The Federal Government, on Wednesday, confirmed that other oil marketers have joined in the importation of Premium Motor Spirit (PMS), popularly called petrol, following the recent removal of subsidy on the commodity. It revealed that about three mega oil marketers were currently expecting PMS cargoes in July, while many others had applied for licences to import the product, as the …

The Federal High Court sitting in Lagos yesterday fixed 18th October for the arraignment of Senator Ifeanyi Ubah and his firm, Capital Oil and Gas, for allegedly making false claims to the Assets Management Corporation (AMCON). Justice Nicholas Oweibo fixed the date following the Federal Government’s complaint that Ubah had repeatedly been absent to take his plea on the charge. …

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has asked for the detention of Vessel Barumk Gas for illegally lifting Butane at Bonny River Terminal. In a letter to the Chief of Defence Staff dated 8th June 2023, signed by the Chief Executive, Engr. Farouk Ahmed, the authority accused oil giant ExxonMobil of collaborating with the vessel owners to …

The Edo State Government has reduced school days to thrice weekly as part of efforts to cushion the impact of fuel subsidy removal. The Chairperson of the Edo State Universal Basic Education Board (SUBEB), Ozavize Salami said this in Benin City on Friday after a meeting between the state’s Head of Service Anthony Okungbowa and other government officials. Friday’s meeting …

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has commended President Bola Tinubu for subsidy removal and tasked him with palliatives for Nigerians. IPMAN National President, Mr Debo Ahmed told newsmen in Abuja that, for a long time, the group had been supportive of the removal of fuel subsidy because of its implication on the economy and the market space. …

The Nigeria Labour Congress (NLC) yesterday said it put off the planned strike over petrol subsidy removal partly in obedience to an order of the National Industrial Court (NICN). The strike suspension was announced after Monday’s marathon meeting between a government team and leaders of the Trade Union Congress (TUC) and NLC. Parties agreed to establish a joint committee to …

The Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila has provided further details about the resolution of last night’s meeting between the Federal Government and labour, highlighting that decision included steps to cushion the effect of the fuel subsidy removal on the people. Gbajabiamila, who will assume duty as Chief of Staff to the President next week after …

A politician and business man, Mr. Gbenga Olawepo-Hashim has appealed to the labour movement and other social groups to accept the removal of the subsidy on petroleum product as a painful surgical procedure instituted to excruciate a dangerous cancerous cell in the life of a patient in order to save the critically ill. In a statement from his media office …

Oil prices were on the rise on Monday following Saudi Arabia’s announcement that it would cut its oil output by one million barrels a day in July. The price of a barrel (159 litres) of North Sea Brent for delivery in August stood at 77.03 US dollars on Monday morning, 90 cents more than on Friday. The price of a …

NNPC Limited has released a new ex-depot price of N479.50 per litre of Premium Motor Spirit (PMS) petrol to the marketers. Marketers are believed not to be against the subsidy removal but are worried that the NNPCL is giving them the product paid for at the old rate since eight months ago for the new rates. They are said to …