Oil marketers have given a response to President Muhammadu Buhari, who in a national broadcast on January 1, accused them of being the cause of the current fuel scarcity. At a meeting with President Buhari’s Chief of Staff, Abba Kyari, on Tuesday, the Depot and Petroleum Marketers Association of Nigeria, DAPMAN, said the current price […]
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…Domestic refineries in October 2017 amounted to 204.31 million litres compared to 87.47 million litres in September 2017. The Nigerian National Petroleum Corporation (NNPC) through its Downstream subsidiary, the Petroleum Products Marketing Company (PPMC), sold and distributed a total of 1.352.86 billion (one billion three hundred and fifty two million and eight six thousand) litres […]
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The executive secretary of Depot and Petroleum Products Marketers Association (DAPPMA), Olufemi Adewole, said the association has paid over N90bn to the Nigerian National Petroleum Corporation (NNPC) for petrol but the corporation has no cargo for allocation. Adewole said the NNPC is owing DAPPMA members N600 billion and other marketers over N800 billion. “Marketers have continued […]
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Apple on Thursday apologized to its customers for slowing down performance of older iPhone models and said it would discount replacement batteries for some of its handsets. The move by Apple was a response to an uproar from iPhone users — and a series of lawsuits — after news of the battery problems stoked concerns […]
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Alhaji Aminu Goronyo, the National President, Rice Farmers Association (RIFAN), has assured Nigerians that the market prices of locally produced rice will soon crash. Goronyo told News Agency of Nigeria (NAN) in Abuja on Wednesday that the price a 50kg-bag of locally produced rice would plummet from N18,000 to between N6,500 and N7000 by April […]
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If you think the rate of unemployment in Nigeria is alarmingly high, then you have to brace up for the challenge ahead. The National Bureau of Statistics (NBS) has indicated that the number of unemployed people in Nigeria will increase in the fourth quarter of 2017. The bureau made this prediction in the third quarter unemployment […]
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The Depot and Petroleum Products Marketers Association (DAPPMA) says members’ depots are empty, maintaining that they are not hoarding fuel and are therefore not responsible for crippling crisis. In a statement signed by Olufemi Adewole, DAPPMA’s executive secretary, and shared with TheCable, the association said there are always issues when the Nigerian National Petroleum Corporation […]
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The Managing Director of Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, on Sunday disclosed that Petrol is being subsidised to the tune of N26 per litre. According to him, the landing cost of petrol (PMS) is N171 per litre; it is being sold at the pump at N145 per litre – a difference of N26. […]
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Mr. Innocent Chukwuma, the Anambra-born industrialist and Chairman of Innoson Nigeria Limited, may have succeeded playing the victim with his arrest, on Tuesday, by the Economic and Financial Crimes Commission (EFCC), but there are clear indications that he attempted to defraud Guaranty Trust Bank (GTBank) through forgery of documents. Mr. Chukwuma was released on bail […]
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Mohammed Saidu, head public affairs unit of the Department of Petroleum Resources (DPR), says petroleum marketers diverted 129,000 liters of petrol from Abuja on Friday. Saidu, who revealed this monitoring the stations, added that some of the erring filling stations had been given a total fine of more than N30.5 million. According to him, more […]
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