Theatrics As FG Advises Nigerians To Use Bicycles Amid Fuel Price Hike

Fuel Price hike

  EKO HOT BLOG reports that the Director, Road Transport and Mass Transit Administration, Musa Ibrahim has urged the populace to embrace the use of bicycles as it lead to a drop in road crash incidences. This online media platform gathered that Ibrahim stated this at a one-day stakeholders sensitization meeting held in Abuja. EDITOR’S … Read more

NNPCL Increases Fuel Price To N617

Fuel price

EKO HOT BLOG reports that the Nigerian National Petroleum Company Limited (NNPCL) has further increased pump prices of Petrol, known as Premium Motor Spirit (PMS) from 537 to 617 naira Per Litre. According to Daily Sun, NNPC filling stations increased their prices on Tuesday morning. NNPC filling stations in Abuja witnessed brief queues, particularly the … Read more

Fuel Subsidy: ‘I Inherited Liability’ – Pres. Tinubu

TInubu

Eko Hot Blog reports that Nigeria President, Bola Tinubu has stated that he inherited liability from his predecessor. Tinubu stated this during a closed-door meeting with the All Progressives Congress (APC) governors at the Presidential Villa, Abuja on Friday. EDITOR’S PICKS   Major Nigeria Newspaper Headlines Saturday, June 3rd 2023 Why We Hiked Fuel Price At … Read more

Subsidy Removal: Why We Hiked Fuel Price At Our Retail Outlets – NNPC

An NNPC outlet where fuel price is set at N511

Eko Hot Blog reports that the Nigerian National Petroleum Company (NNPC) Limited has revealed the reason for the increase in pump price at its outlets across the country. Recall that President Bola Tinubu, in his inaugural address on Monday, triggered panic buying across the country after declaring that “fuel subsidy is gone.” EDITOR’S PICKS   Epe-Berger … Read more

‘Fuel Subsidy Not Over Yet’ – FG Sets Record Straight On Announcement

Tinubu meet Governors

FG has clarified announcement on fuel subsidy removal  Recall that in his inauguration speech on Monday, the President stated that the subsidy is over However, latest reports has reveled that the subsidy will end after June. EKO HOT BLOG reports that the Asiwaju Bola Ahmed Media Centre has explained the announcement of the removal of … Read more

FRSC Races To Rescue Passengers As Burning Tanker Wreaks Havoc On Lokoja-Abuja Highway

Lokoja-Abuja highway

  There has been a fatal accident on the Lokoja-Abuja highway in Kogi State, resulting in multiple deaths and injuries from burns. A tanker carrying fuel lost its grip, causing it to collide with other vehicles. Emergency services are still at the scene trying to put out the fire and rescue passengers trapped in the … Read more

NBS Releases Average Price Of Petrol In March As Subsidy Removal Beckons

The Nigerian government is set to remove fuel subsidy, setting the stage for significant increase in petrol pump price. Although the subsidy is not officially removed, oil marketers across the country have raised prices in the last few months. In March 2023, Nigerians paid 42.63% more than they paid for fuel in March 2022. Eko … Read more

Nigeria’s Inflation Rate Rises To 22.04% As Food Prices Soar

The NBS has released the CPI and Inflation Report for March 2023. The CPI measures the average change over time in the prices of goods and services consumed by people for day-to-day living. The February headline inflation rate was 21.91%. Eko Hot Blog reports that Nigeria’s headline inflation rate rose to 22.04% in March 2023. … Read more

Gridlock As Protest Resumes In Ibadan Over Fuel, Naira Scarcity [PHOTOS]

Protests have resumed in Ibadan over fuel and Naira scarcity. The protest has caused serious gridlock in the Eleyele area. Checks by journalists revealed that motorists have been turning back while schoolchildren hurriedly return home for fear of being attacked. EKO HOT BLOG reports that protesters have blocked the ever-busy Eleyele junction in the Ibadan … Read more

Why Fuel Scarcity Has Persisted – IPMAN

Nigerians have been struggling to buy fuel since late 2022. The scarcity has prompted marketers who have the products to sell at high prices. The marketers have argued that there’s a shortage of supply to them. Eko Hot Blog reports that the Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that the petrol supply … Read more

Imminent Nationwide Strike Of NUPENG May Exacerbate Fuel Scarcity

The fuel scarcity across Nigeria may worsen as NUPENG threatened a nationwide strike. The union accused security agents of destroying its tankers. Eko Hot Blog reports that the Petroleum Tanker Drivers (PTD), a branch of the National Union of Petroleum and Natural Gas Workers (NUPENG), has threatened to embark on a nationwide strike. EDITOR’S PICKS  … Read more

Avoid Unsafe Sale, Storage Of Fuel, Lagos Govt Warns Residents

The Lagos government has warned residents to avoid unsafe fuel sale and storage. Eko Hot Blog reports that Lagos State government has warned against unsafe fuel storage in homes, markets, and workplaces which can result in fires with resultant loss of lives and properties. EDITOR’S PICKS  Lagos CP Replaces All Officers In Ajah Division After … Read more

Fuel Scarcity: FG Denies Plans To Hike Price As Queues Spread Nationwide

The federal government has denied plans to hike the fuel price amid a nationwide scarcity.  Eko Hot Blog reports that the federal government of Nigeria says it has no intention of increasing the price of Premium Motor Spirit (PMS), popularly called petrol, at this time. EDITOR’S PICKS  Buckingham Palace Official Resigns After Racist Comments To … Read more

