Business

:OUR PETROL IS 15% CHEAPER THAN IMPORTED FUEL – DANGOTE President of Dangote Group and Africa’s richest man has said that the price of Dangote Refinery’s petrol is 15 percent cheaper than the ones imported by the Nigerian National Petroleum Company Limited. The billionaire disclosed this in an interview with Bloomberg Television on Monday. His comments were weeks after NNPCL …

ANOTHER HIKE IN ELECTRICITY TARIFF LOOMING Another electricity tariff hike may be introduced in October 2024 by the Nigerian Government as the country’s monthly power subsidy rose to N181,63 billion in September. This comes as the electricity subsidy by the Federal Government rose to N181,63 billion in September from N102.30 billion in May. In the last three months, the government …

HIGH PETROL PRICE HAS WIPE OUT N70,000 MINIMUM WAGE – NLC The Nigeria Labour Congress (NLC) has raised concerns that the current price of Premium Motor Spirit, popularly known as petrol has eroded the benefits of the proposed N70,000 new national minimum wage, which is yet to be implemented. NLC President Joe Ajaero made this statement during a two-day workshop …

REFINERS ANGRY AS MARKETERS DUMP DANGOTE REFINERY FOR IMPORTED FUEL Crude Oil Refiners Association of Nigeria has kicked against a move by petroleum marketers to import Premium Motor Spirit (Petrol) despite the availability of Dangote Refinery Petrol. Publicity Secretary of CORAN, Eche Idoko, made this known in a statement condemning the move. His comments come as a report emerged that …

DANGOTE REFINERY: OUR HOPE DASHED – NIGERIANS Despite the rollout of premium motor spirit (PMS) otherwise known as petrol from the Dangote Refinery on Sunday, Nigerians have expressed disappointment over the high price of fuel.They said their hope on the refinery for a reduced fuel price after recent increment of pump price was dashed with the price sold to the …

OPEC BLAMES HIGH FUEL PRICES IN NIGERIA ON GOVT IMPOSED TAXES Nigeria’s fuel price hike has sparked widespread concerns, with many pointing fingers at oil producers, particularly local operators like Dangote Refinery. However, OPEC Secretary General, Haitham Al Ghais, has set the record straight, revealing that the real reasons behind high fuel prices lie elsewhere—primarily in taxes imposed by governments, …

FUEL PRICE HIKE: MARKETERS GIVE CONDITIONS TO BUY DANGOTE PETROL, EYE IMPORT Petroleum marketers in Nigeria say they are standing in limbo over the controversy surrounding Dangote Refinery Premium Motor Spirit (petrol) pricing as released by the Nigerian National Petroleum Company Limited on Monday. This comes as the petroleum marketers demanded that Dangote Refinery should disclose the price it sold …

HOPE DASHED AS FUEL FROM DANGOTE REFINERY COSTS MORE THAN IMPORTED ONEAs news broke that the Dangote Refinery had reached agreement to sell petrol to the Nigerian National Petroleum Company Limited (NNPCl), Nigerians began feeling excited and hoping that gasoline prices would drop in the country.However, that hope was dashed on Sunday when the NNPCL announced that it bought petrol …

IT MAKES NO SENSE TO SELL DANGOTE PETROL HIGHER THAN IMPORTED ONE – IPMAN The Independent Petroleum Marketers Association of Nigeria (IPMAN) says it doesn’t make sense for the Nigerian National Petroleum Company Limited (NNPCL) to sell petrol lifted from the Dangote Refinery higher than imported ones. IPMAN National Welfare Officer, John Kekeocha, stated this on Channels Television’s The Morning …

NNPC REVEALS PRICES OF PETROL FROM DANGOTE REFINERY The Nigerian National Petroleum Company Limited has said that it will sell the petrol lifted from the Dangote Refinery at a price above N1,000 per litre in the far north. The NNPC spokesperson, Olufemi Soneye, disclosed this on Monday, in a statement titled, ‘NNPC Ltd Releases Estimated Pump Prices of PMS from …