IPMAN Confirms Purchase of PMS at N108 Per Litre Ex-Depot Price

BusinessOil & GasIPMAN Confirms Purchase of PMS at N108 Per Litre Ex-Depot Price

PilotnewsMay 10, 2020

The President,  Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr Chinedu Okoronkwo says its members have started buying Premium Motor Spirit (PMS) also known as petrol at N108 ex-depot price as announced by NNPC. Okoronkwo made this known in an Interview with the News Agency of Nigeria (NAN) in Abuja, on Sunday. NAN recalls that the Nigerian National Petroleum Corporation (NNPC) had on May 6, announced a reduction in the ex-depot price of PMS from...

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Nigeria is Wasting Revenue Through Subsidy – PwC

EconomyNigeriaOil & GasNigeria is Wasting Revenue Through Subsidy – PwC

Adeola Oladipupo (Correspondent)May 8, 2020

The federal government needs to look at areas where we seem to be wasting revenue, the subsidy is the biggest one and about N4 trillion could be gained if removed, PwC Nigeria said. Crude oil, Nigeria’s major source of revenue has been hit by the Covid-19 pandemic which forced oil prices down for several weeks – until a few days ago when Brent began rising — making the country consider reviewing the 2020 budget oil...

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Nigerians Await New Petrol Pump Price as Depot Price Reduces by N5

BusinessNigeriaOil & GasNigerians Await New Petrol Pump Price as Depot Price Reduces by N5

Adeola Oladipupo (Correspondent)May 7, 2020

The Nigerian National Petroleum Commission (NNPC) Tuesday, announced a reduction in the depot price of petrol from N113.28 per litre to N108 per litre. The reduction comes barely 3 weeks after it reduced the deport price of petrol from N133.28 per itre to 113.28 per litre which resulted in the slash in the retail price of petrol from N145 to N125 per litre. At the time, the Petroleum Products Pricing Regulatory Agency (PPPRA) said according...

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