The pump price of Premium Motor Spirit (PMS), popularly known as petrol, was raised from N537/litre to N617/litre at some filling stations operated by the Nigerian National Petroleum Company Limited in Abuja on Tuesday. Independent oil marketers confirmed the increase in the cost of the commodity, as they stated that any shift in price by […]
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The Federal Government has threatened to sanction any fuel stations or depot selling above the stipulated approved pump price of Premium Motor Spirit (PMS). The threat followed the persistent fuel scarcity being witnessed in the FCT and its environs as well as in other parts of the country. Mr Farouk Ahmed, Authority Chief Executive, Nigerian […]
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The Independent Petroleum Marketers Association of Nigeria on Wednesday warned members of the association not to dispense Premium Motor Spirit, popularly called petrol, above the approved N165/litre pump price. IPMAN in conjunction with the Association of Distributors and Transporters of Petroleum Products gave the warning in Abuja following reports that many retail outlets had adjusted […]
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The Nigerian National Petroleum Corporation (NNPC) said it supplied a total of 29.058 million litres of Premium Motor Spirit (PMS) popularly known as petrol to thirteen Northern states in three days. In its report on daily dispatch to filling stations made available to the News Agency of Nigeria (NAN) in Abuja on Friday, it named […]
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Dr. Ibe Kachikwu, the Minister of State for Petroleum Resources has predicted that prices of Premium Motor Spirit (PMS), Popularly called petrol, will crash in the next four to six months as a result of the competition inherent in the price modulation. While presenting his scorecard on his two years in office in a podcast […]
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Justice Mohammed Idris of the Federal High Court, Lagos, on Thursday ordered the unconditional release of the chairman of Capital Oil and Gas limited, Ifeanyi Ubah, held by the Department of State Services (DSS). The court directed the DSS and its director general, Lawal Daura, to release Mr. Ubah from detention if no criminal action […]
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The Department of State Services, DSS, has said the offence committed by Ifeanyi Ubah, Chief Executive Officer of Capital Oil and Gas Ltd, is punishable by death. The secret police had arrested Ubah for allegedly diverting about 80 million litres of Premium Motor Spirit (commonly called petrol), kept in his custody by the Nigerian National […]
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The House of Representatives Ad-hoc Committee on Review of Pump Price of Petrol has called on private marketers of petrol to sell at the government-regulated price. The Chairman of the committee, Rep. Raphael Igbokwe, made the call during an oversight visit to Liquid Bulk Ltd., Conoil, DELMAR Petroleum Company Ltd. and some other petrol marketers in […]
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Members of the House of Representatives say “unnecessary charges” by Petroleum Products Price Regulatory Agency (PPPRA) are the reason Nigerians pay N145 per litre for premium motor spirit (PMS). At a public hearing on Monday, the ad hoc committee on the review of PMS said the 145 per litre pump price was causing Nigerians “great […]
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The Nigerian National Petroleum Corporation (NNPC) has advised Nigerians to stop panic buying of petroleum products, emphatically stating that there are no plans to increase the price of the products. Ndu Ughamadu, spokesman of the corporation, said the corporation had a 1.3billion litres stock of premium motor spirit (PMS), otherwise called petrol, which is sufficient […]
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