The National Bureau of Statistics, NBS, yesterday said average price paid by consumers for Premium Motor Spirit, PMS, popularly known as petrol, fell by 1.5 percent year-on-year, YoY, and 1.4 percent month-on-month, MoM, to ₦148.1 in June 2018. The report further stated that states with the highest average price of premium motor spirit (per litre) […]
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The National Bureau of Statistics, NBS, stated that the average price of Premium Motor Spirit (PMS), popularly known as petrol, increased by 17.10 per cent year-on-year in December 2017. It also stated that average price also increased by 17.98 per cent month-on-month to ₦171.8 in December 2017 from ₦145.6 in November 2017. The bureau disclosed […]
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Despite the repeated assurance by the Nigerian National Petroleum Corporation (NNPC), that it has not increased its petrol ex- depot price from ₦133.80k, correspondent findings across some depots in Apapa proved otherwise. Some marketers who spoke to correspondent under the condition of anonymity, said the price of petrol received from NNPC as Wednesday was ₦160 […]
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The Nigerian National Petroleum Corporation on Sunday announced a crash in prices of Premium Motor Spirit, also known as petrol and cooking gas. This is as a strategic intervention in the efficient supply and distribution of the products across the country. It added that the intervention had also warranted a significant drop in the price […]
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Nigeria’s Minister of State, Petroleum Resources, Dr. Ibe Kachikwu, has given assurance that the pump price of Premium Motor Spirit (PMS), otherwise known as petroleum will crash from the current ₦145/litre within four to six months. Kachikwu who made the prediction in a podcast message to mark his two years in office, did not give […]
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The House of Representatives Ad Hoc Committee on the Review of Petroleum Products Pricing has summoned the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, Minister of State for Petroleum, and Ibe Kachikwu, to appear before it next Monday over the alleged diversion of millions of dollars meant for the importation of premium motor […]
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The Federal Government on Monday said that it had no choice than to liberalize the price of petrol. The Minister of Information and Culture, Alhaji Lai Mohammed, who stated this at a news conference in Abuja, justified the increase in the price of petrol to N145, He also faulted a claim that the new price regime […]
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Vice President Yemi Osinbajo yesterday alleged “many misconceptions” about the new petrol price of N145 per litre, stressing that the new regime has nothing to do with subsidy removal. The new price came into effect on Wednesday from the former N86.50, The Nation report. Osinbajo, is a statement titled ‘The Fuel Pricing Debate: Our Story’ and […]
Read More The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said Nigerians will be amazed at what will become of the price of Premium Motor Spirit in the next six months. The Federal Government had on Wednesday announced the removal of fuel subsidy, with a new petrol price band of N135 to N145 per litre, […]
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Fuel price yesterday took a major leap, rising from N86 per litre to N145 per litre. With the new price, advocates of deregulation – the government’s antidote to perennial scarcity of petrol – have carried the day, even as they are pushing for “full deregulation”. According to The Nation, Marketers are free to import products and […]
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[T]he Federal Government may soon effect an upward review in the pump prices of Premium Motor Spirit, popularly known as petrol, oil marketers have said, attributing this to the recent increase in the cost of crude oil at the international market, Punchng report. Crude oil price had fallen below $30 per barrel earlier this year, but […]
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ANYTIME soon the Federal Government may further cut the pump price of petrol due to the constant fall in crude oil price, the outgoing Executive Secretary of the Petroleum Products Pricing Regulatory Agency, Mr. Farouk Ahmed, has said. The PPPRA is the agency of the Federal Government that regulates and fixes prices for petroleum products in […]
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