Recently, Olufemi Soneye, the Chief Corporate Communications Officer of the NNPC Limited, utilised his “right-of-reply” privilege to debunk the assertions made by Dr. Muiz Banire, a Senior Advocate of Nigeria (SAN), when he described NNPCL as the “black hole of Nigeria” in his opinion piece. To the best of my knowledge, Banire is not the only person who is concerned …

The Dangote Petroleum Refinery has said that only three  percent of local oil marketers are purchasing refined petroleum products. During an X space organised by Nairametrics on Thursday, Vice President of Dangote Industries Limited (DIL), Mr. Devakumar Edwin said that, due to the low patronage, the refinery is forced to export 97 per cent of its refined products. Edwin alleged: “The …

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that the price of Premium Motor Spirit (PMS, popularly known as petrol or fuel) will determine if it will buy from NNPC Limited (NNPCL) or Dangote Petroleum Refinery. According to its National Publicity Secretary, Mr. Ukadike Chinedu, the association is prepared to buy from either Dangote or NNPCL depending on …

Traders and commuters in Kano metropolis have expressed worry over the recent hike in the pump price of Premium Motor Spirit (PMS). The News Agency of Nigeria (NAN) reports that NNPCL Retail Management had on Tuesday approved an upward review of the pump price from N617 per litre to N897 litre, effective from 3 September This is amid economic hardship …

The Nigerian Bar Association, NBA, has demanded for an immediate reversal of the recent fuel price increase saying that the development if allowed to stand, will further deepen the poverty and hardship experienced by the citizens. The association in a statement by its president, Mazi Afam Osigwe noted that the significant and abrupt fuel price hike has imposed an unbearable …

The landing cost of Premium Motor Spirit (also known as petrol) was N1,117/litre as of Tuesday, according to the Major Energies Marketers Association of Nigeria (MEMAN). During a webinar with journalists on Wednesday, MEMAN revealed that the landing cost of diesel was N1,157/litre, while that of aviation fuel was N1,127/litre. The N1,117 landing cost of petrol is far above the pump …

The coming on stream of Port Harcourt and Dangote refineries may only lead to marginal reduction in the cost of petroleum products and not a significant price crash, some oil and gas experts have said. According to the experts, who spoke to newsmen on Sunday in Abuja, ancillary costs such as freight and port charges, among others would have been …

As the Nigerian National Petroleum Company Limited (NNPCL) hands-off the monopoly of petrol importation, petroleum marketers have demanded immediate release of their outstanding supplies of Premium Motor Sprit otherwise known as petrol worth N30.96 trillion by the National oil company. At the Suleja/Abuja Secretariat of the Independent Petroleum Marketers Association of Nigeria (IPMAN), the marketers commended the Federal Government for …

Bauchi State Governor, Senator Bala Mohammed has appealed to Nigerians to exercise patience in the wake of the withdrawal of subsidy on Premium Motor Spirit (popularly known as petrol) by President Bola Tinubu. He expressed optimism that the situation would improve in the country in due time. According to him, understanding and cooperation from all Nigerians are necessary at this …

NNPC Limited has released a new ex-depot price of N479.50 per litre of Premium Motor Spirit (PMS) petrol to the marketers. Marketers are believed not to be against the subsidy removal but are worried that the NNPCL is giving them the product paid for at the old rate since eight months ago for the new rates. They are said to …