News

Petrol scarcity to worsen as IPMAN threatens strike over N200bn debt

DailyTimesNGR DailyTimesNGR 1 May 2024 0

This country is witnessing a near-nationwide petrol scarcity, with fuel queues springing up across major cities of the country, but this may uninterestingly get worse. This is because the Independent Petroleum Marketers Association of Nigeria (IPMAN), has threatened to cripple the supply of

Headlines

How FX market intricacies down petrol importation

DailyTimesNGR DailyTimesNGR 11 March 2024 0

By Temitope Adebayo The country’s petroleum products distribution and supply chain may face more challenging complexities, considering the current foreign exchange market intricacies. Major Energy Marketers Association of Nigeria (MEMAN) at the weekend complained that the perplexity of the forex market uncertainty has stopped members from embarking on Premium Motor

Headlines

Fuel crisis looms as tanker owners set to stop lifting petrol Monday

Ihesiulo Grace 16 February 2024 0

By Franklyn Nwachukwu Nigerians may be in for another long spell of petrol scarcity as the Nigerian Association of Road Transport Owners (NARTO) has hinted at plans to stop lifting petrol from Monday. The association’s National President,Alhaji Yusuf Lawal Othman, dropped the hint in a statement on Thursday I. Abuja. NARTO cited unsustainable operational costs […]

News

Petrol price hits N1,000 per litre in Abuja

Ihesiulo Grace 11 October 2023 0

The petrol scarcity in Abuja took a new turn on Tuesday, October 10, with retailers selling the product for as high as N1,000 per litre. This is even as long queues have returned to the streets of Nigeria’s capital city — a reflection of the crisis rocking the downstream sector of the petroleum industry. Politics […]

News

Hike in petrol pump price: Protests rock Edo

Ihesiulo Grace 31 January 2023 0

BY TITUS AKHIGBE Tension was high yesterday in Benin City following the various protests that rocked the city centre of the state due to the hike in the petrol pump price. The protesters barricaded various strategic places leading to the adjoining streets within the capital city. Noticeable among the protest groups are the Edo State […]

Headlines

Petrol scarcity: Protesters block Lagos-Benin Expressway

Ihesiulo Grace 28 January 2023 0

Protesters, mainly youths, on Thursday, blocked the Lagos Benin Expressway at Oluku Junction to express their grievance about the rise in fuel prices and the scarcity of the product. Commuters, who were on their way to Lagos and those hoping to do business in the area, were stranded for long hours. The transporters also lamented […]

Business

Nigeria to spend $7.5bn on petrol subsidy to mid-2023

Ihesiulo Grace 5 January 2023 0

Nigeria will keep its costly but popular petrol subsidy until mid-2023 and has set aside 3.36 trillion Naira ($7.5 bn) to spend on it, Finance Minister Zainab Ahmed said on Wednesday. Africa’s biggest economy spent 2.91 trillion Naira ($7 billion) towards a petrol subsidy between January and September 2022, state-owned firm NNPC said, a cost […]

Headlines

FG to spend N19.76trn in 2023, ends petrol subsidy in June

Ihesiulo Grace 30 August 2022 0

By Tom Okpe The Federal Government has proposed an aggregate expenditure of N19.76 trillion for the 2023 financial year, with a projected deficit of N11.30 trillion, saying that subsidy payment for Premium Motor Spirit, popularly called petrol, will end in June, next year. The government is also projecting the total revenue of N8.46 trillion, out […]

News

Nigeria’s petrol imports increased by 55% in nine months

Ihesiulo Grace 9 December 2021 0

Latest findings reveal that the cost of Premium Motor Spirit, or petrol, imported into the country from January to September 2021 had surged by half to N2.52tn from the N1.62tn spent in the same period last year, amid the government’s plans on removing subsidy by early 2022. According to the National Bureau of Statistics, the […]

News

Fuel Hike: We”ll organise one million march to stop NGF – Niger Delta Group

Ihesiulo Grace 28 May 2021 0

By Kingsley Chukwuka The proposed petrol pump price hike from N162 to N385 per litre by the Nigeria Governors Forum’s (NGF), has generated reaction from a Niger Delta Group, the Ogoni Libration Initiative (OLI), warning that if implemented will meet a resistance of over one million people on the streets of Nigeria. “We will organise […]

