Market

NNPC hikes petrol pump price after dumping middleman role

The Nigerian National Petroleum Company Limited (NNPCL), has hiked the pump price of the Premium Motor Spirit, PMS, also known as petrol to N1,030 per litre.

At the press time, all NNPC filing stations have adjusted their meter to reflect the development, days after the recently privatized State oil company dumped the middleman role between Dangote Refinery and the market.

In an official statement, NNPCL decided to terminate its exclusive purchase agreement with Dangote Refinery amidst unsettled pricing issues.

The move effectively stopped NNPC to be the off-taker, and marketers can now negotiate prices directly with Dangote Refinery.

In the Federal Capital Territory, FCT, the product was previously sold for N897 per liter.

 

Source: dmarketforces.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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