Tag "fuel"

    Sylva: FG making plans for fuel at N97 per litre

Sylva: FG making plans for fuel at N97 per litre

Timipre Sylva, minister of state for petroleum resources, says the federal government is working to make fuel available at N97 per litre, using the compressed natural gas (CNG) as an option to premium motor spirit (PMS).  [...]

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    Fashola: How we are easing the problem of moving fuel during festive period

Fashola: How we are easing the problem of moving fuel during festive period

Babatunde Fashola, minister of works and housing, says his ministry is working towards ensuring the smooth movement of fuel across the country during the festive period.The minister said this in Abuja on Monday during a stakeholders' meeting chaired by Abba Kyari, chief of staff to the president.He said the ministry has instructed contractors to make alternative routes for easy movement [...]

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    Report: Nigerians spend $12bn on generators every year

Report: Nigerians spend $12bn on generators every year

Business owners and individuals in Nigeria spend about $12 billion fueling generators every, according to a report by Bloomberg.Quoting a survey by NOI Polls, the report said households with access to on-grid electricity had an average power supply of only 9.2 hours a day in the first half of 2019.It said in Nigeria, almost everyone, including President Muhammadu Buhari, depends [...]

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    ‘Every day, FG spends N15m to fuel fighter jets’ — Lai defends $1bn insurgency fund

‘Every day, FG spends N15m to fuel fighter jets’ — Lai defends $1bn insurgency fund

Lai Mohammed, minister of information and culture, says the federal government spends N15m daily to fuel the fighter jets used in the Boko Haram war.Mohammed said this in defence of the approval of $1bn from the excess crude account (ECA) for the war against insurgency.He said the aircraft consume 64,021.08 litres of fuel per day amounting to N15.153m daily.The minister [...]

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    Fuel scarcity: Baru, Kachikwu deceived and misled Nigerians, says Falana

Fuel scarcity: Baru, Kachikwu deceived and misled Nigerians, says Falana

Femi Falana, human rights lawyer, says Maikanti Baru, group managing director of the Nigerian National Petroleum Corporation (NNPC), and Ibe Kachikwu, minister of state for petroleum, deceived Nigerians by saying there was enough fuel to supply consumers.In a statement on Monday, Falana said despite the assurance given by the duo, the scarcity of the product has persisted, causing some people [...]

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    Fuel scarcity: Atiku sympathises with ‘struggling’ Nigerians

Fuel scarcity: Atiku sympathises with ‘struggling’ Nigerians

Former Vice-President Atiku Abubakar has sympathised with Nigerians over the persistent scarcity of fuel.In the last three weeks, Nigerians have been experiencing hardship at filling stations.TheCable had reported how some motorists passed the night at filling stations just to be able to get fuel.Commenting via his Twitter handle, Abubakar expressed his heartfelt sympathy."My heart goes out to everyone struggling to see [...]

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    SGF says no plans to increase pump price

SGF says no plans to increase pump price

Boss Mustapha, secretary to the government of the federation (SGF), has assured Nigerians that the federal government is not contemplating any form of hike in the price of petroleum products.Ayodele Fayose, governor of Ekiti state, had said the government had concluded plans to jerk up the price by "at least N45" per litre.But Mustapha said there has never been a time [...]

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    Fayose: I sympathise with Nigerians… fuel price would go up by at least N40 per litre

Fayose: I sympathise with Nigerians… fuel price would go up by at least N40 per litre

Ayodele Fayose, governor of Ekiti state, says the price of fuel would be increased by "at least" N40 per litre.Fayose said this on Friday in reaction to the persistent scarcity of fuel in the country.He said the federal government monopolised the importation of petroleum products to the Nigerian National Petroleum Corporation (NNPC) in order to hike fuel price.The fierce critic [...]

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    APC: No fuel scarcity… stakeholders just hoarding products

APC: No fuel scarcity… stakeholders just hoarding products

The All Progressives Congress (APC) says the scarcity of premium motor spirit (PMS) is artificial.In a tweet on Friday, the ruling party blamed the unavailability of petroleum products on " some stakeholders hoarding allocated products".It, however, regretted any inconvenience the scarcity might have brought Nigerians, saying relevant agencies were working on the issue."There's no 'actual scarcity'. Just some stakeholders hoarding allocated [...]

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    Fayose: FG planning to increase fuel price to N185… scarcity is deliberate

Fayose: FG planning to increase fuel price to N185… scarcity is deliberate

Ayodele Fayose, Ekiti state governor, has alleged that the federal government is deliberately hoarding premium motor spirit (PMS) popularly called fuel, in a plot to increase pump price from N145 to N185 per litre.In a statement by Lere Olayinka, his spokesman, Fayose accused the government of insensitivity to the plight of Nigerians.He asked why the government chose the yuletide season to [...]

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    No plans to increase fuel price, says senate

No plans to increase fuel price, says senate

The senate says there are no plans to “add one naira” to the price of fuel.The upper legislative chamber made the clarifications following reports that a N5 levy would be imposed on every litre of diesel and petrol imported into the country.On Thursday, the senate committee on works made available the report of a proposed bill for the rescue of [...]

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    Senate to consider bill seeking to make Nigerians ‘pay more’ for fuel

Senate to consider bill seeking to make Nigerians ‘pay more’ for fuel

The senate will next week consider a bill to make Nigerians pay more for fuel, TheEagleOnline is reporting.According to the news blog, the bill recommends that Nigerians pay a N5 levy on each litre of petroleum product imported into the country.The proposed law, which is entitled ‘National Roads Bill’, was presented by Kabiru Gaya, chairman, senate committee on works.The N5 [...]

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    ‘Fuel theft’: Senate tells NNPC to go beyond sacking its officials

‘Fuel theft’: Senate tells NNPC to go beyond sacking its officials

The senate has urged the Nigerian National Petroleum Corporation (NNPC) to restructure its operations in a bid to ensure transparency.Reacting to the retirement of some officials over the controversy surrounding missing 130 million litres of fuel, the legislative chamber advised the corporation to go beyond sacking of the officials indicted in the issue.Last week, the oil firm announced that three [...]

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    Crude oil export drops below 1.3m bpd

Crude oil export drops below 1.3m bpd

Ibe Kachikwu, minister of state for petroleum resources, says Nigeria's current crude oil export volume is less than 1.3 million barrels per day (bpd).In an interview with NAN, Kachikwu said the country can only return to producing over 2 million bpd if peace returns to Niger-Delta."What is important is that once we find the peace, which I am sure we [...]

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Ben Bruce tells Buhari to increase minimum wage

Ben Murray-Bruce, senator representing Bayelsa, in a series of tweet, says President Muhammadu Buhari should increase minimum wage for workers to cushion the effect of the price hike.Bruce says the president should either increase the wage of excuse workers from paying tax.“I appeal to @MBuhari to consider the immense suffering in Nigeria and increase minimum wage to help workers cope [...]

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    Kachikwu: Pump price will drop in 6 months

Kachikwu: Pump price will drop in 6 months

Ibe Kachikwu, the minister of state for petroleum resources, says "liberalising" of the oil sector, will force the pump price of fuel, which currently trades at N145, to drop in six months.Kachikwu said this on Thursday when he appeared as a guest on Sunrise Daily, a breakfast programme on Channels Television."We mean well and Nigerians should please trust us. Give us [...]

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Exchange Rates

January 20, 2019USDGBPEUR
INTERBANK306397354
LAGOS355444389
KANO354445370
PH355447412
ABUJA356454413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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