This follows President Bola Tinubu’s approval of a 15 per cent ad valorem import tariff on fuel imports, as part of the government’s strategy to protect local refiners and reduce the influx of cheaper imported products that threaten domestic refining investments. The new policy is set to take effect after a 30-day transition period, expected […]
The allegations were confirmed by the Depot and Petroleum Products Marketers Association of Nigeria, DAPPMAN, and the Petroleum Products Retail Outlet Owners Association of Nigeria, PETROAN, in separate interviews with journalists. The controversy comes as Dangote Refinery sets to slash petrol prices from N865 to N841 per litre in Lagos and the South-West, and to […]
This comes as petroleum product marketers plan an emergency meeting to drop fuel prices from Tuesday. The President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, disclosed this in an interview. “It is true. Dangote Refinery reduced its petrol ex-depot price to N840 from N880 per litre on Monday. We are happy.“Our members […]
It also adjusted its petrol pump price to ₦915 per litre at several of its Lagos retail outlets, marking a fresh upward shift in the downstream retail market. The latest increase marks a fresh spike of N45 and N35 in Lagos and Abuja, respectively, up from the previous prices of N870 and N910 per litre. […]
The report ‘Premium Motor Spirit (Petrol) Price Watch (May 2024)’, said on a state profile analysis, that consumers in Jigawa State paid the highest price of ₦937.50 for petrol, signaling a continuous rise in the price of the commodity since the removal of petrol subsidy by President Bola Tinubu on May 29, 2023. The report […]