Fuel

January 29, 2017

IPMAN threatens to stop distribution of fuel this week

Fuel marketers in the South-West under the umbrella of Independent Petroleum Marketers Association of Nigeria have threatened to stop dispensing oil over huge losses being incurred. IPMAN Chairman in the South-West, Mr. Debo Ahmed said many of the members have threatened not to lift oil once they exhaust their stock while others have already stopped.... Read More

deregulation, distribution, Fuel, IPMAN, price

January 17, 2017

We spent N2.7bn on fuel in 2016 fighting Boko Haram – NAF

The Nigerian Air Force on Monday said it spent N2,738,062.245bn on fuel fighting terrorist group, Boko Haram in 2016. Commanding Officer, Air Companies, Air Cmdr Charles Ohwo, stated this while briefing journalists on the activities of the Operation Lafiya Dole in Yola on Monday. Ohwo said the Air Force also spent 6,773 hours in the... Read More

Air Force, boko haram, Fuel, N2.7bn, sambisa forest, terrorism

December 1, 2016

‘This candid editorial on the President’s economic leadership should be placed before him’

Sadly, it’s no longer news that Nigeria is in a state of economic distress. The butterfly effect of the recession that was confirmed after several months of denial by the government cannot be stopped and a President that was clearly the popular choice at the polls in 2015 now faces harsh criticism from home and... Read More

Bloomberg, Bloomberg view, Buhari, Buy the Naira, CBN, corruption, diversification, Fuel, Godwin Emefiele, obama, Sanusi Lamido Sanusi

September 13, 2016

#30Days30Voices: The government of today has failed | Watch as man laments the cost of fuel

The economy is on a downward spiral, cost of living is soaring and people are losing their jobs daily. That is the fate of poor Nigerians – who still have to purchase fuel at an exorbitant price. On today’s episode of #30Days30Voices, a citizen complains bitterly on the cost of fuel and how the present... Read More

#30days30voices, citizen, economy, effect, Fuel, nigeria, price, subsidy

‘We sleep in darkness because we can’t afford fuel’ – Osun Deputy Speaker

The Deputy Speaker of the Osun state House of Assembly, Akintunde Adegboye has said to stop thinking that members of the state Houses of Assembly are making money like those in the National Assembly. Adeboye, who noted that state lawmakers are facing hardship due to the economic downturn, stated this when he delivered a lecture... Read More

Featured, The News Blog

broke, Deputy speaker, Fuel, Generator, lawmakers, money, Osun State

The Big 5: These are the stories you should be monitoring today

These are the top five stories to monitor today 1. Portugal are the new champions of Europe The Portuguese national football team have won the Euro 2016 championship 2. Fuel scarcity looms in the horizon Following the strike action embarked on by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Thursday, depots within... Read More

bail, championship, ese oruru, Euro 2016, Fuel, kidnapper, nigeria, portugal

Fuel scarcity: Lagos depots might run out of fuel soon

Depots in Apapa, Lagos, might run out of fuel if the ongoing strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) is allowed to go on beyond Wednesday, the Punch reports. Due to the industrial action embarked by PENGASSAN on Thursday, loading at Apapa, a major oil depot within the country,... Read More

Apapa, Fuel, lagos, nnpc, PEF, PENGASSAN, scarcity, strike

This is how much NNPC lost in April… and other bad news

Following the drop in oil production, the Nigerian National Petroleum Corporation, in April, lost N19.43 billion as the production capacity of the country plummeted from 59.27 million barrels in February to 57.43 million barrels in March. The figures were contained in the latest financial and operations report released on Wednesday by the NNPC. The corporation revealed... Read More

2016, april, dropped, earning, Fuel, march, nnpc, Oil, prodcution

Ladies and gentlemen, fuel scarcity is about to return

by Chi Ibe Oil marketers have still not resumed the importation of petrol despite the sharp increase in its pump price. The Cable is reporting a government source who describes it as “a stab in the back” . To resolve the foreign exchange crisis affecting the Nigerian National Petroleum Corporation (NNPC) as only importer of... Read More

CBN, central bank, Fuel, fuel scarcity, importation, NPC, pump price, subsidy

Opinion: What rubbish subsidy removal?

ny Stanley Ilechukwu I’ve been listening to all the arguments for and against the “subsidy removal”of the Buhari led government and it’s just hilarious. From that of the current government, whose hand has been forced to execute this “removal” due to the economic backlash necessitated by the uncertainty and the half-thought out policies it has... Read More

Forex, Fuel, oil marketers, PMS, pppra, subsidy, template

Opinion: Not on fuel subsidy, Buhari!

