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Tag: petrol price

FG Vows To Sanction Depot Owners Selling Petrol Above Official Price

Minister of State for Petroleum Resources, Chief Timipre Sylva
Says rising diesel price hinders movement of tankers Truck owners direct members to resume full operations FG commences implementation of 25% freight rate The Minister of Petroleum Resources, Mr. TimipreRead More

NEC: Fuel Subsidy Stays For Now, But May Be Removed Before Year End

National Economic Council (NEC)
Says petrol costs 100% more in neighbouring countries Reveals that N2trn spent on subsidy in 2021 Accuses NNPC of failing to fund FAAC to the tune of N200bn monthly inRead More

NLC To Shut Down Economy From February 1 Over Petrol Price Hike

Nigeria Labour Congress (NLC)
he Nigeria Labour Congress (NLC), Wednesday, directed all its states organs to intensify mobilisation for next Thursday’s nationwide protest against the Nigerian Federal Government over its proposed increase in theRead More

Oil Price Upswing Continues, Inches Closer To $75pb

Crude oil
The price of crude oil crept higher yesterday, almost hitting the $75 per barrel mark as industry data pointed to a substantial decline in United States crude stockpiles coupled withRead More

Labour Warns NEC Against Endorsing Proposed N385 Petrol Price

Nigeria Labour Congress
Says govs’ recommendation anti-people The organised labour at the weekend cautioned the National Economic Council (NEC) against approving a recommendation by the Nigerian Governors’ Forum (NGF) seeking a N385 pumpRead More

Govs Okay Full Deregulation Of Petrol, N385 Pump Price

Nigeria Governors’ Forum (NGF)
Want three refineries privatised after rehabilitation Recommend purchase of buses to cushion effects of price increase Ahead of today’s Federation Accounts Allocations Committee (FAAC) meeting, the Nigeria Governors’ Forum (NGF)Read More

FG Mulls Extension of Petrol Parity Fund To Gas Supply Nationwide

Petroleum Products Pricing Regulatory Agency (PPPRA)
The Federal Government yesterday indicated that it is considering extending the current equalisation scheme in the petrol supply system in the country to the movement of gas across the countryRead More

Rising Oil Price Puts More Pressure On NNPC’s Finances

Crude oil
Labour canvasses alternative petrol pricing method Seeks three-year gas price moratorium Crude oil extended its gains at the weekend after closing at a six-week high with signs of strengthening demandRead More

Petrol Price: NNPC Douses Tension, Says No Increase Now

Nigerian National Petroleum Corporation (NNPC)
Declares it has no intention of pre-empting ongoing engagement with labour The Nigerian National Petroleum Corporation (NNPC) has said it would maintain its current ex-depot price of petrol until theRead More

Report: Rising Oil Price May Derail FG’s Economic Reforms

Financial Derivatives Company Limited (FDC)
The Financial Derivatives Company (FDC) has warned that the rising crude oil price, which could rise above $100 per barrel, may sway the Federal Government to jettison its economic reformRead More