The House of Representatives has called for suspension of the operations of four companies that are behind the importation of one hundred million litres of bad petrol into Nigeria. The House took the decision based on a motion of urgent national importance, after the Group Managing Director of the Nigerian National Petroleum Company Limited revealed the names…
The Federal Government may increase the price of Premium Motor Spirit better known as petrol, to three hundred and two naira per litre in February 2022 as part of the recommendation of the National Economic Council in November 2021. The recommendations were put forward by the NEC committee discussing with the Nigerian National Petroleum Corporation on the…
The Nigerian National Petroleum Corporation has admitted that there are pricing issues at some petrol depots in the country but ruled out any increase in the pump price of the product. The Group Managing Director, NNPC, Mele Kyari, while delivering a presentation at a conference organised by energy correspondents in Lagos, said the corporation had adequate stock…
The pump price of petrol is expected to go up again, as the Nigerian National Petroleum Corporation says it can no longer carry the load of subsidy. The NNPC claims that it currently spends up to one hundred and twenty billion naira on petrol subsidy every month in order to keep the cost of petrol at their…
A new research has revealed that Nigeria has been made a dumping ground for highly toxic petrol, diesel and kerosene by international commodity traders. According to the report of the survey conducted by Stakeholders Democracy Network, SDN, the dubious commodity traders take advantage of Nigeria’s weak and poorly enforced fuel regulations. The report reveals that the quality…