Tag: Fuel Price

NLC says ‘no’ to further fuel increase

Aminu Imam

…Insists governors’ proposal provocative, insensitive The Nigeria Labour Congress, (NLC), has rejected the Nigerian Governors’ Forum’s proposal of between N380 and N408 per litre of petrol in the country. According to a communiqué issued at the end of its National Executive Committee (NEC) meeting on Tuesday in Abuja and signed by the President, Ayuba Wabba and its Acting General Secretary, Isma’il Bello, the NLC described the governors’ recommendation as provocative, arbitrary, and insensitive to the current economic realities in the country. The communiqué was made available to newsmen yesterday. The…

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‘No plan to increase petrol price in May’, NNPC assures

Aminu Imam

…Says fuel queues will disappear soon There is no plan to increase the pump price of Premium Motor Spirit (PMS), popularly known as petrol, for the month of May, according to the Nigerian National Petroleum Corporation (NNPC). The Group Managing Director, Malam Mele Kyari, disclosed this at the end of a closed-door meeting with Petroleum Transport Drivers (PTD), National Association of Road Transporters Owners (NARTO), and oil marketers on Monday in Abuja, the nation’s capital. The meeting, convened by the NNPC boss, was held amid the industrial action by the…

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‘No fuel price increment until conclusion of FG, Labour talks’ – Sylva

Aminu Imam

Ø  Urges Nigerians not to panic Chief Timipre Sylva, Minister of State for Petroleum Resources, says there will be no increment in the pump price of Premium Motor Spirit (PMS) until conclusion of consultation with Organised Labour. Sylva gave the assurance while addressing newsmen yesterday, in Lagos. The minister said the clarification was necessitated by reports that the price of PMS, commonly known as petrol, had been increased to N212.61 per litre. According to him, for the past few months, the government has been in consultation with organised labour to…

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FG refutes increase in petrol pump price, apologises

Aminu Imam

Urges Nigerians not to panic The Minister of State for Petroleum Resources, Timipre Sylva, has dismissed claim of increase in fuel price to N212. The Minister, who made the assertion during the ground-breaking ceremony for a composite cylinder manufacturing plant in Alaro City, FZE, Epe, on Friday, also apologised to Nigerians over any inconveniences they might be experiencing. According to him, the Federal Government does not have any plan to increase petro price now. Sylva’s statement came on the heel of Petroleum Products Pricing Regulatory Agency (PPPRA) increasing PMS to…

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FG reveals plans to reduce fuel price below N100 per litre

Aminu Imam

The Federal Government yesterday revealed plans to reduce the price of petroleum below N100 per litre across the country. The Senior Special Assistant to the President on Niger Delta Affairs, Ita Enang, said the price will be reduced when Nigeria refines the products locally. Enang, while speaking at a press conference in Abuja, said the presidency in collaboration with the Federal Ministry of Finance, Budget and National Planning, has concluded plans to hold a national conference on integrating artisanal/modular petroleum refinery operations aimed at improving the capacity of the products…

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‘No increase in fuel price in March’ – NNPC

Aminu Imam

Ø  As oil marketers say petrol will sell for N230 per litre  Contrary to speculations of imminent increase in the price of Premium Motor Spirit (petrol) in the country, the Nigerian National Petroleum Corporation (NNPC) has ruled out any increment in the ex-depot price of Petroleum Motor Spirit, also known as petrol, this March. According to a press release issued by the NNPC’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, stated that the Corporation was not contemplating any raise in the price of petrol in March in…

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Petrol price may hit N180 as oil nears $50

Aminu Imam

Ø  As FG, Labour leaders agree on price reduction to N162.44/litre The pump price of Premium Motor Spirit, popularly known as petrol, may hit N180 per litre this month, according to marketers, as oil prices extended their rally on Monday, with Brent crude trading near $50 per barrel.  Brent, the international oil benchmark, has risen by more than 15 per cent since November 13 when the pump price of petrol was adjusted in the country. It stood at $49.39 per barrel on Monday. The Minister of State for Petroleum Resources, Timipre…

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Labour, FG lock horns over electricity tariff, fuel price hike

Ishaku Yohanna

… Subsidy must go, FG insists Organised Labour under the auspices of the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) has again disagreed with the Federal Government over the recent increase in the prices of petroleum products and electricity tariff, stressing that both policies are a burden on Nigerian workers. President of the NLC, Ayubba Wabba, made this known to the Government during dialogue with government representatives on the state of the economy, even as he condemned the fixing of prices of electricity and petrol without consultations…

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PDP, NLC, CSOs reject fuel price increase, electricity tariff hike

Ishaku Yohanna

Nigeria’s main opposition party, the Peoples Democratic Party (PDP), the Nigeria Labour Congress (NLC) and Civil Society Organisatios (CSOs) have kicked against the increase in the price of fuel to N151 per liter and electricity tariff to N66 per kwh. PDP said the move is “callous, cruel, and punishing” while demanding an immediate reversal of the prices to avert a national crisis, as the increase will result in an upsurge in costs of goods and services and worsen the biting hardship being faced by Nigerians, who are “already impoverished and…

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