PMS
PPPRA fixes petrol ex-depot price for N138.62
The Petroleum Products Pricing Regulatory Agency (PPPRA) kept the petrol dealers guessing on Tuesday when it approved an ex-depot price of N138.62 per litre for the Premium Motor Spirit (PMS) petrol and kept the pump price to its chest. The post PPPRA fixes petrol ex-depot price for N138.62 appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Petrol price hike a move to end subsidy regime – expert
AHA Taxis Nigeria’s first professor of the Capital Market and former Imo State Finance Commissioner, Prof Uche Uwaleke, on Wednesday described the hike in petrol price from N123.50k/litre to a price band of N140.80 to N143.80 as an indication that the Federal Government was ready to gradually exit the fuel subsidy regime. The Petroleum Products Pricing and Regulatory Agency (PPPRA), in a memo to oil marketers on Wednesday, said that the upward review of petrol price stemmed from existing market realities which were taken into consideration before the new pump price was released. Prof Uwaleke told newsmen that exiting the subsidy regime was necessary in view of plummeting government revenue and the pressure on government finances occasioned by COVID-19. ‘Fortunately for the Nigerian economy...
Marketers call for appropriate legislation on fuel subsidy removal
AHA Taxis Marketers are calling for appropriate legislation that will enforce the new fuel subsidy removal policy of the Federal Government. Speaking during a webinar on the downstream sector at the weekend, the Managing Director of 11 Plc, and Chairman of Major Oil Marketers Association of Nigeria (MOMAN), Adetunji Oyebanji, stated that there are some misconceptions that government has given permission to marketers to import premium motor spirit (PMS) otherwise called petrol. “There was never a time government stopped marketers from importing. It was the economics of it that made marketers stopped because it didn’t make sense to import products at a price that is higher than the government fixed price for the product at the pump. Gradually, all the players involved in importation stopped,...
Female passer-by burnt to death as tanker loses control on Ibadan expressway
A female passer-by was on Saturday night burnt to death in an accident around Lotto area of the Lagos-Ibadan expressway. Babatunde Akinbiyi, Spokesperson, Traffic Compliance and Enforcement Corps (TRACE), disclosed this to newsmen in Abeokuta on Sunday. Akinbiyi explained that the incident involving a tanker loaded with PMS and a commercial Mazda bus took place around 8:03pm. on Saturday. “According to an eye witness, a PMS laden truck lost control on motion and hit the barrier. “The content immediately started gushing out and after a while the content caught fire and two other parked vehicles got burnt in the process. “Unfortunately, one adult female passer-by along the axis got burnt too,” he said. Akinbiyi disclosed that the PMS laden tanker, however, escaped the inferno. He added that ...
Edo marketers defy petrol price reduction
AHA Taxis Independent petroleum Marketers within Benin metropolis in Edo, have continued to dispense petrol at N125 per litre in deference to the recently announced pump price of N108 per litre. It would be recalled that the Nigerian National Petroleum Corporation (NNPC) on Wednesday announced a reduction in the ex-depot price of petrol to N108 per litre This was the second time the NNPC has dropped the price of petrol after its first reduction on March 19, 2020, to N125. However, investigation shows that filling stations across Benin, the capital city of Edo, still maintained their old pump price of N125 per litre. Speaking in separate interviews on Saturday, motorists lamented that five days after the directive, all the filling stations, including the NNPC Mega station, had refused to ad...
Petrol to sell at N117 per litre as PPMC cuts ex-depot prices
AHA Taxis The Petroleum Products Marketing Company (PPMC), Wednesday, slashed the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to N108 per litre, a move reflecting the drop in crude oil prices. It is also expected to result in a lower pump price at petrol stations by end of this week. In a memo to oil marketers and other stakeholders in the petroleum marketing business, dated May 5, 2020, with the subject: ‘Re: PPMC Petroleum Products Prices for May 2020,’ the PPMC also slashed the ex-depot price of Automotive Gasoline Oil, also known as diesel, to N164 per litre for depots in Lagos and N166 per litre for depots in Oghara, Calabar, Port Harcourt, among others. The indicated that the new prices would take effect from May 5, 2020. The ex-depot price is the price at whi...
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