Tag: PMS
NNPCL Confirms Purchase of Petrol from Dangote Refinery at N898 Per Liter
In a significant update, the Nigerian National Petroleum Company Limited (NNPCL) has confirmed that it is purchasing Premium Motor Spirit (PMS) from the Dangote Refinery at a rate of N898 per liter. This confirmation came in a statement released by NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, who also addressed concerns about the pricing structure….
Dangote Refinery Refutes Claims of Selling PMS at N898 to NNPCL, Awaits Formal Pricing Announcement
The Dangote Refinery has strongly denied claims circulating that it is selling Premium Motor Spirit (PMS) to the Nigerian National Petroleum Company Limited (NNPCL) at N898 per liter. In a press statement released on September 15, 2024, the refinery’s spokesperson, Anthony Chiejina, described the statement attributed to NNPCL’s spokesperson, Mr. Olufemi Soneye, as “misleading and…
Nigeria Takes Major Step Toward Energy Self-Sufficiency: Diesel and PMS Now Manufactured Locally
In a historic move, Nigeria has successfully commenced the local production and sale of Diesel and Premium Motor Spirit (PMS) for the first time in years, marking a significant milestone in the nation’s journey toward energy self-sufficiency. The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Chairman of the…
Nigeria Takes Major Step Towards Energy Self-Sufficiency: Crude Purchase and Product Sales in Naira Commence
Abuja, Nigeria – September 13, 2024 In a landmark development aimed at reducing pressure on the naira, eliminating transaction costs, and enhancing the availability of petroleum products, the Federal Government has officially launched the sale of crude oil to local refineries and the corresponding purchase of petroleum products in naira. The Honourable Minister of Finance…
Petroleum Marketers Seek Clarity on Dangote Refinery Petrol Pricing
The President of the Petroleum Products Retail Outlets Owners Association, Billy Gillis-Harry, has called on the Dangote Refinery to disclose the pricing of its petrol, stating that local marketers are eager to engage with the refinery but are currently unaware of its pricing structure. Gillis-Harry expressed that the lack of transparency has made it impossible…
Dangote Refinery Agrees to Sell Crude and Buy Fuel in Naira Amid Potential Losses
In a bold move aimed at supporting Nigeria’s economy, Aliko Dangote, Africa’s richest man and owner of the Dangote Refinery, has agreed to the federal government’s proposal to sell crude oil in naira and buy fuel in the local currency, despite the likelihood of incurring significant financial losses. The Vice President of Dangote Group, Edwin…
IPMAN: Fuel Pricing to Be Driven by Competition Between NNPC and Dangote Refinery
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has indicated that the price of petrol will determine whether its members purchase from the Nigerian National Petroleum Company (NNPC) or Dangote Refinery. According to Ukadike Chinedu, the National Publicity Secretary of IPMAN, marketers will seek the most cost-effective source as competition between local suppliers sets in….
NNPC Clarifies: Dangote Refinery Free to Offer Competitive Prices in Nigerian Market
The Nigerian National Petroleum Company Limited (NNPC Ltd) has responded to claims made by the Muslim Rights Concern (MURIC) that its actions may be undermining the operations of the Dangote Refinery Limited (DRL). In a statement released today by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., the company emphasized that the Nigerian market…
NNPC Clarifies PMS Price Fluctuations Amid Forex Challenges
Abuja, Nigeria – The Nigerian National Petroleum Company Limited (NNPC Ltd.) has clarified that the recent fluctuations in the price of Premium Motor Spirit (PMS), commonly known as petrol, are primarily due to foreign exchange (forex) illiquidity, as well as the influence of free market forces, in line with provisions of the Petroleum Industry Act…
Dangote Refinery Denies NNPC Lifting of Petrol, Refutes Reports on Pricing
Lagos, Nigeria – The Dangote Group has officially refuted claims that the Nigerian National Petroleum Corporation (NNPC) has begun lifting refined petrol from its refinery, following a misleading headline published by BusinessDay on September 4, 2024. The article alleged that NNPC had started lifting petrol from the Dangote Petroleum Refinery and was selling it at…