Oil marketers disclosed on Friday that the Dangote Petroleum Refinery’s price for Premium Motor Spirit (PMS), commonly known as petrol, is between N1,015 and N1,028 per liter, depending on purchase volume. In response, marketers announced plans to import petrol and sell it at a lower price than both the Dangote Refinery and the Nigerian National … Read more
The Independent Petroleum Marketers Association of Nigeria, IPMAN, says the price of fuel from Dangote Refinery, as of last week, was higher than in other places. IPMAN said members must go where the price is lower and where they get profit, adding that they have to pity Nigerians. EDITOR’S PICKS BBNaija: It Was All Part … Read more
The conflict between Dangote Refinery and Nigerian petroleum marketers has escalated, with Dangote Group President Aliko Dangote suggesting that marketers have shown little interest in purchasing from his refinery. The dispute, which initially surfaced in September amid the distribution of premium motor spirit (PMS), involves the Dangote Refinery, Nigerian National Petroleum Company Limited (NNPCL), and … Read more
The Independent Petroleum Marketers Association of Nigeria, IPMAN, said that its members could not load petrol from the Dangote Refinery in Lagos despite having paid N40bn to the Nigerian National Petroleum Company Limited, NNPCL. EDITOR’S PICKS ‘I Feel Sorry For Joshua’ After Knockout Loss To Dubois – Fury EPL: What We’re Lacking Is Luck – … Read more
Aliko Dangote, President of Dangote Refinery, has assured that fuel queues across Nigeria will disappear once oil marketers start sourcing fuel from his refinery. Speaking to State House Correspondents after a meeting with President Bola Ahmed Tinubu, Dangote stated that his refinery holds the solution to the country’s persistent fuel queues. He urged the Nigerian … Read more
President Bola Ahmed Tinubu convened with the implementation committee for crude oil and refined products sales in local currency to evaluate the progress of using the naira for crude sales to local refineries. The committee, led by Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, held a strategic review meeting at … Read more
The National Petroleum Authority of Ghana (NPAG) has announced plans to import refined petroleum from Nigeria’s Dangote Refinery to bolster energy security and strengthen regional cooperation. Speaking at the 2024 OTL Africa Downstream Energy Week in Lagos, Dr. Mustapha Abdul-Hamid, CEO of NPAG, said this collaboration would reduce Ghana’s dependence on higher-cost imports from Rotterdam, … Read more
Approximately 42.3 million litres of imported Premium Motor Spirit (PMS), or petrol, are expected to arrive in Nigeria next week, oil marketers announced on Friday, emphasizing the ongoing need for imports due to insufficient domestic production. Industry dealers noted that while local refining efforts from modular refineries and the Dangote Petroleum Refinery are underway, they … Read more
The Dangote Petroleum Refinery has received four cargoes of crude oil from the Nigerian National Petroleum Company Limited (NNPCL) under a naira-for-crude agreement, according to both refinery officials and the Federal Government. These deliveries, made over the past three weeks, are part of a larger initiative where NNPCL supplies crude to local refineries in exchange … Read more
Dangote Refinery has clarified reports regarding a court case filed against the Nigerian National Petroleum Corporation Limited (NNPCL) and five other companies over the importation of petroleum products. The five other companies involved are Aym Shafa Limited, A. A. Rano Limited, T. Time Petroleum Limited, 2015 Petroleum Limited, and Matrix Petroleum Services Limited. EDITOR’S PICKS … Read more
The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, has reassured Nigerians that discussions with Dangote Refinery for direct petrol loading are progressing and will soon be finalized. Speaking during the inauguration of a task force to combat oil bunkering and pipeline vandalism in Abuja on Wednesday, Maigandi expressed confidence … Read more
The Minister of Power, Adebayo Adelabu, has stated that many Nigerians have stopped complaining about the high cost of petrol because they are no longer solely reliant on generators for electricity. Speaking during his keynote address at the 2024 Nigeria Energy Exhibition and Conference in Lagos, Adelabu addressed the theme, “Breaking Barriers in the New … Read more
The Nigerian National Petroleum Company Limited (NNPCL) remains the sole off-taker of Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Petroleum Refinery, despite the Federal Government’s recent directive allowing independent oil marketers to begin lifting petrol from the facility. EDITOR’S PICKS ICYMI: Nigerian TikToker, Oloba Salo Reportedly Shot in Lekki, Don’t Scrap … Read more
The Nigerian National Petroleum Company Limited (NNPC) has agreed to sell Premium Motor Spirit (PMS), commonly known as petrol, to the Independent Petroleum Marketers Association of Nigeria (IPMAN) at a rate of N995 per litre. This follows the intervention of the Department of State Services (DSS) in resolving the conflict between both parties. EDITOR’S PICKS … Read more
The Independent Petroleum Marketers Association of Nigeria (IPMAN) is set to engage in talks with Dangote Petroleum Refinery from Tuesday to Wednesday to finalise agreements on the pricing and lifting of petrol from the facility. According to reports on Sunday, the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) had been asked by the $20 … Read more
The Department of State Services (DSS) has brokered peace between the Nigerian National Petroleum Company Limited (NNPCL) and independent petroleum marketers, resolving a dispute over Premium Motor Spirit (PMS) pricing and supply. EDITOR’S PICKS ICYMI: Nigerian TikToker, Oloba Salo Reportedly Shot in Lekki, Don’t Scrap the EFCC, Fix It, Fintiri Slams Calls For Abolition AFCON … Read more
The Federal Government has officially granted petroleum marketers the authority to lift petrol directly from the Dangote refinery, effectively bypassing the Nigerian National Petroleum Company Limited (NNPC) and ending its monopoly as the sole distributor of Dangote’s refined fuel. EDITOR’S PICKS Health, Planning Ministries Partner with AfDB on Sustainable System Project Shamim Ahmed: Student Ally … Read more
The Trade Union Congress (TUC) has called on the Federal Government to reduce petrol prices, urging them to lower costs even below June 2023 levels. TUC President Festus Osifo made this appeal during a press briefing in Abuja on Thursday. “We demand that the price be brought down, not just to what it was before, … Read more
Petroleum marketers have confirmed that the recent fuel price hike by the Nigerian National Petroleum Company Limited (NNPCL) is a direct result of the complete removal of subsidies on Premium Motor Spirit (petrol). The NNPCL has now raised pump prices to ₦1,030 per litre in Abuja and ₦998 per litre in Lagos. EDITOR’S PICKS Health, … 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