The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged Dangote Refinery to consider reducing its ex-depot price from N970 per litre since the estimated cost of landing petrol on Nigeria’s shores has dropped to N900.28 per litre. Last 29 July, the Federal Executive Council (FEC) endorsed President Bola Tinubu’s proposal for the sale of crude to local refineries in …

Crude oil refiners and other players in the downstream sector have stated that the dollar charges on locally refined Premium Motor Spirit (PMS), popularly called petrol, coupled with the cost of importing crude are major reasons for the high cost of the product when compared to imported PMS. Data obtained from the Major Energies Marketers Association of Nigeria on Tuesday …

The Dangote Petroleum Refinery says it has reduced the price of its Premium Motor Spirit from N990 per litre to N970/litre. It was reported that this is the amount marketers would buy the product from the refinery. In a statement released on Sunday, the Group Chief Branding and Communications Officer of the Dangote Group, Anthony Chiejina, said the reduction was …

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that over 30,000 of its members are set to buy Premium Motor Spirit (PMS), popularly called petrol, from the Dangote Petroleum Refinery in bulk. IPMAN also said that the price of petrol from the $20 billion Lekki-based plant was N940/litre and N990/litre when purchased using ships and trucks, respectively. The …

NNPC Limited (NNPCL) has stated that its Group Chief Executive Officer (GCEO), Mallam Mele Kyari is not responsible for the hike in the prices of the Premium Motor Spirit (PMS), popularly known as petrol. On Tuesday, some protesters stormed Abuja headquarters of the oil giant, demanding Kyari’s resignation over the increase in the prices of petrol nationwide. Reacting to the …

This was tough to write. My heart resisted it, but I yielded to my head. The petrol in my car, a 2.0-litre 2012 Tokunbo Camry, was at half-tank the day before writing. When pump prices went from 195/litre to 617/litre between May and June 2023, I parked my Jeep and, despite being occasionally mistaken for an Uber driver, opted for the …

NNPC Limited (NNPCL) is being unfair to Nigerians. Despite the fact that Nigeria is now refining fuel locally from its own crude oil, NNPCL continues to calculate fuel prices based on outdated metrics such as landing costs. This practice raises concerns, as there are no longer any costs associated with fuel importation, shipping, or landing fees. With locally sourced crude …

The landing cost of Premium Motor Spirit (PMS) (popularly called petrol), has dropped from about N1,130 last week to N981 per litre, according to data released on Thursday by the Major Energies Marketers Association of Nigeria. The petrol landing cost came down by over N140 as of 25 September 2024, occasioned the recent drop in global crude oil prices. Crude …

The Nigeria Labour Congress said on Thursday that President Bola Tinubu betrayed organised labour, using the price of Premium Motor Spirit, commonly called petrol, as bait. The organised labour stated that at the negotiation which informed the acceptance of N70,000 by the organised labour, President Tinubu offered the option not to increase the petrol price. NLC President, Joe Ajaero, said …

It is a terrible thing when a man’s expectations are cut off. Proverbs 23: 18 says: “For surely there is an end; and thine expectation shall not be cut off” (King James version). Proverbs 24: 14 also says: “So shall the knowledge of wisdom be to thy soul: when thou hast found it, then there shall be a reward, and …