Nigerians to buy petrol N162 per litre from next Monday
The Nigerian National Petroleum Corporation (NNPC) had agreed to slash N5 from N167.44 per litre during the negotiations with labour that ended early Monday morning. The Minister of Labour and Employment, Dr Chris Ngige, who spoke after the negotiations, stated that the reduction would bring down the pump price of Premium Motor Spirit (PMS) to…
FG no longer fixing petrol price – Sylva
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has reiterated that the federal government is no longer fixing the pump price of petroleum products in the country.
Petrol price jump from N138 to N151
The Petroleum Products Marketing Company (PPMC) has increased the price of petrol from N138.62 per litre to N151.56 per litre. "Please be informed that a new product price adjustment has been effected on our payment platform," PPMC said in a memo to industry stakeholders. "To this end, the price of premium motor spirit (PMS) is…
NLC asks FG to reverse hike in petrol price
Leaders of the Nigerian Labour Congress (NLC) have frowned at the recent increase in the pump price of petrol from N121 to N143 per litre, describing the hike as exploiting Nigerians to enrich a few oil marketers.
DPR warns IPMAN members against selling petrol above official pump price
The Department of Petroleum Resources (DPR) , Osogbo Field Office, has warned members of the Independent Petroleum Marketers Association (IPMAN) against selling petrol above the official pump price.
Assuming role of PPPRA, NNPC reduces petrol price to N108
Though the Petroleum Products Pricing Regulatory Agency’s (PPPRA) is officially empowered to regulate the price of petroleum prices in the Nigerian National Petroleum Corporation (NNPC) yesterday took over the role by reducing the pump price of the Premium Motor Spirit otherwise called petrol from N113.28k per litre to N108.00K per litre across all its products loading facilities as well as in its through put operations.
Marketers call for price liberalisation of petrol against price modulation
The oil marketers, under the umbrella of Major Marketers Association of Nigeria (MOMAN), on Thursday called for full price liberalisation of Premium Motor Spirit (PMS), commonly known as petrol, instead of price modulation.
Buhari approves reduction in petrol price to N125
Nigeria President Muhammadu Buhari on Wednesday approved the reduction of the pump price of the Premium Motor Spirit (PMS) also known as petrol. "Mr President has approved that Nigerians should approve from the reduction in the price of PMS which is a direct effect of the crash in global crude oil prices," Nigeria's state for…
Government mulls new petrol pricing model
The Federal Government is considering a review of pricing policy for Premium Motor Spirit (PMS) also known as petrol, to save the Nigerian National Petroleum Corporation (NNPC) from the burden of under-recovery in the downstream sector.