Fuel crisis looms in FCT, North, as PTD orders drivers to halt lifting of products
By Victor Ahiuma-Young Petroleum Tanker Drivers, PTD, yesterday, ordered immediate stoppage of distribution of petroleum products from Lagos to the northern part of the country till further notice. PTD, in a statement by its National Chairman, Otunba Salimon Oladiti, explained that the action became necessary, following shut out of heavy trucks, including tankers, from all […]
Coronavirus crisis puts Nigeria’s corrupt fuel subsidy system in spotlight
Plunging oil prices and collapsing state revenues have seen Nigerian authorities vow an end to a controversial fuel subsidy scheme long criticised as a graft-ridden drain on public finances. But there are major doubts that Nigeria is finally ready to wean itself off a system that has helped some in high places syphon billions from […]
Removal of fuel subsidy, price-fixing excites Atiku
Former Vice President Atiku Abubakar has described the stoppage of subsidy and price-fixing for petrol as a right move by the All Progressives Congress (APC) administration led by President Muhammadu Buhari. Abubakar is also the leading opposition Peoples Democratic Party (PDP) presidential candidate in the 2019 general elections. In his verified Twitter handle on Friday, […]
Fuel subsidy removal: FG to legalise artisanal refiners
The Federal Government has disclosed that it was developing a policy towards legalising the operations of the illegal crude oil refineries in order to make petroleum products available and affordable for Nigerians.
[UPDATED] Petrol pump price now N121.50 ― PPPRA
By Michael Eboh The Petroleum Products Pricing Regulatory Agency (PPPRA), Monday, further slashed the pump price of Premium Motor Spirit (PMS), also known as petrol, to N121.50 per litre for the month of June, cutting the price by N2 from N123.50 per litre it announced for May. In a letter to petroleum products marketers, the […]
Venezuela raises fuel prices after arrival of Iranian oil tankers
Venezuela will increase fuel prices in June, the president said, putting a limit on state subsidies that for decades had allowed citizens to fill their gas tanks virtually for free. Although the country has huge oil reserves, production has collapsed and Venezuelans are facing dire shortages — exacerbated by the impact of COVID-19 on the […]
Fuel import: PPPRA engages CBN on forex for oil marketers
The Petroleum Products Pricing Regulatory Agency (PPPRA), Monday said it is engaging with the Central Bank of Nigeria (CBN) on ways to make foreign exchange accessible to private oil marketing companies seeking to import Premium Motor Spirit (PMS), also known as petrol, and other petroleum products.
Lockdown: DPR wants Niger Govt. to extend time for motorists to purchase fuel
The Department of Petroleum Resources (DPR), in Niger has appealed to the State Government to extend the approved daily operational deadline given petroleum products marketers to sell fuel to motorists in the state.
Fuel Price: PDP rejects N123.5 price tweak, insists on N90 per liter
The Peoples Democratic Party (PDP) rejects the April 1 tweaking of fuel price from N125 to N123.5 instead of the appropriate N90 per liter canvassed by Nigerians.
Fuel price reduction: IPMAN directs members to adjust to new price
The Independent Petroleum Marketers Association of Nigeria(IPMAN), has directed its members to adjust to the new Premium Motor Spirit (PMS) pump price of N123.50 per liter approved by the Federal Government.
Oil price slump: FG slashes fuel price to N123.50 per litre
By Michael Eboh The Federal Government, Tuesday, further slashed the price of Premium Motor Spirit, PMS, also known as petrol, to N123.50 per litre, with effect from April 1, 2020, from N125 per litre. The new price, which would last throughout the month of April, was coming on the back of a continuous decline in […]
