The federal government’s plan to introduce a 5 percent surcharge on refined petroleum products — including petrol and diesel — has been met with swift and loud opposition from industry stakeholders, civil society groups, and political figures. The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned that the tax could push many … Read more
Says we have seen the coming on board of BUA, another refinery We have seen the coming on board of BUA, another refinery NNPCL reduced the ex-depot price of petrol, from N1,020 to N899 per litre A Professor of Energy, Yemi Oke, has said that the competition in the petroleum sector would continue. EKO HOT … Read more
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has confirmed that the pump price of petrol will drop to ₦935 per litre nationwide starting Monday. This announcement was made by IPMAN’s National President, Alhaji Maigandi Garima, on Sunday in Abuja. He commended Dangote Refinery for facilitating the new pricing structure aimed at reducing transportation … Read more
Crude oil refiners and Operators in Nigeria’s downstream sector have pointed to dollar-denominated charges on locally refined petrol as a major factor behind the higher cost of locally produced fuel compared to imported Premium Motor Spirit (PMS). Data from the Major Energies Marketers Association of Nigeria (MOMAN) revealed that as of December 5, 2024, the … Read more
The Nigerian National Petroleum Company Limited (NNPCL) has dismissed as false a video showing dark petrol allegedly purchased from one of its filling stations in Keffi, Nasarawa State. The video, which showed someone pouring a dark liquid from a bottle and claiming it was Premium Motor Spirit (PMS) bought from an NNPCL station, has been … 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 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
Petroleum marketers have confirmed that the recent fuel price hike by the Nigerian National Petroleum Company Limited (NNPCL) is a direct result of the complete removal of subsidies on Premium Motor Spirit (petrol). The NNPCL has now raised pump prices to ₦1,030 per litre in Abuja and ₦998 per litre in Lagos. EDITOR’S PICKS Health, … Read more
President Bola Tinubu’s administration has launched a new platform allowing vehicle owners to transition from petrol to Compressed Natural Gas (CNG) under a ‘convert now and pay later’ scheme. This online portal aims to make it easier for Nigerians to convert their petrol-fueled vehicles to CNG, with the added convenience of deferring payment for conversion … 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 Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to meet with Dangote Refinery this week to discuss direct procurement of Premium Motor Spirit (PMS), commonly known as petrol, and explore potential price reductions. IPMAN spokesperson, Chief Chinedu Ukadike, shared this update in a recent statement, expressing optimism among members about the imminent … Read more
Ekohotblog reports that Billionaire businessman, Femi Otedola, has commended President Bola Ahmed Tinubu following the commencement of petrol loading at the Dangote Refinery. On Sunday, the 650,000 barrels-per-day pm Lagos-based refinery started loading petrol into trucks owned by the Nigerian National Petroleum Company Limited (NNPCL), marking a significant milestone in Nigeria’s energy sector. EDITOR’S … 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
As Nigerians anticipate the release of Premium Motor Spirit (PMS) from the $20bn Dangote Petroleum Refinery, the Nigerian National Petroleum Company Limited (NNPCL) has announced it will begin lifting the product from the refinery on September 15, with prices influenced by foreign exchange rates and market forces due to the deregulated market. EDITOR’S PICKS Police … 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
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
An unidentified father allegedly killed his eight-year-old son in the Epe area of Lagos State over a misplaced sewing thread. The incident happened around 10:00 a.m. on August 5, when the father discovered the missing thread. Enraged, he allegedly doused his son with petrol, leading the boy to start vomiting white substances EKO HOT BLOG … Read more
Ekohotblog reports that a deeply distressing incident occurred today in Epe, where a father has been reported to have whipped his son to death over a N100 disagreement. The situation escalated into ayn even more horrific act when the father poured petrol on the boy’s face, leading to choking and suffocation. EDITOR’S PICK … Read more
The Senate has raised concerns about the increase in substandard petrol and diesel in Nigeria. EKO HOT BLOG reports that the Senate on Wednesday raised an alarm over the increase in substandard Premium Motor Spirit (petrol) and diesel in the Nigerian market. Senator Asuquo Ekpeyong noted that on June 16, 2024, a report revealed that 12 … Read more
Federal Government Speaks On Return Of Fuel Subsidy. Minister of State for Petroleum Resources emphasizes government’s stance on subsidy cessation. Challenges raised for those alleging ongoing subsidy payments, calling for evidence and facts to support claims. EKO HOT BLOG reports that the Federal Government, through the Ministry of Petroleum Resources and the Nigerian National Petroleum Company … Read more