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…
Filling stations belonging to the Nigerian National Petroleum Corporation Limited (NNPCL) have increased the pump price of fuel. The product which previously sold for N897 in Abuja, the nation’s capital, currently sells for N1,030. Daily Trust correspondent who visited an NNPC outlet in Maitama observed how motorists queued up to purchase the product amid complaints….
The Nigeria Labour Congress said on Thursday that President Bola Tinubu betrayed organised labour, using the price of Premium Motor Spirit, commonly called petrol, as bait. The organised labour stated that at the negotiation which informed the acceptance of N70,000 by the organised labour, President Tinubu offered the option not to increase the petrol price….
Former Nigerian President Muhammadu Buhari has been photographed at his official residence in the United Kingdom, amidst an ongoing fuel crisis back home in Nigeria. Buhari, who served as President from 2015 to 2023, handed over power to his successor, Bola Tinubu, on May 29, 2023. Meanwhile, back in Nigeria, the pump price of petrol…
The Nigeria Security and Civil Defense Corps has said that its operatives arrested seven suspected miscreants during last Thursday’s fuel hike protest by commercial vehicle operators in Ilorin, Kwara state capital. The suspects, according to a statement issued on Saturday by the Public Relations Officer of NSCDC in Kwara command, Ayoola Michael, were allegedly involved…
Benson Upah is the spokesperson for the Nigeria Labour Congress (NLC). In this interview with Weekend Trust, he expressed concern that the price of fuel may increase to N5,000 per litre. He added that the recent increase runs contrary to the agreement the union reached with the federal government. During the week, the price of…
The Nigerian National Petroleum Company Limited (NNPC Ltd) has said it has no desire or intention to be the sole offtaker of petrol produced by the Dangote Refinery Limited, DRL. NNPC Ltd said this while reacting to claim by the Muslim Rights Concern, MURIC, which claims that the Dangote Refinery Limited (DRL) is being undermined…
The Nigerian National Petroleum Company Limited (NNPCL) says foreign exchange illiquidity has been a significant factor influencing the fluctuation in prices of Premium Motor Spirit (PMS), popularly known as petrol. These, it said, are governed by unrestricted free market forces, as provided for in the Petroleum Industry Act (PIA). GISTSMATE MEDIA reports that the newest…