₦500 fuel levy won’t begin automatically in 2026 Nigerians urged to disregard misleading claims Implementation requires the Finance Minister’s formal order The Presidential Fiscal Policy and Tax Reforms Committee has announced that the proposed ₦500 fuel levy will not take effect automatically on January 1, 2026. This clarification comes from the Committee’s chairman, Taiwo Oyedele, … Read more
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that petrol will be sold at ₦935 per litre across the country starting Monday, December 23. The announcement was made by the IPMAN National President, Alhaji Maigandi Garima, during a press interaction on Sunday. Garima confirmed that fuel stations nationwide would adopt the new pricing … Read more
The Major Energy Marketers Association of Nigeria (MEMAN) has reported a marginal decrease in the landing cost of Premium Motor Spirit (PMS), signaling some stability in the downstream petroleum sector. According to MEMAN, the landing cost of PMS fell slightly to ₦970 per litre in December 2024, compared to ₦971 per litre in November. This … Read more
The Port Harcourt Refining Company (PHRC) has scaled down its operations to enhance the facility while resuming limited product distribution, including Premium Motor Spirit (PMS), kerosene, and diesel. This development comes as independent petroleum marketers challenge the proposed price of N1,030 per litre for petrol from the refinery, citing concerns over affordability compared to alternatives … Read more
The Nigerian National Petroleum Company Limited (NNPCL) has dismissed rumors regarding an increase in Premium Motor Spirit (PMS) prices at its retail outlets. In an interview with Daily Post on Tuesday, NNPCL spokesperson Olufemi Soneye clarified that he is unaware of any rise in fuel pump prices, countering claims that the cost per litre had … Read more
The federal government has shed light on its recent meeting with organized labour, which took place on Wednesday in Abuja. Minister of Information and National Orientation, Mohammed Idris, explained that the government is committed to maintaining consistent dialogue with labour unions rather than waiting for tensions or disputes to arise before initiating discussions. EDITOR’S PICKS … Read more
The Comptroller-General of the Nigeria Customs Service (NCS), Adewale Adeniyi, has announced that seized petrol in Adamawa State will be auctioned at ₦630 per litre. This decision was disclosed during a press conference on Wednesday, October 9, 2024, in Yola, the capital of Adamawa State. Represented by the Deputy Comptroller-General of Customs, Aliyu Alajogun, Adeniyi … Read more
Salihu Lukman, former National Vice Chairman (North-West) of the All Progressives Congress (APC), has accused the Nigeria National Petroleum Company Limited (NNPCL) of manipulating petroleum prices since the Dangote Refinery began operations. EKO HOT BLOG reports that in a statement titled “Nigerian Democracy in ICU,” Lukman argued that the pricing system is designed to maintain a … Read more
Ogun State Governor, Dapo Abiodun, has approved a new policy granting officers on Grade Levels 01-14 two days off per week, while those on Grade Levels 15-17 will continue to enjoy one day off weekly. In a statement by the State Head of Service, Kehinde Onasanya, the initiative aims to ease the burdens faced by … 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
The Federal Government has dismissed viral reports claiming that the Ministry of Petroleum directed the NNPCL to sell fuel at ₦1,000 per liter, above the approved pump price. A report, not attributed to The Nation, alleged that the Minister of State for Petroleum Resources, Hon. Heineken Lokpobiri, instructed NNPC to raise the fuel price to … Read more
The Nigerian National Petroleum Company (NNPC) Ltd has clarified that it is currently selling petrol (Premium Motor Spirit, PMS) at half of its actual landing cost, not offering a subsidy. Speaking in Abuja on Monday, NNPC’s Chief Financial Officer, Umar Ajiya, explained that the company is covering what he described as a “shortfall” rather than … Read more
Eko Hot Blog reports that the Airline Operators of Nigeria (AON) have raised alarm over the increasing operational costs as aviation fuel prices surge beyond N1,300 per litre. The spokesperson for Airline Operators of Nigeria, Obiora Okonkwo, expressed deep concern in a statement released on Friday, highlighting the urgent need for government intervention to avert … Read more
EKO HOT BLOG reports President Bola Tinubu, on Friday, revealed that the policies and programmes of his administration are aimed at achieving a fairer, better and honest society. The President stated this while speaking during an audience with a delegation of South-West Muslim faithful, led by Alhaji Rasaki Oladejo, at the Presidential Villa, Abuja. EDITOR’S … Read more
EKO HOT BLOG reports that President Bola Tinubu has assured Nigerians that there will be no increase in the pump price of petrol. The National Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chief Chinedu Ukadike, had asked Nigerians to expect a fuel price hike soon as a result of forex … Read more
EKO HOT BLOG reports that in a meeting on Wednesday, state governors revealed they are collaborating with the federal government to provide relief measures, or “palliatives,” to Nigerians after the removal of fuel subsidies. The details of these plans are being finalized, according to the Imo state Governor and chairman of the All Progressives … Read more
EKO HOT BLOG reports that House of Representatives on Wednesday resolved to set up an ad-hoc committee to look into the continued increase in fuel pump prices, especially the recent one. They will also look into the proposed palliative measures to be taken to ameliorate the sufferings of Nigerians. EDITOR’S PICKS Delta Community Imposes N10,000 … Read more
EKO HOT BLOG reports that the main opposition party, the Peoples Democratic Party (PDP), has addressed President Bola Ahmed Tinubu in a statement issued on Wednesday following the recent increase in the pump price of petrol/fuel. This online media platform gathered that the Nigerian National Petroleum Company Limited (NNPCL) announced a new hike in the … Read more
EKO HOT BLOG reports that the Nigerian Union of Journalists, NUJ, has called on the authority to immediately reverse the upward review of the pump price of Petroleum Motor Spirit, PMS, also known as petrol. This online media platform gathered that oil marketers announced on Tuesday a new pump price for fuel across the country. … Read more
EKO HOT BLOG reports that a former Kaduna Central Senator, Shehu Sani, has reacted to the increase in the pump prices of Petrol, known as Premium Motor Spirit (PMS), from 537 to 617 naira per litre. This online media platform earlier reported that the Nigerian National Petroleum Company Limited (NNPCL) has again increased pump prices … Read more