Tag: Petrol Price

Petrol price may hit N190 as oil nears $60 – Marketers

Aminu Imam

Oil marketers have said that with the current realities in the global crude oil markets, the price of Premium Motor Spirit, (petrol) in Nigeria could hit between N185 and N200 per litre, unless the government wants to subsidise the product. Top officials of two major marketers’ associations, who spoke with newsmen at the weekend, said the continued increase in oil prices had indirectly brought back petrol subsidy. According to the marketers, the pump price of petrol should be between N185 and N200 per litre. The product is currently sold at between…

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Petrol price may hit N190 as oil nears $60 – Marketers

Aminu Imam

Oil marketers have said that with the current realities in the global crude oil markets, the price of Premium Motor Spirit, (petrol) in Nigeria could hit between N185 and N200 per litre, unless the government wants to subsidise the product. Top officials of two major marketers’ associations, who spoke with newsmen at the weekend, said the continued increase in oil prices had indirectly brought back petrol subsidy. According to the marketers, the pump price of petrol should be between N185 and N200 per litre. The product is currently sold at…

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FG set to raise freight rate of petrol to N9.11 per litre

Aminu Imam

The Federal Government says it will soon implement a decision to increase freight rate of Premium Motor Spirit, (PMS), also known as petrol ,from N7.51 per litre to N9.11 per litre. The Executive Secretary of Petroleum Equalisation Fund (PEF), Ahmed Bobboi, stated this in a virtual goodwill message at the 21st Annual General Meeting of National Association of Road Transport Owners (NARTO) in Abuja in Suleja on Thursday. Bobboi said the agency was  waiting for Labour’s feedback on the agreement reached on the planned increase in prices of PMS and electricity…

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Pre-covid oil demand won’t return before 2022, NNPC warns

Aminu Imam

Despite the optimism in some quarters about crude oil demand for Nigeria, the Group Managing Director, (GMD), of the Nigerian  National Petroleum Corporation, (NNPC), Mele Kyari, has said he does not see oil demand recovering to pre-Covid19 levels before the end of 2022. Mele Kyari made this known on Wednesday, while speaking at a virtual event, the Gulf Intelligence “Global UAE Energy Forum 2021“. The NNPC however expressed cautious optimism about oil demand growth, adding that it had begun the process to diversify its portfolio beyond oil assets to hedge future…

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Fuel, electricity tariff hike: Don’t join nationwide strike, FG warns civil servants

Ishaku Yohanna

The Federal Government has warned civil servants on Grade Level 12 and above and those on essential services not to join the industrial action declared by labour unions in the country. The warning is coming on the heels of the deadlock in the meeting between the federal government and organised labour, Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), which was adjourned till Monday after both sides failed to agree on terms for the resolution of the dispute over the increase in petrol price and electricity tariffs in the…

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NLC, TUC adamant as FG obtains fresh order to stop planned strike over petrol, electricity price increase

Ishaku Yohanna

Time for deregulation is now – FG insists NO WAY, Enough is enough! says NLC Aviation, Judiciary, NULGE set for shut down Monday As Civil Society groups vow to occupy Eagle Square October 1 Despite another fresh order by the National Industrial Court (NIC) on organised labour comprising the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) not to embark on its indefinite strike scheduled for Monday, September 28, both unions have enjoined all workers to embark on the indefinite strike pending when the Nigerian Government reverted to…

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FG, labour meet Thursday over electricity, fuel hike

Ishaku Yohanna

The federal government says it will, on Thursday, meet the representatives of Nigerian Labour Congress (NLC) and its affiliates with a view to discussing recent threat by the unions over increment on electricity tariff and price of Premium Motor Spirit (PMS). The meeting, according to the Deputy Director, Press, and Public Relations, Federal Ministry of Labour and Employment, Charles Akpan, in a Whatsapp message sent to our correspondent, will be held at the Banquet hall, Presidential Villa, Abuja at 3pm. “The Honourable Minister of Labour and Employment, Dr Chris Ngige,…

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Kano: Security agents stop protest against hike in petrol price, electricity tariffs, VAT

Ishaku Yohanna

Security agents comprising police, the State Security Service, and the Nigeria Security and Civil Defence Corps have stopped a protest against the increase in the prices of fuel, electricity and value-added tax in the country. The protest led by a civil society organisation, Joint Action Forum, (JAF), started as a rally in front of the secretariat of the Nigerian Union of Journalists, (NUJ), along Farm Centre Road in Kano on Tuesday morning amidst heavy security presence. The leader of the group, Musa Bashir, called on the federal government to reverse…

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NLC announces nationwide protest over petrol, electricity price increase

Ishaku Yohanna

The Nigeria Labour Congress (NLC) has insisted on going ahead with its earlier planned strike and protest, with effect from September 28, 2020, following the failure of the Federal Government to reverse the increases in electricity tariff and fuel price. Speaking in Abuja at a press briefing, NLC President, Ayuba Wabba said the protest action was inevitable since the federal government has refused to reverse the increase in electricity and fuel prices. According to Wabba, the “privatization of the electricity sub-sector, seven years down the line, has not yielded any…

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Endure pains of hike in cost of petrol, electricity – APC urges Nigerians

Ishaku Yohanna

The All Progressives Congress (APC), has urged Nigerians to endure the pains they are likely to experienced following the rise in petroleum pump price and the hike in electrical energy tariff. A statement signed by its National Publicity Secretary, Yekini Nabena and made available to newsmen on Tuesday, pleaded with Nigerians to endure the pains as it claimed that they would enjoy the “gains” of deregulation in the long run. The APC further claimed that rehabilitation of the nation’s four refineries was in the pipeline and noted that full deregulation…

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