The Nigerian Senate has postponed its public hearing on alleged sabotage within the petroleum industry initially set for September 10-12, 2024, the hearing will be rescheduled to facilitate further consultations with key stakeholders whose insights are crucial for a thorough investigation. EKO HOT BLOG reports that Senate Leader and Chairman of the Ad-Hoc Committee on … Read more
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has declared its readiness to buy petrol from Dangote Refinery, regardless of the price set by the organization. EDITOR’S PICKS Police Arrest Man For Allegedly Killing Neighbour’s 4-Year-Old Daughter Misinformation Grinds Down Trust Between Govt, People -Minister UEFA To Honour Ronaldo For Record-Breaking Champions League Career EKO … Read more
The Nigerian National Petroleum Company Limited (NNPC) has addressed recent allegations from the Muslim Rights Concern (MURIC) that its actions are hindering the operations of Dangote Refinery Limited (DRL). In a statement issued on Saturday, Olufemi Soneye, the Chief Corporate Communications Officer of NNPC, rejected the accusations that fluctuations in the pump price of Premium … Read more
Oil marketers have yet to begin loading Premium Motor Spirit (PMS), commonly known as petrol, despite the Federal Government’s assurance of availability this weekend. Investigations revealed that while PMS vessels have arrived at the Nigerian National Petroleum Corporation (NNPC) depots in Apapa and Port Harcourt, independent marketers are yet to start loading. EDITOR’S PICKS I’ll Support … Read more
Bloomberg confirmed on Thursday that the Dangote Petroleum Refinery will begin determining the price of petrol starting in October. EDITOR’S PICKS Police Arrest Man For Allegedly Killing Neighbour’s 4-Year-Old Daughter Misinformation Grinds Down Trust Between Govt, People -Minister UEFA To Honour Ronaldo For Record-Breaking Champions League Career EKO HOT BLOG reports that Aliko Dangote, Chairman of Dangote … Read more
Vice President Kashim Shettima on Thursday held a meeting with the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, and the National Security Adviser (NSA), Nuhu Ribadu, to discuss the recent hike in petrol prices in Nigeria. The meeting, which took … Read more
The Minority Caucus of the House of Representatives has demanded an immediate reversal of the recent petrol price increase, arguing that it will exacerbate the hardships faced by Nigerians. In a statement issued on Thursday, Minority Leader Kingsley Chinda criticized the unilateral decision to raise the price of Premium Motor Spirit, claiming it violates principles … Read more
Billionaire businessman and Chairman of Geregu Power Plc, Femi Otedola, has praised President Bola Tinubu for his unwavering support of the $20 billion Dangote Refinery in Lagos, crediting the President’s backing as instrumental to the project’s success. EDITOR’S PICKS Police Arrest Man For Allegedly Killing Neighbour’s 4-Year-Old Daughter Misinformation Grinds Down Trust Between Govt, People … Read more
The Nigerian National Petroleum Company (NNPC) Limited has unveiled plans to collaborate with private sector firms for the management and maintenance of its Kaduna and Warri refineries. This strategic move is designed to bolster the country’s petrol supply and enhance energy security. EKO HOT BLOG reports that the announcement was made via a circular posted … Read more
Independent oil marketers in Nigeria have raised the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to between ₦900 and ₦1,000 per litre. This sharp increase contrasts with the lower prices at Nigerian National Petroleum Company (NNPC) stations, where petrol is sold for ₦568 to ₦617 per litre, leading to long queues … Read more
Good evening. Here is EKO HOT BLOG’s roundup of top stories in Nigeria today, Thursday, August 22, 2024. Rivers State High Court Issues Restraining Order Against APC Congresses A Rivers State High Court in Port Harcourt has granted an ex parte order restraining the national leadership of the All Progressives Congress (APC), led by Abdullahi … 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 Nigerian government aims to save $7.32 billion annually following President Bola Tinubu’s directive that the Nigerian National Petroleum Company Limited (NNPC) sell crude oil to local refineries in Naira. This announcement, made by Zacch Adedeji, Special Adviser on Revenue, came after the Federal Executive Council (FEC) meeting chaired by … Read more
The Arewa Consultative Forum (ACF) commends President Bola Tinubu for directing NNPC to sell crude oil to local refiners in naira, urging affordable petroleum prices in return. EKO HOT BLOG reports that the Arewa Consultative Forum (ACF) has praised President Bola Tinubu for directing the Nigerian National Petroleum Company Limited (NNPC) to sell crude oil to … Read more
The NNPC recruitment portal is facing technical issues due to high traffic, with the company working to resolve the problem and maintaining the application deadline of August 20, 2024. EKO HOT BLOG reports that the recruitment portal of the Nigerian National Petroleum Company (NNPC) Limited is currently inaccessible to interested applicants. Earlier on Friday, the petroleum … Read more
With petrol landing cost at N1,117 per litre, Nigeria’s monthly subsidy on petrol has increased to N707bn. EKO HOT BLOG reports that with the landing cost of Premium Motor Spirit (PMS) at N1,117 per litre, the monthly subsidy for petrol has surged to approximately N707bn, according to oil marketers on Monday. As the Dangote Petroleum Refinery … Read more
Eko Hot Blog reports that the national average retail price for Premium Motor Spirit, commonly known as petrol, saw a significant year-on-year increase of 37.44%, rising to ₦750.17 per litre in June 2024 from ₦545.83 per litre in June 2023. This data was revealed in a recent report by the Nigerian National Petroleum Corporation (NNPC). … Read more
President Tinubu directs security agencies to tackle crude oil theft in Niger Delta. Eko Hot Blog reports that President Bola Tinubu has instructed heads of security and intelligence agencies to intensify efforts against crude oil theft in the Niger Delta region. According to a report from this online media platform, Mele Kyari, the Group Managing … Read more
Mele Kyari, NNPC’s Group Chief Executive Officer (GCEO), has assured that the Port Harcourt refinery is set to begin operations in early August. Eko Hot Blog reported that Kyari made this statement on Monday during a session at the national assembly, where economic stakeholders appeared before the Senate Committee on Finance, led by lawmaker Sani … Read more
Marketers urges NNPC to increase fuel supply to members to alleviate petrol scarcity and high prices, citing long queues at gas stations as a direct consequence of insufficient supply. Eko Hot Blog reports that the Independent Marketers Association of Nigeria (IPMAN) has initiated a fresh move to reduce petrol prices and alleviate long queues at … Read more