Tag: PMS
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FG explains deregulation of oil downstream sector
The Minister of State for Petroleum Resources Chief Timipre Sylva says the deregulation of the downstream oil sector was to ensure economic growth and development of the country. Sylva made this known in a statement in Abuja, on Thursday. He said it was unrealistic to continue to subsidise the Premium Motor Spirit (PMS) also known…
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PPPRA explains ambiguity in deregulation of petrol pump price
The Petroleum Products Pricing Regulatory Agency (PPPRA) says it is no longer fixing the pump price of Premium Motor Spirit (PMS) also known as petrol for marketers. PPRA Executive Secretary, Mr Saidu Abdulkadir made this known in a statement in Abuja on Sunday. Abdulkadir, however, said the agency would constantly, on a monthly basis, develop…
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Petrol price: FG urged to enforce holistic industry reform
A coalition of Civil Society Organisations (CSOs) has called on the Nigerian government to enforce a holistic reform in the country’s oil and gas industry. The CSOs, comprising of 13 different organisations working to promote transparency and accountability in the industry made the call in a communique following developments in the sector. They observed that…
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PPPRA removes price cap on petrol
The Petroleum Products Pricing Regulatory Agency (PPPRA) has removed the cap on the price of Premium Motor Spirit (PMS) also known as petrol. The agency made the disclosure in a document it released in Abuja on Thursday entitled, ‘’Market Based Pricing Regime for Premium Motor Spirit (PMS) Regulations, 2020’’. It said in the document signed…
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IPMAN confirms purchase of PMS at N108 per litre ex-depot price
The President, Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr Chinedu Okoronkwo says its members have started buying Premium Motor Spirit (PMS) also known as petrol at N108 ex-depot price as announced by NNPC. Okoronkwo, who made this known in an Interview in Abuja, on Sunday, said the new price is only good for those…
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Depot price of PMS remains N133.28 per litre, NNPC insists
Nigerian National Petroleum Corporation says that the ex-depot price of Premium Motor Spirit (PMS) also known as petrol remains N133.28 per litre. Mr Ndu Ughamadu, the NNPC Group Spokesman, disclosed this in an interview with the News Agency of Nigeria(NAN), in Abuja on Tuesday. He said that Nigerians should ignore any specualtions that pump price…
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N800bn ‘fuel subsidy’ drags down govt’ revenue
The Nigerian National Petroleum Corporation (NNPC) at the moment spends N53 under-recovery in terms of petroleum products pricing for every litre of Premium Motor Spirit (PMS) consumed by Nigerians. TheNewsGuru (TNG) reports Director of Budget in the Ministry of Budget and National Planning, Ben Akabueze made this known while fielding questions from participants at the…
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Nigerians paid more PMS in September – NBS
The National Bureau of Statistics (NBS) said the price paid by consumers for Premium Motor Spirit (Petrol) increased to N147.30 in September from N146.90 recorded in August. The NBS disclosed this in its Premium Motor Spirit (Petrol) Price Watch report for September 2018 on Monday in Abuja. According to the bureau, the price…
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PMS scarcity: Sell at N145 or lose your petrol, DPR warns marketers in Anambra
The Department of Petroleum Resources (DPR) has warned marketers within its Enugu Zone to comply with N145 pump price of Premium Motor Spirit (PMS) or have their products dispensed to customers free. Mr Unyime Akpan of Health, Safety and Environment Department, DPR Enugu Office, gave the warning in Awka when he led an enforcement team…