Fuel Price Archives - Page 2 of 5

‘Fuel Price may skyrocket to N5,000/litre’ – NLC

September 8, 2024September 8, 2024 Aminu Imam

The Nigeria Labour Congress (NLC) has expressed serious concerns over the continuous rise in fuel prices, warning that Nigerians could soon be paying as much as N5,000 per litre if current trends persist. Speaking in a published interview yesterday, spokesperson for the NLC, Benson Upah, said the latest fuel price hike directly contradicts an agreement reached between the union and the Federal Government. Upah revealed that the NLC is planning to hold a meeting with its key organs to determine the union�s next course of action. He indicated that the…

Nigerians lament, as petrol price hits N1,200/litre in Kano, N855 at NNPCL stations

September 4, 2024September 4, 2024 Aminu Imam

Fuel prices have increased across the country, leading to scarcity in major filling stations, which has led to transport price increase for passengers plying the roads. The news of the price increase broke yesterday morning, with reports indicating that the Nigerian National Petroleum Company Limited (NNPCL) retail outlets had adjusted their meters from N568 per litre to N855 per litre in Lagos. The situation has led to widespread fuel queues, causing significant disruptions across Lagos and other parts of the country. The Premium Motor Spirit (PMS), better known as petrol,…

“Remove Kyari; reform NNPC, or fuel price will hit N1,200” � Primate Ayodele tells Tinubu

September 3, 2024September 3, 2024 Aminu Imam

Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele has urged President Bola Tinubu to sack the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, (NNPCL, Mele Kyari. Primate Ayodele’s call, made yesterday, warned that of Tinubu fails to sack Kyari and reform the NNPC, the price of fuel would increase to N1200/litre. The popular cleric was reacting to NNPCL�s admission that the company owes �significant debt to petrol suppliers�, saying the development poses a threat to the sustainability of fuel supply in the country. It has…

Protests: ‘Reduce fuel price to barest minimum @N180/ltr’ – N�Delta Youths tell Tinubu

August 4, 2024August 4, 2024 Aminu Imam

As the #EndBadGovernance national protest enters day three, a socio-political group in the South-South, the Niger-Delta Youth Council has called on President Bola Tinubu to �address the main cause of the protest by reducing fuel price to N180 per litre, or the barest minimum, for the sake of the national economy�. In an issued statement yesterday, jointly signed by the NDYC President, Bene Mamamu and Secretary, Onitsha Shedrack, copies of which were made available to newsmen in Warri, Delta State, the group specifically urged Tinubu to �revisit some of his…

Fuel Scarcity: Oil Marketers give reasons, as filling stations adjust pumps to new price

July 8, 2024July 8, 2024 Aminu Imam

Petrol filling stations across Nigeria have adjusted their pump prices from N62 per litre to new prices, following the scarcity of Premium Motor Spirit (PMS), also known as petrol, especially in Abuja. However, the new scarcity is majorly felt by residents of Abuja and other northern States like Jigawa, Kebbi. The new scarcity comes amid reports that Nigerian National Petroleum Company Limited (NNPCL) owes around $3 billion to fuel traders for imported petrol. Oil marketers are blaming the NNPC for the new scarcity. The marketers under the Petroleum Products Retail…

Marketers speak on new petrol price

March 27, 2024March 27, 2024 Aminu Imam

The price of petrol has crashed from N640 per litre to N630 per litre. According to the Independent Petroleum Marketers Association of Nigeria (IPMAN), National President, Abubakar Maigandi, the market started responding positively, as soon as the private depots got a wind of the Nigeria National Petroleum Company Ltd, (NNPCL)’s assurance to supply petrol directly to the independent marketers. He said, �The price has started reducing, since NNPCL is giving independent marketers their direct allocation. NNPCL said they will give us direct product instead of taking it to private depot…

�NIMASA, NPA dollarisation of charges will affect petrol pump price� – Oil marketers

March 9, 2024March 9, 2024 Aminu Imam

Major downstream marketers under the umbrella of the Major Energies Marketers Association of Nigeria, (MEMAN), have raised alarm that the country may face more challenges in the petroleum products distribution and supply chain, going by the current foreign exchange market intricacies. The Executive Secretary of the Association, Clement Isong, made this known at a media forum organised by the association on Thursday, in Lagos. Isong lamented that the market and Nigerians will bear the final brunt of Government policy that allows Nigeria Ports Authority (NPA ) and the Nigerian Maritime…

Dispute with Marketers: NNPCL denies petrol price increment to N1, 200

January 4, 2024January 4, 2024 Aminu Imam

… Says subsidy �entirely removed� The Nigerian National Petroleum Company (NNPC) Limited has debunked reports that it plans to increase the price of petrol to N1, 200 per litre. Reports emerged yesterday that NNPC will announce a new increase in the price of fuel across the country. However, reacting to the report which has generated mixed reactions, NNPC said there are no plans to hike the price of fuel. The statement, which was signed by the NNPC’s Group Communications, Officer, Olufemi Soneye, read: �NNPC Ltd emphasises that it has not…

FG warns petrol stations operators against adjusting fuel pumps�

September 24, 2023September 24, 2023 Aminu Imam

The Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), says it will sanction fuel stations operators who alters petroleum pumps at petrol filling stations. NMDPRA Chief Executive, Farouk Ahmed, stated this during an interactive session with commissioners of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) on Friday, in Abuja. Ahmed said that petrol stations caught dispensing fuel with adjusted fuel pumps would face heavy sanction. According to him, the sanctions to be meted out include revocation of operating licenses, suspension from operation or shut down depending on the gravity…

Crippling Economy: “Probe Kyari, Nigerians deserve to know true petrol landing cost � PDP Chieftain

August 15, 2023August 15, 2023 Aminu Imam

A member of the People Democratic Party (PDP), National Presidential Campaign Council, Adetokunbo Pearse, says Nigerians have a right to know the actual landing cost of Premium Motor Spirit, (PMS), otherwise known as petrol. Dr Pearse, speaking on a television programme yesterday, stated that a thorough scrutiny should be carried out on the Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, over the fluctuation of landing cost. According to him, �The way you solve a problem is to go to the source. Let the President go and…