The Federal Government on Wednesday disclosed that Nigeria’s petrol consumption has dropped to 50 million litres per day with local refineries supplying half of the daily requirements. The government said the other half is being sourced through importation. It clarified that none of the companies involved in domestic refining was involved in the importation. Speaking to journalists after a stakeholders …

Oil marketers have revealed that the landing cost of Premium Motor Spirit (petrol) as of Friday was N922.65 per litre. Dealers said this cost factors in various expenses including shipping, import duties, and exchange rates. The amount is a considerable reduction of N32.35 from the N955 per litre offered at the loading gantry of the Dangote Petroleum Refinery. This decrease …

It has been flying all around social media, and at a point, I got confused about what people were celebrating bandying the drop in the volume of fuel Nigerians consumed each day. While many of the people sharing this were “using style” to praise the Tinubu administration for using subsidy removal to reveal the fraud in the system, there were …

No fewer than four vessels carrying imported Premium Motor Spirit (PMS), popularly called petrol, arrived at seaports situated along the nation’s borders between Friday, 18 October, and Sunday, 20 October, according to The PUNCH findings. According to a document obtained from the Nigerian Port Authority (NPA) on Sunday, about 123.4 million litres of PMS were berthed at two seaports to …

NNPC Limited (NNPCL) has agreed to permit oil marketers, who operate under the auspices of the Independent Petroleum Marketers Association of Nigeria (IPMAN), to commence the lifting of Premium Motor Spirit (petrol) from its depot at a lower price. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has also committed to issuing import and off-taker licenses to the oil …

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said that the Nigerian National Petroleum Company Limited (NNPCL) has not usurped its powers in determining the price of petrol in the country. The Chief Executive Officer of NMDPRA, Engr. Farouk Ahmed, spoke in the wake of insinuations that the NNPCL had taken over one of the agency’s key functions. …

The Federal Government has issued a licence to construct (LCT) Nigeria’s pioneering floating liquefied natural gas (FLNG) facility to UTM FLNG Limited. This marks a giant leap in the country’s energy sector. The issuance of the LTC by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) last Friday was part of a major fulfillment of President Bola Ahmed Tinubu’s …

Many filling stations operated by independent oil marketers have now fixed the pump prices of Premium Motor Spirit (PMS), popularly called petrol, at between N900 and N1,000/litre. Owners of these stations seem not to care about the cost of the product at retail outlets operated by the Nigerian National Petroleum Company Limited (NNPCL). Petrol prices at NNPC stations range from …

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has warned filling stations against selling premium motor spirit (PMS), also known as petrol, to black marketers. In a post on X on Thursday, NMDPRA said failure to comply would result in suspension of licences. “NMDPRA embarks on a war against the illegal sale of petroleum products, especially PMS, in jerrycans. …

The Federal Government, on Tuesday, announced that it was set to issue a fully valid operating licence to the 650,000 barrels per day capacity Dangote Petroleum Refinery. It announced this at the Stakeholders’ Consultation Forum on Midstream and Petroleum Host Community Development Trust Regulations organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Abuja. The NMDPRA, an agency …