Chairman of Dangote Group, Aliko Dangote, said yesterday the price of petrol from his refinery would be determined by the Federal Executive Council (FEC). Dangote, who disclosed this at a briefing in Lagos, said: “On pricing, it is an arrangement which is designed and approved by the Federal Executive Council, led by His President Bola Ahmed Tinubu. “As soon as …

The Lagos State Task Force on Environment and Special Offences said it has arrested six persons, including two women, over alleged illegal sales of petroleum products by the roadside. The spokesperson for the agency, Mr Gbadeyan Abdulraheem, confirmed this on Tuesday in a statement. Abdulraheem said that the task force conducted a sweeping operation on illegal sales of fuel at …

The long-awaited petrol from Dangote Refinery is expected to come on stream this week, a development that is a major milestone in Nigeria’s energy sector. According to two people who know the matter, the Dangote facility near the commercial hub of Lagos is on the verge of refining large amounts of petrol expected to hit the market this week. The …

The Dangote Petroleum Refinery is set to roll out the sale of Premium Motor Spirit (PMS), otherwise known as petrol, according to The PUNCH. This is coming a few days after the 650,000-capacity refinery engaged in a test-run of the product. Industry sources confirmed to The PUNCH that the product would hit the market soon. The sources, who pleaded anonymity, …

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 …

Dangote Petroleum Refinery and Petrochemicals is set to begin production of premium motor spirit (PMS) popularly called petrol. Dangote Industries Limited’s Vice President for Oil & Gas, Mr. Devakumar Edwin, announced this during the tour of the refinery complex by the League of Engineering Bodies, including the National Society of Engineers (NSE), the Nigerian Academy of Engineering (NAE), the Association …

Many tankers are currently at various depots in Lagos waiting to load Premium Motor Spirit (PMS), popularly called petrol, for onward delivery to states across the country as the scarcity of PMS worsens. It was gathered on Monday that though some of the trucks had started loading, the supply of the product by the Nigerian National Petroleum Company Limited (NNPCL) …

The Federal Operations Unit, Zone D of the Nigeria Customs Service (NCS) said it intercepted 17,580 litres of Premium Motor Spirit (PMS) valued at N12.7 million between 19 April and 19 May 2024. The petroleum products were seized at Mubi and Yola axis in Adamawa State. Controller of the Unit, Comptroller Odaudu Salefu, disclosed this on Monday at a press …

Oil marketers are gearing up to load refined petroleum products from the Port Harcourt Refining Company (PHRC), as workers at the facility race to get it set for production on the directives of the Nigerian National Petroleum Company Limited (NNPCL). Dealers confirmed on Friday that the PHRC was almost set to start releasing products, projecting a N500/litre price for Premium …

President Bola Tinubu has explained why he removed subsidy on petrol. According to President Tinubu, it was a challenging decision to make, but necessary to ensure a transparent energy sector. The President stated this while speaking at the opening of the 2024 Nigeria International Energy Summit (NIES) in Abuja. He was represented by his Minister of Information and National Orientation, …