“The royalists of the economic order have conceded that political freedom was the business of government, but they have maintained that economic slavery was nobody’s business.” – Franklin D. Roosevelt, 1936 President Buhari was in faraway London to attend an Anti-Corruption Summit when the British Prime Minister, David Cameron, made a statement that Nigeria and... Read More

Buhari, drown, Fuel, international, Kachikwu, nigeria, Oil, subsidy

NLC to Nigerians: ‘Be part of this historic struggle in defence of yourself’

The Nigerian Labour Congress (NLC), on Wednesday thanked its members and affiliates for coming out enmasse to carry out the industrial action against the increase in the price of fuel. This was contained in a statement signed by Peter Ozo-Eson, NLC’s secretary general. The union said: “We salute their courage, patriotism and sacrifice in the... Read More

Featured, The News Blog

Berger, Fuel, nigeria, nigerians, nlc, protest, strike, Tomorrow

Fuel subsidy: FG pays oil marketers off finally

Amidst the controversy that has hitherto surrounded the announcement of the removal of subsidy by the Federal Government, the Minister of Finance, Kemi Adeosun has disclosed that the outstanding N48.2 billion owed oil marketers have been paid off. The Minister revealed this in a statement released on Tuesday, May 17. She said the payment of... Read More

Buhari, Fuel, government, nlc, oil price, regime, strike, subsidy

NLC says you guys should stockpile food in preparation for national shut down

The National Labor Congress, NLC and the Trade Union Congress, TUC have been breathing fire out of their mouths since the Federal Government announced the removal of the subsidy on petrol. The unions had announced that a nationwide strike action would be carried out on Wednesday, May 18 to protest against the seeming insensitivity of... Read More

Buhari, Fuel, government, Labour, Oil, subsidy, TUC, union, wabba

Opinion: These are the benefits of the new fuel price

The subsidizing of petroleum products especially Premium Motor Spirit (PMS) in Nigeria has been a source of heated debates between individuals, government officials, investors and civil societies since as far back as the mid-80s. The argument ‘to subsidize or not to subsidize’ has finally been put to rest with the announcement by the Minister of... Read More

amenities, education, Fuel, nigerians, nnpc, subsidy

Opinion: The economics of this subsidy removal of a thing

In January 2012, hundreds, maybe even thousands of people thronged designated spots in the major cities of Nigeria to protest President Goodluck Jonathan’s abolition of fuel subsidies. At the time, it seemed like the right thing to do. With our status as Africa’s top producer of crude oil, it was – and remains – unfathomable... Read More

corruption, economy, Fuel, nigerians, oil marketers, price, subsidy

Mazi Emeka: Why NNPC is selling fuel at N145

The internet threw a question at us and we decided to answer it. A few days ago, the Minister of state for Petroleum Resources, Ibe Kachikwu, announced that the federal government will remove subsidies on fuel and allow market dynamics to determine the price of the product. Expectedly, this will result in an increase in... Read More

Forex, Fuel, Kachikwu, market forces, N145, nnpc, price, subsidy

Fayose has words for the FG over subsidy removal

The Ekiti state governor, Ayodele Fayose, has lambasted the federal government over its decision to increase the price of fuel from N86.50 to N145. Fayose, who spoke through his Special Assistant on Public Communications and New Media, Lere Olayinka, noted that the move by the federal government was a demonstration of insensitivity and hatred towards Nigerians.... Read More

2012, APC, Buhari, Fayose, FG plans to increase fuel price, Fuel, hardship, increase, nigerians, PMS

Nigeria to overcome fuel scarcity as marketers get access to forex

It appears that a temporary end to the continued scarcity of petrol across the nation is around the corner. The Independent Petroleum Marketers Association of Nigeria, has declared that access to foreign exchange has been granted for the importation of petroleum products. With the access, it relatively means that the marketers would be able to... Read More

dollars, Forex, Fuel, Marketers, naira, Petroleum, scarcity, Work

FG to pay subsidy to oil marketers – Here’s why

The Nigerian government, on Monday, announced that it will pay fuel subsidy to oil marketers based on the profits made from the first quarter of 2016. This disclosure was contained in a template released by the Petroleum Product Pricing Regulatory Agency in Abuja. The PPPRA stated that the federal government made N10 billion between the... Read More

