Author: TheLagosianMagazine

Dangote Group says the Nigerian National Petroleum Company (NNPC) Limited has not commenced lifting of premium motor spirit (PMS), also known as petrol, from its refinery. In a statement on Thursday by Anthony Chiejina, chief branding and communications officer of Dangote Group, the company said it is yet to finalise its contract with the NNPC. “We would like to state that NNPC has not commenced lifting of refined Premium Motor Spirit (PMS), commonly known as petrol, from our Dangote petroleum refinery,” the company said. “Therefore, the issue of fixing the price of petrol lifted from our refinery does not arise,…

Following the increase in pump price on Tuesday, more residents and workers, including civil servants in Borno State, have embraced trekking, tricycles and bicycles for mobility. During the early hours of Wednesday in Maiduguri, the state capital, there were less vehicles and more pedestrians on major roads. Some residents of Nasarawa State lamented the hike after it forced many of them to resort to trekking as they could not afford the luxury of boarding tricycles and buses. The product, which used to be sold between N930 and N950/litre in most stations in Lafia and its environs, is now sold between…

NNPC has resumed supplying petrol to Independent marketers as three vessels berthed at the Apapa depot in Lagos on Wednesday to discharge petrol. Multiple sources told our correspondent that loading improved on Wednesday compared to Tuesday, when the marketers stayed away. “Loading is picking up slowly. It is far better than yesterday (Tuesday),” a source said. Another depot operator, who spoke on condition of anonymity because he was not authorised to speak on the matter, said supply was ramped up by the NNPC, the sole importer of petrol. “Supply is good today (Wednesday). Three PMS-laden vessels are in Apapa jetty…

Several filling stations seized the opportunity of fuel scarcity in the country to extort customers who were in dire need of the product for their vehicles, power generators and other machines. Some of the stations in Lagos and along the Lagos-Ibadan Expressway sold petrol around N900 and N1,200/litre as the queues worsened across Nigeria’s commercial capital city. Residents of Ogun border communities disclosed that they got PMS at N1,600/litre from black marketers, claiming petrol supply had been banned from the areas. Commuters were stranded as there were a few commercial buses on the road to convey passengers. The drivers conveyed…

Nigerian National Petroleum Corporation has reportedly suspended the sale of Premium Motor Spirit – popularly called petrol – to independent marketers after it hiked the product’s price on Tuesday. This is even as three vessels berthed at the Apapa, Lagos jetty on Wednesday to discharge imported petrol. The price hike sparked a protest in Delta State as commercial tricycle operators, also known as ‘keke’ riders, took to the streets of Warri and Effurun metropolis to resist the price hike. Checks by our correspondents revealed that commuters across the country were either stranded or trekked long distances on Wednesday as fuel…

By Jimmy Fatunbi Billionaire businessman Femi Otedola has congratulated his friend and brother Aliko Dangote on the actualisation of his $20bn refinery in Lagos. Otedola said with petrol now rolled out by the Dangote Refinery, the days of Nigeria bowing to foreign powers for our fuel needs are over. “You have not just built a refinery; you have liberated us from the chains of economic dependence that have held this nation back for far too long. The days of bowing to foreign powers for our fuel needs are over, thanks to your vision and determination,” Otedola wrote in a social…

By Jimmy Fatunbi Business magnate Aliko Dangote has announced that the Federal Executive Council (FEC) is finalizing a new pricing arrangement for petrol produced at the Dangote Refinery. The 650,000-barrel-per-day refinery, which officially launched its refined petrol production on Tuesday, is set to deliver its first batch of fuel to filling stations within the next 48 hours, depending on the country’s distribution network. Speaking about the retail price of the petrol, Dangote explained, “The pricing arrangement is being designed and approved by the Federal Executive Council, led by His Excellency, President Bola Ahmed Tinubu. Once the final details are settled…

By Jimmy Fatunbi The Federal Government has reacted to the allegation of a proposed increase in the price of premium motor spirit, also known as petrol. The government has dismissed reports that the Ministry of Petroleum has ordered the Nigerian National Petroleum Company Limited (NNPCL) to sell fuel at N1,000 per litre, above the approved pump price. In a statement signed by Nnemaka Okafor and made available to newsmen on Tuesday, the government described the reports as “outright falsehoods” and “baseless fabrications” aimed at sowing discord and confusion in the oil industry. The statement noted that the Federal Government has…

Two days after NNPC cried out that the burden of petrol price has pushed it into over $6 billion debt, the Nigerian National Petroleum Corporation, NNPC, Limited, on Tuesday morning, increased its pump price of fuel from N617 per litre to N897 per litre. This is an increase of over 45 percent. Checks at NNPC Retail stations in Abuja reflected the new fuel price. An unconfirmed trending message on social media platforms had earlier hinted at the new fuel price. The message read: “Good morning all. This is to inform you that NNPC Retail Management has approved an upward review…

A 300-level student of the College of Medicine, University of Lagos, simply identified as Williams has reportedly taken his own life just a day before the commencement of the school’s examinations. Speaking with Premium Times, the Provost of the College of Medicine, Professor David Oke, suggested that the student may have taken his own life due to the intense pressure of the upcoming exams. This suspicion arose after some of Williams’ colleagues reported that he had posted a cryptic message, such as “goodbye,” shortly before his death. Professor Oke emphasized that the exact cause of death remains uncertain at this…