*Diesel price drops by 0.34 percent OpeOluwani Akintayo 25 July 2018, Sweetcrude, Lagos — Nigerians paid an average price of N148…
Browsing: Premium Motor Spirit
OpeOluwani Akintayo 13 June 2018, Sweetcrude, Lagos — Nigerians paid an average price of N150.2 for premium motor spirit (petrol) in…
When asked to clarify if the current figure on petrol under-recovery was annually and how the federal government felt about it, the minister said: “Yes, currently. That is being addressed at a very high level and I don’t want to go into that.”
According to the lawmakers, the levy will be used to fund the Petroleum Equalisation Fund (PEF) as reflected in the new bill.
“We actually import one million tonnes of PMS every month into a country that produces oil and gas and has refinery. It is a shameful thing, it doesn’t make sense and that is what we are trying to address,” he said.
Mkpoikana Udoma 28 February 2018, Sweetcrude, Port Harcourt – Fuel station operators in Port Harcourt, the Rivers State capital, have urged…
The federal government in November 2017 disclosed that it was considering granting 13 operational licences for modular refineries in the Delta region. It also has, as part of its policy to revive the country’s oil sector, the Seven Big Wins, plans to incentivise the construction of modular refineries in the region.
He said, “Ultimately, the greater challenge that this country would have and still have is that of pricing. Everybody wants power, available gas and freely delivered fuel with no queues, but people are not willing to make the sacrifices that are essential for these things to happen.”
“I am happy to inform you that progress has been made, up to the level of an acceptable detailed engineering design and we are in the process of mobilising some of the refineries already identified for installation in Nigeria.”
This arrest confirms the NNPC’s position that products hoarding and diversion were responsible for the fuel supply shortages witnessed recently in some parts of the country.