Monday, November 12, 2018

Tag "IPMAN"

    Drama as three people struggle for IPMAN chairmanship at senate hearing

Drama as three people struggle for IPMAN chairmanship at senate hearing

There was a mild drama at the senate during a public hearing on the cause of the petrol scarcity across the country.At the commencement of the hearing on Thursday, Kabir Marafa, chairman of the committee on downstream, asked stakeholders to introduce themselves.But three people - Obasi Lawson, Sanusi Fari and Okoronkwo Chinedu - all claimed to be the head of [...]

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    Scarcity looms as marketers threaten showdown with NNPC

Scarcity looms as marketers threaten showdown with NNPC

Independent petroleum marketers in Lagos have threatened to withdraw their services from December 11 over the alleged breach of agreement by the Nigerian National Petroleum Corporation (NNPC).The Independent Petroleum Marketers Association of Nigeria (IPMAN) in the state accused the NNPC of breach of bulk purchase agreement to sell fuel to them at N133.28 per litre.In statement on Wednesday, Alanamu Balogun, [...]

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    Fuel scarcity looms in south-west as IPMAN threatens to ‘shut down’

Fuel scarcity looms in south-west as IPMAN threatens to ‘shut down’

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said the unfriendly policies of the Nigerian National Petroleum Corporation (NNPC) will soon lead to fuel scarcity in six states.The six states are Oyo, Osun, Lagos, Kwara, Ondo, and Ekiti.The association said the NNPC was collecting unwarranted levies from its members and as such, threatened to shut down its stations.IPMAN urged [...]

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    Scarcity looms as south-west marketers ‘stop lifting fuel’

Scarcity looms as south-west marketers ‘stop lifting fuel’

The south-west zone of the Independent Petroleum Marketers Association of Nigeria (IPMAN) says some of its members have stopped lifting fuel because the official pump price of N145 per litre is "no longer sustainable".According to PUNCH, the marketers stopped dispensing fuel last week and have also not lifted new product "because they are no longer breaking even".Debo Ahmed, IPMAN chairman in the [...]

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    NNPC, IPMAN fix 24-hour service to end scarcity

NNPC, IPMAN fix 24-hour service to end scarcity

The Nigerian National Petroleum Corporation (NNPC) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have agreed to a 24-hour service to end fuel scarcity.Ibe Kachikwu, general managing director of the NNPC, set up a 14-man committee to invite all stakeholders within the IPMAN hierarchy “to bring back peace to the association at the national, zonal and depot levels”.He noted [...]

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    DPR recovers 114,000 litres of petrol ‘diverted by 3 stations’

DPR recovers 114,000 litres of petrol ‘diverted by 3 stations’

The Department of Petroleum Resources (DPR) says it has recovered 114,000 litres of petrol diverted by three filling stations in Yola, Adamawa.Musa Akenn, DPR controller of operations in Adamawa and Taraba states, confirmed this to reporters in Yola on Friday.Akenn said the recovered product was sold to motorists at official pump price of N86. 50.Speaking on the development, Ibrahim Gayus, [...]

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    Pump Price: DPR threatens to slam N1m fine on erring stations

Pump Price: DPR threatens to slam N1m fine on erring stations

The Department of Petroleum Resources (DPR) has threatened to impose a fine of one million naira on any oil marketer caught manipulating the pump price of fuel.The agency also said any station found selling above the fixed price will be closed for three months.Mordecai Ladan, director of petroleum resources of DPR, made the plan known in an interview with NAN [...]

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    Nigeria tipped to reduce fuel import

Nigeria tipped to reduce fuel import

The Oxford Business Group (OBG) has tipped Nigeria for better fuel import profile, following the apparent reforms in the nation’s downstream oil sector.The business group which analysed the possibility of seven functional refineries in Nigeria, said the country is set to cut oil imports as it would inch closer to meeting its fuel needs.In a report released on Monday, the global publisher [...]

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    Like House, Senate to expedite action on PIB

Like House, Senate to expedite action on PIB

Deputy Senate President, Ike Ekweremadu, has assured Nigerians and stakeholders in the Petroleum sector that the National Assembly would fast-track its work on the Petroleum Industry Bill (PIB).He gave the promise while receiving a delegation of the newly-elected National Executive Council members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) in Abuja on Friday.Speaking through Mr. Uche Anichukwu, his special adviser [...]

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Exchange Rates

November 9, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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