The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has said that Dangote Refinery in Lagos will supply the Nigerian market with 25 million litres daily this September. It also said that beginning in October, the 650,000 barrels per day facility will pump 30 million litres daily into the Nigerian market. EDITORS PICK: Maduro Grounded: … Read more
Nigerians are grappling with frustration as petrol prices soar to an unprecedented ₦855 per liter at NNPCL stations, particularly in Lagos, worsening the fuel scarcity and increasing the cost of living. The steep hike has drawn widespread criticism, with many, including Nollywood actress Kate Henshaw, voicing their concerns on social media. EDITOR’S PICKS Police Arrest … Read more
The Presidency has asserted that President Bola Tinubu’s administration did not mislead Nigerians about the removal of fuel subsidies. Special Adviser to the President on Information and Strategy, Bayo Onanuga, addressed concerns following a statement by the Nigerian National Petroleum Company Limited (NNPCL) regarding financial strains that have contributed to the current fuel scarcity. EDITOR’S … Read more
The Chairman and owner of Dangote refinery, Aliko Dangote, has spoken on pricing for petrol produced at his 650,000 barrels per day facility. Speaking on Tuesday, Dangote said as soon as his company finalises modalities with the Nigerian National Petroleum Company Limited (NNPCL), the product will hit the market. “Our PMS (Premium Motor Spirit) can … Read more
The President of the Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, Billy Gilly-Harry has called on Nigerians to brace up for a higher price of Premium Motor Spirit, PMS, in days to come. He made this call on Tuesday while speaking as a guest on Channels Television’s Morning Brief, saying that prices would … 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
Nigerians are yet to see the end of the Premium Motor Spirit (Petrol) crisis as the Nigerian National Petroleum Company Limited blamed supply cost for fuel scarcity. The financial strain has put considerable pressure on the company and poses a threat to the sustainability of fuel supply. EDITOR’S PICKS Police Arrest Man For Allegedly Killing … Read more
Former Nigerian Vice President Atiku Abubakar has urged President Bola Tinubu’s administration to promptly list the Nigerian National Petroleum Corporation Limited (NNPCL) on the stock exchange, as required by the Petroleum Industry Act (PIA). Atiku, the Peoples Democratic Party (PDP) presidential candidate in the 2023 election, argued that such a move would boost the company’s … Read more
Global fuel suppliers are increasingly unwilling to extend credit to the Nigeria National Petroleum Company Limited (NNPCL) due to its growing debt, which now exceeds $6 billion. Sources within the industry told Sunday Vanguard that NNPCL, responsible for importing petrol through supply agents, has faced difficulties settling its mounting debts, leading to widespread disruptions in … Read more
Assuming no unforeseen circumstances, Dangote Refinery is expected to make its first delivery of refined premium motor spirit, pms, to the Nigerian market by September 2024. The Federal Government has also announced that sales of crude oil to Dangote and other local refineries will begin on October 1, 2024. To address concerns about pump prices … Read more
Fuel queues have resurfaced in Lagos as many filling stations ran out of stock, leading to closures and long lines at the few stations still dispensing fuel. It was gathered on Sunday in Lagos that most filling stations along Ikorodu Road were not selling. However, the Nigerian National Petroleum Company Ltd. (NNPCL) and NIPCO at … Read more
Ekohotblog reports that Nigerians’ optimism about the end of petrol scarcity this year has been significantly dampened following recent statements from the Nigerian National Petroleum Company Limited (NNPCL). The company has now set an indefinite timeline for when the Port Harcourt Refining Company Limited will begin producing refined petroleum for local consumption, undermining earlier … Read more
The Nigerian National Petroleum Company Ltd (NNPCL) has firmly denied rumors that it is selling employment slots to Nigerians. In a statement released on Saturday by its Chief Corporate Communications Officer, Olufemi Soneye, the company described these rumors as the work of fraudsters attempting to take advantage of unsuspecting job seekers. NNPCL made it clear … Read more
The Senate Committee on Public Accounts lambasted the management of the Nigerian National Petroleum Company Limited, NNPCL, and other agencies over their persistent refusal to respond to queries raised against them in the 2019 Audit report. Chairman of the committee, Sen. Ahmed Wadada (SDP-Nasarawa West), who made this known while speaking to newsmen in Abuja, … Read more
Independent petroleum marketers in Nigeria are expecting petrol from the Dangote Petroleum Refinery to be priced between ₦600 and ₦650 per litre when it becomes available in the market. Hammed Fashola, the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), expressed optimism in an interview with Punch that the $20 billion Dangote … Read more
Former Deputy National Chairman of the Peoples Democratic Party, PDP, Olabode George, has expressed worry over the confusing reports about Nigeria’s oil sector, urging the Federal Government to tell Nigerians the truth about the industry. EKO HOT BLOG reports that George also faulted the decision of the Federal Government to sell crude oil to the … Read more
The federal government assures financing the new ₦70,000 minimum wage will be feasible, with plans to increase crude oil output to 2 million barrels per day. EKO HOT BLOG reports that the federal government has assured there will be no difficulties in financing the new ₦70,000 minimum wage signed into law by President Bola Tinubu. The … Read more
The House of Representatives has dissolved the ad-hoc Joint Committee on Downstream and Midstream Committee probing activities of the Nigeria National Petroleum Company Ltd.(NNPCL), and the Nigeria Midstream and Downstream Petroleum Regulatory Authority(NMDPRA). EKO HOT BLOG reports that the spokesperson of the House of Representatives, Rep. Akin Rotimi, made this known in a statement on … Read more
President Bola Tinubu has directed the Nigerian National Petroleum Company (NNPC) Limited to sell crude oil to Dangote Petroleum Refinery in Naira. Eko Hot Blog reports that this was contained in a press statement issued on Monday by Bayo Onanuga, special adviser on information and strategy to the president According to Onanuga, the proposal was … Read more
The House of Representatives threatens to dismiss NNPCL CEO Mele Kyari if he obstructs the Dangote Refinery’s operations and supports the dismissal of Petroleum Regulatory Authority CEO Farouk Ahmed. EKO HOT BLOG reports that the House of Representatives has vowed to call for the dismissal of the Group Chief Executive Officer of the Nigerian National Petroleum … Read more