PPPRA

Managing director of Rain Oil Limited, Dr.Gabriel Ogbechie has said Nigeria would be able to generate over N10 billion ($27 million) annually if 50 per cent of kerosene users can switch to using Liquefied Petroleum Gas (LPG) or cooking gas.

The Managing Director of Rain Oil Limited, Dr. Gabriel Ogbechie, has advocated the need for the Federal Government to fully deregulate the nation’s downstream sector of the petroleum industry.

The House of Representatives has resolved to conduct an investigative hearing on the decision of the Nigerian National Petroleum Corporation (NNPC) to shut down operations at the Warri Refining and Petrochemical Company.

Following the alleged pump price increase of Premium Motor Spirit, PMS, to N212.61, Civil Society Organisations, CSOs, at the weekend, kicked against every move to actualize that.

The federal government yesterday strongly pushed back on insinuations that it had increased the pump price of petrol from N162 to N212.61 per litre.

The party in a statement by its National Publicity Secretary, Mr Kola Ologbondiyan, in Abuja said any contemplation to increase pump price of petrol to N212 would worsen the economic and social situations of Nigerians.

Some residents of Nsukka town in Nsukka Local Government Area of Enugu State have expressed concern and surprise as Premium Motor Spirit (PMS) is sold for between N220 and N225 per litre in filling stations.

The Minister of States for Petroleum, Timipre Sylva, has disowned the increase in the price of petrol as announced earlier by the Petroleum Products Pricing Agency, PPPRA. Mr Sylva said neither he nor President Muhammadu...

The Nigerian National Petroleum Corporation (NNPC) says it has not increased the Ex-depot price of Premium Motor Spirit (PMS) also known as petrol.

The Petroleum Products Pricing Regulatory Agency, PPPRA, has declared that its publication of monthly template, does not amount to increasing the price of petroleum products, as such increase is supposed to be determined by market forces, under the current deregulation.

The Petroleum Pricing Regulatory Agency (PPPRA) has pulled down the template for petrol pricing in the month of March from its website after the uproar and confusion caused by the development.

This is coming as a reaction to the Petroleum Products Pricing Regulatory Agency, PPPRA fixing the pump price of Premium Motor Spirit, PMS, also known as petrol, at N212.61 per litre, for the month of March on Thursday.

The pump price of petrol may hit N212.61 per litre any time from now, if the authorities approve the latest price guide set by the Petroleum Products Pricing Regulatory Agency (PPPRA).

The Senate Committee on Public Account on Wednesday uncovered a differential of N120 billion in the payment of subsidy to the Independent Petroleum Marketers Association of Nigeria by the Petroleum Products Pricing Regulators in 2016.

Mr Abdulrasheed Bawa, the newly-appointed Chairman of the Economic and Financial Crimes Commission (EFCC), on Wednesday appeared before an Ikeja High Court to testify as a prosecution witness in a N1.4 billion oil subsidy fraud case.

The office of the Auditor-General for the Federation (AuGF) has expressed concerns over irregularities and weaknesses in financial regulations across ministries, departments and agencies (MDAs) of government, especially in the disbursement and utilisation of public funds.

The president of Independent Petroleum Marketers Association of Nigeria (IPMAN), Engr. Sanusi Abdul Fari, has congratulated the new commander-general of the Nigeria Security and Civil Defence Corps (NSCDC), Ahmed Audi.

Petroleum marketers are beginning to adjust the pump price of petrol to N170 per litre from between N161 and N165, according to a report.

The Minister of State for Petroleum Resources, Mr. Timipre Sylva, has asked Nigerians to ready to endure the pain of another hike in the price of premium motor spirit, popularly called petrol, even as the country is also set to benefit from the rise in price of crude oil in the international market.

President Muhammadu Buhari has expressed deep condolences and sympathy over the demise of Hajiya Mairo Sa’idu Daura, wife of the Emir’s late older brother and a respected lady who worked for the welfare of the community.

The House of Representatives has stated its resolve to investigate alleged financial mismanagement in the Nigerian National Petroleum Corporation (NNPC) and 17 other subsidiary agencies.

The federal government indicated yesterday that it was considering an increase in petrol freight, that is, the rate of transporting commodities, goods and cargo by land, sea or air, from N7.51 per litre of the product.