The federal government has officially announced the termination of fuel and foreign exchange subsidies, marking the end of a long-debated policy. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this declaration during the presentation of the Nigeria Development Update by the World Bank in Abuja today, Thursday, Oc...
•Dangote Refinery The federal government has granted permission to petroleum marketers to lift petrol directly from the Dangote refinery without going through the Nigerian National Petroleum Company Limited. This confirms the speculation that the NNPC will no longer be the sole off-taker of the Dangote fuel. In a statement today, the Minister ...
Some traders and commuters in the Federal Capital Territory (FCT) have frowned at the increase in the pump price of Premium Motor Spirit (PMS) by the NNPC Ltd. The NNPC Ltd Retail Management approved the upward review of PMS pump price from N617 per litre to N897 per litre effective from today, Tuesday, September 3, […]
•Minister of Finance and Coordinating Minister of the Economy, Wale Edun The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has revealed that the country currently spends $600 million on fuel importation monthly. He stated that the high import bill is due to neighbouring countries, up to Central Africa, benefiting fro...
•Fuel queues The queues at filling stations for Premium Motor Spirit, popularly called petrol, may subside this week as PMS loading has resumed in Lagos depots. Our correspondent reported on Saturday that the depot owners decided not to open for business because of the hunger protest that started on Thursday. Truck owners and drivers were [&he...
•House of Representatives The House of Representatives has dissolved the current ad-hoc Joint Downstream and Midstream Committee investigating the importation of adulterated petroleum products, the non-availability of crude oil for domestic refineries, and other energy security issues. A statement by the House Spokesman, Rep. Akin Rotimi said ...
•Fuel scarcity Some experts in the oil and gas sector have said Nigeria was not ripe to stop the importation of refined petroleum products, asking the Nigerian Midstream and Downstream Petroleum Regulatory Authority not to bow to pressure. The experts stated this in the wake of allegations by the NMDPRA Chief Executive, Farouk Ahmed, that [&he...
•Fuel queue in a petrol station Many depots for Premium Motor Spirit, popularly called petrol, are currently dry, leading to fuel scarcity and attendant queues in Lagos, Ogun, parts of Abuja, Niger, and some other states across the country. Black marketers have taken advantage of the situation, selling as high as N1,300 per litre and […...
•Dangote refinery Some local refinery operators have lamented that the announcement made by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, stating that the federal government would continue to import fuel, shows that the government had taken sides against local refineries. The operators, under the aegis of the Crude Oil ...
The national average retail price for Premium Motor Spirit otherwise known as petrol increased year-on-year, YoY, by 37.44 percent to N750.17 per litre in June 2024 from N545.83 per litre recorded in the corresponding period of 2023. On a month-on-month, MoM basis, the average retail price decreased by 2.53 per cent from N769.62 per litre [&he...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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