Fuel marketers have provided an explanation for the delay in the reduction of petrol prices in Nigeria, despite official announcements by both Dangote Petroleum Refinery and the Nigerian National Petroleum Company (NNPC). In a move aimed at easing the burden on Nigerians ahead of the holiday season, Dangote Petroleum Refinery had announced a price reduction … Read more
The Major Energy Marketers Association of Nigeria (MEMAN) has reported a marginal decrease in the landing cost of Premium Motor Spirit (PMS), signaling some stability in the downstream petroleum sector. According to MEMAN, the landing cost of PMS fell slightly to ₦970 per litre in December 2024, compared to ₦971 per litre in November. This … Read more
The Nigerian National Petroleum Company Limited (NNPCL) has adjusted the price of Premium Motor Spirit (PMS) for marketers, lowering it from ₦1,045 per litre to ₦1,030 per litre. This announcement was made by Dr. Billy Harry, National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), during a strategic meeting and award … Read more
The Nigeria National Petroleum Company Limited (NNPCL) has urged Nigerians to dismiss claims discrediting the operational status of the Port Harcourt Refinery. In a statement released on Wednesday, the Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, denounced reports accusing the company of blending Crack C5 from Indorama Company with Naphtha to sell as refined … 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 Comptroller-General of the Nigeria Customs Service (NCS), Adewale Adeniyi, has announced that seized petrol in Adamawa State will be auctioned at ₦630 per litre. This decision was disclosed during a press conference on Wednesday, October 9, 2024, in Yola, the capital of Adamawa State. Represented by the Deputy Comptroller-General of Customs, Aliyu Alajogun, Adeniyi … 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
The Nigerian National Petroleum Company Limited (NNPCL) has given major petroleum marketers the green light to start lifting premium motor spirit (PMS), commonly known as petrol, from the Dangote Petroleum Refinery. This decision aligns with the existing agreement between NNPCL and the refinery. Under the original agreement, NNPCL was designated as the exclusive distributor of … Read more
The prices of Premium Motor Spirit (petrol) ranged between N897 and N980 per litre at major filling stations in the Federal Capital Territory, Abuja, as of Monday morning. An EKO HOT BLOG correspondent visited several major filling stations, including those operated by Independent Petroleum Marketers and NNPCL, revealing that pump prices per litre ranged from … 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
Smuggled Nigerian petrol floods West African markets, selling at N1,700/litre. Federal Government raises alarm over petrol smuggling into neighbouring countries. Customs seizes over 150,000 litres of smuggled petrol, launches Operation Whirlwind to curb activities. EKO HOT BLOG reports that the Federal Government raised an alarm on Monday about the resurgence of petrol smuggling, particularly Premium Motor … 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
NNPC has refuted claims of a decrease in petrol and diesel prices at its filling stations nationwide. Chief Corporate Communications Officer, Olufemi Soneye, clarified that reports of a price crash were false. The company affirmed that there were no plans for price adjustments. Eko Hot Blog reports that The Nigerian National Petroleum Corporation (NNPC) has … 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
EKO HOT BLOG reports that a tanker laden with Premium Motor Spirit (PMS), better known as petrol or fuel, and a truck reportedly collided around the Lufuape axis of the Lagos-Ibadan Expressway on Wednesday, causing gridlock on the route. The accident, was caused traffic congestion for travellers inward and outward from Long Bridge to the … Read more
EKO HOT BLOG reports that strong indications have emerged that oil marketers in the country would soon end the Nigerian National Petroleum Company Limited (NNPCL)’s monopoly of importation of Premium Motor Spirit (PMS), popularly known as petrol. This online media platform understands that oil marketers have resolved to resume the importation of fuel to stop … Read more
EKO HOT BLOG reports that most filling stations across Nigeria are currently rationing petrol due to the refusal of fuel marketers to import the product. This is despite the recent deregulation of the downstream oil sector, which was supposed to allow private marketers to import and sell petrol. EDITOR’S PICKS ‘We Will Hand Over Power … Read more
The NBS has revealed the average price of petrol in November. Eko Hot Blog reports that the National Bureau of Statistics (NBS) says the average retail price paid by consumers for Premium Motor Spirit (NBS), better known as Petrol, in November 2022, was N202.48. EDITOR’S PICKS Unfazed By Attacks, INEC Vows To Advance With 2023 … Read more
The federal government has denied plans to hike the fuel price amid a nationwide scarcity. Eko Hot Blog reports that the federal government of Nigeria says it has no intention of increasing the price of Premium Motor Spirit (PMS), popularly called petrol, at this time. EDITOR’S PICKS Buckingham Palace Official Resigns After Racist Comments To … 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