Iran war: Expert forecasts Strait of Hormuz blockade effects on Africa
An expert has warned that any closure of the Strait of Hormuz due to the ongoing Iran war could have serious consequences for Africa. Ronald Mlalazi said the route handles a large portion of global oil shipments, making it critical for many African economies. He explained that beyond fuel, the route also supplies fertilisers, gas, […]
Philippines declares national emergency over Middle East war following fuel crisis
The Philippines has declared a national emergency following a worsening fuel crisis linked to the ongoing conflict in the Middle East. Authorities say the situation has begun to affect daily life and economic activities. Government officials explained that disruptions in global oil supply have led to rising fuel prices and shortages. The crisis is largely […]
M-East war: Hardship deepens with petrol selling at N1,300 per litre
Rising tension in the Middle East has begun to affect fuel prices in Nigeria, with petrol now selling for about ₦1,300 per litre in some areas. The increase has added more pressure on households and businesses already struggling with high living costs. The spike in fuel prices is linked to the ongoing conflict involving Israel, […]
PETROAN intervenes to halt Nigeria shutdown over unpaid N100bn bridging claim
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has taken action to prevent a nationwide fuel crisis by engaging the government over unpaid bridging claims. PETROAN’s President, Billy Gillis-Harry, said the association has started discussions with the Nigerian government to ensure the payment of N100 billion owed to petroleum marketers. This move comes […]
Fuel Imports Reach 2.3 Billion Litres Despite Dangote and Port Harcourt Refineries
Nigeria’s fuel imports have surged to 2.3 billion litres between September 11 and December 5, 2024, even though the Dangote and Port Harcourt refineries have begun production. This continued importation has raised questions about Nigeria’s fuel supply strategy. The Dangote Refinery, with a production capacity of 650,000 barrels per day, started operations on September 15, […]
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 […]
Nigerians Struggle as Petrol Prices Soar Above N1,000 per Litre
Nigerians are feeling the pinch as petrol prices soar above N1,000 per litre in many areas across the country. This sharp increase in fuel prices has caused widespread concern among citizens. In response to the crisis, Dangote Refinery has started producing Premium Motor Spirit (PMS). The Lagos-based refinery, which can handle 650,000 barrels of oil […]
Peter Obi calls on the Nigerian government to Support Dangote Refinery
Peter Obi, a former presidential candidate from the Labour Party, has urged the Federal Government to support the Dangote Refinery. He believes the refinery is crucial for Nigeria’s economy and overall well-being. Obi’s comments came after Aliko Dangote, the owner of the refinery, mentioned that the government was not cooperating with him. As a result, […]