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Tag: fuel scarcity

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Naira-for-crude policy still in effect, FG tells Dangote, others

The Federal Government has emphasized that its naira-for-crude initiative with local refineries is not a temporary solution but a strategic policy aimed at promoting sustainable domestic refining. The Nigerian government has confirmed that the naira-for-crude initiative remains in effect, overriding the decision made by the NNPC under former CEO Mele Kyari to terminate it. During […]

Petrol queues surface in Lagos, Abuja after Tinubu's subsidy announcement
News

Fuel price hits N1300/litre amid scarcity at depots 

Many depots for Premium Motor Spirit, also known as petrol, are currently dry, resulting to fuel scarcity and Black marketers profiting from the scenario, offering prices as high as N1,300 and N1,500 per liter in some part of Lagos , Ogun and the FCT. There were long queues witnessed in many filling stations which started […]

Petrol queues surface in Lagos, Abuja after Tinubu's subsidy announcement
News

Queues continue across states amid fuel supply shortages

Commuters across several states in Nigeria are facing fuel shortages and soaring prices, leading to long queues at filling stations. The scarcity has been reported in Lagos, Abuja, Kaduna, Kano, Jos, Cross River, and other parts of the country. Channels News reports that they have been a significant increase in vehicle queues at filling stations […]

Petrol queues surface in Lagos, Abuja after Tinubu's subsidy announcement
News

Petrol queues surface in Lagos, Abuja after Tinubu’s subsidy announcement

  Residents of Lagos have started experiencing another rounds of long queues in various petrol stations following the announcement of the fuel subsidy removal by President Bola Tinubu. AM Business reported that Tinubu, in his inaugural speech shortly after his swearing-in in Abuja, declared that “fuel subsidy is gone”. He claimed that the budget he […]

IPMAN threatens strike over Soludo's taxation
Business featured

How Dangote Refinery will tackle fuel scarcity, import issues – IPMAN

Nigeria’s Independent Petroleum Marketers Association of Nigeria has said that the opening of the Dangote refinery would solve the country’s problems with fuel import and scarcity. Nairametrics reported that the Chairman of IPMAN and Enugu Community Depot in charge of Anambra, Ebonyi, and Enugu State, Mr. Chinedu Anyaso, revealed this in Awka while he gave a speech on Monday. The […]

Buhari
Business

Fuel subsidy: Buhari yet to meet criteria for removal, say marketers

  The Independent Petroleum Marketers Association of Nigeria has declared its stand on the subsidy. The Association disagreed with subsidy’s removal, arguing that the current government, President, Major General Muhammadu Buhari (retd.), did not meet the necessary criteria for its removal. The Nigeria Union of Petroleum and Natural Gas Workers stated that it would disclose […]

News

FG increases fuel supply to avoid price hike

  The Federal Government has increased the supply of Premium Motor Spirit, often known as petrol, to independent oil marketers through its Nigerian National Petroleum Corporation Limited in an effort to prevent a further increase in the price of the product at the pump. The Punch reported that oil marketers said on Friday that the […]

Fuel scarcity'll continue after polls, marketers warn
featured News

Fuel scarcity’ll continue after polls, marketers warn

    The Independent Petroleum Marketers Association of Nigeria, has warned that the lingering fuel scarcity will continue till after the general elections. According to The PUNCH, this was stated by the National Vice President, of the association, Abubakar Maigandi, on Tuesday. He revealed that 90 percent of the filling stations were shut as a […]

Zenith Bank's Q3 earnings hit N620.6bn
Business

Zenith Bank to begin operation as HoldingCo

Zenith Bank PLC has received approval in principle from the Central Bank of Nigeria to operate as a financial holding company. The Punch reported that Zenith Bank disclosed  plans to change its organisational structure in a statement signed by the Company Secretary, Michael Otu, on Friday to Nigerian Exchange Limited. With this modification, the organization […]

Nigerian National Petroleum Corporation Limited logo
Business

NNPCL finishes pipeline repairs at depots

The Nigerian National Petroleum Corporation Limited has finished repairing the pipeline at the Satellites depots area. The Punch reported that the repairs were carried out through NNPCL Pipeline and Marketing, one of the NNPCL subsidiaries. According to the report, the Chairman of Satellite Depots, Akin Akinrinade, said that the pipeline had been repaired. Also, It […]

News

Fuel scarcity: We don’t buy petrol N172/litre, says IPMAN

  Wilson Adekumola Independent Petroleum Marketers Association of Nigeria on Friday, dispelled the reports going viral that its members were buying petrol at N172 per litre. IPMAN’s Chairman, Western Zone, Alhaji Dele Tajudeen, wille speaking in an interview with the News Agency of Nigeria in Ibadan described the report being circulated that IPMAN members were […]

Fuel scarcity eases gradually after five months
Oil and Gas

Fuel scarcity eases gradually after five months

FThe severe fuel scarcity that has plagued the country since November 2022 is gradually phasing out, as petroleum products are already being made available at filling stations with little or no queues.   This development follows the efforts of the Nigerian National Petroleum Company Limited, the Major Oil Marketers Association of Nigeria, Independent Petroleum Marketers […]

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