Uganda’s Energy Minister presented a bill to parliament, aiming to grant exclusive importation rights for petroleum products in the country to Bahraini firm Vitol. The proposed changes to the petroleum […]
Tag: fuel
Domestic airlines call for jet fuel import license and forex access
In a meeting held on Monday, domestic airlines, operating under the umbrella of the Airline Operators of Nigeria (AON), urged the Federal Government to permit AON to obtain the necessary […]
FG projects N1.68trn fuel subsidy expense as marketers predict N900/litre fuel price
The Federal Government of Nigeria is projected to spend approximately N1.68 trillion on fuel subsidy for Premium Motor Spirit (PMS), commonly known as petrol, between September and December 2023. This […]
Fuel marketers express discontent as government rejects fuel price increase
Oil marketers have advised President Bola Tinubu to gradually ease the removal of subsidy on Premium Motor Spirit (PMS) due to challenges faced by importers in accessing US dollars and […]
Presidential spokesperson confirms no plans to reintroduce fuel subsidy amidst fuel hike concerns
The Senior Special Assistant to the President on Media and Publicity, Tope Ajayi, dismissed rumors on Tuesday of any intentions by President Bola Tinubu’s administration to reintroduce fuel subsidies. Ajayi […]
NEC holds meeting amid fuel price hike and economic concerns
The National Economic Council of Nigeria is currently in session at the Presidential Villa in Abuja. This meeting comes just two days after the Nigerian National Petroleum Company Limited raised […]
PDP condemns federal government for N617 per litre fuel price
The Peoples Democratic Party (PDP) criticized the All Progressives Congress-led Federal Government for the recent increase in the pump price of Premium Motor Spirit (PMS) or fuel from N534 to […]
FG reports 18.5 million litres decrease in monthly fuel consumption following deregulation
According to the Federal Government, the volume of Premium Motor Spirit (PMS), commonly known as petrol, consumed in Nigeria during the first half of 2023 amounted to 11.26 billion litres. […]
Fuel marketers predict petrol price to reach N700 per litre in Nigeria
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has foreseen a potential surge in the pump price of petrol, estimating that certain states in the country could experience prices exceeding […]
Commuters in Anambra cry out as fuel scarcity hits, causing disruptions
The residents of Anambra State faced difficulties in reaching their destinations as commercial transport operators raised fares by over 100% due to a fuel scarcity that affected major cities in […]
Tinubu to will encounter national resistance over fuel subsidy – Sowore
Omoyele Sowore, the presidential candidate of the African Action Congress (AAC), has expressed his belief that President Bola Tinubu is on the verge of encountering a nationwide resistance due to […]
Abuja traders express concerns over rising transport fares impacting business
Traders in Abuja are expressing their frustration over the increase in transportation fares caused by the rise in petrol pump prices. In interviews with the News Agency of Nigeria, they […]
Petrol price will reduce as subsidy measures take effect – NNPC boss
Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), addressed concerns over the increasing prices of petrol, also known as Premium Motor Spirit (PMS), […]
Petrol price soars to N1,200 per litre in Ebonyi state
The pump price of petrol, also known as Premium Motor Spirit (PMS), skyrocketed to N1,200 per litre in Abakaliki, the capital of Ebonyi State. This increase came after President Bola […]
Edo state government threatens land revocation for fuel stations engaging in petrol hoarding
The Edo state government has issued a warning, stating that any fuel station discovered hoarding petrol will have its land ownership revoked. The country witnessed fuel scarcity in various regions […]
Osun state government threatens to seal off fuel stations engaging in petrol hoarding
The Osun State Government issued a warning on Tuesday, stating that it would take action to seal off filling stations in the state that are found to be hoarding petrol. […]
Just In: NEC puts on hold the removal of fuel subsidy
The planned removal of petroleum subsidy by the end of President Muhammadu Buhari’s tenure has been put on hold by the National Economic Council (NEC), as announced by the Minister […]
Federal Government reveals that Nigeria lost N29tn due to fuel subsidies and oil theft
The Federal Government has disclosed that Nigeria has spent a total of N13 trillion ($74 billion) on subsidizing Premium Motor Spirit, commonly known as petrol, between 2005 and 2021. This […]
Finance minister, AGF, Accountant General summoned over alleged $2.4 billion crude oil fraud probe
The House of Representatives has summoned Attorney-General Abubakar Malami and Minister of Finance, Zainab Ahmed, in relation to a $2.4 billion revenue probe concerning the alleged illegal sale of 48 […]
Buhari urged to suspend fuel subsidy removal and engage with marketers
The Nigeria Union of Petroleum and Natural Gas workers (NUPENG) is set to announce its stance on the contentious topic of fuel subsidy removal for Premium Motor Spirit (PMS), commonly […]
Ghana removes fuel subsidy while Nigeria still spends heavily on it
The Ghana National Petroleum Authority (NPA) has made a recent announcement on fuel subsidies in the country. This is in stark contrast to its neighboring country, Nigeria, which is still […]