The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the Federal Government to establish a specialised oil and gas bank to assist independent fuel marketers struggling under the effects of fuel subsidy removal. IPMAN National Publicity Secretary, Mr Chinedu Ukadike, made the appeal during an interview with the News Agency of Nigeria (NAN) in…
Residents, transport operators and business owners in Lagos say rising fuel prices are increasing transportation fares, business costs and pressure on household incomes. A survey by correspondents of the News Agency of Nigeria (NAN) showed that petrol prices rose from about N1,250 per litre to above N1,300 in many filling stations, with some outlets dispensing…
Commercial mini-bus drivers in Osogbo on Wednesday protested the hike in the pump price of petrol. The drivers parked their vehicles around the Olaiya Flyover, preventing other mini-bus drivers from conveying passengers in protest against the increase. The News Agency of Nigeria (NAN) reports that the situation resulted in a gridlock in the area. Speaking…
An energy expert, Prof. Wumi Iledare, says recent increases in petrol pump prices in Nigeria are largely driven by market expectations and fluctuations in global crude oil prices. Iledare, a Professor Emeritus of Petroleum Economics and Policy Research at Louisiana State University’s Centre for Energy Studies, said fuel prices in the short term often respond…
The Federal Government has no immediate plans to implement the five per cent fuel surcharge contained in the newly signed Tax Administration Act 2025. Mr Wale Edun, the Minister of Finance and Coordinating Minister of the economy, said this at a news conference in Abuja on Tuesday He said that the surcharge was a long-standing…
Nigeria’s petroleum supply chain was thrown into turmoil on Monday as tanker drivers under NUPENG began a nationwide strike against the Dangote Refinery, accusing Africa’s largest industrial complex of anti-union practices. The drivers claim Dangote’s management is attempting to monopolise the refining and distribution of petroleum products while sidelining existing unions. At issue is a…
The Federal Road Safety Corps (FRSC), Benue Sector Command, has said that 411 Nigerians lost their lives while scooping fuel from fallen tankers in 2024. The Sector Commander, Mr Steve Ayodele, made the disclosure in Makurdi on Tuesday at a town hall meeting with trailer and tanker drivers on crash prevention. Ayodele said that the…
An estimated 6,114,728 vehicles, including goods carriers, private cars and two-wheelers, would be denied fuel at petrol and diesel stations across Delhi amid a stringent anti-air pollution drive. This drive implemented in the Indian capital with effect from Tuesday (July 1), said an official from the local transport department. Delhi was among the worst-polluted capital…
Nigerians are facing mounting frustration over soaring petrol prices, with officials citing market deregulation as the driving factor behind the latest hikes. Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), said in a statement on Tuesday that the current price surge reflects global oil trends and the operational realities of a…
A planned nationwide rollout of Premium Motor Spirit (PMS) distribution by Dangote Petroleum Refinery has been met with praise from fuel marketers and citizens alike, as anticipation grows over the potential to address Nigeria’s long-standing fuel distribution crisis. The Independent Petroleum Marketers Association of Nigeria (IPMAN) in Rivers State commended the initiative, describing it as…
