SAMUEL MOBOLAJI Oil marketers have confirmed that the Federal Government has resumed issuing petrol and diesel import licences to close supply gaps in the downstream market, as local refineries remain unable to consistently meet Nigeria’s domestic demand. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) approved the move as a stabilisation measure to prevent […]
By SAMUEL MOBOLAJI Oil marketers have dismissed reports that some retail outlets are selling petrol cheaper than the ₦739 per litre benchmark set by Dangote Petroleum Refinery, describing such claims as speculation. According to the Independent Petroleum Marketers Association of Nigeria (IPMAN), only MRS filling stations, affiliated directly with Dangote Refinery, currently sell at the […]
Major oil marketers under the aegis of the Major Oil Marketers Association of Nigeria (MOMAN) has attributed the current fuel scarcity and long queues at filling station being witnessed across the country to the exceptionally high demand for the product, and distribution challenges. The association also said that the high logistics and exchange rate costs […]
Oil marketers and retailers have kicked against the plan by the Nigerian Customs Service, NCS to re-introduce a N1.50k tax regime on petroleum products. Recall that the Comptroller General of NCS, Col Hammed Alli (Retd), had at the budget defence of the Service told the Senate that the revenue-generating agency has asked the Federal Government […]
The Major Oil Marketers Association of Nigeria (MOMAN) has expressed concern over the N154 billion loss recorded by Nigeria’s three refineries in the 2018 audited accounts published by the Nigerian National Petroleum Corporation (NNPC). Chairman of MOMAN, Mr. Tunji Oyebanji, said in Lagos on Wednesday, that the loss recorded by the Kaduna, Warri and Port […]
The Petroleum Products Pricing Regulatory Agency (PPPRA) says it will continue to advise oil marketers on the pump price of the Premium Motor Spirit (PMS), generally known as petrol. The agency, in a statement by its Executive Secretary, Abdulkadir Saidu on Sunday in Abuja, said that marketers were not allowed to fix prices of products. […]
Oil marketing companies and players of other sectors are among the beneficiaries of the promissory notes issued by the Federal Government, and valued at N968.09 billion, the Debt Management Office (DMO) has revealed. The DMO, in a document obtained from its website showed that as at Feb. 29, the oil marketing companies were issued N266.07 […]
A Group, the Buhari Media Organisation (BMO) has cautioned oil marketers against indulging in scare mongering and blackmail over a debt burden inherited from the previous administration saying it’s a terror tactic. The oil marketers had issued a seven-day ultimatum to shut down operations at all depots over N800 billion oil subsidy debt. The group […]