Tag "petrol"

    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, [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    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, [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    ‘Buhari’s supporters should unfollow me’ ‘Petrol stations now collect gate fee’ — social media boils over fuel scarcity

‘Buhari’s supporters should unfollow me’ ‘Petrol stations now collect gate fee’ — social media boils over fuel scarcity

For the third week running, fuel has been a scarce commodity in the country.From Lagos to Abuja to Enugu, Kaduna, fuel queues have taken over major roads. The situation has grown worse despite assurances from the Nigerian National Petroleum Corporation (NNPC).Some aggrieved Nigerians decided to vent on Twitter.Here are some tweets on the situation:https://twitter.com/SaniKadiri/status/944277733303050241 I just bought fuel N300 after queuing [...]

0 comment Read Full Article
    Black marketers rejoice as fuel hits N350 per litre in Kaduna

Black marketers rejoice as fuel hits N350 per litre in Kaduna

Black marketers in Kaduna state are having a field day as a result of the hike in the price of petrol.Many filling stations in the ancient city have been closed, forcing motorists to patronise those selling the product between N300 and N350 per litre.Long queues of vehicles were seen at different black market spots on the outskirts of the city.Fuel scarcity has [...]

0 comment Read Full Article
    Kachikwu speaks on cause of fuel scarcity

Kachikwu speaks on cause of fuel scarcity

Ibe Kachikwu, minister of state for petroleum resources, says the major cause of the fuel scarcity across the country is the shortfall in supply of petroleum products.Kachikwu made this known at a news conference in Abuja on Thursday.He, however, said the Nigerian National Petroleum Corporation (NNPC) was making efforts to ensure that queues at filling stations disappear in a couple of [...]

0 comment Read Full Article
    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, [...]

0 comment Read Full Article
    Future of oil declining, Osinbajo warns as countries discover alternatives

Future of oil declining, Osinbajo warns as countries discover alternatives

Vice-President Yemi Osinbajo has said the profitability of Nigeria's oil is gradually declining.Speaking during the second national council on Niger Delta meeting held in Akure, Osinbajo said the plan by many countries to phase out cars that run on petrol and diesel in a no-distant future poses a huge threat to Nigeria.He said some countries have even discovered "alternatives for [...]

0 comment Read Full Article
Advertisement
Advertisement
Advertisement
Advertisement

Advertisement

Exchange Rates

January 20, 2019USDGBPEUR
INTERBANK306397354
LAGOS355444389
KANO354445370
PH355447412
ABUJA356454413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement