Billionaire businessman, Mr Femi Otedola, yesterday said that up to N2 trillion was siphoned in questionable fuel subsidy claims under the Goodluck Jonathan administration, narrating how he warned the ex-President about fraudulent oil marketers at the time. In a statement on recent issues in the oil and gas sector, especially in the downstream, Otedola also…
Dangote Petroleum Refinery has disclosed that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) demanded an annual subsidy of N1.505 trillion to enable members to match the refinery’s gantry prices at their own depots. The refinery disclosed that although it offers petroleum products to marketers at its gantry price, DAPPMAN insists on taking…
Some fuel importers in the country have alleged that the Dangote refinery sells a litre of petrol to international traders at N65 cheaper than the amount it gives the product to marketers in Nigeria. The Depot and Petroleum Product Marketers Association of Nigeria, Petroleum Products Retail Outlet Owners Association of Nigeria confirmed this in separate…
Oil marketers under the aegis of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) have raised alarm about potential risks linked to the naira-for-crude oil policy. On March 10, TheCable reported that the Nigerian National Petroleum Company (NNPC) Limited had reportedly suspended the naira-for-crude deal until 2030, as the government-owned company has forward-sold…