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Tag: PMS

Only four Nigeria states attract foreign investment in Q4 - Report
Transportation

Bus fare rises 98% one month – NBS

The National Bureau of Statistics reports that while the price of Premium Motor Spirit increased at the pump, the average cost of bus travel within Nigerian cities increased from N649.59 in May 2023 to N1,285.41 in June 2023. These figures which were derived from the NBS’s June 2023 Transport Fare Watch report indicate that within a month, […]

Local refining will cut down petrol price by N70/ltr – Marketers
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Local refining will cut petrol price by N70/ltr – Marketers

      Oil marketers, have stated that the implementation of local refining is projected to result in a reduction of at least N70 per litre in the price of fuel once it reaches full operational capacity. According to the National Controller Operations of the Independent Petroleum Marketers Association of Nigeria,Mike Osatuyi, investing in functional […]

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Marketers predict fuel hike as crude hits $84/barrel

Brent, the international benchmark for crude oil, hit a high of $84 a barrel on Wednesday, fueling concern that Nigeria’s pump price of Premium Motor Spirit, also known as petrol, will rise again in the coming weeks. According to The Punch, crude oil prices, which are a key factor in determining the cost of refined […]

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Crude oil hits $84 per barrel – Report

Brent, the international benchmark for crude oil, hit a high of $84 a barrel on Wednesday, fueling concern that Nigeria’s pump price of Premium Motor Spirit, also known as petrol, will rise again in the coming weeks. According to The Punch, crude oil prices, which are a key factor in determining the cost of refined […]

NMDPRA calls for calm amid PMS subsidy removal
Oil and Gas

NMDPRA calls for calm amid PMS subsidy removal

Juliet Buna The Nigerian Midstream and Downstream Petroleum Regulatory Authority on Tuesday assured of an adequate supply of PMS to meet the demand of consumers. This is coming after President Bola Tinubu on Monday declared the removal of fuel subsidy. The NMDPRA in a statement signed by its General Manager of corporate communications Kimchi Apollo […]

FG spends N40.1bn daily as fuel subsidy hits N600 per litre – Operators
News

PMS at N165/litre not sustainable – Oil marketers

The Association of Oil Marketers in Nigeria on Wednesday said that the sale of Premium Motor Spirit also known as petrol is not sustainable at N165/litre. The Independent Petroleum Marketers Association of Nigeria and the Natural Oil and Gas Suppliers had earlier pushed for the upward review of petrol price, as some members of IPMAN […]

Tweeps knock FG as fuel scarcity leaves commuters stranded
Economy

Fuel queues enter third day in Lagos, Ogun

Fuel queues have reached its third day in Lagos, Ogun, and other parts of the country. The situation has made the black market trade boom with a litre of petrol sold for as high as N300. Speaking on the petrol scarcity rocking major cities in the country, the Deputy National President, Independent Petroleum Marketers Association […]