The Chairman of the Major Oil Marketers Association of Nigeria (MOMAN), Mr Olumide Adeosun, has commended the deregulation of the petroleum downstream sector and the unification of foreign exchange rates by the Federal Government.
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A vessel conveying 800,000 litres of suspected stolen crude oil has been intercepted by a private security contractor engaged by the Nigerian National Petroleum Company Ltd. (NNPC Ltd).
The Independent Petroleum Marketers Association of Nigeria (IPMAN) and Association of Distributors and Transporters of Petroleum Products (ADITOP) have denied plans to increase petrol price to N700 per litre.
On Monday May 22, 2023, policymakers and captains of industries from across the world converged at the Lekki axis of Lagos state for the commissioning of the world’s Largest Single-Train 650,000 barrels-per-day petroleum refinery, built by Dangote Group. Going by commentaries, the refinery when become fully operational will give a boost to efforts by the Federal Government to make Nigeria self-sufficient in local refining of crude oil and save the scarce foreign exchange used in the importation of petroleum products.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied the alleged plan by the association to increase pump price of Premium Motor Spirit (PMS) also known as petrol to N700 per litre nationwide.
Since President Bola Tinubu’s assumption of office on May 29, 2023, the Nigeria Exchange has recorded a remarkable bullish run, with the oil and gas stocks gain going over 44%, Nairametrics has reported.
The National President of Heavy Duty Truck Drivers Association, Mr. Uche Nebuwa, says there will be no remedy to the hike in pump price of fuel caused by subsidy removal unless old refineries are repaired.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) have projected that the pump price of petrol could rise above N700 per litre in Northern Nigeria starting from July.
A former Senior Special Assistant to the ex-President Muhammadu Buhari, has revealed the reason why the former Nigerian leader did not remove the petrol subsidy and unify the country’s foreign exchange rates.
An oil and gas expert, Dr Ayodele Oni, says the ongoing Nigeria-Morocco Gas Pipelines (NMGP) project will boost the economic and industrial growth of all countries that signed a memorandum of understanding (MoU).