Tag: fuel

FG issues fresh fuel import licenses to petrol marketers

Aminu Imam
FG issues fresh fuel import licenses

In a new policy shift, the Nigerian government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), resumed issuance of petrol import licenses to petroleum marketers.  The licenses were issued to six petroleum marketers expected to import around 720,000 metric tons of Premium Motor Spirit (petrol). According to reports, the move is a policy shift from a focus on local refineries, in this case the Ɗangote Refinery.  Beneficiaries are major oil marketers such as NIPCO, AA Rano, Matrix, Shafa, Pinnacle, and Bono. NIPCO is expected to import 120,000 metric…

Read More

FG halts petrol import licences, as Ɗangote Refinery supplies 92% of Nigeria’s fuel

Aminu Imam
FG halts petrol import licences

The Federal Government has halted the issuance of petrol import licences for a second consecutive month, a move that has effectively prioritised domestic refinery production, and allowed the Ɗangote Refinery to dominate fuel supply in Nigeria. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) show that no petrol import licences were issued in February, while the Crude Oil Refineries Association of Nigeria (CORAN) confirmed that none have been granted so far in March. Under the provisions of the Petroleum Industry Act (PIA), import licences can only be…

Read More

Fuel: Ɗangote Refinery bypasses marketers, begins direct supply to major consumers

Aminu Imam
Dangote Refinery bypasses

Ɗangote Refinery has announced a major shift in its fuel distribution strategy, revealing that it will begin supplying premium motor spirit (PMS) and automotive gas oil (diesel) directly to large-scale consumers such as manufacturers, telecommunications companies, the aviation sector, and other heavy users. The 650,000 barrels-per-day facility shared the update via a statement posted on its official X account on Sunday, noting that the new supply initiative will commence on August 15, 2025. This move marks a departure from the traditional reliance on fuel marketers, as the refinery takes full…

Read More

“We’re no cabal; we only have vested interest just like you” – Petroleum marketers tell Ɗangote

Aminu Imam
Petroleum marketers & Ɗangote2

The Depot and Petroleum Products Marketers Association of Nigeria, (DAPPMAN) says no cabal in the midstream and downstream sector, just individuals with vested interests. Recall that on May 1, president of the Ɗangote Group, Aliko Ɗangote, said he was still fightingcabals for the survival of his $20 billion refinery — subsequently describing “cabals” as some major oil marketers and traders. However, speaking in a televised interview on Friday, the Executive Secretary of DAPPMAN, Olufemi Adewole, described the use of “cabals” by Ɗangote as being “negative” and “subversive”. “There is no…

Read More

Power Outage: Filling Stations reduce hours of fuel sell in Kaduna due to high diesel consumption

Abdul-Azeez Ahmed Kadir

Major oil marketers in Kaduna metropolis and environs have drastically reduced their hours of operations as a result of high consumption of diesel which they utilised to service the motoring public. This has led to queues by motorists who have to buy within the limited time in the filling stations across the state, despite the availability of the products in some of the stations. A visit by Voice of Liberty to some of the major stations saw some selling for between 6 and 8 hours, then shut down to sell…

Read More

?angote Refinery to transport 75% of fuel by sea to cut costs

Aminu Imam
?angote Refinery transport

?angote Refinery plans to transport 75% of its local petroleum product supply through sea routes to key locations like Warri, Port Harcourt, and Calabar, despite having the capacity to load 83% by road. This strategic shift aims to reduce the higher costs associated with road distribution, Vice President of Oil & Gas at ?angote Industries Limited, Devakumar Edwin, explained. As the ?angote Refinery officially began petroleum loading on Sunday, billionaire industrialist, Femi Otedola praised the Tinubu administration for facilitating the project, remarking that fuel queues are now a thing of…

Read More

Fuel: NNPC again cautions motorists, others against panic-buying

Aminu Imam
NNPCL

The Nigerian National Petroleum Company, (NNPC), Limited has warned motorists and the public against panic buying of Premium Motor Spirit (PMS), commonly referred to as petrol. In an issued statement, signed by the  NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, yesterday, said the corporation emphasised that the supply and distribution of petrol across the nation have witnessed significant improvements. According to Soneye, NNPC officials have conducted thorough monitoring of filling stations in various States, including Lagos and the Federal Capital Territory (FCT), where he said the queues have notably decreased.…

Read More

World Bank N750 per litre advise to Nigeria shows it is an enemy of the people – NLC

Abdul-Azeez Ahmed Kadir

The Nigeria Labour Congress (NLC) has condemned the advice by the World Bank to the Federal Government to increase petrol prices to N750 per litre . Mr Joe Ajaero, NLC President, said this on Friday in Abuja in a statement, titled; World Banks N750 per litre for premium motor spirit is a threat to Nigerians economy. It would be recalled that the World Bank Lead Economist for Nigeria, Mr Alex Sienaert, offered the advice recently during a presentation of the Nigeria Development Update, Dec. 2023 edition. The economist had noted…

Read More

Adjusted Fuel Pumps: NMDRRA to sanction erring stations

Abdul-Azeez Ahmed Kadir

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it will sanction fuel stations operators who alter petroleum pumps. Mr Farouk Ahmed, NMDPRA Chief Executive, said 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. He said that the sanctions to be meted out include revocation of operating licenses, suspension from operation or shut down depending on the gravity of the offence.…

Read More

Fuel demand down by 30% NNPC GMD, Kyari

Aminu Imam

Fuel demand has declined by 30 percent since President Bola Ahmed Tinubu announced the removal of fuel subsidies in May. Group Managing Director (GMD) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, disclosed this at a media briefing yesterday, in Abuja. According to the GMD, who was seated beside the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the fall in fuel demand from approximately 66.7 million litres daily before the removal of subsidies to approximately 46 million today means a 30% reduction in NNPCLs demand for foreign…

Read More