…petrol pricesLegit.ng earlier reported that the Dangote Petroleum Refinery and major oil marketers have reduced petrol prices across several Nigerian depots following a decline in international crude oil prices, raising expectations of cheaper fuel at filling stations. The latest depot price report by Petroleumprice.ng…
The Federal High Court in Abuja ruled against the NMDPRA after three major oil marketers challenged the regulator's handling of their import licencesJustice Inyang Ekwo found that the NMDPRA's conduct put it in direct conflict with the Petroleum Industry Act 2021Petroleum dealers pushed back on the ruling, raising conc…
…Nigeria.Dangote crashed petrol prices below landing costsLegit.ng earlier reported that Oil marketers are increasingly lifting petroleum products from the Dangote Petroleum Refinery as the cost of importing petrol and diesel remains above the refinery’s selling prices. The widening price advantage comes as some filling…
…that were not delivered. “During the subsidy regime, a lot of funds allocated to oil marketers were not going to the designated areas. “Funds were allocated to bogus marketers to transport oil tankers, but they ended up collecting the money without transporting any oil,” he alleged. ‘Transparent subsidy regime will red…
…and has advocated private-sector involvement. Aside from Obasanjo, stakeholders like oil marketers, manufacturers and the organised private sector have also requested that the facilities be sold off. But Tinubu’s latest statement suggested that he is with the NNPC boss, Bayo Ojulari, who recently announced a memorandum…
According to him, such an institution will work directly with refiners and marketers to absorb market risks, facilitate product distribution, and stabilize fuel pricing. He urged the Federal Government to introduce additional incentives that would support independent marketers and help keep fuel prices affordable for c…
…Petroleum Regulatory Authority (NMDPRA) to continue issuing import licences to qualified marketers. The association said increased competition among suppliers would help moderate prices, discourage monopolistic tendencies and ensure steady supply of petroleum products. PETROAN urged the Group Chief Executive Officer of…