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Oil marketers, on Tuesday, countered the position of the Federal Government, as they insisted that the current pump price of Premium Motor Sp

Mr Wabote outlined several opportunities that would accrue from divestments, such as the injection of new capital, the rejuvenation of divested assets, and an increase in crude oil production through the investment in technologies by the acquiring firms.

  Motorists and residents in Abuja, Nigeria’s capital city, have started to experience the return of long queues at petrol stations.   This was seen in a video posted by ICIR on Wednesday evening, capturing long queues of cars and other road users at different filling stations in the Federal Capital Territory (FCT).   “Fuel queues return to Abuja. The scarcity of Premium Motor Spirit, popularly called petrol, has again returned to the FCT, causing queues at the few filling stations still dispensing the product,” ICIR captioned the video.

If there is one thing that stifles growth in the downstream sector of the petroleum industry, it is the existence of subsidies, and that is the reality. There are today close to 25 licences to create, build and operate refineries, (but) nobody will take the next step.

President of PENGASSAN, Comrade Festus Osifo said when President Bola Tinubu announced the removal of fuel subsidy, many Nigerians didn't know the