•Dangote refinery Experts believe that prices of petrol and diesel may not crash significantly despite the commencement of production at the Dangote Petroleum Refinery. With the removal of subsidy on petrol in May 2023, the price per litre of petrol jumped from around N184 to over N600 depending on the location. Diesel also sells for […...
The average price of Premium Motor Spirit (PMS), also known as petrol, shot up by 223.21 per cent to approximately ₦770 per litre in May 2024 from ₦238.11 per litre recorded in the corresponding period of 2023, according to data from the National Bureau of Statistics (NBS). The statistics bureau disclosed this in its report, […]
The Independent Petroleum Marketers Association of Nigeria (IPMAN), has threatened to cripple the supply of Premium Motor Spirit (PMS), also known as petrol, over non-payment of ₦200bn bridging claims. The threat comes following current nationwide scarcity which has seen prices of Premium Motor Spirit (PMS), also known as petrol, surge to betw...
•Petrol scarcity Acute shortage of petrol in Lagos, Abuja and other parts of the country has begun crippling economic activities across the country. Tongues are wagging as to how the horror has persisted for close to two weeks and has defied solutions currently being administered by the government, reports Daily Sun. The price of the […...
•Petrol scarcity Motorists in Lagos are currently contending with acute shortage of Premium Motor Spirit (PMS), popularly called petrol over what industry observers described as massive drop in import level. Their counterparts in Abuja and many parts of the north are currently agonising as they now sleep at filling stations to get the vital pr...
•Fuel queue Petrol queues resurfaced at filling stations across the nation’s capital, Abuja, and the surrounding states as several outlets ran out of stock despite the high pump price of N680 per litre. Checks around the city showed chaotic scenes across the few stations operated by major marketers dispensing to motorists in the city centre [&...
•Dangote As the Nigerian National Petroleum Company, NNPC Limited, moves to end petrol scarcity in Lagos and its environs, Dangote Refinery and oil marketers have intensified efforts at taking final decisions on pricing and delivery of petrol to filling stations nationwide. Dangote Refinery, which can refine 650,000 barrels per day, bpd of cru...
There are indications that the federal government through the Nigerian National Petroleum Company Limited (NNPC Ltd) is now spending N17.72 billion daily to fund subsidy on petrol. Though still shrouded in secrecy, the funding strategy, it was learnt, is consummated by way of crude sales and direct cost recovery by NNPC, reports Vanguard. An e...
•Petrol scarcity Long queues resurfaced today, Monday, February 19, at Premium Motor Spirit (PMS) petrol stations in the Federal Capital Territory (FCT) as the Nigerian Association of Road Transport Owners (NARTO) halted tanker operations, citing unsustainable high costs. The association has notified the federal government and Major Energy Mar...
Mixed reactions have trailed the confirmation by the International Monetary Fund (IMF) that the federal government has resumed the payment of subsidies on the premium motor spirit (PMS), otherwise known as petrol through the backdoor. Recall that during his inauguration on May 29, 2023, President Bola Tinubu announced an end to petrol subsidy,...
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