By Seun Ibiyemi The average retail price of Premium Motor Spirit (PMS), commonly known as petrol, declined by 15.60 per cent year-on-year to ₦1,051.47 in February 2026, according to the latest Price Watch report. The report, released for February 2026, showed that the average price paid by consumers dropped from ₦1,245.80 recorded in February 2025….
By Seun Ibiyemi The Major Energy Marketers Association of Nigeria (MEMAN) has explained why petrol prices in Nigeria tend to rise quickly but decline more slowly, citing cost recovery pressures, inventory dynamics and global market volatility as key factors. Speaking during a MEMAN webinar on Tuesday, the association’s Chairman, Hubb Stokman, said the trend reflects…
By Seun Ibiyemi The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised concerns over the worsening state of its members’ businesses, following a sharp increase in petrol pump prices driven by escalating tensions in the Middle East. Marketers say the rising cost of Premium Motor Spirit (PMS) has significantly increased their operating expenses, while…
