The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced the suspension of the planned 15 percent ad-valorem import duty on Premium Motor Spirit (PMS) commonly known as petrol and diesel. In a statement posted signed by the Director, Public Affairs Department, NMDPRA, George Ene-Ita on Thursday, the[Read More…]
Diesel price drops as Dangote sells N1,225/litre, supplies petrol May The pump price of Automotive Gas Oil, popularly called diesel, has dropped from about N1,700/litre which it sold for a few weeks ago, to around N1,350/litre in some locations across the country following the sale of the commodity by[Read More…]
Report ranks Nigeria 22nd country with cheapest petrol A new report has revealed vast differences in gasoline costs across the world, with Nigeria ranked 22nd in the cheapest petrol price category globally. The report titled ‘Global Petrol Prices, Octane-95, January 1, 2024’, as posted on their website, also revealed[Read More…]
Daily petrol consumption drops to 44.3 litres -NMDPRA Domestic consumption of Premium Motor Spirit (PMS) or petrol in the country has recorded a significant drop after the deregulation occasioned by fuel subsidy removal. According to the Chief Executive Officer, Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed,[Read More…]
NNPCL says no plans to hike petrol The Nigerian National Petroleum Company Limited (NNPCL) has debuted reports that it is planning to increase pump price of Premium Motor Spirit (petrol) as unfounded lies. In a statement posted on Friday on its official X handle (formerly Twitter) the management of[Read More…]
The Lagos Chamber of Commerce and Industry (LCCI), the premier chamber of commerce in Nigeria has commended the Federal Government’s removal of fuel subsidy as it will grow the country’s economy. Unfortunately, previous regimes had shied away from this grave but nation-building decision. It is, however, noteworthy that industry regulators[Read More…]
