In a significant development for Nigeria’s energy sector, the Nigerian National Petroleum Corporation Limited (NNPCL) has commenced the loading of Premium Motor Spirit (PMS), commonly known as petrol, at the Dangote Petroleum Refinery in Ibeju-Lekki, Lagos. This marks a major milestone in the country’s efforts to boost local fuel production and reduce dependency on imports. Read More…
The Nigerian National Petroleum Company (NNPC) Ltd. has refuted claims of an imminent rise in the cost of Premium Motor Spirit (PMS), also known as petrol, urging citizens to dismiss unfounded speculations regarding a potential fuel price hike. Mr. Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd., reaffirmed this stance in a statement Read More…
The National Bureau of Statistics (NBS) has released its comprehensive reports on fuel prices, revealing an alarming surge in October 2023 compared to previous years. The average retail price of petrol experienced a substantial upswing from N195.29 in October 2022 to a staggering N630.63 in the same month of 2023, marking a significant 222.92 per Read More…
The National Bureau of Statistics (NBS) has issued a concerning report, revealing that the average retail price of a litre of petrol in Nigeria skyrocketed from N191.65 in September 2022 to a staggering N626.21 in September 2023. This dramatic increase, amounting to a colossal 226.75 per cent surge, was brought to light in the NBS’s Read More…
Consumers spent on average N191.65 for a litre of fuel in September, according to data from the National Bureau of Statistics (NBS) made public on Saturday. According to its “Premium Motor Spirit (Petrol) Price Watch” for September 2022, the average price was N164.85, up 16.26% from September 2021. “When compared to the previous month of Read More…
Minister of State for Petroleum Resources, Mr Timipre Sylva, on Wednesday in Abuja updated the Federal Executive Council (FEC) on the availability of 1.9 billion litres of petrol. He said the quantity was enough to last the country for 32 days. Group Managing Director of the NNPC, Mr Mele Kyari, accompanied the minister to the Read More…
Lagosians have been assured of a good supply of petroleum products at Christmastime. This is the assurance provided by Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Giving the assurance in an interview with the News Agency of Nigeria (NAN), Zonal Operations Controller, Ayorinde Cardoso, said: “There is product sufficiency in Lagos with about 341,908,000 Read More…
