The loading cost of Premium Motor Spirit (petrol) and other refined petroleum products at the depots increased on Monday. The PUNCH gathered that marketers raised petrol and diesel prices at depots by N43 or 4.74 per cent due to the rising crude oil prices. Earlier, the cost of Brent, the global benchmark for crude, reached $79.76 per barrel on Sunday. …

The Borno government has announced plans to subsidise fuel at N600 per litre to 5,000 farmers in communities hit by Boko Haram insurgents in the state. Governor Babagana Zulum announced this during the flag-off of the distribution of farm inputs to prospective farmers resettled by his administration in Bama and environs on Friday night. Bama was among the areas overrun …

The Nigeria Customs Service (NCS) has announced plans to auction 15,325 litres of seized Premium Motor Spirit (PMS), commonly known as petrol, at ₦400 per litre to help ease transportation challenges during the festive season. The National Coordinator of the service’s Operation Whirlwind, Hussein Ejibunu, made this announcement on Saturday during a press briefing at the Customs Training College in …

Less than a month after the Port Harcourt Refining Company appeared to have resumed production, the facility has stopped working. According to Saturday PUNCH, who visited the refinery on Thursday, 19 December 2024, observed that the lifting of Premium Motor Spirit (petrol) had stopped. Saturday PUNCH gathered that the lifting of petrol actually stopped last Friday, 13 December, as the …

In a sign of stability in the downstream sector, the Major Energy Marketers Association of Nigeria (MEMAN), has said that the landing cost of Premium Motor Spirit (PMS), also known as petrol declined marginally to N970 in December 2024, from N971 per litre in November 2024. This comes against the backdrop of a similar drop in the crude oil price …

In what border operations analysts have described as clinical engagements aimed at ending the protracted smuggling activities, the Nigeria Customs Service (NCS) disclosed it has generated over N500 million from petroleum smugglers across the country. Arewa PUNCH investigations revealed that the newly inaugurated customs special task force team called “Operation Whirlwind” generated the said amount following sting operations carried out …

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has begun lifting Premium Motor Spirit (petrol) from the Dangote Petroleum Refinery, according to The PUNCH. This follows an agreement reached with the refinery last month by IPMAN. It was learned that IPMAN members have so far lifted millions of litres of petrol from the Dangote refinery located in the Lekki free …

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has secured an agreement with Dangote Petroleum Refinery to lift products directly. This, according to the association, will ensure the availability of petroleum to Nigerians at a cheaper rate. IPMAN’s National President, Abubakar Garima, announced this at a press briefing on Monday in Abuja, following a meeting of the National Working Committee …

The estimated cost of landing Premium Motor Spirit, commonly known as petrol, on Nigeria’s shores has seen a considerable reduction of 20.34 per cent, dropping to N971.57 per litre over the past three months. This decline in landing cost, which reflects the price of importing and distributing the product, indicates some relief in terms of global market fluctuations and supply …

Three oil marketers – AYM Shafa Limited, A. A. Rano Limited, and Matrix Petroleum Services Limited – have asked the Federal High Court in Abuja to dismiss a suit filed by Dangote Petroleum Refinery and Petrochemicals. The marketers, in a joint counter affidavit marked: FHC/ABJ/CS/1324/2024, and dated 5 November 2024, a response to an originating summon filed by Dangote Petroleum …