Business
NNPC Petrol Price Remains Unchanged at N940 Per Litre – IPMAN Clarfies
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has stated that the Nigerian National Petroleum Company (NNPC) has not reduced the price of premium motor spirit (PMS).
IPMAN’s spokesperson, Chinedu Ukadike, clarified that the ex-depot price of NNPC petrol remains N940 per litre, despite reports claiming a price drop to N860 in Lagos and Abuja.
When asked about the alleged price reduction, NNPC’s spokesperson neither confirmed nor denied the claims. A check on NNPC’s official X account also showed no announcement regarding a price change.
Ukadike emphasized that any adjustment in NNPC’s petrol price would typically be reflected on its portal for marketers, but as of now, there has been no such update.
“The ex-depot price of PMS is still N940 on NNPC’s portal. We have no information about any price reduction,” he said.
Popular Nigerian Billionaire, Femi Otedola, reveals how some banks treated him once his business failed in 2009.
The businessman revealed in his soon to be released book “Making It Big” and shared details of when he went bankrupt. He shares that it had to do with the sudden increase in dollars and explained how jt affected him greatly.
He then adds concerning banks “One moment, I was the darling of the banks, who did everything in the world to court me, do business with me, give me loans, take deposits from me.”
“They would send bewitching ladies to make their offers more convincing, and now I was waking up to the sight of hefty, barrel-chested men standing menacingly in front of my gate, waiting for the moment I’d step out of my compound.”
It has been reported that Coca-Cola Company has agreed to sell off Chivita and Hollandia to UAC of Nigeria.
This information was revealed after UAC of Nigeria released a statement regarding their deal with Coca-Cola. The Managing Director stated that they aim to keep Chi’s legacy and described the deal as an ‘acquisition that presents significant potential to build on Chi’s legacy of excellence and innovation.’
“We see a bright future for Chivita and Hollandia. With the strength of our team, coupled with the dedication of UAC, there will be exciting opportunities for further growth.”
The Independent Petroleum Marketers Association of Nigeria (IPMAN) says it will announce a new, lower petrol price on Monday, following the recent price slash by Dangote Refinery. Dangote Refinery had dropped its ex-depot price for petrol from N840 to N820 per litre on Thursday, prompting IPMAN to consider adjusting its rates in response.
Speaking on the development, IPMAN President, Abubakar Maigandi, said the association is aligning with the move and will meet to finalize a fresh price cut for petrol. “Our members will also reduce their prices,” Maigandi said. “We’ll make an official announcement on the new fuel price after our meeting on Monday.”
As of Friday, filling stations across Abuja were selling petrol at varying prices, between N905 and N945 per litre. While NNPC, NIPCO, AA Rano, and Shema outlets were dispensing around N910, Dangote-linked stations like AP and Ardova offered it slightly lower at N905. Others, including Ranoil, Empire Energy, and Total Emadeb, were selling at the higher end, up to N945.
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