Saturday, November 17, 2018

Tag "fuel scarcity"

    MURIC: Another attempt might be made to cause fuel scarcity

MURIC: Another attempt might be made to cause fuel scarcity

The Muslim Rights Concern (MURIC) has called on the federal government to be on the lookout for “sponsors” of artificial petroleum scarcity towards the end of the year.In a statement by Ishaq Akintola, MURIC director, the group described the scarcity as an “annual phenomenon, asking the government to avoid  a repeat of the situation in 2018.The group blamed the scarcity [...]

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    Fuel scarcity: The economic and political interests

Fuel scarcity: The economic and political interests

Economics and politics have always been at war - silent, sometimes violent. Like water and fuel, they don’t mix well.‎ In developing countries politics tends to enjoy the upper hand, often rubbishing the best of economic sense. Called impasse, these are impregnable walls to stop the advancement of economic argument or interest.But in the current fuel situation, there seems to [...]

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    Kachikwu to NNPC: Do whatever it takes to end petrol queues in Abuja

Kachikwu to NNPC: Do whatever it takes to end petrol queues in Abuja

Ibe Kachikwu, minister of state for petroleum resources, says the Nigerian National Petroleum Corporation (NNPC) should “do whatever it takes” to end petrol queues in Abuja before Sunday.Speaking at a press conference on Thursday to announce the upcoming Nigeria International Petroleum Summit (NIPS) in Abuja, Kachikwu said it would be “embarrassing” for delegates of the event to witness the long [...]

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    Dogara: Fuel scarcity won’t stop until we’re able to refine crude locally

Dogara: Fuel scarcity won’t stop until we’re able to refine crude locally

Yakubu Dogara, speaker of the house of representatives, says the solution to incessant fuel scarcity in the country is the ability of the country to refine crude locally.He said this on Tuesday when he received executive members of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) in Abuja.The speaker said until Nigeria is able to refine its [...]

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    A bigger fraud is being perpetrated, says Saraki on fuel subsidy

A bigger fraud is being perpetrated, says Saraki on fuel subsidy

Senate President Bukola Saraki has reacted to an ongoing investigation into “discrepancies” in fuel subsidy, saying its reintroduction is fraudulent.Saraki made this known in a statement on Wednesday.According to him, ongoing debates in the senate were aimed at enforcing reforms in the oil and gas sector, including bringing an end to the lingering fuel scarcity.“Today, the senate debated the interim report [...]

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    Dogara laments: All is not well… Nigeria is now being painted red with blood

Dogara laments: All is not well… Nigeria is now being painted red with blood

Yakubu Dogara, speaker of the house of representatives, has lamented the killings in various parts of the country.In his address to lawmakers when they resumed from recess on Tuesday, Dogara frowned at the violence in Benue, Taraba, Kaduna, Rivers, Zamfara, and Adamawa states."Indeed at no time in the recent past has the nation’s peace and unity been so vigorously [...]

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    Nigeria is ‘eighth cheapest country to buy petrol’

Nigeria is ‘eighth cheapest country to buy petrol’

Nigeria is the eighth cheapest place in the world to buy petrol according to a report by Bloomberg.The report explained that Nigeria's selling price of N145 (equivalent to $0.40 per litre) and $1.52 per gallon makes it one of the 10 cheapest places in the world to buy gasoline compared to a global average of $1.12 per litre.The report said [...]

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    Pump price of fuel should not go up ‘even by one naira’

Pump price of fuel should not go up ‘even by one naira’

Accountable Leadership for Better Nigeria Initiative (ALBNI), a newly registered civil society group, says any plan to hike the price of petroleum products is “absurd” and should be “quashed”.The group said this in a statement jointly issued by Ogochukwu Paul, its director of media and communication, and signed by Remi Adebayo, president.“Our position on the planned fuel increment by the [...]

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    Fuel scarcity hits harder as government fails again

Fuel scarcity hits harder as government fails again

 BY WILLIAMS EKANEMAgain, government of the day in Nigeria has failed to alleviate suffering of Nigerians caused by acute shortage of fuel, notwithstanding the country’s status as the chief oil producing country on the African continent.Year in year out, governments in power have failed woefully to stem the reoccurring hard bite of fuel scarcity, especially at festive seasons, with this [...]

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    Recurring fuel scarcity: Is price control the panacea?

Recurring fuel scarcity: Is price control the panacea?

BY ABUBAKAR D SANIIntroductionI believe that the recurring incidence of non-availability of petrol at the pumps puts in stark relief the failure of policy options that have so far been deployed to tackle it. It is thus clear that fresh thinking is required. In this regard, I believe that the problem will persist unless any strategy for permanently resolving it [...]

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    We’ve tamed the monster of petrol scarcity, says Baru

We’ve tamed the monster of petrol scarcity, says Baru

Maikanti Baru, group managing director of the Nigerian National Petroleum Corporation (NNPC), says the monster of petrol scarcity has been tamed.Baru made this statement when addressing journalists after the Jumat service at the Aso villa mosque on Friday.Blaming the recent scarcity experienced on players in the oil market, he said normalcy has returned to Abuja, Lagos and some other parts [...]

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    Govt officials, marketers conniving to create petrol scarcity, says Balarabe Musa

Govt officials, marketers conniving to create petrol scarcity, says Balarabe Musa

Balarabe Musa, a former governor of the old Kaduna state, has blamed the current petrol crisis on activities of saboteurs in the oil industry.Musa told NAN on Thursday that Nigerians were going through this hardship due to selfish interest of some people.He alleged that some petroleum marketers, in connivance with some government officials, hoarded petroleum products to create artificial scarcity [...]

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    Petrol scarcity: Senate cuts short recess, summons Kachikwu, Baru

Petrol scarcity: Senate cuts short recess, summons Kachikwu, Baru

Senate President Bukola Saraki has directed the committee on petroleum resources to cut short its recess and convene a stakeholders meeting over petrol scarcity.Kabir Marafa, chairman of the committee, who disclosed this in a statement on Thursday, said the meeting would hold on January 4.The statement explained that the meeting was meant to address the lingering fuel scarcity "with a view [...]

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    Ezekwesili: NNPC officials running around filling stations to impress Buhari

Ezekwesili: NNPC officials running around filling stations to impress Buhari

Oby Ezekwesili, former minister of education, says officials of the Nigerian National Petroleum Commission (NNPC) are “running around” fillings stations to impress President Muhammadu Buhari.In the last few days, Maikanti Baru, group managing director of NNPC, and some top officials of the corporation have been going to filing stations over the petrol scarcity being experienced in the country.The scarcity has [...]

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    Why Buhari MUST sell our refineries NOW!

Why Buhari MUST sell our refineries NOW!

Year 2017 is ending like its brothers, 2014, 2015, and 2016, featuring at least one major economy-wrenching fuel scarcity. The year is rounding up with biting scarcity of petroleum products, especially petrol, in every nook and cranny of Nigeria. The errors and deceptions of yesterday finally caught up with us as a people, and we have to pay dearly for [...]

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    Marketers: Our depots are empty — we’re NOT hoarding fuel

Marketers: Our depots are empty — we’re NOT hoarding fuel

The Depot and Petroleum Products Marketers Association (DAPPMA) says members' depots are empty, maintaining that they are not hoarding fuel and are therefore not responsible for crippling crisis.In a statement signed by Olufemi Adewole, DAPPMA's executive secretary, and shared with TheCable, the association said there are always issues when the Nigerian National Petroleum Corporation (NNPC) takes on the role of "sole importer" [...]

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Exchange Rates

November 16, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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