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, […]
Petrol Prices in Nigeria Could Increase Again, According to Marketers
Nigerians might soon see an increase in petrol prices. Oil marketers are raising concerns due to the rising cost of crude oil, which has hit around $78 per barrel. This situation could lead to more challenges for people who rely on petrol for their daily needs. Billy Gillis-Harry, the President of the Petroleum Products Retail […]
Nigeria at 64: Optimism Grows for Fuel Price Drop as Citizens Face Hardships
As Nigeria celebrates its 64th Independence Day, the nation finds itself at a crossroads. While the country faces significant economic challenges, there is growing optimism from oil marketers and refiners that the price of petrol may drop soon. This hope stems from the new Naira-for-crude deal between the Federal Government and Dangote Refinery, which launched […]
House of Representatives Demands Transparency from Dangote Refinery on Petrol Pricing
In a recent session, the House of Representatives of Nigeria has called on Aliko Dangote, the owner of Dangote Refinery, to disclose the prices at which he sells petrol to the Nigerian National Petroleum Corporation (NNPC) Limited and other major marketers. This motion was brought forward by Oboku Oforji and highlights ongoing disputes regarding the […]
Dangote Says It’s Time for Nigeria to Stop Petrol Subsidy
In a recent interview, Aliko Dangote urged the Nigerian government to stop petrol subsidies, stressing it is no longer sustainable for the country. Aliko Dangote, the founder of Dangote Petroleum Refinery, has called for an end to Nigeria’s petrol subsidy. In a conversation with Bloomberg TV on Monday, September 24, he explained why it’s the […]
Dangote Officials and Refiners Challenge Marketers Over Imported Petrol
The ongoing tension between domestic oil refiners and major oil marketers in Nigeria has reached a new level, with Dangote Refinery officials strongly criticizing the importation of low-quality Premium Motor Spirit (PMS), also known as petrol. This comes after the commencement of large-scale fuel imports by some oil marketers, despite the availability of locally refined […]
Major Oil Marketers to Import 141 Million Litres of Petrol Despite Local Production
In a notable development in Nigeria’s oil sector, three major oil marketers are set to import a total of 141 million litres of petrol this week. This importation comes despite the ongoing local production of petrol at the Dangote refinery. The primary reason for this large-scale importation is the recent deregulation of the downstream oil […]
Lukman Accuses Dangote Refinery and NNPC of Manipulating Petroleum Prices
Dr. Salihu Lukman, a former Vice Chairman of the All Progressives Congress (APC) in the North-West, has criticized the pricing of petroleum products since the Dangote Refinery started production. He claims that both the Dangote Refinery and the Nigeria National Petroleum Company Limited (NNPCL) are manipulating fuel prices to create a monopoly that harms Nigerian […]