FG spent N8.94trn as petrol subsidy in 10 years, says PPPRA

Nigeria imports 1.68 billion litres of petrol in January – NNPC

The Federal Government spent N8.94 trillion on petrol subsidy between 2006 and 2015, figures released by the Petroleum Products Pricing Regulatory Agency (PPPRA) on Monday has indicated. The Latest statistics showed that during the 10-year period, the government consistently spent billions of naira subsidising Premium Motor Spirit (PMS), popularly called petrol. It said that in 2006, 2007, 2008, 2009 and 2010, the government spent N257.36 billion, N271.51 billion, N630.57 billion, N469.31 billion and N667.08 billion respectively. The government also paid N2.104 trillion, N1.354 trillion, N1.315 trillion, N1.217 trillion and N653.51…

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Petrol imports tumble 72.65% as pandemic takes toll

Petrol imports tumble 72.65% pandemic takes toll

BusinessMetricsNG with wired report   As the Nigerian economy continues to gasp for breath following devastating blow from the incursion of Coronavirus pandemic, the volume of petrol imported into the country in May plunged by 72.65 per cent. This and many more facts are contained in the latest data obtained from the Nigerian National Petroleum Corporation (NNPC). From a high of 2.25 billion litres in March this year, the volume of petrol imported into the country through the Direct Sale Direct Purchase scheme fell to 1.81 billion litres in April…

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5.26bn litres of PMS imported into Nigeria in Q1

Nigeria imports 1.68 billion litres of petrol in January – NNPC

A total of 5.26 billion litres of premium motor spirit (PMS) also know petrol were imported for consumption in the first three months of 2020. The National Bureau of Statistics (NBS) revealed this in its latest report titled ‘Petroleum Products Imports and Consumption (Truck Out) Statistics Q1 2020”. The petroleum products importation statistics reflected that apart from the PMS, the country also recorded importation of 1.66 billion litres of Automotive Gas Oil (AGO), 258.27 million litres of Aviation Turbine Kerosene (ATK), 28.33 million litres of Low Pour Fuel Oil (LPFO) and 135.14 million litres of…

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FG denies giving marketers power to fix petrol price

Nigeria imports 1.68 billion litres of petrol in January – NNPC

Contrary to information making round, the Federal Government has denied that it gave freedom to oil marketers in the country to fix the price of premium motor spirit (PMS), also known as petrol. A statement in Abuja on Sunday by the Petroleum Products Pricing Regulatory Agency (PPPRA) said the government had not conferred on marketers the power to fix petrol price, stressing that the new market-based pricing regime was still in force. Abdulkadir Saidu , the Executive Secretary, PPPRA, said the attention of the agency was drawn to several media…

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