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Tag: Premium Motor Spirit

  • 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.

  • Fuel Scarcity: Petrol hit N500/litre in Ondo state

    Fuel Scarcity: Petrol hit N500/litre in Ondo state

    Findings show that some petrol filling stations in Ondo state have started selling Premium Motor Spirit, (PMS) at N500/litre as a result of the scarcity of the products.

    Similarly. Motorists in the state who couldn’t get the product also bough black market at N1000/litre in the Shasha -NEPA axis of the state capital.

    Long queues were also visible at few filling stations across the state, while motorcyclists and persons with jerrycans also besieged in their numbers

    At a filling station around Shasha market, where vehicle owners had queued as early as 5 am, motorists could be heard expressing anger over the situation.

    “This is just not acceptable anymore. At N500 and we are still struggling like this? We don’t know who will save us again because Nigerians are just fed up,” a driver vented his frustration.

    Meanwhile, vehicular traffic on the roads in the city was scanty due to the scarcity of fuel.

  • Oil marketers increase pump price to N170-N190/litre

    Oil marketers increase pump price to N170-N190/litre

    The price per litre of Premium Motor Spirit (PMS) also known as petrol  has been adjusted from N165 to a range between 175-190 per litre   in filling stations across the country, after oil marketers and the Federal Government had a subtle agreement.

    It was gathered that the latest  development was the outcome of a meeting between the Nigerian Midstream and Downstream Petroleum Regulatory Authority and oil marketers on Thursday.

    It was agreed at the meeting that the commodity should be increased by N10 per litre.

    Checks on few petrol stations across the country show that the pump price has been adjusted  to price range of between N175 -N190 per litre.

    Meanwhile, when contacted, oil marketers denied holding a meeting with the NMDPRA on the subject matter but sources close to the matter confirmed that the meeting actually held.

    The officials said the NMDPRA agreed that  marketers could increase their pump price from N165-N175/litre for filling stations inside towns, and a maximum of N190/litre for those on the outskirts.

    “The meeting was held and everybody was told to keep mum. A band of N165-N175/litre was approved for the filling stations inside towns, while N189 was approved for those outside towns,” our source said.

    However, marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria confirmed the fuel pump price hike.

    “The meeting was held and everybody was told to keep mum. A band of N165-N175/litre was approved for the filling stations inside towns, while N189 was approved for those outside towns,” our source said.

    The National Operations Controller, IPMAN, Mike Osatuyi, explained the reasons behind the fuel pump price hike.

    Osatuyi, who also denied that a meeting held between oil marketers and the Federal Government on Thursday, however, disclosed that there was a fresh increase, describing it as a “market fundamentally determined price.”

    “Petrol now sells between N175-N180 per litre depending on the area, ‘’ he said.

    “Petrol is now available and as you can see, the queues in Lagos and Abuja have disappeared. We are businessmen and it’s impossible for us to run at a loss. Marketers are allowed to sell at a minimum price of N170 and a maximum of N180. There’s something we call market fundamentals; this is what came into play here. This is because it is impossible to bring the product into your station at N170 and sell at N165,” he added.

    When asked if there was a circular from the NMDPRA to the effect, he responded “no”, adding, “there was no meeting but what you saw was simply an increase due to market forces.”

    Explaining further, he said the Pipelines and Product Marketing Company’s price template, which has the current official price of N165/litre, was arrived at about 12 ago.

    “The template is 12 years old when the dollar was still N175 and diesel was sold at N200/litre. Now, diesel is around N850. Even major oil marketers have changed their price boards to reflect the new band. It’s no more hidden. It is better for fuel to be available at N180 or N185 than buying at N250 from black marketeers. Now, no more boys going around with jerry cans, you can drive in and buy with ease”, he said.

  • Pump price still 165 naira per litre, no scarcity of commodity-FG

    The Federal Government of Nigeria has explain the cause for the continuous rise in price of diesel but insists that pump price of Premium Motor Spirit (PMS) has not changed. saying that it’s still 165 per litre.

    Recall that the Independent Petroleum Marketers Association of Nigeria (IPMAN) had on Monday advised its members to adjust pump price to a minimum of N180 per litre.

