It was gathered that the Nigerian National Petroleum Corporation has said it can no longer sustain the sale of petrol at N145 per litre.
The Group General Manager, Crude Oil Marketing of the NNPC, Mele Kyari, stated this on Monday at this year’s Oil Trading and Logistics Expo holding in Lagos.
Kyari said with the current price of foreign exchange, it was no longer feasible selling petrol at N145 per litre.
He said: “We have a very difficult business environment.
“It is impossible today […]
According to reports, the Nigerian Labour Congress (NLC) has warned the federal government that it would shut down the economy by Wednesday morning if it failed to revert the pump price of petrol from the N145 per litre to the initial price of N86.50.
NLC’s National Executive Council (NEC) said this after their meeting at the Labour House, Abuja yesterday. NLC said it will join hands with the Trade Union Congress (TUC) to lead Nigerian workers and their civil society allies to […]
Amid threats of protest by labour, the Minister of State for Petroleum Resources, Ibe Kachiukwu, and the Petroleum Products Pricing Regulatory Agency (PPPRA) have offered explanations on how the Federal Government arrived at N145 as the price of a litre of Premium Motor Spirit (PMS) otherwise known as petrol. They assured that the new price regime would block the drain through which government loses N16.5 billion monthly.
While the minister, whose announcement on Wednesday kicked off the new regime, said the […]
In the wake of the recent price hike of petroleum products in the country, the Petroleum Products Pricing Regulatory Agency (PPPRA ) has directed that the NNPC filling stations are to sell fuel for lower than the N145 recommended price.
The statement reads:
“Statutorily enshrined in the PPPRA Act No 8, 2003, is the responsibility to moderate pricing for the Industry. In performing this role, the PPPRA commenced a petroleum products price modulation framework on the 1st of January, 2016, with the […]
The Federal Government on Wednesday announced a new price regime for petrol, with the highest price of N145 per litre. The Petroleum Products Pricing Regulatory Agency said in Abuja that the new price regime had taken effect from Wednesday.
The Nigerian National Petroleum Corporation, however, advised its retail stations on the outskirts of major cities to sell at prices lower than N145 per litre.
In a statement, the PPPRA said: “This review became imperative in the face of extreme difficulties faced by petroleum […]