An official statement from the Federal Government of Nigeria has been issued to explain the current fuel shortages in the country. According to the government, it identified extremely high levels of methanol in one of its public supplies but claimed that it had been...

Petrol Subsidy: FG To Continue Bridging Cost Payment   The Chief Executive Officer (CEO) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr Farouk Ahmed has disclosed that the Federal Government will continue to pay the cost of bridging petrol to ensure its availability...

NNPC Dismisses Price Hike Rumour, Admits Hitches In Depots   The Nigerian National Petroleum Corporation has admitted that there are pricing issues at some petrol depots in the country but ruled out any hike in the pump price of the product. The Economic Confidential had reported on...

Fuel Marketers Quarterly Revenue Increase By N88.94bn       The total revenue reported by five of the major oil marketing companies in the country rose by 55.6 per cent in the second quarter of this year, signaling a gradual recovery from the COVID-19 pandemic amid the challenges...

Fuel Scarcity Looms As IPMAN Threatens To Shut Down Filling Stations     The Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to shut down all filling stations across the country. IPMAN warned that it might also cut down supplies from tomorrow should the federal government and...

Fuel Marketing Companies' Revenue Decline By N331.54bn       Five of the major oil marketing companies in the country saw their total revenue plunge by N331.54bn last year amid the impact of the COVID-19 pandemic. The companies, including Total Nigeria Plc and Conoil Plc, saw their combined revenue...