Tag: PMS
BREAKING: Dangote Refinery Begins Petrol Production
Aliko Dangote, Africa’s richest man and founder of the Dangote Group, has officially announced the commencement of petrol production at the highly anticipated Dangote Refinery. The announcement marks a significant milestone in Nigeria’s energy sector. During a press briefing, Dangote expressed his profound gratitude to President Bola Ahmed Tinubu for authorizing the sale of crude…
NNPC Ltd Faces Financial Challenges, Warns of Potential Fuel Supply Disruptions
Abuja, Nigeria — The Nigerian National Petroleum Company Limited (NNPC Ltd.) has confirmed facing significant financial strain due to the rising costs of Premium Motor Spirit (PMS) supply. The company acknowledged recent reports in national newspapers that highlighted its substantial debt to petrol suppliers, which is now threatening the sustainability of fuel supply across the…
Dangote Refinery Delays Petrol Production Start to Mid-July
Lagos, Nigeria — June 10, 2024 — The commencement of petrol production at the $20 billion Dangote Refinery in Lagos has been postponed from June to mid-July, according to Aliko Dangote, the President and CEO of Dangote Group. During a meeting with journalists on Monday, Dangote confirmed the shift in the production timeline, attributing it…
Nigerian Petrol Smuggled into West African Markets Now Selling for N1,700 per Litre
— The Federal Government has raised alarms over the resurgence of petrol smuggling activities, attributing the uptick to the substantial price disparity between Nigeria and its neighboring countries. Currently, smuggled Nigerian petrol is being sold for as much as N1,700 per litre in West African markets. During a press briefing in Yola, the Comptroller-General of…
Nigerian Petroleum Marketers Register with Dangote Refinery Ahead of June Petrol Launch
Lagos, June 10, 2024 — As Nigerians eagerly anticipate the availability of petrol from the Dangote Petrochemical Refinery this month, petroleum marketers have begun the registration process with the company in preparation for loading the product. The marketers are signing up as independent business proprietors to request direct fuel supply from the oil refinery, signaling…
Petrol Shortage Expected to Last Two Weeks, Says IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN) disclosed yesterday that the ongoing petrol shortage, affecting several states in the country, is anticipated to persist for about two weeks. While the Nigerian National Petroleum Company Limited (NNPCL) affirmed having sufficient product supply, the Public Relations Officer of IPMAN, Chinedu Ukadike, attributed the scarcity to sourcing…
Oil Marketers Propose N550 per Litre for PMS as Dangote Refinery Prepares to Reduce Prices
Introduction:Exciting developments are on the horizon for Nigeria as oil marketers anticipate a reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol. Discussions between oil marketers and Dangote Refinery have progressed positively, with a proposed price of N550 per litre of petrol on the table. Details of the Proposal:According to Alhaji…