Tag Archives: fuel price

FG To Review Fuel Price Template– Kachikwu

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To eliminate NPA’s transport charges, others I’m not aware of price hike by NNPC stations — Kachikwu Senate demands daily oil, gas production records.

The Federal Government, weekend, said it would undertake a review of the pricing template for Premium Motor Spirit, PMS, also known as petrol, to forestall a further increase in the price of the commodity. Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, stated this during a grand award ceremony organised by the Petroleum Products Pricing Regulatory Agency, PPPRA, branch of Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN in Abuja. Meanwhile the Senate Committee on Petroleum (Upstream), has asked the Department of Petroleum Resources, DPR, to henceforth, prepare and forward to it, the daily product records of oil and gas in the country.

The committee said the record of daily crude oil production must be submitted to the Senate every month. This will include petroleum industry activities, data on seismic activities, crude oil production, liftings, allocations, exports by destination, receipts, gas production, utilization, sales, transmission and exports.

Chairman of the committee, Senator Tayo Alasoadura, who led members of the committee to the headquarters of the Department of Petroleum Resources, DPR, in Lagos on oversight responsibility, said the development would afford the Red Chamber the opportunity to have deeper knowledge of activities of the oil and gas sector in the country.

Alaosoadura, who represents Ondo Central Senatorial District on the platform of the ruling All Progressives Congress, APC, frowned at perceived sidelining of the legislature in the provision of some information on activities by agencies of government, saying the trend must stop.

Speaking on the pending review of pricing template, Kachikwu said it would help cushion the effect of rising foreign exchange rates and the dwindling value of the naira against major international currencies on the price of petrol.

Read More:

http://www.vanguardngr.com/2016/11/fg-review-fuel-price-template-kachikwu/

 

NLC Warns Against Another Fuel Price Increase

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The Nigeria Labour Congress has warned the Federal Government against any further increase in the pump price of petroleum products, especially Premium Motor Spirit, otherwise called petrol.

The warning is coming as the retail stations of the Nigerian Petroleum Corporations in the Federal Capital Territory and its environs have increased the pump price of the PMS to N145 from the initial N141.

Similarly, some private marketers of petroleum products are now selling petrol in their outlets at N150 per litre.

It was reported that some filling stations in Lagos and Ogun states had refrained from selling the product.

For instance, the Oando filling stations at Alapere and Berger as well as the Mobil filling station opposite the Magodo Estate gate did not dispense the product to members of the public since Friday.

Similarly, the Ascon and NNPC stations between Arepo and Magboro, off the Lagos-Ibadan Expressway, Ogun State, did not sell the product on Sunday, raising fears of another round of fuel scarcity.

The General Secretary, NLC, Dr. Peter Ozo-Eson, said on the telephone on Sunday that it would be insensitive on the part of the government to increase fuel price in view of the current hardship in the land.

Read More:

http://punchng.com/nlc-warns-another-fuel-price-increase/

Fuel Price: Youths Urge Labour To Cancel Planned Strike

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A group of youths under the aegis of Buhari Youth Organisation, has called on the Nigerian Labour Congress to cancel its planned strike in protest against increase in price of petrol.

The call is contained in a statement signed by the group’s National President, Mr Ubale Nalado and made available to News Agency of Nigeria (NAN) in Abuja on Tuesday.

The statement said NLC should join other workers unions that have declared support for the increase in the price of petrol, as a sacrifice for the future of the nation’s economy.

It said that the group was confident that the Buhari administration possessed the sincerity of purpose to judiciously use the savings from the removal for subsidy to build critical national infrastructure.

According to the statement, Buhari’s antecedents as an elder statesman further laid credence to the fact that his personal interest would never supersede the national interest.

“It is very conspicuous that President Buhari who would never allow his personal interest to be above that of the Nigerian masses.

“Significant percentage of Nigerians agreed with the decision of the NNPC to deregulate the sector.

“They also believe and trust President Buhari’s administration on using the savings from the removed subsidy to build our infrastructure.

The group, therefore, called on the NLC to rethink their position by adopting the opinions and interest of the larger society who have agreed to support the position of government.
It reiterated its determination to intensify their collective effort towards sensitising and propagating the economic policies and ideology of the President for overall development of the country.

The statement added that the NLC should support the current administration in its avowed commitment to creating growth through massive diversification of the economy.

Credit: Guardian

Fuel Price Hike: NLC, TUC, To Go Ahead With Strike Despite Court Order

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Despite an order of the National Industrial Court restraining the Nigerian Labour Congress and the Trade Union Congress from going ahead with their planned strike to protest the hike in price of petrol, the strike will go ahead as planned on Wednesday, labour officials have said.

The General Secretary of the NLC, Peter Ozo-Eson, on Tuesday night told Premium Times that from all indications the strike would go on as planned.

On the meeting with the Secretary to the Government of the Federation, Babachir Lawal, earlier convened to attempt to broker a last minute truce on the matter, Mr. Ozo-Eson said the meeting was yet to hold at about 7 p.m. on Tuesday.

“There was no resolution yet. We are just going for the meeting now. ,” the NLC scribe said on telephone interview. “We have been meeting on our own on matters that are important to us. It is clear the strike will go ahead as planned,” Mr. Ozo-Eson said on telephone on his way to the venue of the meeting.

He however assured that an official statement would be issued on the final position after what promises to be an all-night meeting.

The General Executive Secretary of Medical and Health Workers Union, north central, Richard Gbamwuan, in an interview with this newspaper, shortly after an emergency NEC meeting of the NLC held in Abuja on Tuesday, said that they were going ahead with the proposed strike.

