Tragedy averted as tanker laden with PMS overturns in Ogun
Tragedy was averted on Saturday as a tanker, laden with 33,000 litres of Premium Motor Spirit (PMS) overturned at Lombardy Area, Oju-Ore, in Ogun.
Why new petrol regulation won’t achieve downstream deregulation
Though the Federal Government backed its determination to exit payment of subsidy on Premium Motor Spirit (PMS) with a regulation...
Oil marketers demand pricing formula, legislation to sustain monthly adjustments
Operators in the downstream sector of the oil and gas sector have asked the Federal Government to unveil a pricing formula that will guide the monthly adjustments in the pump price of premium motor spirit (PMS) other wise known as petrol in order to avoid dislocations at the retail end of the value-chain.
Nigerians spend ₦2.5 trillion on petrol in one year
Between February 2019 to February 2020, Nigerians spent ₦2.5 trillion on 20.8 billion litres of Premium Motor Spirit (PMS) otherwise called petrol, Nigerian National Petroleum Corporation (NNPC) said yesterday.
OPS seeks FG’s intervention over diesel pump price
Members of the Organised Private Sector (OPS) have petitioned President Muhammadu Buhari, through the Director-General of the Federal Competition and Consumer Protection Council FCCPC
‘Nigeria must remove petrol subsidy to address economic quagmire’
Social Integrity Network (SINET) yesterday asked President Muhammadu Buhari to discontinue payment of subsidy on Premium Motor Spirit (PMS) as part of measures to cushion the effect of failing oil prices and block leakages in the scheme.
Residents flee as another petrol tanker falls in Onitsha
It was pandemonium yesterday in the bursting commercial centre of Onitsha, Anambra State when residents took to their heels to escape a possible explosion immediately a tanker laden with Premium Motor Spirit (PMS) fell into a ditch along Enugu-Onitsha Expressway by Chipex Filling Station, spilling its content.
‘Nigeria losing N1,085t daily to fuel smuggling’
Daily, an estimated seven million litres of Premium Motor Spirit (PMS), better known as petrol, valued at N1, 085t is smuggled from Nigeria to neighbouring West African countries. With daily consumption of about 52 million litres of petrol per day according to the Department of Petroleum Resources (DPR)
Transporter returns N2.2bn mistakenly paid into his account
The Managing Director of Peace Mass Transit (PMT), Dr. Maduka Onyishi, says he has returned the sum of N2.2 billion, which was wrongly paid into his First Bank of Nigeria account.
Subsidy on PMS, electricity: Stakeholders weigh options
The unending subsidy regime on Premium Motor Spirit and government’s continuous intervention in the power sector do not only drain the nation’s economy, but also retard the development of oil and gas, as well as the power sector. Some economic experts and stakeholders are of the view that subsidy payment itself does not constitute an…
Country has 1.7b litres of petrol in stock, says NNPC
As Christians celebrate Easter, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, said the country has over 1.7 billion litres of Premium Motor Spirit (PMS) in stock. Assuring that the product is enough to meet demand over the next 35 days, Baru reaffirmed their readiness to ensure adequate supply all…