The Major Energy Marketers Association of Nigeria (MEMAN) has reported a marginal decrease in the landing cost of Premium Motor Spirit (PMS), signaling some stability in the downstream petroleum sector. According to MEMAN, the landing cost of PMS fell slightly to ₦970 per litre in December 2024, compared to ₦971 per litre in November. This … Read more
Nigerians are bracing for a steep increase in petrol prices following the Nigerian National Petroleum Company Limited’s (NNPC Ltd) decision to end its exclusive purchase agreement with Dangote Refinery, according to a report by Premium Times. The shift is expected to drive the cost of petrol to a minimum of ₦991.21 per litre from the … Read more
The Nigerian National Petroleum Company Limited (NNPC) is set to implement a new pricing regime for petrol after lifting approximately 103 million litres from Dangote Refinery between September 15 and 30, 2024, Premium Times reports. EDITOR’S PICKS Health, Planning Ministries Partner with AfDB on Sustainable System Project Shamim Ahmed: Student Ally of Bangladesh’s Ex-Prime Minister … Read more
The price of Brent crude oil has dropped below $70 per barrel for the first time since December 2021, raising concerns about a global economic slowdown. This steep decline in oil prices is expected to put additional pressure on the Nigerian naira, which has recently depreciated to N1,600 per US dollar. EKO HOT BLOG gathered … Read more
EKO HOT BLOG reports that fuel marketers have called on the Federal Government to provide transparency regarding its stance on fuel subsidy. They assert that the government has quietly resumed subsidizing Premium Motor Spirit (PMS), commonly known as petrol. They claim that this discreet return to fuel subsidy has prevented the price of petrol … Read more