Fuel Price Archives - Page 3 of 5

Fuel Price Hike: �Nigerians are suffering� – CAN tells FG

July 23, 2023July 23, 2023 Aminu Imam

Christian Association of Nigeria (CAN) has faulted the decision of the Federal Government to remove subsidy on petroleum products without adequate provision of palliatives to cushion the sufferings that would, expectedly, accompany the decision. Its President, Archbishop Daniel Okoh, in an issued statement on Friday, expressed deepest concerns of CAN over the prevailing hardships faced by Nigerians arising from the fuel subsidy removal, and called for immediate steps to mitigate the situation. While CAN agreed that there was huge corruption that shrouded the fuel subsidy regime, it insisted that some…

Fuel Price Hike: �FG unfair to Nigerians� – CUPP

July 20, 2023July 20, 2023 Aminu Imam

The Coalition of United Political Parties, (CUPP), yesterday faulted the hike in the price of fuel, describing it as crazy and driving inflation to the rooftops. The CUPP, in an issued statement by its co-Spokesperson, Mark Adebayo, in Abuja, frowned at the sudden increase barely a month after the fuel price was hiked over 300 percent. He said, �It has come to the attention of the CUPP the sudden and surreptitious increase yet again in the pump prices of petrol by NNPCL which has immediately started having negative domino effects…

Why petrol pump price increased to N617/litre � NNPCL

July 19, 2023July 19, 2023 Aminu Imam

Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, (NNPCL), Mele Kyari, has explained that the rise in petrol pump prices in Nigeria is due to market forces. Recall that it had earlier been reported that the president Bola Tinubu-led federal government has increased the pump price of Petroleum Motor Spirit, popularly known as petrol. The increment followed the adjustment of fuel prices from N539 to N617 by filling stations in the Federal Capital Territory, (FCT) and other parts of the country. Speaking on the development, Mele Kyari,…

Petrol price to crash as NNPCL, Marketers fuel vessels set to arrive next week

July 4, 2023July 4, 2023 Aminu Imam

The pump price of Premium Motor Spirit (PMS), otherwise called petrol, is expected to crash as major oil marketers are importing large consignments. According to major and independent dealers, the fuel is expected to hit Nigeria next week. The development is said to have boosted the confidence of operators as industry observers say this may force down the price of the commodity. Also, crude oil refiners were currently releasing refined petroleum products on credit to dealers from Nigeria. This is due to the recent unification of the country�s exchange. Meanwhile,…

�No plan to increase fuel to N700 per litre� � IPMAN

July 2, 2023July 2, 2023 Aminu Imam

Nigeria�s Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied reports that it plans to increase the pump price of Premium Motor Spirit (PMS), popularly known as petrol, to N700 per litre nationwide. This was disclosed by the Chairman of IPMAN South-West zone, Dele Tajudeen,?who stated this? in an interview with the newsmen yesterday. The Marketers urged Nigerians to disregard the reports, stating that the price would not be more than what is being sold. Tajudeen?stressed that the price of the product would not be more than what is being…

Petroleum Marketers project N700/litre for petrol pump price

June 30, 2023June 30, 2023 Aminu Imam

The Independent Petroleum Marketers Association of Nigeria, (IPMAN), has projected that the pump price of petrol could rise above N700 per litre in some States in the country starting from July. IPMAN�s National Controller Operations, Mike Osatuyi, who disclosed this during an interview, said they�ve projected that those living in northern part of the country could pay as much as N700 and above for one litre of petrol, while residents of Lagos would pay about N600 for a litre and those outside Lagos would pay around N610. Osatuyi said the…

Subsidy: APC Govs. blame marketers for scarcity, price hike

June 3, 2023June 3, 2023 Aminu Imam

State governors of the ruling All Progressives Congress, (APC), have accused oil marketers of inflicting pains on Nigerians by hoarding fuel supply after President Bola Tinubu�s announcement on Monday on the discontinuance of fuel subsidy. The governors, under the aegis of the Progressive Governors� Forum, (PGF), stated this during a courtesy visit to the President at the Presidential Villa. Addressing State House correspondents in Abuja yesterday, the Chairman of PGF and Governor of Imo State, Hope Uzodinma, condemned the price increase on what he described as �old stock�, and called…

Subsidy: ‘Petrol price will come down’, says NNPC

June 2, 2023June 2, 2023 Aminu Imam

The Group Chief Executive Officer, Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, has allayed the fear of Nigerians on the rising prices of Premium Motor Spirit, otherwise known as petrol, across the country. Speaking in an interview on a television programme yesterday, Kyari said the removal of subsidy would allow new entrants into the market, a move he said, would aid competition and phase out monopoly. This, he claimed, would ensure healthy competition which would ultimately lead to a downward review of pump prices of petroleum across the country.…

NNPCL confirms petrol price increment

June 1, 2023June 1, 2023 Aminu Imam

�Announces new fuel price across States The Nigerian National Petrol Company Limited, (NNPCL) yesterday confirmed the upward review of pump prices of Premium Motor Spirit, (PMS), popularly known as petrol, across the country. Less than 24 hours after President Bola Tinubu declared an end to fuel subsidy, the pump price of petrol ballooned to N600 per litre from N195/l in many parts of the country. Consequently, there was a 100 percent hike in transport fares, while long queues resurfaced at fuel stations across Lagos, Abuja, Kaduna, Ilorin, Benin, Asaba, Port…

N195/litre Pump Price: Showdown looms, as fuel marketers plan shutdown today��

February 6, 2023February 6, 2023 Aminu Imam

Independent marketers of Premium Motor Spirit, popularly called petrol, plan a lockdown on their operations beginning today, Monday once the Federal Government starts enforcing the N195/litre pump price. It was gathered at the weekend that the Nigerian National Petroleum Company Limited (NNOCL), Major Oil Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association of Nigeria, Independent Petroleum Marketers Association of Nigeria (IPMAN), security agencies, and the downstream regulator had all agreed that petrol is sold at N195/litre. Oil marketers said the agreement was reached at a meeting in Abuja…