In response to the continuous depreciation of the Nigerian naira against the US dollar, the Dangote Petroleum Refinery has raised the price of diesel from ₦940 per litre to ₦1,100 per litre. This decision comes after a series of consultations with oil marketers and an initial price reduction from ₦1,200 per litre to ₦1,000 per … Read more
Independent marketers expect the current fuel supply crisis in parts of the country to abate not later than next week. Their optimism is hinged on the ongoing efforts to free seven fuel-laden vessels trapped in Warri. The vessels are carrying a total of 150 million litres of Premium Motor Spirit (PMS) an official of the … Read more
The Nigerian National Petroleum Company (NNPC) Limited says it has not changed the pump price of premium motor spirit (PMS), also known as petrol, throughout its retail outlets. There have been reports that the NNPC has dropped the price of petrol to N560 per litre from N568. The national oil company was also described as … Read more
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, said that the apex bank is working to reduce the headline inflation rate to 21.4 per cent this year. Cardoso gave this assurance in a keynote address at the launch of the Nigeria Economic Summit Group 2024 Economic Outlook report. The inflation rate … Read more
The Nigerian National Petroleum Company Limited (NNPC Ltd) has stated that there would be no increase in the price of petrol in the near future. Olufemi Soneye, the company’s chief corporate communications officer, also warned motorists against panic buying. The statement came amid reports that the corporation battled with petroleum merchants under the auspices of … Read more