The current spike in the exchange rate of the dollar to the naira may be taking its toll on the country’s foreign-exchange-dependent aviation sector as airline operators seek to increase their fares by 45 per cent. The dollar exchange rate, which currently stands at N350, according to the airline operators, has further pushed the cost of running the business beyond […]
Continue reading »As the scarcity of kerosene continues to hit many households in the country, some fuel marketers are mixing the product with black oil to get Automotive Gas Oil, popularly known as diesel, our correspondent has learnt. Sources said the rise in the price of diesel was responsible for the development, which, according to them, has been on for some time […]
Continue reading »Aside the inconveniences experienced by air passengers on account of delayed or canceled flights since the week began, airline operators are counting their loses as the fuel scarcity continue to bite harder grounding at least two in every three flight operations nationwide. The airlines that have been struggling to remain in business due to economic crunch are now in dire […]
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The Major Oil Marketers Association of Nigeria (MOMAN) has faulted the claim by the Nigerian National Petroleum Corporation (NNPC) that it has a stock of 1.2 billion litres of petrol, saying such huge volume of products, equivalent to about 300 imported cargoes, could not be stored anywhere in the country! Earlier this month, the NNPC had stated that its downstream […]
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