TheNewsGuru

Tag: Fuel

  • Strike: SEE full details of MoU reached between organised labour and FG

    Strike: SEE full details of MoU reached between organised labour and FG

    After the withdrawal of subsidy on Premium Motor Spirit (PMS) by the Federal Government and the resultant increase in the price of the commodity, the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) issued a strike notice which had elapsed and they were poised to embark on a strike billed to commence on Tuesday, the 3rd of October, 2023.

    To this end, a meeting was called by the Federal Government to avert the strike and after much discussion, the following agreements were reached:

    The Federal Government grants a wage award of N35,000 (thirty-five thousand Naira) only to all Federal Government workers beginning from the month of September pending when a new national minimum wage is expected to have been signed into law.

    2. A minimum wage committee shall be inaugurated within one month from the date of this agreement.

    3. Federal Government suspends collection of Value Added Tax (VAT) on Diesel for six months beginning from October, 2023.

    4. Federal Government accepts to vote N100 billion for the provision of high capacity CNG buses for mass transit in Nigeria. Provisions are also being made for initial 55,000 CNG conversion kits to kick start an auto gas conversion programme, whilst work is ongoing on state-of-the-art CNG stations nationwide. The rollout aims to commence by November with pilots across 10 campuses nationwide.

    5. The Federal Government plans to implement various tax incentive measures for private sector and the general public.

    6. On the leadership crises rocking the NURTW and the purported proscription of RTEAN, the Federal Government commits to handling Labour matters in line with relevant ILO Conventions and Nigerian Labour Acts. A resolution of the ongoing impasse is expected by or before October 13.

    7. The issue of outstanding Salaries and Wages of Tertiary Education workers in Federal-owned educational institutions is being referred to Ministry of Labour and Employment for further engagement.

    8. The Federal Government commits to pay N25,000 per month for three months starting from October, 2023 to 15 million households, including vulnerable pensioners.

    9. The Federal Government will increase its initiatives on subsidized distribution of fertilizers to farmers across the country.

    10. The Federal Government should urge State Government through the National Economic Council and Governors Forum to implement wage award for their workers. Similar consideration should also be given to local government and private sector workers.

    11. The Federal Government commits to the provision of funds as announced by the President on the 1st of August broadcast to the Nation for Micro and Small Scale Enterprises. The MSMEs beneficiaries should commit to the principle of decent jobs.

    12. A joint visitation will be made to the refineries to ascertain their rehabilitation status.

    13. All parties commit to henceforth abide by the dictates of Social dialogue in all our future engagements.

    14. The NLC and TUC accept to suspend for 30 days the planned Indefinite Nationwide strike scheduled to begin, Tuesday, the 3rd of October, 2023.

    15. This Memorandum shall be filed with the relevant Court of competent jurisdiction within one (1) week as consent judgement by the Federal Government.

    Signed:

    NLC:

    Comrade Joe Ajaero Comrade Emmanuel Ugboaja, mni
    President NLC General Secretary

    TUC:

    Comrade (Engr) Festus Osifo Comrade Nuhu A. Toro
    President Secretary General

    Federal Government:

    H.E. Simon Bako Lalong
    Honourable Minister of Labour and Employment

    Mallam Mohammed Idris
    Honourable Minister of Information and National Orientation.

  • After subsidy removal, fuel consumption drops from 64.9m to N52m daily -NMPDRA

    After subsidy removal, fuel consumption drops from 64.9m to N52m daily -NMPDRA

    After subsidy removal, Nigeria’s average daily consumption of Premium Motor Spirit (PMS) popularly called ‘petrol’ has dropped to 52 million litres in July as against the national consumption figure of 64,964,000 that was recorded on the 30th June 2023.

    TheNewsGuru.com, (TNG) reports this is based on data obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

    According to the Authority, the land-based stock and closing stock less dead stock of petrol was one billion one hundred and twenty million four hundred and eighty-seven thousand eight hundred and forty-eight litres (1,120,487,848) as of the end of July 2023.

    The downstream monitoring agency added that marine stock which included berth and offshore availability was five hundred and twenty-one million thirty-five thousand six hundred and forty-five litres (521,035,645).

    According to the data, the total stock less dead stock was one billion six hundred and forty-one million five hundred and twenty-three four hundred and ninety-three (1,641,523,493) litres however depot dead stock was eighty-three million six hundred and thirty-seven thousand seven hundred and eighty-one (83,637,781) litres.

    Total stock inclusive of dead stock was one billion seven hundred and twenty-five million one hundred and sixty-one thousand two hundred and seventy-four (1,725,161,274) litres.
    The land-based days sufficiency was 21.55 days while marine days sufficiency was put at 10.02 days and total days sufficiency cumulatively stood at 31.57 days.

