The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a new agreement with Dangote Petroleum Refinery that could reduce petrol prices nationwide. IPMAN’s National President, Abubakar Garima, revealed the agreement during a press briefing in Abuja, following a meeting of the association’s National Working Committee. Under the new arrangement, IPMAN will now source PMS…
The Nigeria Labour Congress (NLC) has accused fuel marketers of inflating petrol prices, claiming the pump price is significantly higher than the actual market value. The NLC contends that Nigerians are being exploited, with citizens enduring heightened suffering and hunger due to government policies that are pushing many into destitution. In a communique released following…
GISTSMATE MEDIA reports that the Nigeria National petroleum company (NNPC) has increased fuel prices in the country. The increase, which was made through the Nigerian National Petroleum Company Limited (NNPCL), now means residents in Lagos will pay N1,025 per litre, while those in Abuja will pay N1,060 per litre. This development comes after petrol prices…
A peace agreement has been reached between the Nigerian National Petroleum Company Limited (NNPCL) and independent oil marketers, following a mediation led by the Director General of the Department of State Services (DSS), Adeola Ajayi. The agreement will see NNPCL allow the loading of products to cover the N15 billion owed to the marketers. Chinedu…
President of the Nigeria Labour Congress (NLC), Joe Ajaero, detailed the NLC’s reasoning behind accepting a N70,000 minimum wage offer during a recent interview on Arise Television’s Morning Show. Ajaero explained the decision occurred amid discussions with President Bola Tinubu at the Presidential Villa, Abuja, where the NLC turned down further fuel price increases while…
A Nigerian lawyer and human rights activist, Femi Falana (SAN), has knocked the decisions of Nigeria National Petroleum Company to fix prices of imported fuel and locally refined fuel, which are illegal, null, and void. In a statement on Thursday, Falana said the move contravenes the provisions of section 205 of the Petroleum Industry Act….
Former Vice President Atiku Abubakar has slammed President Bola Tinubu for being undisturbed by the hardship his policies including the removal of petrol subsidy has inflicted upon Nigerians. In an X post on Thursday, Atiku, the 2023 presidential candidate of the Peoples Democratic Party (PDP), labelled Tinubu as “T-Pain” for drowning the well-being of Nigerians….
The Federal Government has distanced itself from the recent increase in fuel prices, citing the Nigerian National Petroleum Company Limited’s (NNPCL) decision to raise prices in response to prevailing market conditions. The price hike, which saw fuel prices jump from N897 to N1,030 in Abuja, N855 to N998 in Lagos, and similar increases across other…
The President of the Nigeria Labour Congress (NLC), Joe Ajaero, has condemned the fuel pump price increase by the Nigerian National Petroleum Company Limited, noting that a registered private company should not dictate fuel prices for Nigerians. GISTSMATE MEDIA earlier reported that the NNPC raised the retail price of petrol to N1,030 from N897 per…
The Nigerian National Petroleum Company Limited (NNPCL) on Wednesday, October 9, informed marketers of its upward review of the Premium Motor Spirit (PMS) ex-depot prices. Its NNPCL Retail Limited sent a price list informing them that the ex-depot price at Calabar is N1,050 per litre. The National Oil Company said the depot price in Lagos…