    However, FG has now warned Nigerians against panic buying of the commodity, adding that there are about 2 billion litres in the reserve and depots.

    On Tuesday, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the Nigerian National Petroleum Company, and the Pipelines and Product Marketing Company visited jetties in Apapa, Lagos.

    They explained that the move was necessitated by the increment in the ex-depot price of PMS by some private depots.

    But Ugbugo Ukoha, Executive Director, Distribution Systems, Storage and Retail Infrastructure (NMDPRA) told them to comply with the regular pricing template.

    Ukoha said the conflict between Russia and Ukraine had led to an increment in the cost of Automotive Gas Oil (diesel).

    He disclosed that after the challenge in the movement of other products, President Muhammadu Buhari approved that the freight rate for trucks be increased.

    “There’s a N10 addition, which we will apply to the different routes to enable trucks to move to docks easily with less burden. We appeal to operators within this industry to play by the rules.

    “PMS is a regulated product and the prices are fixed, the ex-depot price is known. The pump price remains N165 and the authority is ever ready to enforce those rules”, NAN quoted him saying.

    The official added that stakeholders would, in the coming days, close the supply gaps and resolve the ongoing scarcity of petrol.

  • ADAMAWA: Man sets sleeping wife ablaze

    ADAMAWA: Man sets sleeping wife ablaze

    An estranged wife has been set ablaze while she was asleep, in Adamawa State, by a middle-aged man identified as Kuryanga.

    The incident occurred last week Thursday in Guyuk town, in the Guyuk Local Government Area of the State.

     

    Armed with Premium Motor Spirit (petrol) and a matches box, Kuryanga reportedly attacked and set ablaze his estranged wife, Janet John, while asleep on an ill-fated night.

     

    Noyina, an aunt to Janet who recounted the frightening incident, told our reporter in Hausa: “It was terrifying to wake up to a column of burning fire like a typical horror movie scene. More torturing was to hear my niece crying for help while she burns in the flames.”

     

    John and Kuryanga ended their seven-year marriage three years ago, with a court order prohibiting him from seeing her due to his violent disposition, Noyina revealed.

     

    She said, “Despite Kuryanga getting married to another lady, coupled with the court verdict, he still refused to let go of her while jealously threatening her life and those of her suitors.

     

    “When he eventually struck, he also joined sympathizers at my niece’s bedside in the hospital the following day. He almost got away with it. Fortunately, his pregnant wife later confirmed an abandoned crime scene petrol container as their family belonging.

     

    “He tiptoed to her sleeping spot within our compound in the dead of the night, poured petrol, struck the matches and fled, leaving her in flames. He got her because of the scourging hot weather; we all sleep in the open.”

     

    Noyina said Kuryanga was arrested after the revelation by his wife, adding that he had confessed to the crime and pleaded to be forgiven.

     

    The police in the State could not immediately confirm the incident. When contacted, the police spokesperson for Adamawa State Command, DSP Suleiman Nguroje, said he was yet to be briefed.

  • Man dies in Ijebu Ode-Ibadan Expressway explosion

    Man dies in Ijebu Ode-Ibadan Expressway explosion

    Ayet-to-be-identified male adult has died in an explosion that occurred on Wednesday night, on the Ijebu Ode-Ibadan Expressway.

     

    The incident occurred when two tankers caught fire on Wednesday night.

     

    The Public Relations Officer of the Ogun State Traffic Compliance and Enforcement Corps, Mr. Babatunde Akinbiyi, in a statement on Thursday, said the accident occurred in front of the NASFAT center along the route.

     

    Akinbiyi said an eyewitness revealed that the driver of the first tanker, loaded with Premium Motor Spirit, aka petrol, was speeding when he lost control of the vehicle.

     

    The tanker was said to have fallen into a ditch and caught fire.

     

    He explained that another tanker driver saw the first tanker on fire and decided to help out, adding that in the process his tanker was also engulfed by fire.

     

    The spokesman said: “The incident happened at midnight. One person (male) died in the tanker fire. Our men, relying on an eyewitness, could not categorically say anything about the identity of the person who died in the inferno. However, the victim was trapped by the fallen tanker.”