Fuel prices in Nigeria have surged to N1,030 per litre at NNPC outlets in Abuja, following the termination of an exclusive purchase agreement with Dangote Refinery. This shift allows other marketers to negotiate prices directly, sparking frustration among motorists amid ongoing economic...
The Nigerian National Petroleum Company Limited (NNPC) ended its exclusive purchasing agreement with Dangote Refinery, allowing other fuel marketers to buy petrol directly. This move aims to enhance market competition, improve supply chain stability, and provide consumers with better pricing...
Chief Afe Babalola has urged the Nigerian National Petroleum Company to allow Dangote Refinery to sell petrol directly to consumers at lower rates, promoting competition and benefiting Nigerians. He received the “Outstanding Achiever of All Time” award from the Ekiti-Kete Coalition in the U.S...
The Nigerian National Petroleum Company Limited (NNPCL) has authorized major marketers to lift petrol from Dangote Refinery, but independent marketers remain excluded. The new arrangement raises concerns over pricing and access, prompting calls for more transparency and an open market for all...
The Nigerian National Petroleum Company Limited (NNPCL) has announced petrol prices for September 2024, sourced from Dangote Refinery. Prices will vary across Nigeria, with Lagos at N950.22 per litre and Borno at N1,019.22. NNPCL will pay in dollars for September, switching to Naira in October...
The National Industrial Court has ordered NNPC to pay N629 million to Dr. Williams for wrongful dismissal. Williams was dismissed in 2018, but the court ruled NNPC did not follow fair labor procedures. The judgment includes unpaid salaries, damages, and legal costs, highlighting procedural...
The Nigerian National Petroleum Company (NNPC) has denied claims of being the sole distributor for Dangote Refinery. Refuting allegations from MURIC, NNPC clarified that product pricing is determined by global market forces, and Dangote Refinery remains free to sell to any marketer in a...
Dangote Group has clarified that NNPC has not yet lifted petrol from its refinery, disputing claims made in a recent article. The company emphasized that no contracts have been finalized and reiterated that petrol pricing is regulated by government authorities, assuring the public of the high...
The Manufacturers Association of Nigeria warns that the recent petrol price hike from ₦568 to ₦855 per litre may lead to rising inflation, increasing costs for transportation and goods. This could particularly impact small and medium-sized enterprises, reducing consumer demand and threatening...
The Nigerian National Petroleum Corporation (NNPC) faces backlash after admitting prolonged fuel scarcity due to unpaid debts to suppliers. Nigerians express frustration over the company’s financial mismanagement, questioning its profitability claims and speculating on potential fuel price...
The NMDPRA has warned petrol stations against selling Premium Motor Spirit (PMS) at inflated prices nearing ₦1,000 per litre. This measure aims to protect Nigerians from price gouging, particularly in light of the significant price differences between NNPCL and independent marketers.
The...
NNPC Ltd refutes allegations by former Vice President Atiku Abubakar that President Bola Tinubu is involved in the acquisition of NNPC Retail by OVH. The company emphasizes its commitment to commercial interests, asserting that Oando, linked to Wale Tinubu, had divested its stake before the...
NNPC has repaid 60% of the $1.03 billion loan for its stake in Dangote Petroleum Refinery, amounting to $625 million. The stake has been reduced from 20% to 7.2% due to unpaid balances. The company plans to redirect investments toward compressed natural gas (CNG).
The Nigerian National...
The Nigerian National Petroleum Corporation Ltd. (NNPCL) blamed the recent fuel scarcity across Nigeria on adverse weather conditions, including rain and thunderstorms, which disrupted fuel delivery.
The Nigerian National Petroleum Corporation Ltd. (NNPCL) has attributed the ongoing fuel...
Fuel scarcity worsens in Nigeria as IPMAN reveals NNPC hasn't supplied petroleum products for three years. Marketers now depend on private depots, buying fuel at N750 to N850 per liter. This shortage has led to long queues in major cities, exacerbating the nation's ongoing energy crisis.
The...
The Nigerian National Petroleum Company (NNPC) claims to sell petrol at half its landing cost, labeling the price difference as a “shortfall” rather than a subsidy. Critics argue this practice effectively constitutes a subsidy, raising concerns over transparency and economic impacts amid rising...
Atiku Abubakar urges President Tinubu to clarify the federal government's petrol subsidy policy and crude oil refining amid ongoing confusion. He criticizes the potential continuation of the subsidy despite previous claims of its removal, emphasizing the need for transparency to address...
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