As the world prepares to welcome the New Year, various stakeholders in Nigeria, including those from the manufacturing, academic, security sectors, local government unions, and the Ijaw National Congress, have called on President Bola Tinubu to take steps toward improving the economy in 2025. While acknowledging the challenges of 2024, which they described as “tough” … Read more
The Nigerian National Petroleum Commission (NNPC) has attributed the delay in the much-anticipated take-off of the Port Harcourt Refinery to unforeseen challenges encountered during its rehabilitation, describing the project as a complex brownfield operation. EKO HOT BLOG reports that speaking on Monday, NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, stated that the company had achieved … Read more
The Poultry Association of Nigeria (PAN) has issued a warning, predicting a potential surge in the cost of eggs, possibly reaching ₦10,000 per crate, should measures not be taken to mitigate the escalating fuel prices across the country. EDITOR’S PICKS ICYMI: Nigerian TikToker, Oloba Salo Reportedly Shot in Lekki, Don’t Scrap the EFCC, Fix It, … 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
Experts in the petroleum industry have proposed that with effective government intervention, petrol from the Dangote Refinery could be sold for less than ₦600 per litre. The Crude Oil Refiners Association of Nigeria (CORAN) expressed optimism that local refineries, including Dangote’s, could reduce fuel costs if proper measures are implemented. EDITOR’S PICKS Police Arrest Man … Read more
The Nigerian National Petroleum Company Limited (NNPCL) has announced that petrol supplied by the Dangote Refinery will be sold at different prices across the country, with northern regions facing the highest rates. In a Monday statement titled “NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing,” NNPC spokesperson … Read more
The Federal Government has initiated the free conversion of petrol-powered commercial vehicles to run on Compressed Natural Gas (CNG) in Ibadan, Oyo State, and Zaria, Kaduna State. In Ibadan, around 100 commercial vehicles were converted to CNG at three locations: Mobil filling station on the Ibadan-Lagos expressway, Automation Auto Gas in Podo Industrial Village, and … Read more
A senior official from the Independent Petroleum Marketers Association of Nigeria (IPMAN) has responded to reports that the Dangote Refinery will sell petrol to the Nigerian National Petroleum Company (NNPC) at ₦766 per litre. The official, speaking anonymously, explained that while the base price of ₦766 is set by the refinery, additional costs like transportation, … Read more
Uber announced on Friday a 13% increase in fares to help drivers cope with the recent fuel price hike in Nigeria. This adjustment is intended to mitigate the impact of the fuel price increase on drivers’ earnings. However, some drivers have expressed concerns that the fare increase is insufficient compared to the over 40% rise … Read more
Independent petroleum marketers in Nigeria are expecting petrol from the Dangote Petroleum Refinery to be priced between ₦600 and ₦650 per litre when it becomes available in the market. Hammed Fashola, the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), expressed optimism in an interview with Punch that the $20 billion Dangote … Read more
PROAN President Billy Gillis-Harry highlighted that aligning Nigeria’s petroleum prices with international rates would make fuel unaffordable for most Nigerians EKO HOT BLOG reports that President of the Petroleum Retail Owners Association of Nigeria (PROAN), Billy Gillis-Harry, has highlighted the challenges faced by Nigerians with the current market price of petroleum, estimating it should be between … Read more