LAGOS JUNE 20TH (NEWSRANGERS)-The majority of Nigerian filling stations have yet to reduce premium motor spirit pump prices despite the significant drop in crude oil prices and Dangote Refinery’s gantry petrol price. A market survey on Thursday morning showed that petrol prices stood between N1317 and N1336 per liter across filling stations in Abuja. This is the…
LAGOS MARCH 12TH (NEWSRANGERS)-The landing cost of premium motor spirit dropped to N774.82 per litre, cheaper than the ex-depot price of Dangote Refinery’s fuel, which stood at N825 per litre. This is according to the latest competency centre daily energy data released by the Major Energies Marketers Association of Nigeria on Tuesday. Data from MEMAN…
LAGOS MARCH 28TH (NEWSRANGERS)-Petroleum product marketers and other operators in the downstream sector, have denied speculations that pump price of petrol at depot facilities have been adjusted downwards. Also, LEADERSHIP reports that petroleum outlets are still selling at prevailing market prices. Our Correspondent’s check at major depot’s in Lagos indicate that prices have not changed…
LAGOS JANUARU 5TH (NEWSRANGERS)-A prominent economist and Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has argued that it is impossible for fuel to sell at N1,200. Making this argument during an interview with Channels Television, Rewane argued that fixing the pump price of fuel at N1,200 will bring the nation’s economy to its…
LAGOS JANAURY 3RD (NEWSRANGERS)-The Nigerian National Petroleum Company (NNPC) Limited has reacted to a media report alleging fresh plans to increase the price of petrol to N1,200 per litre. Politics Nigeria reports that social media platforms, on Wednesday, have been awash with rumours of a new increase in the price of fuel across the country. Reacting…
LAGOS SEPTEMBER 21ST (NEWSRANGERS)-Despite the numerous assurances by President Bola Ahmed Tinubu that the subsidy is gone, Daily Trust’s finding shows that the federal government paid N169.4 billion as subsidy in August to keep the pump price at N620 per litre. There have been several reports suggesting that the current price stagnation despite the worsening…
LAGOS JANUARY 19TH (NEWSRANGERS)-The Federal Government has quietly approved ₦185 as the new petrol pump price per litre. A source told The Guardian that the approved pump price was communicated to major marketers in a memo early Thursday. Our correspondent gathered that fuel stations in Lagos have started adjusting their pump price to the approved…
LAGOS JANUARY 19TH (NEWSRANGERS)-The federal government may increase the price of Premium Motor Spirit (PMS), better known as petrol, to N302 per litre in February 2022 as part of the recommendation of the National Economic Council (NEC) in November 2021. Moneycentral understands that this is part of the government’s plan to fully deregulate the PMS…