The Federal Government may spend about N236 billion monthly to subsidise the Premium Motor Spirit, popularly called petrol, that is imported through the Nigerian National Petroleum Company and the one that is solely off-taken by NNPC from the Dangote Petroleum Refinery. On Monday, the President and Chief Executive of Dangote Group, Alhaji Aliko Dangote, called […]
Some automobile experts have said that cars using Compressed Natural Gas save 70 per cent in maintenance and running expenses compared to those running on Premium Motor Spirit. They made the assertion during separate interviews with the News Agency of Nigeria in Abuja. Speaking on the benefits of converting cars from using petrol to CNG, […]
The Federal Government has called on agencies recruiting for the private sector to adhere to the N70,000 minimum wage, warning that any deviation would not be tolerated. According to the FG, the new minimum wage is necessary to address the current economic reality, emphasising that no Nigerian worker, whether in government or private employment, should […]
Petroleum marketers in Nigeria say they are standing in limbo over the controversy surrounding Dangote Refinery Premium Motor Spirit (petrol) pricing as released by the Nigerian National Petroleum Company Limited on Monday. This comes as the petroleum marketers demanded that Dangote Refinery should disclose the price it sold petrol to NNPCL for transparency. Marketers further […]
The Nigerian National Petroleum Company Limited has said that it will sell the petrol lifted from the Dangote Refinery at a price above N1,000 per litre in the far north. The NNPC spokesperson, Olufemi Soneye, disclosed this on Monday, in a statement titled, ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based […]
The Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin, has insisted that the refinery can survive without local patronage and would export most of its products if boycott from local oil traders continue. Edwin, who spoke during a Brekete Family live show, said like the refinery is currently exporting diesel and […]
Nigeria’s downstream petroleum industry may have gone into a frenzy, following clear indications that the Federal Government may no longer sustain the cost of under-recovery, otherwise known as subsidy, due to a the steady rise in petrol import bills. Industry operators told Vanguard yesterday that it is now clear that pump price may be officially […]
Former President Olusegun Obasanjo has said that those benefiting from the lucrative business of fuel importation are going to make efforts to frustrate the Dangote Petroleum Refinery. Obasanjo stated this in the wake of allegations by the President of the Dangote Group, Alhaji Aliko Dangote, that some ‘mafias’ were making efforts to frustrate the $20bn […]
The number of vehicles imported into the country fell sharply by 60.4 per cent, year-on-year, YoY, to 10,991 in the first half of this year, H1’24, reflecting the impact of the naira depreciation and general economic downturn. This was contained in the report of the just concluded quarterly meeting of the Nigerian Port Consultative Council, […]
Nigeria’s importation of petroleum from Malta has skyrocketed to 43 folds, amounting to $2.08 billion in 2023. A report by Businessday noted that data sourced from Trade Map, a global database on international trade statistics, showed Nigeria imported petroleum oils and oils obtained from bituminous minerals worth $2.8 billion in 2023, a 342 percent increase […]