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.
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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).
An ex-militant leader in the Niger Delta, Asari Dokubo, has alleged that the Nigerian Army, Navy, and cabal are behind 99 percent of oil theft in the country.
The four tripartite MoUs were signed between the Nigerian National Petroleum Company Limited (NNPC) and the Office National des Hydrocarbures et des Mines (ONHYM) of Morocco on one hand, and the Société Nationale des Opérations Pétrolières of Cote d’Ivoire (PETROCI), the National Oil Company of Liberia (NOCAL), the Société Nationale des Hydrocarbures of Benin (SNH-Benin), and the Société Nationale des Pétroles of the Republic of Guinea (SONAP) on the other hand, Garba Deen Muhammad, the Chief Corporate Communications Officer of the NNPC Limited, said in a statement.