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
Oil marketers disclosed on Friday that the Dangote Petroleum Refinery’s price for Premium Motor Spirit (PMS), commonly known as petrol, is between N1,015 and N1,028 per liter, depending on purchase volume. In response, marketers announced plans to import petrol and sell it at a lower price than both the Dangote Refinery and the Nigerian National … Read more
The landing cost of Premium Motor Spirit (PMS), commonly known as petrol, has significantly decreased to N981 per litre, as reported by the Major Energies Marketers Association of Nigeria (MEMAN) on Thursday. This reduction marks a substantial drop from the previous price of around N1,130 per litre observed in recent weeks, reflecting a decline of … 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