    The total stockless dead stock was put at one billion six hundred and forty-one million five hundred and twenty-three thousand four hundred and ninety-three (1,641,523,493) litres.

    Depot dead stock was eight three million six hundred and thirty-seven thousand seven hundred and eighty-one (83,637,781) litres and total stock inclusive of dead stock stood at one billion seven hundred and twenty-five million one hundred and sixty-one thousand two hundred and seventy-four (1,725,161,274) litres.

    Conversely, on July 1st, land-based stock of PMS was one billion fifty-nine million three hundred and thirty thousand three hundred and twenty-one (1,059,330,321) litres while marine stock at berth and offshore stood at eight hundred and twenty-six million, four hundred and forty-seven thousand seven hundred and forty (826,447,740) litres.

    Total stock less dead stock was one billion, eight hundred and eight-five million, seven hundred and seventy-eight thousand sixty-one (1,885,778,061) litres while depot dead stock was eighty-three million ninety-five and forty-two (83,095,042) litres.

    Total stock inclusive of dead stock stood at one billion, nine hundred and sixty-eight million, eight hundred and seventy-three million, one hundred and three (1,968,873,103) litres.

    Land-based sufficiency was 16.31 days, marine days sufficiency was 12.72 days and total days sufficiency was 29.03 days.

    As of July 1st, the national PMS stock levels, the Nigerian National Petroleum Corporation Limited (NNPCL) had two hundred and ninety-three million three hundred and eighty thousand and seven hundred and thirty-five (293,380,735) litres in stock.

    Members of the Major Oil Marketers Association of Nigeria (MOMAN) had ninety-one million two hundred and two six hundred and forty-three (91,202,643) litres while Depot and Petroleum Products Marketers Association of Nigeria had seven hundred and fifty-three eight hundred and twenty-five one hundred and eighty-three (753,825,183) litres.

    On how many days sufficiency, the NMDPRA data said Nigeria had land-based days sufficiency of 21.55 days as of the end of July while marine days sufficiency was 10.02 days which brings the total days sufficiency to 31.57 days.

    Also, by the July 31st, out of the one billion two hundred and three million forty-six thousand and ninety-one litres national inland PMS stock, the Nigerian National Petroleum Corporation Limited (NNPCL) had three hundred and seventy-seven million sixty-eight thousand seven hundred and seventy two litres in its stock.

    Major Oil Marketers Association of Nigeria (MOMAN) had sixty million nine hundred and seventy-three hundred and sixty-five litres while the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) had seven hundred and sixty-five sixteen thousand nine hundred and fifty-four litres.

  • Tinubu divides Min of Petroleum Resources into two

    Tinubu divides Min of Petroleum Resources into two

    President Bola Tinubu has split Ministry of Petroleum Resources into two separate bodies.

    Recall Tinubu assigned portfolios to 45 ministers confirmed penultimate Monday by the Senate.

    The list of portfolios announced by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, showed the split of some ministries and the creation of new ones.

    Some ministries also get more tasks with added appellations.

    For instance, the president split the Ministry of Petroleum Resources with the appointment of Ekperipe Ekpo as Minister of State, Gas Resources.

    Heineken Lokpobiri is equally appointed Minister of State, Petroleum Resources.

    It is not clear if President Tinubu will retain the position of senior Minister of Petroleum.

    His predecessor, Muhammadu Buhari, oversaw the affairs of the ministry during his eight-year tenure.

    Also divided are the ministries of Finance, Budget and National Planning as well as Works and Housing with Wale Edun as Minister of Finance and Coordinating Minister of the Economy, and Atiku Bagudu, Minister of Budget and Economic Planning.

    David Umahi and Ahmed M. Dangiwa are now substantive ministers in the ministries of Works as well as Housing & Urban Development respectively. Abdullahi T. Gwarzo is the Minister of State, Housing & Urban Development.

    The erstwhile Ministry of Youth and Sports Development has also been split into two and placed under the supervision of John Enoh as Minister of Sports Development and Abubakar Momoh, Minister of Youth.

    Former governor of Rivers State and leader of G5 Peoples Democratic Party (PDP) governors, Nyesom Wike, who worked for the victory of Tinubu, was appointed Minister of Federal Capital Territory (FCT).

    Surprisingly, Dele Alake, a former Commissioner for Information and Strategy in Lagos State under the then Governor Tinubu, touted to man the Ministry of Information, was eventually assigned to supervise the Ministry of Solid Minerals Development.

  • BREAKING! NNPCL denies plan to increase fuel pump price

    BREAKING! NNPCL denies plan to increase fuel pump price

    The Retail arm of the Nigeria National Petroleum Company Limited, NNPC, has debunked media reports of a fresh plan to increase the price of Premium Motor Spirit popularly called fuel.

