Tag
IPMAN
President Bola Ahmed Tinubu has said that he is targeting states and local governments to roll out compressed natural gas (CNG) buses as a solution to ease the burdens created by the removal of fuel subsidies in May 2023.
Oil Mrketers have explained why its members needed to sell their stock of petrol at the new prices to remain in business.
The increases were not uniform as some states were reportedly selling for N620, while others sold for N640 per litre.
Checks by Nairametrics on Tuesday, July 18, revealed that some fuel stations in Abuja, the Federal Capital Territory (FCT) were selling fuel at N640 per liter
The impact of Brent crude price increase on Nigeria’s downstream sector and the country’s fuel pump price will not be immediate.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised concerns that the increased rate of incidents of pipeline vandalism in the Southwest region, has seen some depots stop operations for over ten years.
In the past month, Nigerians have been actively exploring the possibility of converting their vehicles to operate on natural gas due to a significant increase in fuel prices.
Nigeria’s Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied reports that it plans to increase the pump price of Premium Motor Spirit (PMS) also known as petrol to N700 per litre nationwide.
Oil marketers in the country may still not afford full premium motor spirit (fuel) orders following a new directive issued by the Nigerian National Petroleum Company (NNPC) Limited over the weekend.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that it is prepared to dispense compressed natural gas (CNG) at its filling stations across the country.
The NLC President said the Federal Government seems to have shown interest in discussion over the fuel subsidy removal as the meeting has been fixed for 2pm on Wednesday as other issues will be discussed.
The Nigerian National Petroleum Company (NNPC) Limited has just confirmed the change in petrol prices.