Fuel, nnpc, pppra, subsidy

This is how much Nigeria spends to import fuel every 4 months

An average of $1.8 billion is spent – every 4 months – on the importation of Premium Motor Spirit, into the country. This was revealed on Wednesday, April 13, by the Nigeria National Petroleum Cooperation while also apologising to Nigerians for the lingering scarcity of the product across the country. Four officials of NNPC –... Read More

Fuel, import, nigeria, quarterly

Unilag lecturer slaps woman and tears her clothes

UNILAG becomes latest casualty of fuel scarcity (PHOTOS)

Following the massive student protest that halted academic and social activities in the campus, the management of the University of Lagos has ordered students of the institution to vacate the school premises before 10:00 am on Friday. The students had on Thursday embarked on protest to express their grievance over the decrease in power and... Read More

closed, Fuel, protest, UNILAG

Foreign exchange, pipeline vandalism caused fuel scarcity – Kachikwu (VIDEO)

In a video posted on his Facebook page, the Minister of State for Petroleum Resources and General Managing Director of the Nigeria National Petroleum Corporation, Ibe Kachikwu, gave a simplified explanation for the fuel crisis in the country. Wearing a simple shirt that was folded up to the elbow and looking tired and worn, Kachikwu... Read More

Fuel, Kachikwu, scarcity

Reuben Abati: A country desperately in search of a miracle

“You look tired” “Ha, my brother. Thanks for being observant. I have been trekking.” “Trekking?” “I went to buy fuel at that fuel station by the Estate gate. I had to abandon the car there. On my way back home, I could not find okada or any other form of transportation.” “No wonder you are... Read More

Fuel, miracle, nigeria, reuben abati

NUPENG: ‘Fuel scarcity will end soon, if…’

The National Union of Petroleum and Natural gas Workers (NUPENG), on Wednesday, informed Nigerians that the current fuel scarcity and long queues at filling stations will soon be a thing of the past. This was disclosed by the South-West Chairman of the union, Tokunbo Korodo, during an interview with newsmen. He stated that normalcy will... Read More

Fuel, nnpc, NUPENG

Unremitted N3.2trn: ‘Audit report is erroneous’ – NNPC

The Nigerian National Petroleum Corporation has reacted to the alleged N3.235 trillion that was not remitted to the federation account in 2014. In a statement released on Wednesday, March 16, by Isiaka Abdulrazaq, Group Executive Director and Chief Financial Officer of NNPC, it was revealed that the report of the Auditor-General of the federation (AuGF)... Read More

audit, forensic, Fuel, nnpc, Oil

Y! Report: No fuel, no water, no electricity… Nigerians suffer severe hardship

As the endless snake-like queue for petrol continues to increase, reality is dawning on Nigerians that their country might just be one of the hardest places to live in the world. A quick tour of the different neighborhoods in different states across the country would reveal the stark reality of the hardship being experienced by... Read More

Featured, The News Blog

Fuel, NERC, outage, Power, scarcity, water

NNPC workers shut out of their offices | Photo: The Cable

‘Unbundling of NNPC is illegal’ | Senate to wade into crisis

The Nigerian Senate will probe the decision of President Muhammadu Buhari to unbundle/reorganise the Nigerian National Petroleum Corporation (NNPC). The Minister of state for petroleum resources, Ibe Kachikwu had on Tuesday, announced the unbundling of the NNPC through the creation of seven independent divisions and 20 subsidiaries. To this effect, Senate Chief Whip, Senator Olusola... Read More

Fuel, nnpc, queues, senate, strike

December 31, 2015

THE YNAIJA TRACKLIST: Buhari won’t protect corrupt APC members | Soldiers molest travellers? | Nothing cheerful about fuel price reduction | More stories

Ohaneze accuses soldiers of molesting travelers on Onitsha bridge. Vanguard PDP vows to sanction any convicted member. Leadership DSS again detains Dasuki. This Day Cleric threatens Buhari, calls for the release of Nnamdi Kanu. YNaija US says more effort is needed to counter Boko Haram. Leadership APC members who misuse security votes will not be... Read More

APC, biafra, boko haram, Buhari, Fuel, PDP, tracklist

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