The recent spike in cooking gas prices is primarily attributed to factors such as vessel scarcity, fluctuations in foreign exchange rates, and soaring oil prices, according to Nigeria Liquefied Natural Gas Limited (NLNG). A market survey indicated that the price … Continue reading NLNG attributes high cooking gas prices to forex factors
The Federal Government has announced an increase in the prices of single-phase and three-phase prepaid electricity meters, effective from September 6, 2023. This decision has been met with resistance from power consumers who are already grappling with rising costs in … Continue reading Consumers express outrage over 40% increase in electricity meter prices
The Nigerian Electricity Regulatory Commission (NERC) has given its approval for an upward adjustment in the prices of prepaid electricity meters within the nation. According to a circular dated September 5, 2023, and signed by the Chairman, Sanusi Garba, and … Continue reading Nigerian government raises prices of prepaid electricity meters
Oil marketers have disclosed that the introduction of a 7.5 percent Value Added Tax (VAT) on Automotive Gas Oil (diesel) and the ongoing foreign exchange crisis in Nigeria have led to a significant increase in diesel prices. The cost of … Continue reading Diesel price hits N950 per litre
Strong indications suggest that the cost of petrol at the pump could be primed for a third increase in just 10 weeks, based on insights gathered from oil marketers. This potential hike may occur sooner rather than later, driven by … Continue reading Petrol prices likely to rise again as import costs increase
Nigeria’s oil production took a hit in July, dropping to 1.29 million barrels per day (bpd), as revealed by data from the Nigerian Upstream Petroleum Regulatory Commission. This decline of 12.56 percent from June’s 1.48 million bpd and 1.52 percent … Continue reading Nigeria’s oil production dips to 1.29mbpd as global prices rise
Recent data from the international market has shown a significant 20% increase in the price of petrol, raising concerns that prices may continue to rise. At the beginning of 2023, Brent crude was trading at approximately $78 per barrel, but … Continue reading Global petrol prices surge by 20%
The National Bureau of Statistics (NBS) has reported a decline in the average retail price of petrol in Nigeria. According to the NBS Petrol Price Watch released in Abuja, the average price per liter dropped from N264.29 in March to … Continue reading Nigeria’s petrol prices: Decline in April and year on year increase
AGS NEWS 