The Nigerian downstream petroleum sector is witnessing heightened competition as the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery have both slashed the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦899 per litre. EDITOR’S PICKS Sanwo-Olu Donates N75M to Support Legionnaires and Families of Fallen Heroes Current Cement Prices: … Read more
NNPCL reduced petrol’s ex-depot price from ₦1,020 to ₦899 per litre. PETROAN praised the move, highlighting affordability and market competition benefits. Quality concerns emerged as stakeholders urged stricter regulatory enforcement. The Nigerian National Petroleum Company Limited (NNPCL) has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦1,020 to ₦899 … Read more
The Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have finalized an agreement for the weekly supply of 60 million litres of Premium Motor Spirit (PMS). This deal coincides with a marginal reduction in fuel prices at IPMAN member filling stations nationwide, according to the association’s spokesperson, Chinedu Ukadike, who provided an … 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 Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that the full deregulation of petrol pricing and the withdrawal of NNPC Limited as the sole off-taker from the Dangote Refinery grant marketers the freedom to source petrol from various suppliers, including imports. This statement follows NNPC’s recent increase of petrol prices by 15%, bringing … 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
The landing cost of Premium Motor Spirit (PMS), commonly known as petrol, has significantly decreased to N981 per litre, as reported by the Major Energies Marketers Association of Nigeria (MEMAN) on Thursday. This reduction marks a substantial drop from the previous price of around N1,130 per litre observed in recent weeks, reflecting a decline of … Read more
As Nigerians anticipate the release of Premium Motor Spirit (PMS) from the $20bn Dangote Petroleum Refinery, the Nigerian National Petroleum Company Limited (NNPCL) has announced it will begin lifting the product from the refinery on September 15, with prices influenced by foreign exchange rates and market forces due to the deregulated market. EDITOR’S PICKS Police … 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