Otedola: How Oil Marketers Used Depot Licences To Siphon N2trn Under Jonathan
Billionaire businessman Femi Otedola has revealed that over N2 trillion was stolen through fake petrol subsidy claims during former President Goodluck Jonathan’s government. According to him, depot licences were the main tool used for this massive corruption. Otedola, in his statement, also supported the Dangote Petroleum Refinery in its ongoing clash with the Depot and Petroleum Products Marketers Association of […]
Fuel price nears N1,000 per litre in Nigeria as marketers, retailers trade blame
Fuel prices across Nigeria are nearing N1,000 per litre, sparking blame between petroleum marketers and retail fuel station owners. As Nigerians struggle with the rising cost of living, this increase in fuel prices is only adding more pressure. Earlier this week, it was reported that the Nigerian National Petroleum Company Limited (NNPCL) increased fuel prices […]
HURIWA Claims Tinubu Uses Fuel Price Hikes to Enrich His Cronies
The Human Rights Writers Association of Nigeria (HURIWA) has raised serious concerns about the ongoing rise in fuel prices, claiming that it is part of a deliberate agenda by President Bola Tinubu to benefit his close associates. HURIWA argues that these constant price hikes are not driven by market forces but are part of a […]
NLC Blames Dangote and Oil Marketers for Raising Petrol Prices in Nigeria
The Nigeria Labour Congress (NLC) has raised alarm over what it calls the inflation of petrol prices by Dangote Group and other oil marketers in Nigeria. In a statement released after its National Executive Council meeting on Friday, the NLC highlighted concerns about the high price of petrol, which currently ranges between N1,060 and N1,200 […]
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 […]
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 […]
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 […]
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 […]
We’ll Supply Only what We Have – Oil Marketers – Fuel scarcity
Nigeria is currently experiencing fuel scarcity, and oil marketers have revealed that this is due to ongoing logistics challenges. Billy Gillis-Harry, the President of the Petroleum Products Retail Outlets Owners Association (PETROAN), explained in a recent interview that marketers are supply-constrained, meaning they can only distribute the fuel they have on hand. This shortage has […]