‘I’m Sorry For The Next President’ – Sanusi Speaks On Subsidy

Subsidy

Sanusi has said he is sorry for the next president over the oil subsidy matter. EKO HOT BLOG reports that the deposed Emir of Kano and vice chairman of Kaduna Investment Promotion Agency, Lamido Sanusi, has expressed his compassion for the next president that will succeed President Muhammadu Buhari, due to the perceived depleted state … Read more

Buhari Govt Finally Speaks On Increasing Fuel Price (Details)

Petrol Prices Depots Adjust Rates

Buhari Government Has Spoken On Increasing fuel Price EKO HOT BLOG reports that the Muhammadu Buhari-led government has again denied that it increased the pump price of Premium Motor Spirit, popularly called petrol, above the regulated cost of N165/litre. Minister of State for Petroleum Resources, Timipre Sylva, disclosed this on Monday at an event organised … Read more

(PHOTO): Watch As Fuel Tanker Explodes In Lagos (VIDEO)

Fuel tanker explodes in Lagos …Operation is still ongoing EDITOR’S PICK: BREAKING: INEC Declares PDP’s Adeleke Osun Gov-Elect BREAKING: Yemi Osinbajo Undergoes Leg Surgery Governor Sanwo-Olu Charges Officials Over Poaching Of State Athletes EKO HOT BLOG reports that a petroleum tanker caught fire at mile 2 of Otto Wharf in Lagos State. The Lagos State … Read more

Scarcity: Marketers Plan Strike As Fuel Sells 175/litre, Queues Worsen

Marketers Plan Strike
  • Marketers Plan Strike As Fuel Sells 175/litre, Queues Worsen

  • Some outlets in Lagos that sold the commodity at N169/litre last week had to adjust their pumps on Wednesday, as they dispensed PMS to motorists at N175/litre

EDITOR’S PICK: 

EKO HOT BLOG reports that some filling stations on Wednesday dispensed Premium Motor Spirit, popularly called petrol, at over N175/litre, higher than the government-approved N165/litre price, as oil marketers insisted to embark on strike from next week if the government fails to pay them (marketers).

It was gathered that some outlets in Lagos that sold the commodity at N169/litre last week had to adjust their pumps on Wednesday, as they dispensed PMS to motorists at N175/litre.

Also, queues by motorists at filling stations, which had persisted in Abuja and environs since February this year, gradually resurfaced in parts of Lagos on Wednesday.

It was observed that many filling stations, particularly those belonging to members of the Independent Petroleum Marketers Association of Nigeria, were shut due to a lack of products to sell to customers.

Gegu Oil, Eterna and Oando filling stations at the Dutse end of the Kubwa-Zuba Expressway in Abuja, for instance, had remained shut for days for lack of products to sell, despite the heavy queues of motorists in a nearby NNPC retail outlet.

Amidst these concerns, oil marketers under the aegis of Abuja-Suleja IPMAN, stated on Wednesday that their proposed strike would go ahead next week if the government fails to substantially clear the bridging claims for transportation of petrol being owed marketers.

Last week, oil marketers warned that Nigeria could witness “the mother of all queues” soon if the Federal Government fails to pay the 12 months bridging claims being owed operators in the downstream oil sector.

They had also denied being paid N74bn by the Federal Government as bridging claims for the transportation of petroleum products.

The Federal Government through its Nigeria Midstream and Downstream Petroleum Regulatory Authority had said last week that it paid N74bn as bridging claims to oil marketers for the transportation of petroleum products across the country in seven months.

But the Secretary, Abuja-Suleja IPMAN, Mohammed Shuaibu, whose unit covers Abuja, Kogi, Niger and parts of Nasarawa and Kaduna, told a correspondent from Punch Newspapers on Wednesday that though some members had confirmed the receipt of payments, a host of others had yet to receive theirs.

“Few of our members have confirmed receiving alerts, but the majority have not been paid and so the decision to embark on the mother of all strike still stands, except we get our payments,” he stated.

Shuaibu added, “Many independent marketers are closing shop and because of these debts. We cannot continue to fold our hands. We are sorry about the hardship, but the government has to pay us, otherwise we will withdraw our services.”

FURTHER READING: 

Reacting to the concerns, the spokesperson, NMDPRA, Kimchi Apollo said that the petrol price had not changed from the approved N165/litre price, as he also stated that efforts were on to settle to bridging claims being owed the marketers.

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5 Countries With The Lowest Fuel Prices In The World

Fuel

EDITOR’S PICK  Kaduna Train Attack Victim Dies From Gunshot Injury Insecurity: Nigerians Leave Their Homes Unsure Of Returning – Wole Soyinka ‘Our Policies, Programmes Aim At Nothing But The Betterment Of Nigeria’ – Buhari Petrol and crude oil in general, is a vital material resource that we cannot survive without, as we all know. Every … Read more

Contaminated Fuel: Who Is To Blame, How Do We Move Forward?

By Cynthia Nwoke A few weeks ago, the Minister of State for Petroleum Resources, Timipre Sylva, indicated that the Federal Government had ordered an investigation to unravel the circumstance surrounding the importation and supply of contaminated PMS. Recall that the Group Managing Director of NNPC, Mele Kyari, to speak about the problem on Wednesday, February … Read more

Lagosians To Breathe Sigh Of Relief As NNPC Takes Delivery of 300 Million Litres Of Petrol

Why We Are Creating Retail Outlets In Niger Republic – NNPC

The Nigerian National Petroleum Company Limited (NNPC) has imported and taken delivery of 300 million litres of Premium Motor Spirit to close the supply gap created in the country by the withdrawal of the wrong petrol grade. Farouk Ahmed, the chief executive officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, said this on Wednesday in … Read more