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Oil marketers agree to sell at N145, requests tax holiday

Against their previous position, the oil marketers have agreed with the Federal Government to sell petrol at the rate of N145 per litre. The marketers had on Tuesday complained that they could not import petrol at N145 per liter controlled price, but on Wednesday the marketers reversed their their position...

NOA attributes fuel scarcity to hoarding by marketers

The Director-General, National Orientation Agency (NOA), Dr Garba Abari, has attributed the present fuel scarcity to deliberate hoarding by some unpatriotic marketers. Abari in a statement on Saturday in Abuja described it as an intentional “ploy by conscienceless and unpatriotic marketers to force government to increase the pump price of...

Petrol Subsidy Back: sources

Agency Report Abuja – Petrol subsidy is back. The Nigerian National Petroleum Corporation has been offsetting for months the difference between the landing costs of petrol and the pump price. In series of interviews with knowledgeable players in the sector, NAN can report authoritatively that the landing costs per litre of...

Strike: Fuel depots may run dry by Wednesday

Should the ongoing strike embarked upon by the Petroleum and Natural Gas Senior Staff Association of Nigeria be allowed to linger beyond Wednesday, most depots in Apapa, Lagos, will run out of fuel stock, our correspondent has learnt. Following the commencement of the strike on Thursday, loading at Apapa depots,...

Fuel price increase: Meeting between FG and Labour ends in a deadlock

Meeting between the Federal Government and labour union regarding the increase in the price of petrol which lasted till midnight ended up in deadlock. Both parties seems not to have reached any logical conclusion on the new petrol price as the labour union were not convinced by the figures presented...

Oil workers asks for N90,000 minimum wage after fuel subsidy removal

With the just-announce increment in price of petrol from N86.5 to N145, oil workers in Nigeria has also made a counter move of requesting from federal government an increase of wages from N18,000 to N90,000. “With the new pump price of N145 per litre, government must speed up the negotiation...

Fuel subsidy removal: Naira tumbles against dollar

The increment in the price of petrol to N145 per litre has led to a drastic fall of naira against United States dollar at the parallel market from N321 to N341 on Wednesday. Minister of state for Petroleum Resources, Dr. Ibe Kachikwu, announced on Wednesday the removal of fuel subsidy and...

“It’s fraudulent”– Fayose blast Buhari over increment of fuel prices

Governor Ayodele Fayose has called out President Muhammadu Buhari following the recent subsidy removal raising petrol price to N145 from N86.5 per litre. Mr Fayose said Buhari and his party, All Progressives Congress, has defrauded Nigerians. He queried the Federal Government's notion of paying N58.50 as subsidy on one litre...

Petrol Price @ N145: Minister of Petroleum resources releases statement

Following the latest report on fuel subsidy removal, leading to sale of petrol at N145 per litre, the Minister for state for Petroleum Resources, Dr. Ibe Kachikwu has confirmed the claim and released press statement in that effect. Read the statement below: We have just finished a meeting of various stakeholders presided...

Fuel subsidy finally removed, PMS sells at N145

The serial challenge of fuel scarcity might have taken another turn with the report reaching us that the Federal Government has finally removed the fuel subsidy with a resultant effect of increase in the price of Premium Motor Spirit (PMS) to N145 per litre. Pump price has been oscillating between...

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