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Nigeria to sell crude in Naira to Dangote Refinery

As part of measures adopted to strengthen the currency and by extension the nation’s economy, the Federal Government has concluded plans to sell crude oil to the $15 billion Dangote Refinery in Naira. Inspecting the ongoing construction of the Dangote Refinery, Petrochemicals Complex Fertiliser Plant, and Subsea Gas Pipeline project at Ibeju…

Nigeria spent N10.7tn on fuel subsidy in 10 years – MOMAN

The Major Oil Marketers Association of Nigeria has said that the country spent a total of N10.7tn on fuel subsidy in the last 10 years. The Association's Chairman,  Mr Adetunji Oyebanji, who was the guest speaker at the 18th Aret Adams Lecture on Thursday, said N750bn was spent on subsidy in 2019.

DPR seeks investors for modular refineries

The licensing of more modular refineries to come on stream would put an end to the problem of product scarcity in the country, the Department of Petroleum Resources has said, as it plans to license more of such refineries.

NNPC, marketers differ on petrol price

While marketers claimed that the NNPC has not increased the ex-depot price of petrol, private depot owners have raised their prices. Meanwhile, the Nigerian National Petroleum Corporation on Thursday said it had not affected any increase

DPR threatens sanctions over fuel hoarding

Fuel depot owners have been warned against the hoarding of petroleum products in their facilities. The Department of Petroleum Resources gave this warning recently saying that erring members would be sanctioned.

Nationwide fuel price hike looms

The price of Premium Motor Spirit popularly called petrol seems to have become a bone of contention in the country even as marketers met in Abuja to discuss the matter.

Depots suffer as marketers raise petrol price

Fuel marketers have started adjusting their petrol pump prices amid the supply shortage facing private depots in Apapa. Our correspondent observed that some filling stations in Lagos and Ogun states increased the pump price of petrol to N170 per litre on Tuesday from N162 per litre. Some of the stations were Capital Oil and Gas, Fatgbems and…
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