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Lagos, Ebonyi and Niger Paid More To Get Petrol In March
The National Bureau of Statistics (NBS) has reported that residents of Lagos, Ebonyi, and Niger states paid the highest amount for Premium Motor Spirit, popularly known as petrol in March 2021. The NBS said this in its “Premium Motor Spirit (Petrol) Price Watch for March 2021’’. According to the report, Lagos residents paid N200.87, Ebonyi…
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Petrol Imports Gulped N2.11tn In 2020
The amount spent on the importation of Premium Motor Spirit (petrol) rose to N2.11tn in 2020– a 17.54 percent increase against the previous year. According to the data obtained from the National Bureau of Statistics, the country spent N1.71tn on petrol imports in 2019, down from N2.95tn in 2018. The data also showed that petrol…
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Port Harcourt Refinery Gets $1.5billion For Rehabilitation
The Nigerian government has approved the sum of $1.5 billion for the rehabilitation of Port Harcourt Refinery – a project set to last for over 7 years. Port Harcourt Refinery is known to be the largest refining company in the country. At the end of the Federal Executive Council, the Minister of State for Petroleum…
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Petrol: Subsidy And Pump Prices in Nigeria
The oil and gas industry has been a significant source of service to the Nigerian economy since 1956. Agriculture was the major source of Nigeria’s revenue through the exportation of cash crops such as rubber, hide and skin, groundnut, oil and palm kernels, cocoa, and coffee before the discovery of petroleum in Oloibiri, in the…