Petrol stations across the South West may go dark from Monday as the Independent Petroleum Marketers Association of Nigeria (IPMAN), Western Zone, has vowed to shut operations in protest of what it calls an attempt to “monopolise” the downstream petroleum sector. The decision, reached at a zonal council meeting on Saturday, comes just as Dangote … Read more
Ardova Plc partners with Dangote Refinery for competitive fuel pricing. Deal aims to boost efficiency and competition in Nigeria’s oil sector. Dangote Refinery and MRS offer petrol at ₦935 per litre nationwide. Ardova Plc, one of Nigeria’s leading integrated downstream oil and gas companies, has signed a bulk purchase framework with Dangote Refinery to ensure … Read more
A new per-litre price of Premium Motor Spirit (PMS), commonly known as petrol, has been introduced across Nigerian National Petroleum Company Limited (NNPCL) retail outlets in the Federal Capital Territory (FCT), Abuja. EKO HOT BLOG reports that Journalists observed that the price of petrol had dropped from ₦1,060 to ₦1,040 per litre, reflecting a ₦20 … Read more
The Nigerian National Petroleum Company Limited (NNPCL) and major oil marketers are engaged in discussions aimed at eliminating petrol importation by increasing reliance on the Dangote Refinery. The meeting, held at the NNPCL Towers in Abuja and chaired by NNPCL Group CEO Mele Kyari alongside the Nigerian Midstream and Downstream Petroleum Regulatory Authority, included representatives … 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
Aliko Dangote, President of Dangote Refinery, has assured that fuel queues across Nigeria will disappear once oil marketers start sourcing fuel from his refinery. Speaking to State House Correspondents after a meeting with President Bola Ahmed Tinubu, Dangote stated that his refinery holds the solution to the country’s persistent fuel queues. He urged the Nigerian … Read more
Approximately 42.3 million litres of imported Premium Motor Spirit (PMS), or petrol, are expected to arrive in Nigeria next week, oil marketers announced on Friday, emphasizing the ongoing need for imports due to insufficient domestic production. Industry dealers noted that while local refining efforts from modular refineries and the Dangote Petroleum Refinery are underway, they … Read more
The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, has reassured Nigerians that discussions with Dangote Refinery for direct petrol loading are progressing and will soon be finalized. Speaking during the inauguration of a task force to combat oil bunkering and pipeline vandalism in Abuja on Wednesday, Maigandi expressed confidence … Read more
The Nigerian National Petroleum Company Limited (NNPCL) remains the sole off-taker of Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Petroleum Refinery, despite the Federal Government’s recent directive allowing independent oil marketers to begin lifting petrol from the facility. EDITOR’S PICKS ICYMI: Nigerian TikToker, Oloba Salo Reportedly Shot in Lekki, Don’t Scrap … Read more
Nigerians may need to brace for continued fuel scarcity as oil marketers have linked the ongoing shortage of Premium Motor Spirit (PMS) to persistent logistical challenges. Speaking on Channels Television’s Morning Brief on Monday, Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association (PETROAN), highlighted the supply constraints marketers are currently facing, which … Read more
Oil Marketers Eye N500/Litre Petrol Price As Port Harcourt Refinery Gears Up. Dealers confirm nearing readiness of PHRC, anticipate reduction in petrol price. NNPC’s Mele Kyari reveals plans for refinery operations, aiming to alleviate petroleum supply challenges. EKO HOT BLOG reports that as the Port Harcourt Refining Company (PHRC) gears up for production under the directives … Read more
Oil Marketers Deny Petrol Price Drop Amidst Market Stability Associations maintain stance: PETROAN and IPMAN reaffirm no changes, while MEMAN emphasizes stable pricing through depot ownership. Speculation lingers on direct sourcing: Rumors suggest price shifts from independent sourcing, contrasting MEMAN’s distribution model. EKO HOT BLOG reports that oil marketers and other operators in the downstream sector … Read more
Eko Hot Blog reports that Nigerian National Petroleum Company (NNPC) Limited has reacted to reports that there is an imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol. In a statement issued by the company’s spokesperson, Olufemi O. Soneye, on Wednesday, it said there was no plan to raise petrol … Read more
NNPC Limited directs oil marketers on new payment plan after fuel subsidy removal by the Nigerian government, with options for order consolidation and cash refunds. Concerns arise over affordability, while predictions point to decreased fuel consumption and potential industry shifts. This development follows the Federal Government’s decision to remove fuel subsidies approximately two weeks ago. … Read more
Oil marketers, represented by the Independent Petroleum Marketers Association of Nigeria (IPMAN), have disclosed that they possess the necessary numerical strength to bring down the pump price of Petrol. This is in response to the ongoing fuel subsidy removal discussions that has plagued the Nigerian political space. President Tinubu, during his inauguration, declared an … Read more
Oil marketer has approximated N400/litre as the price of fuel without subsidy. EKO HOT BLOG reports that oil marketers have revealed that the Nigerian National Petroleum Company Limited can sell Premium Motor Spirit, popularly called petrol, at N400/litre without subsidy. Oil marketers, who made the disclosure on Sunday, also gave other reasons for the continued … Read more
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
FG, Oil Marketers Agrees On New Fuel Price –Reports An agreement was reportedly reached between Oil Marketers and Federal Government to hike the fuel price to the said amount EDITOR’S PICK: Police Recover Unexploded IEDs At Owo Church Owo Church Attack “Targeted At Turning Yorubaland Into A War Zone” – Ooni Of Ife [JUST IN] … Read more
While marketers have defended the fuel price, airlines have insisted that it is too high, accusing marketers of exploitation The entire situation has led to increases in airfares EDITOR’S PICK Accountant General Suspended Over Alleged ₦80bn Fraud EFCC Arrests Former NDDC MD Ekere Over Alleged ₦47bn Fraud 5 Killed As Okada Riders, Traders Clash In … Read more
Oil marketers explained that Nigeria’s inability to give a definite figure on the amount of petrol it consumes daily was due to the continued smuggling of PMS The Minister said the truth was that if the country’s petroleum products were smuggled outside the country, nobody could say what volume was involved EKO HOT BLOG reports … Read more