The Petroleum Products Pricing Regulatory Agency (PPPRA), on Tuesday said it has no plan to increase the pump price of petrol in the country by N5 per litre, stating that the news that it had such plan were untrue.
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The Nigerian Union of Petroleum and Natural Gas Workers has criticised the proposed N5 petrol levy by the Senate, describing it as a huge joke.
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— Motorists to pay N5 tax on one litre — Govt to maintain roads with funds — IPMAN, NUPENG oppose move A Fresh increase in the pump price of petrol is among the contents of a bill that has been approved by the Senate Committee on Works. It was presented yesterday for enactment by the upper chamber.
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The capacity of the Major Oil Marketers Association of Nigeria (MOMAN) and the Depot and Petroleum Products Marketers Association (DAPPMA) to import petroleum products has continued to weaken as unpaid subsidy claims and matured Letters of Credit (LCs) arising from the old subsidy regime hit $2 billion.
Continue reading »The Nigerian National Petroleum Corporation, NNPC, yesterday, denied any plan to further hike the price of Premium Motor Spirit, PMS, also known as petrol, stating that current realities on ground didn’t support any increase. Addressing newsmen in Abuja, Group General Manager, Group Public Affairs Division of the NNPC, Mr. Muhammad Garba-Deen, said there was absolutely no plan by the Federal […]
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The organised labour has threatened to call out its members for a strike should the federal government go ahead to increase pump prices of petroleum products. According to the NLC President, Ayuba Wabba, such action will worsen the suffering workers are experiencing from the negative impact of a similar upward review of petroleum products prices carried out last year. He […]
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Former and present Group Managing Directors of the Nigerian National Petroleum Corporation have expressed fears that the current pump price of N145 per litre is no longer feasible. They said the amount does not correspond with the price-determining components of the commodity and the fluctuations of the foreign exchange rate. They stated this after a one-day meeting they held with […]
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