AGS NEWS – Labour Party’s 2023 presidential candidate, Peter Obi, criticized the recent fuel price hike, calling it “unfortunate and insensitive.” In a post on X.com, Obi highlighted the negative impact of the increase on Nigeria’s economy and citizens. The … Continue reading Fuel price hike unfortunate, insensitive, says Peter Obi
AGS NEWS – The President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo, has highlighted the reasons behind the persistent fuel queues at filling stations across the country. Speaking at the 2024 PENGASSAN Energy … Continue reading Why fuel queues persist – PENGASSAN
AGS NEWS – Former President Olusegun Obasanjo has warned that those benefiting from the profitable fuel importation business may try to hinder the operations of the Dangote Petroleum Refinery. This statement follows allegations from Aliko Dangote, President of the Dangote … Continue reading Why fuel importers will frustrate Dangote – Obasanjo
AGS NEWS – Many depots for Premium Motor Spirit (petrol) are currently dry, leading to fuel scarcity and long queues in Lagos, Ogun, Abuja, Niger, and other states. Black marketers have taken advantage of the situation, selling petrol for as … Continue reading Fuel rises to N1,300/litre as depots run dry
AGS NEWS – The Association of Senior Civil Servants of Nigeria (ASCSN) has urged the Federal Government to reveal the alleged individuals responsible for the persistent fuel scarcity in the country. During the association’s National Executive Council (NEC) meeting in … Continue reading Tension on Nigerian govt to expose cabals behind fuel scarcity
Uganda’s Energy Minister presented a bill to parliament, aiming to grant exclusive importation rights for petroleum products in the country to Bahraini firm Vitol. The proposed changes to the petroleum law have already been approved by Uganda’s cabinet. Historically, the … Continue reading Uganda strikes petroleum importation deal with Bahraini company
In a meeting held on Monday, domestic airlines, operating under the umbrella of the Airline Operators of Nigeria (AON), urged the Federal Government to permit AON to obtain the necessary license for importing and distributing JetA1 aviation fuel. They called … Continue reading Domestic airlines call for jet fuel import license and forex access
The Federal Government of Nigeria is projected to spend approximately N1.68 trillion on fuel subsidy for Premium Motor Spirit (PMS), commonly known as petrol, between September and December 2023. This estimate is based on data provided by oil marketers and … Continue reading FG projects N1.68trn fuel subsidy expense as marketers predict N900/litre fuel price
Oil marketers have advised President Bola Tinubu to gradually ease the removal of subsidy on Premium Motor Spirit (PMS) due to challenges faced by importers in accessing US dollars and the resulting impact on businesses. This recommendation was made amid … Continue reading Fuel marketers express discontent as government rejects fuel price increase
The Senior Special Assistant to the President on Media and Publicity, Tope Ajayi, dismissed rumors on Tuesday of any intentions by President Bola Tinubu’s administration to reintroduce fuel subsidies. Ajayi took to the social media platform X (formerly known as … Continue reading Presidential spokesperson confirms no plans to reintroduce fuel subsidy amidst fuel hike concerns
The National Economic Council of Nigeria is currently in session at the Presidential Villa in Abuja. This meeting comes just two days after the Nigerian National Petroleum Company Limited raised the petrol pump price from N540/litre to N617/litre, sparking outrage … Continue reading NEC holds meeting amid fuel price hike and economic concerns
The Peoples Democratic Party (PDP) criticized the All Progressives Congress-led Federal Government for the recent increase in the pump price of Premium Motor Spirit (PMS) or fuel from N534 to N617 per litre. In a statement, the National Publicity Secretary … Continue reading PDP condemns federal government for N617 per litre fuel price
According to the Federal Government, the volume of Premium Motor Spirit (PMS), commonly known as petrol, consumed in Nigeria during the first half of 2023 amounted to 11.26 billion litres. However, after the subsidy on petrol was removed following President … Continue reading FG reports 18.5 million litres decrease in monthly fuel consumption following deregulation
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has foreseen a potential surge in the pump price of petrol, estimating that certain states in the country could experience prices exceeding N700 per litre starting from July. In an interview with … Continue reading Fuel marketers predict petrol price to reach N700 per litre in Nigeria
The residents of Anambra State faced difficulties in reaching their destinations as commercial transport operators raised fares by over 100% due to a fuel scarcity that affected major cities in the state. The price of petrol on the black market … Continue reading Commuters in Anambra cry out as fuel scarcity hits, causing disruptions
Omoyele Sowore, the presidential candidate of the African Action Congress (AAC), has expressed his belief that President Bola Tinubu is on the verge of encountering a nationwide resistance due to his “thoughtless petrol subsidy policy.” Taking to Twitter, Sowore alleged … Continue reading Tinubu to will encounter national resistance over fuel subsidy – Sowore
Traders in Abuja are expressing their frustration over the increase in transportation fares caused by the rise in petrol pump prices. In interviews with the News Agency of Nigeria, they shared their disappointment and highlighted the challenges they are facing. … Continue reading Abuja traders express concerns over rising transport fares impacting business
Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), addressed concerns over the increasing prices of petrol, also known as Premium Motor Spirit (PMS), across the country. Kyari stated that competition among major players … Continue reading Petrol price will reduce as subsidy measures take effect – NNPC boss
The pump price of petrol, also known as Premium Motor Spirit (PMS), skyrocketed to N1,200 per litre in Abakaliki, the capital of Ebonyi State. This increase came after President Bola Tinubu announced the removal of subsidy on the product. The … Continue reading Petrol price soars to N1,200 per litre in Ebonyi state
The Edo state government has issued a warning, stating that any fuel station discovered hoarding petrol will have its land ownership revoked. The country witnessed fuel scarcity in various regions on Monday, May 29, shortly after President Bola Tinubu declared … Continue reading Edo state government threatens land revocation for fuel stations engaging in petrol hoarding
The Osun State Government issued a warning on Tuesday, stating that it would take action to seal off filling stations in the state that are found to be hoarding petrol. The statement, signed by the governor’s spokesman, Olawale Rasheed, emphasized … Continue reading Osun state government threatens to seal off fuel stations engaging in petrol hoarding
The planned removal of petroleum subsidy by the end of President Muhammadu Buhari’s tenure has been put on hold by the National Economic Council (NEC), as announced by the Minister of Finance, Budget, and National Planning, Mrs. Zainab Ahmed. The … Continue reading Just In: NEC puts on hold the removal of fuel subsidy
The Federal Government has disclosed that Nigeria has spent a total of N13 trillion ($74 billion) on subsidizing Premium Motor Spirit, commonly known as petrol, between 2005 and 2021. This revelation was made during a policy dialogue on oil swap, … Continue reading Federal Government reveals that Nigeria lost N29tn due to fuel subsidies and oil theft
The House of Representatives has summoned Attorney-General Abubakar Malami and Minister of Finance, Zainab Ahmed, in relation to a $2.4 billion revenue probe concerning the alleged illegal sale of 48 million barrels of crude oil export from 2014 to 2015. … Continue reading Finance minister, AGF, Accountant General summoned over alleged $2.4 billion crude oil fraud probe
The Nigeria Union of Petroleum and Natural Gas workers (NUPENG) is set to announce its stance on the contentious topic of fuel subsidy removal for Premium Motor Spirit (PMS), commonly known as petrol, after its National Executive Council (NEC) meeting. … Continue reading Buhari urged to suspend fuel subsidy removal and engage with marketers
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