CBN refutes reports of involvement in oil sector forex use
The Central Bank of Nigeria has dismissed reports claiming it disbursed $1.259 billion to big oil companies for importing fuel and other petroleum products. According to the apex bank, the report is false and misleading. In a statement released by the bank’s spokesperson, Hakama Sidi Ali, the CBN clarified that the quoted $1.259 billion figure […]
NiMet forecasts 3-day sunshine, haziness
Dangote Petroleum Refinery has reduced the price of Premium Motor Spirit (PMS), also known as petrol, from N950 to N890 per liter. While this move is great news for consumers, it has created serious financial challenges for fuel marketers who had already purchased petrol at the higher price. The price cut was likely influenced by […]
Dangote Price Slash: Marketers With Imported Fuel Fear Losses
Dangote Petroleum Refinery has reduced the price of Premium Motor Spirit (PMS), also known as petrol, from N950 to N890 per liter. While this move is great news for consumers, it has created serious financial challenges for fuel marketers who had already purchased petrol at the higher price. The price cut was likely influenced by […]
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 […]