Tag
PETROL PRICE
Nigerians, particularly commuters and motorists, continue to struggle as Nigerian National Petroleum Corporation Limited (NNPCL) filling stations have once again raised petrol prices in Lagos and Abuja.
The importation of premium motor spirit (PMS), commonly known as petrol, into Nigeria has significantly declined in the first two weeks of October as the Dangote Refinery increases production to meet local demand.
The Federal Government has authorised petroleum marketers to lift petrol directly from the Dangote refinery, bypassing the Nigerian National Petroleum Company Limited.
The Nigeria National Petroleum Company Ltd (NNPCL) has confirmed that it bought petrol from Dangote refinery at N898 per litre and has so far received 16.8 million litres of PMS.
The Vice President, Downstream at the Nigerian National Petroleum Company, Adedapo Segun has stated that the current pump price of petrol is not market reflective and could be higher.
The management of Dangote Group has firmly refuted circulating reports that it has set the pump price of petrol at N600 per liter for sale to marketers nationwide.
The average retail price of Premium Motor Spirit (Petrol) in Nigeria for May 2024 surged by 223.21% to N769.62 per litre, compared to N238.11 per litre in May 2023.
The average retail price of a liter of Petrol has jumped by 230.75% from N189.46 in August of the previous year to N626.70 in August 2023.
There was a 3.87% reduction in the average petrol price in April 2023, according to the National Bureau of Statistics.
As expected, the development has left many Nigerians frustrated
The latest petrol price watch report by the National Bureau of Statistics revealed that consumers paid the highest...
The average pump price of premium motor spirit (popularly known as Petrol) increased by 0.2% in June 2019. This is revealed in the latest Petrol price watch data released by the [@nigerianstat]