Fuel scarcity is imminent, as the Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has ordered fuel tanker drivers to withdraw their services in Lagos beginning from Monday. According to the leadership of the union, the decision became imperative as a result of failure by various bodies in the state to address three major […]
President Muhammadu Buhari By Magnus onyibe. The bitter and sweet policies of gradually abolishing fuel subsidy regime and guided floating of the naira might have taken a long time in coming-nearly six years. But as the saying goes, it’s better late than never. And with the current developments in the monetary market and in the […]
Fuel pump The recent increment in petrol pump price to over N140 has no doubt generated criticism from Nigerians in the last couple of days. Timipre Sylva, the Minister of State for Petroleum Resources, while reacting to the criticisms stated that at no time did the federal government promised to keep the price of petrol […]
By Olasunkanmi Akoni Men of the Lagos State Fire Service and State Emergency Management Agency, LASEMA, have been deployed to Ayobo, Ipaja area of the state to prevent a possible outbreak of fire following the alarm raised by residents over spillage of substance suspected to be Premium Motor Spirit, PMS, popularly called petrol from a […]
…Says its intervention on pricing would be advisory A fuel pump (stock photo). By Michael Eboh In a clear reversal of its ‘Market Based Pricing Regime for Premium Motor Spirit (PMS) Regulations, 2020,’ released June 4, 2020, which removed the price cap on fuel and which said the price would, henceforth, be determined by market […]
Fuel shipped from Iran began arriving at Venezuela’s gasoline stations on Saturday, just hours before President Nicolas Maduro announced higher prices at the pump
The groups said they support fuel subsidy removal but demand accountability in the use of the freed resources The post Group demands framework for fuel subsidy removal, oil licensing round appeared first on Premium Times Nigeria.
<p class="">The Institute for Energy Security (IES) is projecting between 16% and 24% reduction in the prices of fuel on the local market in the first pricing-window for April 2020.</p> <p class="">The IES explained that the significant drop is due to the 33.36% decrease in the price of Brent crude, coupled with the considerable drop […]
By Michael Eboh The Nigerian National Petroleum Corporation (NNPC), yesterday, said it has activated measures to guarantee seamless distribution of petrol across the country throughout the lockdown and beyond. In a statement in Abuja, Managing Director of the Petroleum Products Marketing Company (PPMC), the NNPC’s downstream subsidiary, Mr. Musa Lawan, disclosed that the PPMC workforce […]
<p class="">A total of 66 filling stations across the border communities of Nigeria has reopened for commercial activities in order to ease fuel scarcity in those areas.</p> <h1>The Acting Coordinator of the the Border Drill Operation, Sector 3, Compt. Garba Mohammed, disclosed this in an interview with the News Agency of Nigeria (NAN) in Ilorin […]
With the plunge in crude oil prices, the government had no option than to respond to dynamics of the international crude oil market. The post How govt arrived at new N125 per litre fuel price – Official appeared first on Premium Times Nigeria.