Tag: Price
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JUST IN: FG requests one week to review petrol price
The Federal Government has requested for a week break from discussion with organised labour to consult on the new petrol price increase. Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Mele Kyari made the request at Thursday’s meeting with the leadership of organised labour at the Banquet Hall of the Presidential Villa, Abuja,…
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South-West IPMAN directs members to sell fuel at N150 per litre
The South West chapter of Independent Petroleum Marketers Association of Nigeria has directed all its members in the zone to henceforth, increase the pump price of Premium Motor Spirit, otherwise known as petroleum to N150 per litre. The official pump price had been N143 per litre. IPMAN South-West Zonal chairman, Alhaji Dele Tajudeen, who spoke…
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We never promised to keep petrol price low – FG
Nigeria’s minister of state for petroleum resources, Timipre Sylva, says the Federal Government did not at any time promise to keep the pump price of Premium Motor Spirit, or petrol, permanently low. In a statement published on Thursday on the ministry’s Instagram page, the minister also said the government had concluded that it could no…
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Expect increase in flight prices, FG tells Nigerians as domestic operations resume
The Nigerian government has approved the resumption of domestic flight as soon as practicable inline with existing international and local guidelines on COVID-19. The Chairman of the Presidential Task Force (PTF) on COVID-19, Boss Mustapha, who made this known at its bi-weekly briefing on Monday, said Nigerians should expect a hike in airfare. “The domestic…
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Open market price of petrol crashes to N114.53 per litre – PPPRA
The Petroleum Products Pricing Regulatory Agency (PPPRA) said the Open Market price of Premium Motor Spirit( PMS) also known as petrol, in the Nigerian market has dropped to N114.53 per litre. The Agency disclosed that petrol is now valued at N114.53 per litre from the Pricing Template for the commodity, released in Abuja, on Wednesday.…
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Atiku will crash fuel price in Nigeria – PDP
The Peoples Democratic Party, on Thursday, revealed that its presidential candidate, Alhaji Atiku Abubakar, has a pricing template that will crash the pump price of fuel in the country, if elected Nigeria’s president. PDP made this known in a statement, signed Kola Ologbodiyan, its National Publicity Secretary and shared on its verified Twitter handle, @OfficialPDPNig.…
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Oil price falls to $74 as Nigeria’s exports suffer
The international oil benchmark, Brent crude, on Tuesday continued its biggest losing streak since February, falling below $75 per barrel. The downturn in oil prices came on the heels of worries that Saudi Arabia and Russia could pump more crude to compensate for a potential supply shortfall, with hedge funds reducing bullish positions in crude.…
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Price for petrol drops, kerosene increases – NBS
The average price paid by consumers for Premium Motor Spirit (petrol) dropped by 1.2 per cent year-on-year, the Nigeria Bureau of Statistics (NBS), has said. According to a report on the NBS website, the Bureau also listed states with the highest and lowest average price of petrol in comparison with the approved government price of…
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Oil rises to $57.8 on fears of new Iran sanctions, Iraq conflict
Oil markets jumped on Monday on concerns over potential renewed U.S. sanctions against Iran as well as conflict in Iraq. An explosion at a U.S. oil rig and reduced exploration activity also supported prices there. Brent crude futures, the international benchmark for oil prices, were at 57.85 dollars. There were also concerns about the stability…
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Petrol price will soon fall – Kachikwu
Minister of State for Petroleum Resources Dr. Ibe Kachikwu predicted yesterday predicted Nigerians will see the price of petrol tumble in the next four, five to six months. His forecast is based on what he described as the competition inherent in the Premium Motor Spirit (PMS) price modulation. He said the price of diesel, which…