Marketers Project N350/litre Pump Price As Depots Sell N220/litre   The pump price of Premium Motor Spirit, popularly called petrol, could hit N400/litre at most filling stations before the end of this year, going by the continued scarcity of the product, oil marketers stated on...

Queues Persist As Petrol Stock Plunges By 5.48m Litres   The Nigerian National Petroleum Company Limited’s stock of Premium Motor Spirit, popularly called petrol, dipped by 5,481,239 litres, according to industry data released on Tuesday. Although the drop in PMS stock was marginal, queues for petrol persisted...

FG Borrowed N1trn To Fund Fuel Subsidy - DMO   The Federal Government has borrowed N1 trillion to subsidise petrol this year, the Debt Management Office (DMO) said yesterday. Its Director-General, Ms. Patience Oniha, spoke during the presentation at the Executive Course on Budgeting and Fiscal Transparency...

NNPC Shifts Fuel Subsidy Payment Burden To FG   The burden of fuel subsidy payment, a sore issue in the petroleum industry, has been shifted from the Nigerian National Petroleum Company (NNPC) Limited to the Federal Government. NNPC Limited Group Chief Executive Officer Mele Kyari said it...

Fuel Price: Confusion As N179/litre Controversy Worsens   A document displaying the costs of Premium Motor Spirit, popularly called petrol, in various regions of Nigeria is causing confusion among PMS consumers as the Federal Government remained mute about the matter on Tuesday. Although some operators in the...

Crude Oil Price Hits Over $100/barrel   The price of crude oil climbed above the $100 mark on Sunday hitting $101.16/barrel after trading around $98/barrel since Tuesday, as oil marketers in Nigeria maintained an increased pump price for Premium Motor Spirit, popularly called petrol, higher than...