The Nigerian National Petroleum Company Limited (NNPCL) has confirmed that it has not yet commenced bulk sales of petroleum products to marketers from its Port Harcourt Refining Company (PHRC). Currently, the company is selling products sourced from the Dangote Refinery at its retail stations. EDITOR’S PICKS Japa: Russia Opens Doors to Migrants Amid Workforce Shortage … Read more
The cost of landing Premium Motor Spirit (PMS), or petrol, in Nigeria has dropped by 20.34% over the last three months, now at ₦971.57 per litre, owing to fluctuations in global market prices and supply dynamics. Despite this decrease, retail petrol prices have surged by 71.79%, rising from ₦617 per litre on August 1, 2024, … 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
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
FG To Assist Fuel Marketers With CNG Pump Installations. IPMAN raised concerns about the high costs of installation and high-interest rates from banks. IPMAN suggested creating an ‘energy bank’ to provide more accessible loans for marketers. EKO HOT BLOG reports that the Federal Government is considering assisting independent fuel marketers in financing the installation of Compressed … Read more
Eko Hot Blog reports that Nigeria, a nation with abundant oil reserves, is grappling with a fuel crisis of unprecedented proportions. The combination of soaring fuel prices and widespread scarcity has sent shockwaves through the nation, affecting citizens, businesses, and the economy at large. Editor’s Pick Bello and Enenche: A Tale of Two Lions Breaking … Read more
Eko Hot Blog reports that Dangote Petroleum Refinery has announced a further reduction of the price of diesel from 1200 to 1,000 naira per litre. A statement by the organisation on Tuesday night explained that the significant reduction in the price of diesel is expected to positively affect all the spheres of the economy and … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Company Limited (NNPCL) has crashed the depot price of Premium Motor Spirit (PMS), popularly known as petrol, from N640 per litre to N630 per litre. The NNPCL has also disclosed plans to sell directly to independent marketers instead of first taking it to private depots so … Read more
Eko Hot Blog reports that fuel marketers have dismissed the rumoured plan to increase the pump price of Premium Motor Spirit (PMS) following the recent increase in crude oil price to $94. According to them, there has been no announcement by the Nigerian National Petroleum Company Limited (NNPCL) in that respect. Marketers had explained that … 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