Amid a lingering fuel scarcity and crisis, the Nigerian National Petroleum Company (NNPC) has adjusted the fuel price from N650 to between N855 and N890 per litre, Platforms Africa reports. Without waiting for their stock to finish as they claimed during price reduction, other marketers too and outlets have also adjusted the pump prices with…
Billionaire businessman, Aliko Dangote, has said that the introduction of naira for crude will reduce the demand for foreign exchange by 40 per cent. He said this on Tuesday as he announced the commencement of the production of petrol at the Dangote refinery located in Lagos. Speaking on Arise TV, Dangote said, “I will like…
The Federal government has rubbished reports on social media suggesting that the Ministry of Petroleum has ordered NNPCL to sell fuel at N1000, above the approved pump price.A report, intending to mislead the public and cause panic, which is devoid of truth, circulating in the media had maliciously claimed that the minister of Petroleum, Hon….
Owner of Lagos-based refinery Aliko Dangote, on Tuesday, spoke on the pricing of petrol produced at his 650,000 barrels per day facility.The refinery owner said as soon as his company finalises modalities with the Nigerian National Petroleum Company Limited (NNPCL), the product will hit the market. “Our PMS (Premium Motor Spirit) can be in filling…
Oando Plc has warned individuals and entities against spreading false information about the Nigerian Agip Oil Company (NAOC) transaction. In a statement on Monday signed by Ayotola Jagun, the company’s secretary, Oando said it will sue those that do not desist from spreading inaccurate information. On August 22, Oando said it completed the acquisition of Eni’s 100 percent shareholding in the…
The Dangote refinery in Nigeria, Africa’s biggest and newest crude processing facility, is set to soon begin production of gasoline, potentially upending global gasoline flows. For years, Nigeria has been importing the gasoline it consumes, but the newly operational refinery is poised to turn OPEC’s largest African crude oil producer from a gasoline importer to…
The co-chair of the Bill & Melinda Gates Foundation, Bill Gates is visiting Nigeria this week, as part of the foundation’s ongoing commitment to Africa’s development. Gates will be meeting with national and local leaders, partners, grantees, and innovators to discuss advancing health, innovation, and nutrition across Africa. Gates, alongside other foundation leaders, will meet…
The lingering fuel crisis in the country may last longer as the nation’s oil company, the Nigeria National Petroleum Company Limited (NNPCL) has admitted to owing petrol suppliers to the tune of about $6 billion. Nigerians have not had it so good this year as fuel queues have dotted filling stations across the country, with…
The announcement of the Nigerian National Petroleum Corporation Limited (NNPCL) on being unable to sustain fuel supply is a game plan, according to experts. On…On Sunday, Chief Corporate Communications Officer of the NNPCL, Olufemi Soneye, admitted that the national oil company is owing suppliers, but did not specify the exact amount.“NNPC Ltd has acknowledged recent…
