The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has openly demanded an open-door supply policy of fuel at competitive prices. Ikem Ohia, DAPPMAN spokesperson, speaking on Channels Television’s Morning Brief, said the Association had no quarrel with Africa’s richest man. However, he insisted that fuel queues and scarcity would persist if distribution remained […]
Global financial institutions are making significant investment decisions towards fossil fuels financing, signifying a great shift from the previous stance. The banks raised their combined financing for fossil fuels by more than one-fifth last year, bucking a falling trend since 2021 amid a backlash against net-zero policies, especially in the United States. The world’s top […]
.Solicits support for October protests over hardship BY IDIBIA GABRIEL The Yoruba Union (Igbinmọ Majekobaje Ilẹ-Yorub) has called for President Bola Tinubu’s resignation in response to soaring fuel prices and the worsening hunger affecting the southwest region and Nigeria as a whole. The union voiced grave concerns about the economic policies of his administration, which […]
A Civil Society Organization, Empowerment for Unemployed Youth Initiative (EUYI), has begun organizing a peaceful protest, rallying youths, unemployed individuals, and others facing daily economic hardship, against the recent increase in fuel prices by the Nigerian National Petroleum Company Limited (NNPCL). Speaking to journalists in Abuja, EUYI’s National Coordinator, Comrade Danesi Prince, and National Secretary, […]
Fuel queues have resurfaced in Lagos as many filling stations ran out of stock, leading to closures and long lines at the few stations still dispensing fuel. Checks by the News Agency of Nigeria (NAN) on Sunday in Lagos revealed that most filling stations along Ikorodu Road were not selling. However, the Nigerian National Petroleum […]
The Christian Youth Forum of Nigeria (CYFN) has called for the immediate removal of Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPC Limited), over his handling of the persistent fuel queues across the country. In a statement by its National President, Rev. Phrank Ochiga, the group described Kyari’s leadership […]
Nearly a year after the Nigerian government phased out fuel subsidy, citizens have continued to face persistent fuel shortages and long lines at petrol stations nationwide. This ongoing crisis highlights the complexities and challenges in the country’s fuel supply chain, despite earlier government promises of improved market competition and efficiency. Naija News understands that President […]
By Tunde Opalana Nigeria faces potential fuel scarcity in the months ahead as Russia has announced a six-month ban on petrol exports starting March 1. Nigeria is one of the major importers of petrol from Russia. The ban, aimed at meeting domestic fuel demands, may pose significant challenges to countries like Nigeria and others that […]
By Chukwuemeka Iwelunmo Air passengers and airline operators are in for difficult times as the price of Jet A1, popularly referred to as aviation fuel, has been hiked by oil marketers in the aviation sector, findings by The Daily Times have shown. In an investigation conducted by our Correspondent, it was revealed that with effect […]
BY PETER FOWOYO Even though it supports the removal of fuel subsidy by the Federal Government of Nigeria (FGN), led by President Bola Ahmed Tinubu, the Youth Party (YP), on Sunday, said it is opposed to its implementation without any form of social safety net to cushion the impact and protect the poor. In a […]
By Ukpono Ukpong The National Economic Council yesterday suspended plans to remove the fuel subsidy. Minister of Finance, Zainab Ahmed disclosed this yesterday while briefing State House Correspondents after the National Economic Council (NEC), meeting at the Presidential Villa, Abuja. Ahmed explained that although the removal of fuel subsidy imminent, the council decided that the […]
The Federal Government has suspended plans to remove fuel subsidy by June this year. Minister of Finance, Budget and National Planning, Ahmed Zaniab gave the indication on Thursday, shortly after the National Economic Council, NEC, meeting, chaired by the Vice President, Yemi Osinbajo. She said the NEC, which comprises State Governors deliberated on the issue […]
BY BENJAMIN OMOIKE As Nigeria and Nigerians continue to reel in economic hardship, the Cadre Harmonise (CH) Report has indicated that the protracted fuel scarcity, worsening insecurity, 2022 flood disaster and other factors will push 24.8 million Nigerians into a deep poverty crisis between June and August 2023. Also FSS partners had adopted CH, a […]
By Godwin Anyebe Oil marketers have said fuel queues at filling stations across the country may persist if consumers and motorists’ continue to buy the product at selected filling station dispensing the product below N200/litre. The National Operations Controller, Independent Petroleum Marketers Association of Nigeria (IPMAN) Mike Osatuyi, said recently that the lingering queues at […]
By BENJAMIN OMOIKE Policymakers and marketers in Nigeria and other parts of the world have been advised to play an active role in ensuring that people have access to affordable fuel while executing their country’s energy transition plan. The global management consulting firm, Boston Consulting Group (BCG), in its new report entitled “An Inflection Point […]
The Federal Government has officially confirmed the return of fuel subsidy, as the Petroleum Products Pricing Regulatory Agency, PPPRA, yesterday, fixed the pump price of Premium Motor Spirit, PMS, also known as petrol, at N212.61 per litre, for the month of March. The new price, according to the PPPRA’s PMS guiding price, released to stakeholders, […]
By Usman Abdullahi Koli (fuel) Deliberately, I prefer to refer to President Muhammadu Buhari as “Minister Buhari” because I believe fully that most Nigerians have forgotten that the president also doubles as the minister of petroleum. It is obvious that the country we live in and call a mother has no sympathy for us. This […]
The spokesperson for President Muhammadu Buhari, Garba Shehu, told Nigerians that under the People’s Democratic Party (PDP) administration petrol was sold for ₦600 / litre. Shehu tweeted this alongside the front page of a newspaper from Easter Sunday in 2013, in response to PDP claiming citizens may not survive the increment in electricity tariffs and price of […]
By Philip Clement & Patrick Okohue While the President Muhammadu Buhari-led administration is not the first to fiddle controversially with the pump price of petrol, what many analysts may find surprising is that the government’s action is receiving the loudest silence. Key stakeholders that spearheaded the ‘Occupy Nigeria’ protest in 2012 have been remarkably quiet. […]
The Nigeria Union of Petroleum and Natural Gas workers, NUPENG, weekend, decried allegation by the Presidency that the National Assembly cut N11.5 billion from allocations to critical infrastructure like roads in the 2018 national budget. NUPENG in a statement in Abuja, insisted that cutting allocations meant for crucial and very critical infrastructural projects with huge […]