“We have resolved to go ahead with the protest nationwide, as far as we are concerned, we are yet to be aware of any court injunction,” he said.

“And if there is any court injunction, we are just doing what federal government is fond of doing. The same Industrial court had stopped federal government from increasing electric tariff but till date federal government ignored us, they still went ahead, so we are embarking on the protest.”

Credit: PremiumTimes

Fuel Price: No Alternative To Deregulation– FG

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The federal government has said that there is no alternative to the new policy of deregulation of the price of petrol and  appealed to the leadership of labour unions and all Nigerians for understanding, as the current hardship would not last long. Addressing journalists in Abuja, Monday, the Minister of Information ,

Addressing journalists in Abuja, Monday, the Minister of Information , Alh. Lai Mohammed, said that the paucity of foreign exchange has made it impossible for the Nigerian National Petroleum Corporation to continue to solely import petrol. His words, “Many have been asking why this would happen at this time and what triggered the decision concerning the new framework for petrol products supply, distribution and pricing.

“Gentlemen, we have no choice than to liberalize the price of petrol, if we are to end the crippling fuel scarcity that has enveloped the country, ensure the availability of the products and end the suffering of our people over the lingering scarcity.”

Credit: Vanguard

NLC Laments ‘Artificial’ Fuel Scarcity In Katsina

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Katsina State chapter of the Nigerian Labour Congress, NLC, has expressed concern over activities of petroleum marketers who create artificial scarcity of petrol in the state.

 

The state’s NLC said some of the petroleum marketers were in the habit of selling the product above the officially approved price. It therefore, called on the government to strengthen the state’s Petroleum Task Force Committee to deal with such unscrupulous petroleum marketers.

 

The state’s NLC chairman, Comrade Tanimu Saulawa, made the call over the weekend when he led other executive members of the organisation on a courtesy visit to the governor.

 

Saulawa said some greedy petroleum marketers have created artificial scarcity of the commodity, thereby creating untold hardship on the people.

He said as labour leaders, they had traveled far and wide and had observed a difference in price and availability of the commodity elsewhere.

“We call on the state government to strengthen the petroleum task force to be more reliable, effective and responsive so as to monitor, ensure and compel marketers to seek petrol at official price.”

Saulawa said it is necessary for the government to take action against the marketers so as to make life easier for people of the state.

He said as labour leaders, it was necessary to set up agenda for the government to address problem facing the state.

The chairman however called on the state government to always cross-check information filtering from political and critic sources before taking decisions.

He said this was necessary as there were politicians and bureaucrats that may have contributed in one way or the other to the problem of the past.

“We wish to advise you to observe and take note of such self-serving individuals and encourage your lieutenants to tell the truth and advice towards good industrial harmony that would lead to peaceful atmosphere for development.”

 

 

Responding, Governor Aminu Bello Masari expressed his administration’s readiness to work with labour leaders to achieve for a vibrant civil service. Masari however called on the NLC to complement his government’s efforts for excellent service delivery in public schools and health institutions.

 

 

Credit: Today

Fuel Price Review Likely In January

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An end to the current fuel crisis may not be certain but Minister of State for Petroleum Resources, Dr Ibe Kachikwu, yesterday gave an indication that a new pump price will come into effect next January 2016. He said this just as the Nigeria Labour Congress (NLC) decried the continuing nationwide fuel scarcity resulting in skyrocketing prices and long queues.

A litre of premium motor spirit (PMS) now sells for N300 in many parts of Rivers State, including Port Harcourt. In Anambra, it is about N150 for a litre.

The NLC, in a statement signed by the president, Ayuba Wabba, yesterday, described the situation as ‘disheartening.’

Speaking in Abuja yesterday during his unscheduled visit to some filling stations within the metropolis, Kachikwu explained that it was high time Nigeria took practical look at the pricing dynamics of the oil and gas downstream sector.

Credit: Guardian

History Of Fuel Price Increases In Nigeria Till Date

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• Gowon – from 6k to 8.45kobo

• Murtala – from 8.45k to 9k

• Obasanjo – from 9k to 15.3k

• Shagari – from 15.3k to 20k

• Buhari – from 20k to 20k (Price remains the same)

• Babangida – from 20k to 39.5k

• Babangida – from 39.5k to 42k

• Babangida – from 42k to 60k (Private Vehicles)

• Babangida – from 60k to 70k

• Shonekan – from 70k to N5 (Naira)

• Abacha – from N5 to N3.25k (Price drops)

• Abacha – from N3.25k to N15

• Abacha – from N15 to N11 (Price drops)

• Abubakar – from N11 to N25

• Abubakar – from N25 to N20 (Price drops)

• Obasanjo – from N20 to N30

• Obasanjo – from N30 to N22 (Price drops)

• Obasanjo – from N22 to N26

• Obasanjo – from N26 to N42

• Obasanjo – from N42 to N50

• Obasanjo – from N50 to N65

• Obasanjo – from N65 to N75

• Yar’Adua – from N75 to N65 (Price drops)

• Jonathan – (New year present) N141

• Jonathan – (After labor strike) N97

• Jonathan – (As Feb, 2015 Election approaches) N87

BUHARI and YAR’ADUA did not increase prices.

 

As seen on www.naijamember.com.ng   

 

 

10 Naira Off Fuel Price- FG

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The Federal Government has announced the reduction of Premium Motor Spirit, PMS, from N97 per litre to N87 per litre.

Diezani Alison-Madueke the Minister of Petroleum Resources, made this known at a press conference at the presidential villa, Abuja, that the new price regime would take effect immediately. Mrs. Alison-Madueke said the N10 reduction in fuel price was necessitated by the reduction in crude oil prices in the international market.