President Bola Tinubu has assured Borno State Governor Babagana Zulum of the federal government’s commitment to providing substantial assistance to the victims of the recent flooding in Maiduguri, the state capital. The flooding, which has displaced numerous residents and caused significant damage to homes and public infrastructure, including schools, hospitals, and businesses left many in urgent need of relief. In a statement by his Special Adviser on Information and Strategy,…

In a significant policy shift, reports suggest the Federal Government is poised to grant Aliko Dangote’s refinery the authority to set the price of Premium Motor Spirit (PMS), commonly known as petrol. This move comes amidst a protracted fuel scarcity crisis that has left Nigerians grappling with high prices and limited availability. On Tuesday, the Nigerian National Petroleum Company Limited (NNPCL) raised the pump price of PMS, adding to the…

Abuja, Nigeria — Nigeria’s Minister of Petroleum Resources, Heineken Lokpobiri, has reassured the populace that Premium Motor Spirit (PMS), or petrol, should be widely accessible by the weekend. This announcement follows a high-level meeting at the State House aimed at addressing the current fuel scarcity that has been causing significant hardship for Nigerians. The crucial meeting, which took place on Thursday, included Vice President Kashim Shettima, Mele Kyari, the Managing…

Long queues have resurfaced at fuel stations across Nigeria following the Nigerian National Petroleum Corporation’s (NNPC) recent fuel price hike. The New Daily Prime reports that the NNPC raised its pump price from ₦617 to ₦897 per liter on Tuesday, due to the corporation’s massive $6.8 billion debt to international suppliers. While some NNPC stations implemented the new prices immediately, independent filling stations were selling fuel between ₦930 and ₦950…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has accused the Nigerian National Petroleum Corporation Limited (NNPCL) of withholding petroleum products worth N75.142 billion, paid for by its members since June. This refusal, according to IPMAN, has significantly worsened the ongoing fuel shortages, particularly in the South West region. Nigeria, one of the world’s largest petroleum producers, is paradoxically facing a severe fuel crisis. The scarcity has led to skyrocketing…

President Bola Tinubu has given the green light for the Nigerian National Petroleum Company Limited (NNPCL) to utilize its 2023 dividends, initially intended for the federation, to address the increasing costs of the nation’s petrol subsidy. The Cable report. This decision comes as the NNPCL faces soaring subsidy costs, projected to reach N6.884 trillion by the end of 2024. To ease the financial strain on the state-owned oil giant, Tinubu…