Tag: Petrol
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Marketers finally hike Petrol Price to N170-N190/litre
Premium Motor Spirit popularly known as petrol will now be sold between N170/litre and N190/litre in filling stations across the country, following what is believed to be a subtle agreement between Federal Government officials and oil marketers. The development was the outcome of a meeting between the Nigerian Midstream and Downstream Petroleum Regulatory Authority and…
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Rising subsidy’ll stop states from paying salaries – Governors
The Nigeria Governors’ Forum has lamented that the subsidy on petroleum products, especially Premium Motor Spirit (petrol), has placed a huge financial burden on the states. The forum, which is the umbrella body for the 36 governors of the federation across party lines, made this known in a memo forwarded to the House of Representatives.…
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Prepare For Worst Fuel Scarcity, Petrol Marketers alert Nigerians
The Independent Petroleum Marketers Association of Nigeria has asked Nigerians to prepare for the worst fuel crisis. To avoid this, the petrol marketers association asked the Federal Government to prevail on the Nigerian Midstream and Downstream Petroleum Regulatory Authority to pay its members their outstanding bridging claims amounting to over N500 billion. The IPMAN chairman…
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Subsidy hits N1.35tn in four months
The subsidy on Premium Motor Spirit, popularly called petrol, between January and March 2022 has risen to N675.93bn. This is according to the latest data got from the Nigerian National Petroleum Company Limited on Wednesday. Also, the NNPC has informed the Federation Account Allocation Committee that it will deduct or recover N671.88bn from April 2022…
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Fuel Subsidy Will not be Removed Now – Ahmed Lawan
Senate President Ahmed Lawan has assured Nigerians that subsidy on Petroleum Motor Spirit, PMS, will not be removed for now as being reported by some social and conventional media. Mr Lawan stated this when he fielded questions from State House correspondents after a closed-door meeting with President Muhammadu Buhari on Tuesday in Abuja. According to…
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Petrol may sell above N340/litre, Marketers Plan Imports amidst Forex Crisis
The pump price of Premium Motor Spirit, popularly called petrol, may go higher than the projected N340/litre in February 2022 when the Federal Government removes its subsidy on the commodity, oil marketers said on Tuesday. Also, it was gathered that both independent and major oil marketers were perfecting plans to resume PMS imports once the…
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Petroleum Landing cost hits N249/litre
The cost of petroleum imported into the country has increased to about N249.42 per litre on the back of global crude oil prices. The rise in the cost of petrol means increased subsidy as the pump price of the product remains steady at N162-N165 per litre. Petrol subsidy, which was removed in March 2020, resurfaced…