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Petroleum marketers reject Dangote’s dollar pricing, warn of forex pressure

Independent petroleum marketers have criticised the Dangote Petroleum Refinery’s decision to price petroleum products in United States dollars, warning that the policy could intensify foreign exchange pressures and create fresh instability in Nigeria’s downstream oil sector. The stakeholders on Tuesday acknowledged the refinery’s right as a private enterprise to determine its commercial strategy but cautioned […]

Business

Marketers demand timely NNPCL deal to revive refineries, boost competition

Oil marketers under the Independent Petroleum Marketers Association of Nigeria have called on the Nigerian National Petroleum Company Limited to expedite its proposed Technical Equity Partnership with two Chinese firms to complete and operate the Warri and Port Harcourt refineries. The marketers expressed concern over the prolonged delay in finalising the agreement, warning that the […]

Business

Marketers warn of scarcity as cooking gas prices surge nationwide

The Nigerian Association of Liquefied Petroleum Gas Marketers has raised concerns over irregular supply and the rising cost of Liquefied Petroleum Gas (cooking gas), warning that the trend could lead to scarcity and worsen economic pressure on consumers. The association said the price of cooking gas has climbed above N1,500 per kilogramme, while marketers now […]

News

Marketers accuses NNPCL CEO of neglecting P’Harcourt refinery’s rehabilitation 

The Petroleum Products Retail Outlets Owners Association of Nigeria has accused Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited of neglecting the revival of the Port Harcourt refinery. The PETROAN’s Zonal Chairman for System 2E (Eastern Zone), Sunny Nkpe, expressed concern in a statement on Monday about the slow progress […]

featured

Dangote faces market pressure as importers cut petrol prices

Petrol importers have slashed prices below the rates offered by the Dangote Petroleum Refinery, intensifying market competition. This development follows a recent appeal by Dangote Group President, Alhaji Aliko Dangote, urging the Federal Government to halt fuel importation. Investigations revealed that several filling stations are now retailing petrol for less than N860 per litre, compared […]

Price of of cooking gas rose by 13.75% in May 2024
featured

Marketers back Dangote’s move to slash cooking gas prices

The Nigerian Association of Liquefied Petroleum Gas Marketers has declared its full support for the Dangote Petroleum Refinery’s plan to reduce the price of cooking gas. Speaking, NALPGAM President, Oladapo Olatunbosun, said the move aligns with the association’s long-standing advocacy, adding that a price cut would significantly curb the reliance on firewood for cooking, according […]

featured

Marketers predict fuel price cut as crude drops

Petroleum marketers in Nigeria are anticipating a potential reduction in Premium Motor Spirit prices following a recent decline in global crude oil prices, according to the Petroleum Products Retail Outlet Owners Association of Nigeria. The association indicated that a new pricing structure could take effect as early as Monday, reflecting the lower cost of crude […]

News

Marketers seek FG support to set up CNG centres

The Independent Petroleum Marketers Association of Nigeria is urging the Federal Government to fund the conversion of petrol stations into Compressed Natural Gas refilling centres. The association praised the Presidential CNG Initiative as a promising step toward cleaner energy but stressed that large-scale implementation requires significant government investment. This appeal comes as the government reported […]

Oil and Gas

Marketers seek foreign traders for cheaper petrol imports

Oil marketers said they have initiated negotiations with international traders to bring in cheaper Premium Motor Spirit in a bid to remain competitive. In the same vein, the Independent Petroleum Marketers Association of Nigeria and oil workers insist that petrol from the Dangote Refinery should be sold at a price lower than ₦825 per litre, […]

News

Why some stations sell petrol above N1,000/litre – Marketers

Petroleum marketers explain that filling stations still sell Premium Motor Spirit, or petrol, above N1,000 per litre because they are yet to exhaust their old stock. They note that the previous stock was purchased at N970 per litre, and many stations still have it in their tanks. It was earlier reported that on December 19, […]

Dangote Refinery loses N32.5bn after petrol price cut
News

Marketers start direct petrol loading from Dangote refinery

The Independent Petroleum Marketers Association of Nigeria has started lifting Premium Motor Spirit from the Dangote Petroleum Refinery. This comes after an agreement between IPMAN and the refinery was reached last month. IPMAN members have already lifted millions of litres of petrol from the Dangote refinery, which is situated in the Lekki Free Trade Zone […]

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