The Federal Government has announced plans to make the foreign exchange available to petroleum product marketers, in order to make the importation of petrol into the country competitive, reduce the rising cost of the product, and stop the overdependence on the Nigerian National Petroleum Corporation (NNPC) for its importation. According to a report from Punch, this disclosure was made by the National President of Independent Petroleum Marketers Association of Nigeria…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) announced that drivers should desist from panic buying as fuel marketers have enough fuel in Nigeria. This was disclosed by Alhaji Suleiman Yakubu, IPMAN National Public Relations Officer, who blamed the long queues spotted in some parts of the nation’s capital on panic buying from motorists.

A fresh increase in the retail pump price of Premium Motor Spirit (PMS), otherwise known as petrol appears to be looming as the Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has increased the ex-depot price of the product, to N155.17 per litre from N147.67 per litre. This new adjustment is contained in an internal memo from PPMC with reference number PPMC/C/MK/003, dated November…