Business

AGAIN, NIGERIAN DISCOS RAISE METER PRICES Electricity Distribution Companies in Nigeria, commonly called DisCos, have announced an increase in prices for electricity meters. The development makes it the second price hike in just four months. The increased prices will start on Tuesday, November 5, 2024. The cost of a single-phase meter, a common type for household use, will now range …

OIL MARKETERS DRAG DANGOTE TO COURT OVER BID FOR MONOPOLY Three major oil marketers have told the Federal High Court in Abuja that the planned monopoly of the energy sector by Dangote Petroleum Refinery will spell doom for the country’s oil sector. According to the oil marketers, Dangote’s plan to monopolize the oil sector is a recipe for disaster in …

WE SUPPORT COMPETITION, BUT AGAINST IMPORTATION OF SUBSTANDARD PETROL – DANGOTE Dangote Petroleum Refinery and Petrochemicals has expressed its support for healthy competition that drives innovation and quality, saying it looked forward to the upcoming commissioning of the four state-owned refineries as promised by the Nigerian National Petroleum Company Limited (NNPCL). It also advised Pinnacle Oil and Gas Limited that …

EIGHT NORTHERN STATES OCCUPY LOWEST POSITION IN INTERNALLY GENERATED REVENUE – NBS Eight states in the northern part of the country occupy the lowest position in internally generated revenue in 2023. The states were Taraba State at N10.8 billion, Yobe N11.1 billion, Kebbi N11.7 billion, Gombe N15.1 billion, Adamawa N17 billion, Sokoto N17.9 billion. Other States include; Borno N19.4 billion, …

OIL MARKETERS REPLY DANGOTE, DENY IMPORTATION OF SUBSTANDARD FUEL The Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has countered the claim by Dangote Refinery that any oil importers landing petrol at a price cheaper than what the refinery is selling are importing substandard products and conniving with international traders to dump low quality products into Nigeria. The refinery …

NO GOING BACK ON FOREX REFORMS, OIL AND GAS SECTOR – FINANCE MINISTER Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has stated that there is no going back on President Bola Tinubu’s reforms in the forex as well as the oil and gas sector. Edun made the disclosure when he received the newly assigned minister of …

HOW DANGOTE LIED TO TINUBU OVER 500M FUEL STORAGE CLAIMS, LOBBIES FOR FUEL SUBSIDY, WANTS PRESIDENT TO FORCE NNPC TO BUY PETROL AT N999/LITRE Aliko Dangote, the billionaire industrialist, reportedly misled President Bola Ahmed Tinubu regarding his fuel storage capacity, claiming to have 500 million litres available.It was gathered that Dangote is charging ₦990 per litre for loading at his …

AMIDST HIGH PRICE OF PETROL, MOTORISTS LAMENT AS FILLING STATIONS TAMPER WITH PUMP METRES Amid skyrocketing petrol prices, filling stations across Nigeria are reportedly engaging in under-dispensing practices by tampering with pump meters, resulting in customers paying more for less fuel.This manipulation, which has existed prior to recent price hikes, worsens the burden on Nigerians already struggling with elevated living …

NIGERIANS SLAM DANGOTE REFINERY OVER FUEL PRICE SECRECY Nigerians have slammed Dangote Refinery over its refusal to reveal its Premium Motor Spirit (Petrol) price months after the company began fuel distribution. This comes after Dangote Group on Saturday, through its official X account, denied claims by petroleum marketers that Dangote PMS is sold between N1,115 and N1,028 per litre. Yakubu …

PRICE OF DANGOTE FUEL HIGHER THAN OTHER SOURCES, WE’VE TO PITY NIGERIANS – IPMAN The Independent Petroleum Marketers Association of Nigeria, IPMAN, on Friday said that the price of fuel from Dangote Refinery, as of last week, was higher than the price of the product from other sources. IPMAN said members must go where the price is lower and where …