November 25, 2024: Latest Developments On Petrol Prices And Fuel Shortages

November 25, 2024: Latest Developments On Petrol Prices And Fuel ShortagesAs Nigerians continue to express dissatisfaction over the recent increase in fuel prices by the Nigerian National Petroleum Company (NNPC) Limited, Naija News brings you the latest updates on petrol scarcity, fuel price hikes, and the reactions from both the government and citizens.....KINDLY READ THE FULL STORY HERE▶

Dangote Refinery Cuts Petrol Price for Marketers

In a move that offers some relief amid the fuel price surge, Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦970 per litre for oil marketers. This marks a ₦20 decrease from the refinery’s earlier ex-depot price of ₦990 per litre, which had been introduced earlier this month.

Anthony Chiejina, the Chief Branding and Communications Officer of Dangote Refinery, issued a statement on Sunday explaining that the price adjustment was a gesture of appreciation to Nigerians for their support in bringing the refinery’s vision to life. He further expressed gratitude to the government, noting that the price reduction aligns with efforts to promote domestic enterprise and contribute to the collective well-being of the nation.

The refinery reassured stakeholders that it remains committed to maintaining high standards in its petroleum products, underscoring its focus on environmental sustainability.

Nigerian Navy Busts Petrol Smuggling Syndicate in Akwa Ibom

In a related development, the Nigerian Navy has made a significant breakthrough in curbing petrol smuggling. A syndicate involved in the illicit movement of petroleum products and other contraband goods from Akwa Ibom State to Cameroon and other nations in the Gulf of Guinea has been arrested.

Captain Uche Aneke, the Commanding Officer of the Navy’s Forward Operating Base (FOB) in Ibaka, Mbo Local Government Area, confirmed the arrest. The suspects were found in possession of 2,000 litres of petrol and 1,000 cartons of beer, intended for smuggling to the neighboring Republic of Cameroon.

The operation took place on Wednesday evening during a routine patrol along the Mbo River, with the Navy’s stop-and-search operation uncovering the illegal shipment. The confiscated goods, valued at millions of naira, were handed over to the Nigeria Security and Civil Defense Corps (NSCDC) in Akwa Ibom for further investigation.

As fuel scarcity and rising prices continue to plague the country, the Nigerian government and various agencies are stepping up efforts to curb smuggling and stabilize supply chains.

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