The Case Against High-Cost Fuel For Nigerians
In Nigeria, producing fuel locally is a promising development. However, setting high prices for this fuel is making life harder for many Nigerians. Even though these prices are meant to align with global standards, they don’t consider the financial challenges that ordinary people in Nigeria face. With the country’s oil resources, there’s an opportunity to […]
Dangote Refinery Denies Selling PMS Between N1, 015, N1, 028/Litre
Recently, there has been a lot of talk about the price of petrol from the Dangote Refinery. Some reports claimed that the refinery was selling petrol at a rate between N1,015 and N1,028 per litre. However, Dangote Refinery quickly denied these claims, calling them “fake news” on their official X (formerly Twitter) account on November […]
Filling Stations Raise Fuel Prices as Marketers Source Petrol from Dangote
As Nigerians face rising fuel prices, a new change has emerged in the way petrol is sourced. Recently, the federal government approved independent marketers to buy fuel directly from the newly launched Dangote refinery. This decision allows marketers to bypass traditional suppliers and access petrol locally. However, with the Nigerian fuel market now deregulated, market […]
We Have Over N40bn Outstanding With NNPC – IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has recently addressed a significant delay in receiving petroleum products from the Nigerian National Petroleum Company Limited (NNPCL). According to Abubakar Garima, IPMAN’s President, association members currently have over N40 billion in outstanding product supplies with NNPCL, awaiting their long-due delivery. Garima raised these concerns during an […]
Supply Enough Petrol For Local Consumption, Tinubu Tells Dangote, Others
President Bola Ahmed Tinubu is pushing for Nigerian refineries to focus on supplying fuel for local use rather than relying on imports. This shift aims to strengthen Nigeria’s economy by reducing the constant pressure on foreign exchange and promoting the local oil industry. At a recent meeting held at the State House in Abuja, Tinubu […]
Dangote Refinery to Withdraw Lawsuit Against NNPCL and Other Companies
Dangote Refinery has decided to withdraw its court case against the Nigerian National Petroleum Corporation Limited (NNPCL) and five other companies involved in the importation of petroleum products. This clarification comes after some confusion about the ongoing legal situation. The lawsuit also names Aym Shafa Limited, A. A. Rano Limited, T. Time Petroleum Limited, 2015 […]
Dangote Petrol: IPMAN and PETROAN Suggest Potential Price Decrease
Nigeria has been grappling with soaring fuel prices, but a glimmer of hope is on the horizon as petroleum marketers prepare to buy petrol directly from the Dangote Refinery. With the Nigerian National Petroleum Company Limited (NNPC) no longer acting as a middleman, this shift is expected to reduce the cost of fuel for Nigerian […]
Femi Falana Calls Out NNPCL for Illegal Petrol Price Fixing, Citing Violation of Petroleum Industry Act
In recent developments, prominent human rights lawyer, Femi Falana, has publicly criticized the Nigeria National Petroleum Company Limited (NNPCL) for fixing petrol prices, which he says is a violation of the Petroleum Industry Act (PIA). Falana’s critique has sparked significant debate, particularly given the rising fuel prices that have unsettled Nigerians in recent months. At […]
NNPC Ends Exclusive Purchasing of Petrol from Dangote Refinery
In a significant development in Nigeria’s oil industry, the Nigerian National Petroleum Company Limited (NNPCL) has officially ended its role as the sole buyer of petrol from Dangote Refinery. This change means that petrol marketers will now need to purchase fuel directly from the refinery, marking a shift in the dynamics of fuel distribution in […]
Nigeria Begins Naira-for-Crude Oil Sales from October 1, 2024
The Nigerian government has officially begun selling crude oil and refined petroleum products in exchange for naira, starting October 1, 2024. This initiative, known as the naira-for-crude program, is aimed at strengthening the local currency and improving the availability of petroleum products throughout the country. By eliminating the need for foreign currency in these transactions, […]