Local Markets
NNPC Assures Nigerians of Sufficient Petrol, Says No Need for Panic Buying
The Nigerian national petroleum company (NNPC) limited has advised Nigerians not to engage in panic-buying of premium motor spirit, popularly known as petrol.
As the people prepare for the coming Christmas and new year celebrations, the company assured them that it has enough petrol in reserve that will last the nation beyond the festive period.
The group general manager, group public affairs division of the NNPC, Garba Muhammad, gave the assurance in a statement on Tuesday.
He thanked Nigerians for their continuous compliance with the company’s advisories not to engage in panic buying of petrol. Muhammad revealed that NNPC’S stock rose from a reserve of 1.7 billion liters of petrol to over two billion liters within the last one month.
Rather than getting apprehensive over the availability of the product, he asked Nigerians to enjoy the spirit of the festive season.
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Author : Eunice Johnson, Abuja
Nigeria’s Former Head of State, Abdulsalami Abubakar Thursday raised concerns over the removal of fuel subsidy.
Abdulsalami, was speaking at the 19th Daily Trust Summit in Abuja.
He observed that with Nigeria’s multiple challenges, fuel subsidy removal will only compound the situation.
Many stakeholders including the Nigeria Labour Congress have objected to the federal government’s stance to discontinue the payment of fuel subsidy by June.
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The Nigerian Union of Petroleum and Natural Gas (NUPENG) has issued a two-week strike notice to the federal government, raising the possibility of fuel scarcity across the country in the coming weeks.
This was contained in a statement jointly signed by NUPENG President, Williams Akhoreha, and General Secretary, Olawale Afolabi, Monday.
The union said the notice of strike was one of the decisions reached at its special national delegates conference Thursday.
It listed non-payment of workers’ salaries and benefits, among others, as reasons for its resolution.
One of the issues, NUPENG said, was the outstanding payment of terminal benefits to its members that were declared redundant in 2012 by the management of Chevron Nigeria limited.
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The Nigerian national petroleum corporation, NNPC says it is planning to rebuild critical roads under the tax credit scheme.
Its group managing director, mele kyari revealed this during a meeting on NNPC’S intervention over the weekend with the petroleum tanker drivers branch of the Nigeria Union of petroleum & natural gas workers, NUPENG.
According to him, stakeholders have agreed on a framework for NNPC’S intervention in critical road rehabilitation through the federal government tax credit scheme so as to find lasting solutions to the road network challenges and other lingering issues.
He explained that established under FG’S executive order 7 of 2019, the road trust fund policy/tax credit scheme gives private sector operators an opportunity to fund critical infrastructure with the government.
It would be recalled that following NNPC’S intervention over the weekend, the petroleum tanker drivers branch of the Nigeria Union of petroleum & natural gas workers called off a planned strike action, agreeing instead to accept the dialogue option proposed by the corporation, a development that has sustained smooth supply and distribution of petroleum products nationwide.
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