News

Petrol queues resurface in Abuja over price hike, scarcity speculation

Ihesiulo Grace 20 April 2021 0

Long queues have reappeared in Abuja for the purchase of Premium Motor Spirit (PMS), also known as petrol, one month after normalcy returned to the area. The News Agency of Nigeria (NAN) reports that long queues returned to retail outlets in Wuse, Gwarimpa, Wuye and Kubwa expressway on Tuesday

Business News Oil & Gas

MAN demands passage of PIB bill to regulate PMS pump price

Ihesiulo Grace 7 August 2020 0

Manufacturers Association of Nigeria (MAN) has urged the Federal Government to make efforts at revamping the nation’s ailing refineries and regulate the fluctuating pump price of petrol. Mr Ambrose Oruche, the Acting Director-General of MAN, also called for quick passage of the Petroleum Industry Bill (PIB) when he spoke with newsmen on Thursday in Lagos. […]

News

Marketers yet to adjust to N123.5 per litre of PMS

Ihesiulo Grace 7 April 2020 0

Umuahia – Major and Independent petroleum marketers in Abia have yet to adjust to the new pump price of Premium Motor Spirit, otherwise called petrol, in line with the Federal Government’s directive. The federal government had last Tuesday announced a new pump price of N123.5 per liter from N125 per liter. However, barely one week […]

Business

18bn litres of PMS supplied in 2019 – PPPRA

Ihesiulo Grace 8 January 2020 0

The Petroleum Products Pricing Regulatory Agency (PPPRA) said that over 18 billion litres of Premium Motor Spirit (PMS) also known as petrol was supplied in Nigeria in the year 2019. PPPRA disclosed this in its PMS report signed by its Executive Secretary, Alhaji Abdulkadir Saidu and released in Abuja, on Wednesday. It said that total […]

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

PMS importation increases as NNPC reports N174.62bn sales in March

Ihesiulo Grace 10 June 2019

Micheal Ajayi The Nigerian National Petroleum Corporation (NNPC) in its monthly report said the importation of Premium Motor Spirit (PMS) has increased and that it recorded N174.62 billion sale of white petroleum products in March. The NNPC latest data showed that the country’s PMS importation through the Direct Sale of crude oil and Direct Purchase […]

News Nigeria

End of year fuel scarcity rumour untrue – DPR

Ihesiulo Grace 6 November 2018 0

The Department of Petroleum Resources (DPR) says government is leaving no stone unturned to ensure surplus of Premium Motor Spirit (PMS) and stall the speculated end-of-the-year scarcity. Mr Wole Akinyosoye, the Zonal Operations Controller of DPR, Lagos Zonal Office stated this at the 2018 Annual DPR and Petroleum Marketers Meeting in Ibadan on Tuesday. News […]

Headlines News

Senate gives NNPC 14-day ultimatum to give details of $1.05 billion subsidy account

Ihesiulo Grace 2 November 2018 0

The Senate on Thursday gave the Nigerian National Petroleum Corporation (NNPC) 14 days ultimatum within which to furnish it with details of the operation of $1.05billion fund created to augment shortfall in price of premium motor spirit (PMS) into the country. An Ad-Hoc Committee of the Senate set up to investigate the application of $3.5 […]

News Nigeria

NNPC imports $5.8bn petrol to stop fuel crisis

Ihesiulo Grace 21 February 2018 0

The Nigerian National Petroleum Corporation (NNPC) has said it has imported 9.8 million metric tons of Premium Motor Spirit (PMS) worth $5.8 billion to combat the fuel crisis which has been plaguing Nigeria since December last year. The Group Managing Director of the Corporation, Dr. Maikanti Baru, made this known during a public hearing by […]

Business

NNPC deploys more through-put facilities

Ihesiulo Grace 17 January 2018 0

…orders private depots to comply with N133.28 ex-depot price The Nigerian National Petroleum Corporation (NNPC), has once again said it has deployed more of its depots and other through-put facilities to enforce the N133.28 ex-depot price of Premium Motor Spirit,(PMS), otherwise known as petrol, to marketers directly. A press statement signed by the Group General

News Nigeria

DPR seals 5 filling stations in Lokoja over price adjustment

Ihesiulo Grace 28 December 2017 0

The Department of Petroleum Resources (DPR), Kogi state has sealed five filling stations in Lokoja for selling Premium Motor Spirit (PMS) above the government regulated price of N145 per litre. The operations controller of DPR in Kogi state, Amos Jokodola, who ordered the sealing while inspecting all the filling stations to assess the level of […]

Labour News

NARTO, PTD pledge to support NNPC in adequate supply of PMS

Ihesiulo Grace 25 December 2017 0

Owing to the decision made by the Nigerian National Petroleum Corporation to ensure availability of Premium Motor Spirit, (PMS), the National Association of Road Transport Owners (NARTO) and Petroleum Tanker Drivers (PTD) have pledged to throw their weight behind the NNPC in its efforts to rid the hiccups being experienced in the supply and distribution […]

Business Headlines News

NNPC to recover N11bn missing petrol from Capital Oil

Ihesiulo Grace 18 March 2017 0

The Nigerian National Petroleum Corporation (NNPC) on Friday announced measures to achieve full recovery of over 130 million litres of Premium Motor Spirit (PMS), also known as petrol, stored in the facilities of two indigenous downstream operators, MRS Limited and Capital Oil & Gas Limited, under a throughput arrangement to ensure a robust strategic reserve. […]

Business Oil & Gas

Marketers Deregulate Fuel Sale, Price Hits N150

Ihesiulo Grace 14 May 2015 0

Consumers of Premium Motor Spirit (PMS) also known as petrol have continued to lament as the price of product has risen from N87 to about N150 per litre in different parts of the nation. Investigations showed the rise in price is fuelled by many irregularities, including extortion at depots, jetties and filling stations. It was […]

Analysis

How long will this hemorrhage continue?

Ihesiulo Grace 7 May 2015 0

Regrettable as the pains suffered by Nigerians more than one week now due to the scarcity of Premium Motor Spirit (PMS) otherwise called petrol, one clear fact that has emerged is that until the massive importation of the product is eliminated and the nation’s refining capacity enhanced through revamping existing refineries and building of new […]