Following a meeting with the Federal Government, the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have suspended the planned strike over the removal of the petrol subsidy. The labour unions announced the suspension after a meeting of their leaders and representatives of the federal government on Monday. They are to reconvene on June […]
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The meeting on subsidy removal between the Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and the federal government of Nigeria has ended without an agreement. The meeting called by the federal government, was intended to reach an agreement with organised labour after President Bola Tinubu’s announcement that petrol subsidy would cease to be in […]
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Shehu Sani, senator representing Kaduna central, says the Subsidy Reinvestment and Empowerment Programme (SURE-P) and the National Social Investment Programmes (NSIP) are largesse dispensed for political goals. The SURE-P was created in 2012 during the administration of ex-President Goodluck Jonathan while the NSIP was created by the administration of President Muhammadu Buhari to reduce unemployment. Sani alleged […]
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The Nigerian senate on Tuesday, set up an ad hoc committee to probe a $3.5 billion “subsidy recovery fund” said to be managed by Maikanti Baru, group managing director (GMD) of the Nigeria National Petroleum Corporation (NNPC), and the corporation’s finance director. The decision of the senate was sequel to a motion on matters of […]
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The Minister of State for Petroleum Resources, Ibe Kachikwu has disclosed that the Federal Government of Nigeria now spends N1.4 trillion on subsidising Premium Motor Spirit, popularly called petrol. Mr. Kachikwu disclosed this while speaking at a Liquefied Petroleum Gas workshop organised by the Federal Ministry of Petroleum Resources in Abuja on Thursday. The Nigerian […]
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The Nigerian National Petroleum Corporation (NNPC) has said that it loses N774 million daily on under-recovery due to the increase in petrol consumption in the country. The corporation has refused to use the term subsidy in reference to how much it spends in keeping the official price of petrol at N145 at filling stations, although […]
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The Nigerian National Petroleum Corporation (NNPC) has stated that it is only the national assembly can appropriate for the payment of subsidy in the importation of petrol. Ndu Ughamadu, NNPC spokesman, said the statement attributed to Umar Ajiya, Petroleum Products Marketing Company (PPMC) managing director, was misconstrued. Ajiya, who was a guest on Sunrise Daily, a […]
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The Major Oil Marketers Association of Nigeria, MOMAN, has appealed to the federal government to pay the outstanding fuel subsidy claims to its members to pay back their bank loans. The Executive Secretary of the association, Obafemi Olawore, made the plea in an interview with the News Agency of Nigeria on Wednesday in Lagos. NAN […]
Continue ReadingThe petroleum sector in Nigeria has witnessed yet another major change, this time, it is an increase in the price of Kerosene as from N50 to N83 per litre, as announced by the Petroleum Products Pricing Regulatory Agency, PPPRA. The new products pricing template was released on Sunday in Abuja. The agency stated that the […]
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