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As Nigerians eagerly await the release of Premium Motor Spirit, popular known as petrol, from the $20bn Dangote Petroleum Refinery, the Nigerian National Petroleum Company Limited says it will lift the product from the plant on September 15 but outlined factors that would determine its price. It said foreign exchange rates and market forces would influence the cost of petrol, stressing that the market had been deregulated. This came as […]
The Dangote Petroleum Refinery is set to roll out the sale of Premium Motor Spirit, otherwise known as petrol This is coming a few days after the 650,000-capacity refinery engaged in a test-run of the product. Industry sources confirmed to our correspondent that the product would hit the market soon. The sources, who pleaded anonymity, told our correspondent that the government and the Dangote Group were working out modalities for […]
Many filling stations operated by independent oil marketers have now fixed the pump prices of Premium Motor Spirit, popularly called petrol, at between N900 and N1,000/litre. Owners of these stations seem not to care about the cost of the product at retail outlets operated by the Nigerian National Petroleum Company. Petrol prices at NNPC stations range from N568 to N617/litre. This often leads to queues at the stations. As Nigerians […]
Marketers blame supply shortage, NNPC keeps mum Nigerians have expressed anger and frustration over the prolonged scarcity of Premium Motor Spirit, popularly called petrol, across various states nationwide. It was observed on Wednesday that the scarcity of petrol led to widespread queues by motorists at filling stations in Abuja, Kaduna, Niger, Adamawa, Kano, Bauchi, and Delta, among others. Although the queues were not severe in the South-West, findings showed that […]
There are strong indications that the Dangote Petroleum Refinery may not roll out petrol on Monday in line with its earlier schedule. The President, Dangote Group, Alhaji Aliko Dangote, had last month projected that the refinery would begin the production of petrol between August 10 and 12, 2024.
No oil marketer is going to buy Premium Motor Spirit, popularly called petrol, from the Dangote Petroleum Refinery and sell at the prevalent pump prices at filling stations in Nigeria except the Nigerian National Petroleum Company Limited, operators in the downstream oil sector have declared. On July 15, 2024, The PUNCH reported that the President of Dangote Industries Limited, Alhaji Aliko Dangote, announced that the $20bn refinery was set to […]
Fuel scarcity is gradually surfacing in Lagos and other parts of the country as private depot owners hiked the ex-depot price of petrol from N630 to N720 per litre. This came as fuel scarcity deepened in Abuja and the adjoining states on Sunday with some filling stations dispensing PMS as high as N900/litre. Our correspondents report that a number of filling stations in Lagos, Ogun and some states have run […]
The Federal Government, on Monday, raised the alarm over the renewed smuggling of Premium Motor Spirit, popularly called petrol, following the massive hike in the pump price of the commodity in neighbouring countries. It stated that while the average price of petrol in Nigeria was about N701/litre, the average cost of the product in neighbouring countries was N1,787/litre, a development that heightened PMS smuggling out of Nigeria in the past […]
•N520bn monthly fuel import expected to drop as Dangote begins supply June The Federal Government may cut its approximately N6.2tn yearly fuel import bill if the Dangote Petroleum Refinery begins the sale of premium motor spirit as promised by the Chairman of the Dangote Group, Aliko Dangote. Dangote, while speaking at the Africa CEO Forum Annual Summit in Kigali, Rwanda on Friday, assured Nigerians that following the laid-down plans of […]
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