The Nigerian National Petrol Company (NNPC) has officially announced an increase in petrol prices following President Bola Tinubu’s declaration of an end to subsidies. Mele Kyari, the first group CEO of NNPC, explained that the price hike is a result … Continue reading Kyari: Nigerians are lucky petrol price remains below N1000 per litre
Protests erupted in Benin City, the capital of Edo State, as hundreds of residents took to the streets to demonstrate against the Federal Government’s removal of fuel subsidy. The protesters, carrying placards, demanded an immediate reversal of the pump price … Continue reading Protesters in Edo State disrupt activities, express outrage over high petrol prices
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 National Bureau of Statistics (NBS) has reported a decline in the average retail price of petrol in Nigeria. According to the NBS Petrol Price Watch released in Abuja, the average price per liter dropped from N264.29 in March to … Continue reading Nigeria’s petrol prices: Decline in April and year on year increase
National Bureau of Statistics (NBS) has released its Petrol Price Watch report for March 2023, indicating that the average retail price of petrol per litre has risen to N264.29 from N185.30 in March 2022. This represents a 42.63% increase in … Continue reading NBS: Petrol price up by 42.63% per litre in one year
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 Shell Petroleum Development Company of Nigeria (SPDC) has denied allegations of violating Nigerian Content laws at the EA fields in Bayelsa. The Ijaw Youth Congress had accused SPDC of excluding indigenous players from its operations at the EA fields, … Continue reading SPDC denies violating Nigerian Content Law at EA fields in Bayelsa
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
Oil marketers have written to the Federal Government proposing to build 30,000 gas stations to cushion the impact of the proposed subsidy removal on petrol. With the projected June 2023 date for subsidy removal looming, Nigerians are concerned about potential … Continue reading Oil marketers propose building 30,000 gas stations and seeking CBN loans to cushion subsidy removal impact
Nigeria is seeing a surge in oil earnings following improvements in security in the Niger Delta region. According to figures obtained from the Federal Ministry of Petroleum Resources, the country’s oil production rose by 1.014 million barrels per day in … Continue reading Nigeria’s crude oil earnings rose above 300 billion naira in just three months. Read full story!
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