Petrol stations rush to adjust pump price to N143.8 without claims of old stocks
Contrary to their usual delays and claims of old stocks when there was downward review of prices, petrol stations across Lagos State, Wednesday afternoon rushed to adjust upwards their respective petrol pump price within seconds of the announcement by the…
2 sides of crude oil ‘coin’ in Nigeria: Saving N450bn and losing over $200bn
The recent pandemic powered by global spread of coronavirus (n-COVID 19), has amongst other things affected the economies of several countries including those leaving on export and even imports. However, worst hit are economies whose income is predominantly crude oil…
‘Freight rate: FG to save $30.87 per MT of petroleum products from Dangote Refinery’
Considering the Lagos location of upcoming Dangote Refinery, Business Hilights Intelligent Unit (BHIU), an independent business research arm of Business Hilights Media Group, publishers of Business Hilights Online and Markets Business Hilights Newspapers, has revealed that the from the onset…
FERMA: Senate links unremitted N800bn to road maintenance inefficiency
Facts have emerged from ongoing Nigerian Senate investigations that the inability of the Federal Roads Maintenance Agency (FERMA) to fix uncountable failed portions of Federal Highways is clearly linked to paucity of fund which by law, should be provided by…
PPPRA hides open market price of petrol since crude oil crossed $66
Contrary to its hitherto momentary publication of open market price of petrol data, the Petroleum Products Pricing Regulatory Agency (PPPRA) seems to have started hiding the statistics since when it posted it last on its website on March 20, 2018,…
Subsidy hobbling investors’ in refining as daily fuel usage jumps to 56m litres
Happenstances in the nation’s downstream petroleum sector seem to be disproving every known economic and investment principles. This was the submission of leading industry analyst, Dr Bala Zaka in an interview. He said with the huge market for refined products…
Price of crude, landing cost differentials push ‘under-recovery’ to N3bn daily
Indication has emerged that the federal government may be currently weeping in silence over the rising cost of what Nigerians know as subsidy payments for fuel imports even though it chooses to call it under-recovery. The development is coming from…
Did FG deceive Nigerians on N500bn SWS palliative for N145 fuel hike?
More than one year after, Nigerians seem to have forgotten the child-calming pill used to buy their healthy conscience in agreeing with the federal government to hike fuel price from N86.50 to N145 in May 2016. The pill was a…
