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
Crude oil refiners and Operators in Nigeria’s downstream sector have pointed to dollar-denominated charges on locally refined petrol as a major factor behind the higher cost of locally produced fuel compared to imported Premium Motor Spirit (PMS). Data from the Major Energies Marketers Association of Nigeria (MOMAN) revealed that as of December 5, 2024, the … Read more
The Dangote Petroleum Refinery and the Petroleum Products Retail Outlets Owners Association (PETROAN) are in ongoing discussions to finalise the details for lifting petroleum products from the refinery. EKO HOT BLOG reports that on Monday, Dr. Billy Gillis-Harry, the National President of PETROAN, led the association in negotiations with Dangote Refinery in Lagos. The talks … Read more
The Nigerian National Petroleum Company Limited (NNPCL) and major oil marketers are engaged in discussions aimed at eliminating petrol importation by increasing reliance on the Dangote Refinery. The meeting, held at the NNPCL Towers in Abuja and chaired by NNPCL Group CEO Mele Kyari alongside the Nigerian Midstream and Downstream Petroleum Regulatory Authority, included representatives … Read more
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has accused Dangote Refinery of trying to stifle competition in the downstream sector. This allegation follows Dangote Refinery’s claims that marketers were criticizing its petrol pricing in an effort to import cheaper, potentially lower-quality products. On Sunday, Dangote Refinery announced that it sells petrol at … Read more
Oil Marketers Deny Petrol Price Drop Amidst Market Stability Associations maintain stance: PETROAN and IPMAN reaffirm no changes, while MEMAN emphasizes stable pricing through depot ownership. Speculation lingers on direct sourcing: Rumors suggest price shifts from independent sourcing, contrasting MEMAN’s distribution model. EKO HOT BLOG reports that oil marketers and other operators in the downstream sector … Read more
EKO HOT BLOG reports that Chairman, House of Representatives Committee on Petroleum Resources (Downstream), Ikeagwuonu Ugochinyere, has vowed on behalf of the committee to conduct a comprehensive audit of the petrol subsidy regime. Speaking at the inaugural meeting of the committee in Abuja on Friday, Ugochinyere said the implementation of the Petroleum Industry Act would … Read more