Tag: Petrol price hike

How N165/ Liter Price, Differential elsewhere Fueled Petrol Smuggling- NNPC

Efe Wellington

The Nigerian National Petroleum Corporation (NNPC) has explained that concerted efforts by the Corporation and some Federal agencies to combat the menace of smuggling of petroleum products have been largely hampered by existing arbitrage fueled by the prevailing huge price differentials in pump price of petrol in Nigeria and neighbouring countries. Platforms Africa reports that while the product sells for N165 per litre in Nigeria, it goes far higher that this in neigbouring countrues. In a presentation at an interactive session by the Joint Senate Committee on the 2022-2024 Medium…

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Nigeria embagoes petrol price hike, to pay N210bn Subsidy in June

Efe Wellington

The embargo, data compiled by Platforms  Africa shows, is the fifth announced by the government in 2021 + how oil minister read riot act to marketers on hoarding, profiteering The Nigerian Government on Friday announced another embargo on the price of Premium Motor Spirit (PMS) also known as petrol in June, a move that will make it continue payment of subsidy on the product for the month. Latest data from the Nigeria Governors’ Forum (NGF) put the monthly subsidy payment at N210 billion. The price hike embargo, data compiled by…

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TUC, NLC vow to Shut Down Nigeria’s economy Sept 28 over fuel, electricity tariff hike

Precious Ibekwe

  The Nigeria’s Trade Union Congress (TUC) has aligned with its counterpart, the Nigeria Labour Congress (NLC) to ground economic activities in the country into a total halt on September 28. The planned total shutdown of economy, the congress said, would go on in colaboration with NLC if the Nigerian Government refuses to reverse the recent hike in petrol price and electricity tariff. This was coming as the National Executive Council of the NLC, ratified the decision the decision of its Central Working Committee to stage a nationwide protest on…

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