Tag "petrol"

    Sylva: We didn’t promise to keep petrol prices low permanently

Sylva: We didn’t promise to keep petrol prices low permanently

Timipre Sylva, minister of state for petroleum resources, says the federal government did not promise to permanently reduce petrol price. [...]

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    Petrol to sell for N140 as PPPRA recommends price hike

Petrol to sell for N140 as PPPRA recommends price hike

The Petroleum Product Pricing Regulatory Agency (PPPRA) has recommended an upward review of the retail pump price of petrol from the previous N121.50. According to the agency, the recommended petrol retail band for a litre of petrol is now between N140.80 and N143.80. The statement, which was signed by Abdulkadir Saidu, PPPRA executive secretary, and seen by TheCable read: "Please recall the [...]

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    Report: Nigeria’s imported petrol dirtier than illegally refined in Niger Delta

Report: Nigeria’s imported petrol dirtier than illegally refined in Niger Delta

A new report published by Stakeholder Democracy Network (SDN), an international resource watchdog group, says refined petroleum products imported into Nigeria contain more pollutants than those refined by black market operators in the Niger Delta. The organisation said it carried out laboratory analysis of fuel samples collected from 45 government-licensed filling stations and unofficial (46) fuel selling points in Lagos, Rivers [...]

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    FG slashes petrol price to N121.50 per litre

FG slashes petrol price to N121.50 per litre

The Petroleum Products Pricing Regulatory Agency (PPPRA) has reduced the retail pump price of petrol to N121.50 per litre from the present N123.50. The regulatory agency announced the new retail price band to marketers in a May 31 circular seen by TheCable on Monday. According to the memo, marketers are expected to sell petrol between a price band of N121.50 and N123.50. "Please [...]

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    Subsidy out, petrol now N125 as FG says price will ‘reflect current realities’

Subsidy out, petrol now N125 as FG says price will ‘reflect current realities’

The federal government has directed the Nigerian National Petroleum Corporation (NNPC) to reduce the ex-coastal and ex-depot prices of PMS to reflect current market realities. In a statement signed by  Timipre Sylva, the minister of state for petroleum resources, the federal government said Petroleum Products Pricing Regulatory Agency (PPPRA) should modulate pricing in accordance with prevailing market dynamics. TheCable had earlier reported that the [...]

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    There will be no fuel scarcity during Christmas, says NNPC

There will be no fuel scarcity during Christmas, says NNPC

The Nigerian National Petroleum Corporation (NNPC) says there will be no fuel scarcity during the Christmas celebrations. Mele Kyari, group managing director (GMD) of the NNPC, said this during a meeting of stakeholders in the oil and gas sector at the presidential villa, Abuja. The meeting, chaired by Abba Kyari, chief of staff to President Muhammadu Buhari, was attended by Babatunde Fashola, [...]

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    Fashola: How we are easing the problem of moving fuel during festive period

Fashola: How we are easing the problem of moving fuel during festive period

Babatunde Fashola, minister of works and housing, says his ministry is working towards ensuring the smooth movement of fuel across the country during the festive period. The minister said this in Abuja on Monday during a stakeholders' meeting chaired by Abba Kyari, chief of staff to the president. He said the ministry has instructed contractors to make alternative routes for easy movement [...]

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    Customs: Nigeria subsidising petrol for neighbouring countries

Customs: Nigeria subsidising petrol for neighbouring countries

Hameed Ali, comptroller-general of the Nigeria Customs Service (NCS), says Nigeria has been subsidising petrol for neighbouring countries. Ali made this known on Tuesday at a budget-defence meeting of a house of representatives committee. He said the service decided to halt petrol supply to border communities to curb the smuggling of the product to neighbouring countries. Ali alleged that some fuel stations situated [...]

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    Zimbabwe increases fuel prices for the second time in one week

Zimbabwe increases fuel prices for the second time in one week

Zimbabwe has increased petrol prices despite most pumps remaining dry, with no end in sight to shortages that are helping drive inflation rapidly higher. On July 13, fuel prices were hiked by up to 16% after Mthuli Ncube, Zimbabwe finance minister, said fuel was considerably cheaper in Zimbabwe than in neighbouring countries. Ncube had said he would like to see the price [...]

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    No plan to increase pump price, says NNPC

No plan to increase pump price, says NNPC

The Nigerian National Petroleum Corporation (NNPC) has dismissed reports that it is planning to increase the price of premium motor spirit (PMS) better known as petrol. In a statement, Ndu Ughamadu, group general manager, group public affairs division of NNPC, said mischief makers are behind the reports. During a visit to Senate President Ahmad Lawan on Wednesday, Mele Kyari, group managing director [...]

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    Botswana halts under recoveries, raises petrol pump price twice in a month

Botswana halts under recoveries, raises petrol pump price twice in a month

The Republic of Botswana has raised the retail pump prices for petrol, diesel and illuminating paraffin for the second time in the space of a month. In a statement on Wednesday, the Botswana Energy Regulatory Authority (BERA) said the retail pump prices for petrol, diesel, and illuminating paraffin will all be increased from 00:01 on Thursday, November 15. The country had increased the [...]

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    MURIC: Another attempt might be made to cause fuel scarcity

MURIC: Another attempt might be made to cause fuel scarcity

The Muslim Rights Concern (MURIC) has called on the federal government to be on the lookout for “sponsors” of artificial petroleum scarcity towards the end of the year. In a statement by Ishaq Akintola, MURIC director, the group described the scarcity as an “annual phenomenon, asking the government to avoid  a repeat of the situation in 2018. The group blamed the scarcity [...]

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    Nigeria is ‘eighth cheapest country to buy petrol’

Nigeria is ‘eighth cheapest country to buy petrol’

Nigeria is the eighth cheapest place in the world to buy petrol according to a report by Bloomberg. The report explained that Nigeria's selling price of N145 (equivalent to $0.40 per litre) and $1.52 per gallon makes it one of the 10 cheapest places in the world to buy gasoline compared to a global average of $1.12 per litre. The report said [...]

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    PDP asks Nigerians to reject ‘plot’ to hike pump price

PDP asks Nigerians to reject ‘plot’ to hike pump price

The Peoples Democratic Party (PDP) has asked Nigerians to reject any attempt by the federal government to hike the pump price of petrol. There have been reports that the current administration is planning to increase the price of petrol but Ibe Kachikwu, minister of state for petroleum resources, has assured Nigerians that the price would remain at N145 per litre. Kola Ologbodiyan, [...]

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    Kachikwu: I didn’t write any memo to Buhari on petrol scarcity

Kachikwu: I didn’t write any memo to Buhari on petrol scarcity

Ibe Kachikwu, minister of state for petroleum resources, has denied sending a memo to President Muhammadu Buhari on the petrol scarcity. In the memo, reportedly dated July 27, Kachikwu was said to have alerted the president on the likely shortage of petrol. But in a statement by Idang Alibi, director of press in the ministry, Kachikwu said the message and its content [...]

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    Why Buhari MUST sell our refineries NOW!

Why Buhari MUST sell our refineries NOW!

Year 2017 is ending like its brothers, 2014, 2015, and 2016, featuring at least one major economy-wrenching fuel scarcity. The year is rounding up with biting scarcity of petroleum products, especially petrol, in every nook and cranny of Nigeria. The errors and deceptions of yesterday finally caught up with us as a people, and we have to pay dearly for [...]

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NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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