3931 articles published since 22 Jul 2013
The federal government has given an order to the NNPC Limited and NMPDRA to resume crude oil deal in naira with Dangote Refinery and others to crash fuel prices.
A petrol price crash is imminent following the crash in crude oil prices to $65 per barrel from $73.73, the lowest since 2021, caused by global market shocks.
The fuel price surge as a result of the suspension of the naira-for-crude deal is set to affect the cost of transportation, food and other items in the market.
The committee overseeing the naira-for-crude oil deal between the NNPC and domestic refineries has reportedly met in Abuja to assess the deal's progress.
The Independent Petroleum Product Marketers Association of Nigeria (IPMAN) threatened to sell petroleum products to Nigerians in dollars if Dangote did the same.
The Minister of State for Petroleum Resources (Gas) Ekperikpo Ekpo has revealed that the government is set to release N400 billion under the gas infrastructure fund
Petroleum product experts and marketers have revealed that the pump price of petrol and other petroleum products will rise again as Dangote and NNPC deal ends.
Due to shifts in the global oil market, currency devaluation, and reductions in subsidies, the monthly fuel prices in some African nations rose significantly.
Since 2019, approximately 400 independent oil marketers' filling stations in border villages have remained shut due to the federal government's directive.
Nkem Ikeke
Load more