    It said this in reaction to claims making the round that there are fresh plans to raise the price of petrol from the current N617 per litre to between N720 and N750 per liter.

    But reacting on Monday in Abuja, the NNPC in a message to it’s customers urged them to disregard the speculations being made in some quarters.

    Read message below:

    Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated. Please buy the best quality products at the most affordable prices at our NNPC Retail Stations nationwide.”

  • Harsh economic policy: FREE full tank for early worshippers at RCCG Ikeja parish today

    Harsh economic policy: FREE full tank for early worshippers at RCCG Ikeja parish today

    As the harsh economic policy of the President Bola Tinubu administration gradually eradicates the Nigerian middle class, the Bridge parish of the Redeemed Christian Church of God (RCCG) at the Lagos Airport Hotel, Ikeja, has announced that it would fill the fuel tanks of members who arrive at church by 8am on Sunday, July 30th.

    TheNewsGuru.com, (TNG) reports the parish is headed by Pastor Leke, the son of the RCCG General Overseer, Pastor Enoch Adeboye.

    In the announcement floated by Leke on Saturday, vehicles whose tanks will be filled with petrol must come to the service “filled with people.”

    The cars must also remain in church until the end of church service by 11:30am.

    The gesture is designed at assisting members attend church services following the hike in fuel price occasioned by the Federal Government’s recent petrol subsidy removal.

    In his inaugural address on May 29, Tinubu had said “fuel subsidy is gone”, and subsequently promised to provide palliatives to cushion the effect on Nigerians.

    “I can assure you that I understand your pains and the pains of your uncles, brothers, your mums. I understand, I feel it. It is not easy to get out a monster of over 40 years that is called subsidy,” Tinubu said afterwards without drawing back on his decision.

    Amid the development, the governors have supported the president’s decision.

    Lately, the governor of Bayelsa State, Douye Diri rolled out over 100 cars in the state to assist residents in their movements.

    Some state governors had reduced number of days to show up at work and provided N10,000.00 to help cushion effect of the policy that is gradually turning Nigerians into corporate beggars.

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  • Till now we buy the cheapest fuel in the world – Eniola Badmus

    Till now we buy the cheapest fuel in the world – Eniola Badmus

    Popular Nollywood actress, Eniola Badmus has claimed Nigerians currently purchase the cheapest fuel in the world.

    She slammed those criticising President Bola Ahmed Tinubu for removing fuel subsidy.

    In a recent chat with popular media personality, Daddy Freeze, the actress insisted that Nigeria is still the country with the cheapest fuel price in the world.

    Following the removal of fuel subsidy, the pump price of fuel skyrocketed to N617 per litre.

    She said, “A lot of these keypad warriors do not even have an idea of what subsidy is. It was when they removed it that they knew what the government was doing. Even till now, I think we still buy the cheapest fuel in the world.”

    The 40-year-old thespian maintained that her support for President Tinubu remains unshakable, stressing that she has “never seen a philanthropist as our current president.”

  • Fuel attendant docked for alleged stealing of N3.4m

    Fuel attendant docked for alleged stealing of N3.4m

    A 39-year-old petrol attendant, Waliu Olamilekan, was on Monday docked at Badagry Magistrates’ Court in Lagos for alleged stealing of N3,464,000 at BFO filing station in Badagry.

    The defendant of unknown address is standing trial on a three-count charge of unlawful entry, malicious damage and stealing, for which he pleaded not guilty.

    The prosecutor, Insp. Ayodele Adeosun told the court that the defendant committed the offences on July 9, at about 11.30.a.m. at Pipeline, Araromi-Ale, Badagry Expressway, Lagos.

    Adeosun said the defendant allegedly broke into the office of the manager of the station, Mrs Titilope Falola, the complainant and made away with the money.

    “He damaged the burglary window valued N45,000, bulk room and drawer of the Manager’s office.

    “The defendant also stole the sum of N3, 464,000 million, property of BFO Filing Station.

    “The Police was able to recover the stolen money from where he hid it.

    “The offences contravene Sections 307, 339 and 287 of the Criminal Law of Lagos State, 2015,’’ he said.

    The Magistrate, Mr T.A Popoola, granted the defendant bail in the sum of N1,000,000 with two sureties in like sum.

    Popoola said one of the sureties should produce evidence of statement of account that worth N1m and three years tax address verification.

    She adjourned the case until Aug. 21, for mention.

  • Oil marketer identifies permanent solution to hike in fuel prices

    Oil marketer identifies permanent solution to hike in fuel prices

    Following the incessant increase in the pump price of fuel in the country, the Chief Executive Officer of Emadeb Energy Service Limited, Debo Olujimi, says that local refining of the product remains the only lasting solution to the price surge.