News

No petrol price hike in June, says FG

Ihesiulo Grace 21 May 2021 0

The Federal Government on Friday said it would not increase petrol price in June despite the recommendation by the Nigeria Governors Forum that the cost of the commodity is increased. A committee set up by the Nigeria Governor’s Forum had on Wednesday recommended a petrol price of between N408.5/litre and N380/litre, and also called for […]

News

Brace for high cost of petrol, Federal Govt tells Nigerians

Ihesiulo Grace 10 February 2021 0

…Says there is no provision for subsidy in 2021 budget Doosuur Iwambe, Abuja The Federal Government on Tuesday admonished Nigerians to brace up for an increase in petrol pump price. The Minister of State, Petroleum Resources, Chief Timipre Sylva who gave this charge during the official launch of the Nigerian Upstream Cost Optimisation Program in […]

News

Why Nigerians may buy petrol at N200 per litre

Ihesiulo Grace 18 November 2020 0

By Tunde Shorunke From all indications, Nigerians and business owners who depend on petrol for their daily activities, due to epilectic power supply in the country should not expect any respite from the federal government in respect of the continuous hike in the petroleum pump price, as it is edging towards N200 per litre. This […]

News

DPR condemns use of cell phones in petrol station

Ihesiulo Grace 24 August 2020 0

The Department of Petroleum Resources (DPR) has frowned against the use of mobile phones while refueling at filling stations, calling motorists and passengers to desist the act to prevent fire outbreak. READ ALSO: DPR warns IPMAN members against selling petrol above official pump price DPR Operation Controller in Osun,  Mr Olusegun Daboh on Monday said that […]

Business Economy

Market forces to determine price of petrol – PPPRA

Ihesiulo Grace 5 June 2020 0

Abuja – The Petroleum Products Pricing Regulatory Agency (PPPRA) has removed the cap on the price of Premium Motor Spirit (PMS) also known as petrol. Also the Nigerian National Petroleum Corporation (NNPC) says it is firming up business portfolios in the power, medical, housing and other sectors that would strengthen the profitability of the state […]

Entertainment

Lagos AGN reacts to calls for removal of Elisha Abbo as AGN patron

Ihesiulo Grace 19 March 2020 0

Lagos – The Lagos Chapter of the Actors’ Guild of Nigeria (AGN), on Thursday condemned the absence of some stakeholders from decision making meetings. The chapter in reaction to calls for the removal of Sen. Elisha Abbo as AGN patron frowned at the stakeholders in a statement signed by AGN Lagos Chapter spokesperson, Bigdeal Omoruyi. […]

Crime

El Salvador approves law to prosecute civil war crimes, president to veto

Ihesiulo Grace 27 February 2020 0

 El Salvador’s Congress narrowly approved a controversial law intended to allow the prosecution of crimes committed during the country’s bloody civil war. President Nayib Bukele on Thursday said he would veto it. READ ALSO: Coronavirus in Europe: Germany at start of epidemic While proponents argue the law is meant to ensure that nobody receives an […]

Crime Featured

23 jerry cans of petrol concealed in 2 caskets intercepted at Idiroko border

Ihesiulo Grace 5 December 2019 0

 23 jerry cans of Premium Motor Spirit (PMS) concealed in two caskets were intercepted by joint anti-bunkering team of the Nigeria Customs Service on Wednesday at Idiroko border. Abdullahi Maiwada, Customs Spokesman in the area, said in a statement that the fuel lading coffins were abandoned in a Mazda 626 with Lagos registration number LSD […]

Business Featured

Open market price of PMS hits N163.68 – PPPRA

Ihesiulo Grace 19 November 2019 0

Abuja – The Petroleum Products Pricing Regulatory Agency (PPPRA) said that the current open price market of the Premium Motor Spirit (PMS) also known as Petrol as at Nov. 15 was N163.68. The Agency disclosed this in its Petroleum Products Pricing Template released on its website, on Monday in Abuja. According to the template, the […]

Business Headlines

Average prices for petrol, others drop in March — NBS

Ihesiulo Grace 12 April 2018 0

The National Bureau of Statistics (NBS), on Wednesday, said the average prices paid by consumers for Premium Motor Spirit (petrol), Kerosene, Liquefied petroleum gas (cooking gas) and Automotive Gas Oil (Diesel) dropped in March by 5.3 percent to N163.4 from N172.5 in February 2018 while price for Kerosene decreased by 6.79 percent to N269 in […]