petrol

The President of the Senate, Bukola Saraki, has alleged a massive fraud in the nation’s oil sector under the President Muhammadu Buhari’s administration. He alleged that the Federal Government’s claims of paying subsidy on 50 million litre of fuel being consumed by Nigerians daily were a big...

A truck reportedly conveying kegs of petrol was gutted by fire at the early hours of Friday at Allen Junction, Ikeja, Lagos. Though the vehicle was completely burnt in the inferno, it was gathered that nobody died in the incident. According to eyewitnesses, the fire was triggered … Read more...

The Nigerian National Petroleum Corporation (NNPC) has raised an alarm over an issue affecting its operations – The activities of some cross-border fuel smuggling syndicates and hoarders is said to be impeding efforts by the NNPC to effectively supply fuel … via Nigeria News today &...

The Nigerian National Petroleum Corporation (NNPC) has resumed petrol supply to major reception facilities in Lagos just as queues which resurfaced in the state at the weekend continues to grow, pushing cost of services especially transportation fares up. Confirming this in an interview with...

The Minister of State For Petroleum Resources, Ibe Kachikwu, on Thursday said the Nigerian National Petroleum Corporation, NNPC, has incurred a cumulative loss of N85.5 billion in importing petrol and selling at the current retail price of N145 per litre. Kachikwu said the price was fixed in the...

A report by Premium Times has it that Nigeria lost over $723 million (about N221.5 billion, at N306.3 to $1) through the Offshore Processing Arrangement, OPA adopted by the Federal Government in 2015 to supply refined petroleum products in the country, the latest Nigeria Extractive Industries...

According to Punch, the Department of Petroleum Resources, has sealed over 62 petrol stations across the country. The petrol stations were shut down due to varying acts of malpractices, including selling the Premium Motor Spirit, otherwise known as petrol, far above the N145 official price...

The federal government has announced that it will not reduce the pump price of petrol following a recommendation from the House of Reps that the commodity shouldn't cost more than N70 per litre. The PPPRA on Thursday held a meeting to discuss the issue. Read: Nigeria: FG May Adjust Pump...

Board members of the Petroleum Products Pricing Agency (PPPRA) are to meet on Thursday to consider a review of the pricing template of petrol. Mr Gbenga Osinowo Director-General Nigerian Employers Consultative Association (NECA) and a PPPRA board member confirmed the meeting as well as the...

Socio-economic activities in Kano, Kano state capital have been partially paralyzed, following a scarcity and subsequent increase in the pump price of petrol. According to the News Agency of Nigeria, some marketers have increased petrol price from the official N145 per litre to between N153...

Mr. Mele Kyari, NNPC Group General Manager, Crude Oil Marketing Department, has stated that Nigeria's current economic conditions have made it impossible to sell petrol at N145 per litre. “We have a very difficult business environment. It is impossible today to import products at the current...

The National Bureau of Statistics, NBS, has released a report which shows that the pump price of petrol has risen above N145 per litre in several areas in 17 states of the federation. The average pump price of petrol in Nigeria in August was N147.2 per litre, the NBS said. It ranged from...

Swiss refining firms have turned Nigeria and several other West African countries into dumping ground for dirty fuel products, a watchdog, Public Eye has affirmed. The sulfur levels in the "dirty fuels" are far higher than those allowed in Europe, and are causing health and environmental...

The importance of petrol in Nigeria can never be over emphasized. The commodity plays a major role in day-to-day life in Africa's most populous nation. Every Nigerian is affected in one way or the other by this commodity, which let’s face it, is barely produced in Nigeria. As it is, petrol...

Oil marketers in the country are groaning and complaining about the dollar scarcity in the forex market which they say is impacting their operations negatively. According to them, the pump price of petrol should be increased to about N151.78 per litre to accommodate the expensive dollar they...

Nigeria's oil marketers are set to increase the pump price of petrol following continued scarcity of dollars for importation of the commodity, Punch reports. Government had stipulated that petrol be sold at no more than N145 per litre, but harsh conditions are making the marketers to...

The pump price of petrol has fallen below N145 per litre in some areas in Lagos state, a survey by the News Agency of Nigeria says. Some fuel stations in the state were selling at reduced rates of between N137 and N143 per liter on Friday, mostly in areas where independent oil marketers sell...

According to the group chief executive of Forte Oil Plc, Mr Akin Akinfemiwa, the sale of petrol in Nigeria has reduced drastically following the increase in petrol pump price to N145 per litre. He said there's a 40% drop in demand of petrol by Nigerians. “If you may agree with me, there has...

The Nigerian National Petroleum Corporation said 1,194 trucks of petrol were loaded nationwide on Tuesday. This is contained in the corporation’s Premium Motor Spirit (PMS) daily supply nationwide schedule released in Abuja. According to the statement, twenty one import vessels laden with a...

The Federal Government has finally approved a new price regime for the Premium Motor Spirit (PMS), known as petrol. According to a new regulatory framework released by the Petroleum Products Pricing Agency (PPPRA) in Abuja, yesterday, there will no longer be a uniform price for petroleum...