• Labour threatens showdown with FG over fuel price increment

    Labour threatens showdown with FG over fuel price increment

    It was gathered that the Nigeria Labour Congress (NLC) has said it is totally opposed to any further fuel price increases as being speculated, saying Nigerians are yet to see the benefits of the last increase.

    The NLC expressed concern that while Nigerians are still struggling to cope with the severe hardship imposed on them by the last increase in the price of petroleum products, there are ongoing media campaigns and contradictory statements by the NNPC and government officials on yet […]

  • African farmers should determine cocoa price – Ooni

    African farmers should determine cocoa price – Ooni

    It was gathered that the Ooni of Ife, Oba Adeyeye Ogunwusi, said cocoa farmers in Africa should be allowed to determine the price of the produce in the international market.

    The monarch, who made the call at the first Regional Cocoa Symposium held at the International Institute of Tropical Agriculture, Ibadan on Tuesday, said it was morally wrong for external bodies to determine what the price of a farm produce would be, bearing in mind the fact that Africa was producing […]

  • Do not increase fuel price – NUPENG tells FG

    Do not increase fuel price – NUPENG tells FG

    An oil workers union, NUPENG, says the Federal Government should not succumb to pressure from some groups to increase pump price of petrol for now.

    Tokunbo Korodo, the South-West Chairman of the union, gave the advice in an interview with the News Agency of Nigeria on Tuesday in Lagos.

    Mr. Korodo said that there was pressure on the government to increase the pump price of petrol from some groups.

    He said that any increase in the price of petrol at this time would […]

  • Buhari has not asked us to hike pump price – NNPC

    Buhari has not asked us to hike pump price – NNPC

    According to reports, the Nigerian National Petroleum Corporation (NNPC) says there is no plan to increase the price of premium motor spirit (PMS) above N145.

    The corporation said there was no time it met with President Muhammadu Buhari to push for a hike in the pump price to N150 per litre.

    “NNPC is not empowered statutorily to tinker with the pricing template of petroleum products as erroneously reported in some dailies,” it wrote on Twitter.

    “The price adjustment in NNPC downstream facilities from […]

  • No plans to increase petrol price to N150 – NNPC

    No plans to increase petrol price to N150 – NNPC

    Two weeks after it denied similar moves, the Nigerian National Petroleum Corporation (NNPC) yesterday, said there are no plans to increase the pump price of petrol from N145 to N150 because the corporation is not empowered statutorily to tinker with the pricing template of petroleum products.

    The NNPC added further that there was no time its management met the President to push for a hike in the pump price of petrol to N150 per litre. NNPC had, last week, increased its […]

  • Why we increased petrol pump price – NNPC explains

    Why we increased petrol pump price – NNPC explains

    According to reports, the Nigerian National Petroleum Corporation (NNPC) has provided a justification for its recent adjustment of petrol pump price at its retail outlets.

    The corporation also denied ever meeting with President Muhammadu Buhari to lobby for his approval of an increase in petrol pump prices.

    According to a statement from the corporation’s Group General Manager Public Affairs, Mallam Garba Deen Muhammad, on Monday in Abuja, the NNPC said there was no time its management met with Buhari to push for […]

  • NNPC wrong on petrol price hike, says Minister

    NNPC wrong on petrol price hike, says Minister

    According to reports, the Minister of State for Petroleum, Dr Emmanuel Ibe Kachikwu, says the recent N4 increase in price of petrol in Nigerian National Petroleum Corporation (NNPC) filling stations, is wrong.

    Kachikwu said this after receiving an award at an event organized by the Petroleum Products Pricing Regulatory Agency (PPPRA) in Abuja on Sunday.

    NNPC had been selling fuel at N141 but on Thursday, Nov. 3 increased it by N4 to the government benchmark of N145.

    ”It is obviously humbling and too […]

  • Petrol price hike not on the cards, says Kachikwu

    Petrol price hike not on the cards, says Kachikwu

    According to reports, the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, has said the federal government is not about to increase the price of petrol in the country, at least not in the near future.

    Kachikwu, instead, said the government would review some of the elements in the pricing template of the Petroleum Products Pricing Regulatory Agency (PPPRA), which are still within its control with operators in the downstream sector to ensure that the price remains in line […]

  • NNPC increases fuel price by N4/litre at its mega stations

    NNPC increases fuel price by N4/litre at its mega stations

    It was gathered that the Nigerian National Petroleum Corporation (NNPC) has increased the pump price of petrol by N4 at its mega stations.

    Fuel price, which has been sold for N141, is set to hike to N145 per litre. This increment came on Tuesday.

    The spokesman for the NNPC, Garba-Deen Muhammad, stated that no rule compelled any marketer to sell at a particular price.

    A price regime was introduced between N135 and N145 and one is expected to sell at within that range.

    The […]

  • NNPC stations increase fuel pump price

    NNPC stations increase fuel pump price

    It was gathered that the Nigerian National Petroleum Corporation (NNPC) has jerked up pump price of petrol at its retail outlets.

    Petrol was hitherto sold to the public at N141 at NNPC mega stations and the company’s affiliates across Nigeria.

    It would be recalled that the federal government fixed petroleum at maximum price of N145 in May.

    The NNPC, however, dispensed at N141, saying it was in line with making the product affordable.

    But since Tuesday November 1, NNPC mega stations started selling at […]

  • No hike in fuel pump price, says Kachikwu

    No hike in fuel pump price, says Kachikwu

    According to reports, the Minister of State for Petroleum, Dr. Emmanuel Ibe Kachikwu, has dismissed insinuations of any increment in the pump prices of Premium Motor Spirit, PMS, popularly called petrol.

    The dismissal came on the heels of widespread panic in Abuja yesterday that major petrol stations, including the retail outlets of the Nigerian National Petroleum Cooperation, NNPC, had jerked up their pump prices from the official N145 to N149 per litre.

    Kachikwu, who was approached by our reporter at the end […]