Labour Force
Fuel Price Hike: FG to Support Marketers on Petrol Import
The Federal government says it will make the dollar accessible to oil marketers in order to make the importation of petrol into Nigeria competitive and help reduce the commodity’s rising cost.
This was disclosed during a meeting between oil marketers and officials of the federal ministry of finance on the need to make the foreign exchange available for petrol imports.
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This move according to marketers, would halt the current monopoly in the importation of petrol.
The National president, Independent Petroleum Marketers’ Association of Nigeria, Chinedu Okonkwo, told journalists on Monday that petroleum product dealers would start importing petrol soon.
The Nigerian National Petroleum Corporation has been the major importer of petrol for more than two years while other players in the downstream oil business purchase the product from NNPC to dispense in their retail outlets.
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Kogi state governor, Yahaya Bello, has approved the implementation of N30,000 as minimum wage for the workers in the state.
The secretary to the state government, Folashade Ayoade disclosed this on Tuesday after an extensive meeting with the organized labour in Lokoja
She blamed the delay in the implementation on the inability for the committee to meet regularly due to the covid-19 pandemic which has been overcome.
The SSG equally commended the organised labour for their understanding and patience, which she said has resulted into the signing of the implementation of the new minimum wage.
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The Federal Government on Friday said it would not increase petrol price in June despite the recommendation by the Nigeria Governors Forum that the cost of the commodity is increased.
A committee set up by the Nigeria Governor’s Forum had on Wednesday recommended a petrol price of between N408.5/litre and N380/litre, and also called for immediate removal of petrol subsidy.
However, in a statement issued and signed by the Minister of State for Petroleum Resources, Chief Timipre Sylva, in Abuja on Friday, the government ruled out the possibility of a hike in petrol price any time soon.
The minister guaranteed Nigerians that the cost of the commodity would remain the same at between N162/litre and N165/litre.
Sylva said, “Once again it has become necessary to assure Nigerians that despite the huge burden of under-recovery, the Federal Government is not in a hurry to increase the price of Premium Motor Spirit (petrol) to reflect current market realities.
“The current price of petrol will be retained in the month of June until the ongoing engagement with organised labour is concluded.”
“This clarification becomes necessary in the light of recent reports regarding the resolution of the Nigeria Governors Forum to increase the pump price of petrol.” He added.
The minister stated that he would like to strongly urge petroleum products marketers, not to engage in any activity that could jeopardise the supply and distribution system in place.
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The National Identity Management Commission (NIMC) on Thursday said that there is no cause for panic regarding the two weeks deadline for deactivation of subscribers identity module (sim) cards that are not linked with users’ national identity number (NIN).
The Commission explained that adequate arrangements have been made to capture the data of 200 million Nigerians within the next five years.
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It added that the steps taken so far to ensure that all subscribers have NIN in their sim cards are meant to address the security challenges facing the country.
The Commission also said the telecommunications operators would be involved in the exercise.
The Spokesman of NIMC, Kayode Adegoke said that government has approved licensing of over 200 institutions to carry out “enrolment of Nigerians and legal residents into the national identity database on behalf of the national identity management commission.”
Adegoke said the initiative was aimed at addressing the bottlenecks associated with the capturing of citizens data by NIMC.
He added that the method would increase the enrolment centres from the current 1,000 to 10,000 across the country.
He said the NIMC is desirous of scaling up its assignment to regulatory functions after the completion of the exercise.
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