Tag
PETROL PRICES
The Federal Government has said the petrol discount at NNPC Retail Limited stations is funded entirely by the retailer’s margins, not the federal budget or the Federation Account.
Former Vice President Atiku Abubakar has rejected the Federal Government’s proposed 30-day fuel discount at NNPC stations, saying the temporary intervention will not provide lasting relief from high fuel, transport and food costs.
The Federal Government says it is offering a discount on petrol sold by the Nigerian National Petroleum Company Limited (NNPCL) for the next 30 days.
South Africa’s petrol price has hit a record $1.82 per litre as the Iran conflict drives a sharp increase in global oil prices.
Global oil markets remained under pressure in September as the conflict in the Middle East kept crude prices above $100 per barrel, while...
The CEO of Rainoil Ltd, Dr. Gabriel Ogbeche has stated that the current high price of fuel in Nigeria is primarily driven by the exchange rate and not necessarily the price of crude oil in the international market.
The Comptroller-General of the Nigeria Customs Service (NCS), Adewale Adeniyi has ordered the auction of seized petrol in Adamawa at N630 per litre.
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has raised concerns about the rising petrol pump prices in Lagos and Abuja, warning that this could trigger a cycle of economic hardship across the country.
A new report by CardinalStone research has noted that the increase in petrol prices by the NNPC in the past few weeks is unlikely to affect food inflation in the country.
The Minister of State for Petroleum Resources (oil) Sen. Heineken Lokpobiri has stated that the availability of supply of petrol prices will result in the stability of prices across the country.
The federal government is considering granting Aliko Dangote’s refinery the authority to set petrol prices, according to reports from Bloomberg.
The Management of the Dangote Group has come out to clarify media reports that the NNPC has begun off taking petrol from its refinery at N897 per liter stating that it cannot fix, influence petrol prices in the country since it is responsibility of the relevant regulatory agencies.