    The pump price of fuel has been increased twice in the last two months and this has led to the frustrations of many Nigerians.

    Olujimi disclosed this at the inaugural ceremony of its Ijegun Satellite Depot on Wednesday in Lagos.

    Olujimi stated that the increase in the price of petrol will continue to harm Nigerians unless local refining of the product is encouraged.

    He lamented the continued dependence on the US dollar for the importation of fuel products into the country.

    “It is a known fact that the increase in the price of petrol has put significant pressure on Nigerians, which we all understand.

    “The only way to address the ongoing challenges is for the government to encourage local refining,” he said.

  • NNPC explains increase in PMS price to N617 per litre

    NNPC explains increase in PMS price to N617 per litre

    The Nigerian National Petroleum Company L.td. has attributed the increase in the price of Premium Motor Spirit (PMS) also known as petrol to the market realities.

    The company’s Group Chief Executive Officer, Malam Mele Kyari, stated this in an interview with newsmen shortly after a private meeting with the Vice President, Kashim Shettima, at the Presidential Villa, on Tuesday in Abuja.

    Kyari explained that the increase in the price of pms has nothing to do with supply issue, adding that there are robust supply of the product in the country.

    ”I don’t have the details this moment. You know we have the Marketing Wing of the company, they adjust prices depending on the market realities.

    ”And this is the meaning of making sure that the market regulate itself so that prices will go up and sometimes they will come down also and this is really what we are seeing in reality this is how the market works.

    ”There is no supply issue completely when you go to the market you buy the product you come to the market and sale it at prevailing market price there is nothing to do with supply we don’t have supply issues.”

    ”There are robust supply, we have over 32 days supply in the country, that’s not a problem. What I know is that the market forces will regulate the market, prices will go down sometimes and sometime it will go up but there will be stability of supply.

    He assured Nigerians that the policy was the best way for the country going forward.

    ”And I am also assuring Nigerians that this is the best way to go forward so that we can adjust prices when market comes.

    ”I know that a number of companies have imported petroleum pms so many of them are online. Market forces have started to play, people have confidence in the market and private sector people are now importing product.

    ”And there is no way they can recover their cost if they cannot take market reflective cost,” Kyari said.

    On his part, Alhaji, Farouk Ahmed, Chief Executive Officer, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), said the authority doesn’t set price of the product but it was market determine itself.

    ”As a regulator you know I told you back in May we are not going to be setting price the market will determine itself and as you saw back in early June when prices came out it was based on the cost of importation plus other logistics of distribution and of course the profit margin by the importer.

    ”This market is deregulated, is open to all participants. As a mentioned also yesterday (Monday) when I was in Lagos we have about 56 marketing companies that have applied for and obtained license to import.

    ”Out of those 10 of them have indicated to supply within the third quarter which is July, August and September. And out of those already we received some cargoes from some of these Marketers.

    Prudent Energy, AYM Shafa and Emadeb Cargo is arriving tomorrow (Wednesday), So this is like just an encouragement to see that the market is liberated and everyone is free to import so long you are working within the framework especially in tems of quality.”

    He insisted that the authority as a regulator would not put cap on the price because it was not part of those importing the product.

    ”But the pricing as a regulator we are not going to put the cap on the price because we are not part of those importing, we are not a marketing company, we are just a regulator.

    ”So when you say market forces are working basically what it means is that you can see the price of the Crude Oil going up, couple of week ago recovering around 70 dollars per barrel now is around 80 dollars per barrel

    ”So of course the crude price also drive the product price you know because the imposters are importing they are basen it on the course of importation plus other cost element in terms of local distribution.”

  • Police foil attempt to steal fuel from NNPC Pipeline in Lagos

    Police foil attempt to steal fuel from NNPC Pipeline in Lagos

    The police command in Lagos State says its operatives have foiled an attempt by hoodlums to steal oil at the Nigerian National Petroleum Corporation (NNPC) Pipeline.

    The command’s spokesperson, SP Benjamin Hundeyin, made this known on his verified Twitter handle on Saturday.

    He said that the incident happened at 2:00 a.m. at the Idimu area of the state.

    Hundeyin said that the hoodlums unlawfully gained access into the site and were siphoning oil from the pipeline into their tanker.

    The image-maker said that the police, who got information about the theft, stormed the scene and the thieves abandoned their tools and fled.

    “The oil thieves absconded, abandoning their truck and tools, upon sighting police officers who responded swiftly when notified,” he said.

    Hundeyin said the Commissioner of Police in the state, Mr Idowu Owohunwa had also visited the scene of theft.