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, […]
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 […]