Tag: Fuel Price

Federal Government apologizes; disowns PPPRA announcement

The Minister of States for Petroleum, Timipre Sylva, has disowned the increase in the price of petrol as announced earlier by the Petroleum Products Pricing Agency, PPPRA. Mr Sylva said neither he nor President Muhammadu Buhari had approved the decision to increase the retail price to N212 per litre. The[Read More…]

NNPC says there will be no increase in fuel pump price in March

The Nigerian National Petroleum Corporation (#NNPC) has ruled out any increment in the ex-depot price of petrol in March, 2021 contrary to widespread speculation of such a move. A press release by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, stated that the Corporation was not contemplating[Read More…]

Federal Government slashes petrol price by N5

The meeting between the federal government and organised labour has ended in Abuja, resulting in a reduction in the price of petrol and labour getting a commitment from the government that the distribution of free prepaid metre will begin soon across the country. The five-hour long meeting agreed that the[Read More…]

Fuel Price: Federal Government to help marketers access forex for easy imports

The Federal Government will make the dollar accessible to oil marketers in order to make the importation of petrol into Nigeria competitive and help reduce the increasing cost of petrol. The National President, Independent Petroleum Marketers Association of Nigeria, Chinedu Okonkwo, informed journalists on Monday that petroleum product dealers would[Read More…]

Fuel Price Hike: APC government is not being honest with Nigerians – PDP

The Peoples Democratic Party (PDP), Friday rejected the increase in the pump price of fuel to N170 per liter, describing it as wicked, unbearable and unacceptable, particularly given the prevailing excruciating economic crunch already foisted on Nigerians by President Muhammadu Buhari administration. In a statement signed by Kola Ologbondiyan, National[Read More…]

As Petrol Scarcity Bites Nationwide, Ayodele Fayose of Ekiti Orders Sale of Petrol at N145/L for his People

Ayodele Fayose, governor of Ekiti, says he has ordered 80 percent of the petrol in the government house dump to be pumped out and sold at N145 per litre. The governor, who disclosed this in a series of tweets, said he “cannot keep fuel in the government house while people[Read More…]

NNPC Towers

NNPC Denies Plans To Increase Fuel Price

The Nigerian National Petroleum Corporation (NNPC) has denied reports of plans to increase fuel price. This is coming on the heels of a report which says because of forex scarcity, the NNPC may increase fuel price. Reacting to the report, NNPC Group Managing Director, Maikanti Baru after a closed door[Read More…]

Fuel Scarcity Hits Abuja As Black Marketers ‘Set’ Template For N250 Per Litre

Fuel scarcity continues to bite hard in Abuja, as a litre of fuel is currently going for about N250 in some parts of the Federal Capital Territory. According to investigation from the Punch, black market operators have replaced filing stations as the only means of purchasing the product, using jerry[Read More…]

No Plans to Increase Pump Price of Petrol – Alison-Madueke

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, Tuesday said the federal government had no plans to increase the pump price of petrol. At the 2014 budget defence of the ministry and its parastatals before the House of Representatives Committees on Petroleum Resources (Upstream and Downstream) and Gas. Alison-Madueke said[Read More…]