has significantly declined.
Marketers’ Initial Hesitation
Despite the refinery’s move, some fuel marketers delayed price adjustments, citing existing stock purchased at higher prices. Billy Gillis-Harry, President of PETROAN, noted that station owners risk major losses if forced to sell below cost. “No outlet can survive losing ₦100 per litre while restocking,” he explained.
Wholesale Depot Reactions
Competition among depots intensified following Dangote’s cut. Market intelligence from Petroleumprice.ng showed ex-depot prices falling across key suppliers:
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₦840/litre: RainOil, Matrix, Pinnacle, Emadeb, Swift, Wosbab
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₦838–₦839/litre: First Royal, MAO, Integrated, Aipec
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₦837–₦858/litre: Aiteo, A&E, NIPCO
These rates suggest pump prices could consistently trend downward in coming days.
Filling Station Price Trends
Our team observed live pricing updates along the Lagos-Ibadan axis over the weekend:
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As-Sallam: ₦875
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AP, SGR: ₦880
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Akiavic: ₦885
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SAO: ₦890
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NIPCO, Satellite: ₦900
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RainOil: ₦910
This marks a sharp contrast to prices seen three weeks ago, when petrol sold for ₦915–₦955 in most cities and as high as ₦980 in remote northern areas due to distribution challenges.
Impact on Businesses
The decline in fuel prices is expected to ease operating costs for MSMEs, especially those reliant on transportation and power generation. Reduced logistics expenses could help small businesses stay afloat amid ongoing inflation and economic uncertainty.
As crude oil prices stabilize globally, Nigerian consumers and enterprises may begin to feel some economic relief—at least at the pump.
Stay connected for more developments on fuel pricing and energy sector updates.
business
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business
We are Hiring: Social Media Growth Ambassadors (2 Positions)

Remote | Part-Time or Flexible Hours
Are you active on social media and passionate about business, jobs, and opportunities?
Do you know how to attract attention, spark engagement, and drive traffic online?
Then this opportunity is for you!
Role Overview:
We are looking for 2 dynamic individuals to serve as Social Media Growth Ambassadors for GlobabizEmpire.com — a trusted online platform for global jobs, business insights, and income opportunities.
Key Responsibilities:
-
Promote GlobabizEmpire.com consistently on Facebook, Instagram, WhatsApp, TikTok, or X
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Share daily job updates, business news, and smart money tips from the website
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Drive website traffic using content, trends, reels, and referral links
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Respond to DMs/comments and convert viewers into website visitors
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Provide weekly reports on reach, impressions, and traffic performance
What You’ll Need:
-
A strong presence on social media (min. 2,500 followers on at least one platform)
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Great communication skills and social media creativity
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Consistency and accountability
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Passion for helping people grow their careers or income
What You’ll Get:
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Monthly stipend + performance-based bonus
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Opportunity to grow your personal brand with us
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Free digital training + content materials
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Certificate of Digital Advocacy (upon successful campaign)
How to Apply:
Send us a message with:
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Your full name
-
Link to your active social media profiles
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Short message on why you are the perfect fit
-
Screenshot of your past engaging post (if available)
Email: [email protected]
WhatsApp: +234 8153507382
Deadline: August 22, 2025
business
NEXIM Bank and SMEDAN Partner to Strengthen SME Export Capacity Nationwide

NEXIM Bank and SMEDAN Sign Landmark MoU to Boost SME Export Growth in Nigeria
In a bold move to strengthen Nigeria’s small business ecosystem, the Nigerian Export-Import Bank (NEXIM) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a groundbreaking Memorandum of Understanding (MoU) aimed at accelerating the growth and global competitiveness of Small and Medium Enterprises (SMEs) across the country.
A Strategic Partnership for Economic Transformation
This MoU formalizes a strategic alliance between NEXIM and SMEDAN, focusing on:
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Export financing and access to global markets
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Tailored financial products for SMEs
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Capacity-building and training programs
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Promotion of Made-in-Nigeria products internationally
The collaboration is expected to streamline trade facilitation and offer Nigerian SMEs the tools and support needed to thrive in international value chains.
Empowering SMEs for Global Competitiveness
Speaking at the signing ceremony, Abba Bello, Managing Director/CEO of NEXIM Bank, emphasized the significance of this partnership in preparing Nigerian SMEs to compete globally, particularly under the African Continental Free Trade Agreement (AfCFTA).
“This collaboration with SMEDAN is a critical step in our mission to empower Nigerian SMEs. By combining our financial instruments with SMEDAN’s development expertise, we are creating a robust support framework that enables small businesses to scale and succeed in export markets,” Bello said.
Removing Barriers and Unlocking Opportunities
On his part, Charles Odii, Director-General of SMEDAN, noted that the agreement will help eliminate major hurdles that have long hindered SMEs from tapping into international markets.
“Our goal is to ensure Nigerian SMEs have not just the skills but also the financial backing to grow. This MoU with NEXIM Bank paves the way for real participation in global trade,” Odii remarked.
He also outlined key focus areas of the collaboration:
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Providing export-oriented financing solutions
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Offering expert training and advisory services
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Simplifying export processes for MSMEs
🇳🇬 Aligning with Nigeria’s Economic Diversification Agenda
This partnership supports the federal government’s broader vision of economic diversification and inclusive growth, particularly through public-private partnerships that empower micro, small, and medium-sized enterprises (MSMEs).
About the Agencies
NEXIM Bank, established under Act 38 of 1991, is Nigeria’s official Export Credit Agency, providing financing, risk management, and advisory services to support the development of non-oil exports.
SMEDAN, created by the SMIDA Act of 2003, is the federal government’s leading institution tasked with fostering the growth, sustainability, and global competitiveness of MSMEs across Nigeria.
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