Friday, April 23

Tag: Fuel Price

Politics

Why PPPRA Lacks Constitutional Power To Determine Fuel Price In Nigeria

Human rights activist, Femi Falana (SAN), has revealed why the Petroleum Products Pricing Regulatory Agency (PPPRA) lacks the ‘constitutional power’ to determine the prices of petroleum products in Nigeria. The cerebral lawyer during an interview with Vanguard on Monday, faulted the attempted announcement of petrol price by PPPRA claiming the decision was ‘unconstitutional’ as the price determination ought to have been done by market forces. “With respect to the attempted fuel hike by PPPRA which has no power whatsoever to make the announcement accredited to it, I was made to understand based on security report that Nigerians were prepared to challenge the increase before the government came out to apologise. “But as far as I’m concerned, the government is nearly buying time b...
Fuel Pump Price May Drop To N100 – Presidential Aide,  Ita Enang
Politics

Fuel Pump Price May Drop To N100 – Presidential Aide, Ita Enang

The Senior Special Assistant to President Muhammadu Buhari on Niger Delta Affairs, Sen. Ita Enang has assured Nigerians that the presidency has taken drastic steps to crash the prices of petroleum products. To do so, the Federal government, according to Enang, has concluded plans to host a National Conference on Artisanal and Modular Refining to integrate local refiners into the mainstream refining in Nigeria. Speaking at the Correspondents’ Arena in Uyo at the weekend, Sen Ita Enang said the Federal Government has agreed to partner with those in the creeks on how to legalise their businesses towards refining with incountry capacities. Slated for March 15-17, the National Conference, Enang explained, is in response to the amnesty extended to the Federal Government by the forme...
Buhari, Governors To Discuss Fuel Pricing On Thursday
Politics

Buhari, Governors To Discuss Fuel Pricing On Thursday

The President, Major-General Muhammadu Buhari (retd.), and the state governors will discuss the issue of fuel pricing Thursday. The Minister of Labour and Employment, Senator Chris Ngige, disclosed this Sunday night after a bipartite meeting of the Federal Government and the organised labour at the Banquet Hall of the Presidential Villa, Abuja. Briefing journalists on their resolutions, Ngige said the labour had investigated the report of the Technical Committee on Premium Motor Spirit Pricing Framework as agreed at the last meeting and made their submissions alongside the Nigerian National Petroleum Corporation. The minister said, “The labour side saw that they were making some points and like I said, it is work in progress. Governors are going to discuss this on Thursday. ...
TUC Tackles Sylva As FG Says Fuel Price Increase Looms
Politics

TUC Tackles Sylva As FG Says Fuel Price Increase Looms

The Trade Union Congress on Tuesday took a swipe at the Minister of State for Petroleum Resources, Chief Timipre Sylva, who told Nigerians to prepare for the pain associated with the increase in crude oil price. Also, the Manufacturers’ Association of Nigeria, the Lagos Chamber of Commerce and Industry and other stakeholders on Tuesday advised the Federal Government to use rising revenue from crude oil to tackle poverty and drive an all-inclusive growth. The groups stated this in separate interviews with The PUNCH while reacting to a statement by Sylva, who earlier on Tuesday warned Nigerians to expect benefits and pain from the rising price of crude oil in the world market. For Nigeria, which relies on crude oil for about 50 per cent of government revenues and over 90 per cen...
Fuel price: Why Buhari compared Nigeria with Saudi Arabia – FG
Politics

Fuel price: Why Buhari compared Nigeria with Saudi Arabia – FG

The Federal Government says the comparison made by the President, Muhammadu Buhari (retd.), on fuel prices between Nigeria, Saudi Arabia and other countries in his 2020 Independence Day national broadcast is justified. Minister of Information and Culture, Alhaji Lai Mohammed, made the submission when he featured on a Radio Nigeria current affairs programme, “Radio Link’’ on Saturday in Abuja. Buhari said in his Independence Day broadcast that “we sell petrol at N161 per litre when same is sold at N168 per litre in Saudi Arabia; N211 per litre in Egypt; N362 per litre in Ghana; N362 per litre in Chad, and N346 per litre in Niger Republic. “It does not make sense for petrol to be cheaper in Nigeria than Saudi Arabia,’’ A cross-section of Nigerians, however, criticised the pre...
SERAP Condemns Arbitrary Electricity Tariff, Fuel Price Hike
News

SERAP Condemns Arbitrary Electricity Tariff, Fuel Price Hike

Socio-Economic Rights and Accountability Project (SERAP) has condemned “the patently unfair and arbitrary hike in electricity tariff and fuel price by the government of President Muhammadu Buhari. This is unjust to many people living in extreme poverty, and entirely incompatible with the Nigerian Constitution of 1999 [as amended] and the country’s international human rights obligations.” Kolawole Oluwadare, SERAP deputy director said in a statement today: “The hike will endanger lives and increase inequality and poverty exacerbated by the COVID-19 pandemic. SERAP will challenge this travesty in court if the Federal Government does not immediately drop these retrogressive measures against the Nigerian people.” “Specifically, the increase in electricity tariff and fuel price clearly vi...
If We Truly Deregulated, Shouldn’t Fuel Price Drop? – Atiku
Politics

If We Truly Deregulated, Shouldn’t Fuel Price Drop? – Atiku

Former Vice President Abubakar Atiku has again punctured the recent deregulation in petroleum that has led to an increase in fuel price, asking “If we truly deregulated, shouldn’t fuel price drop?” Atiku, in rhetorics on his verified Twitter handle Tuesday morning, tweeted that as a businessman, he is more concern with the economic perspective of things. He pointed out that in the US and Europe, fuel prices are far lower than they were in 2019. Then he asked in a ponderously, “If we truly deregulated, shouldn’t fuel price have dropped?” Atiku had, four days ago, rejected the increase in electricity tariff describing the move as “ill-timed and ill-advised.” He also described the move as an “impetuous disregard for the challenges. “I reject the increased electricity tariffs...
Dapo Abiodun Supports Increased Fuel Price, Electricity Tariff
Politics

Dapo Abiodun Supports Increased Fuel Price, Electricity Tariff

The governor of Ogun State, Dapo Abiodun, on Thursday expressed his support for the hike in electricity tariff and fuel pump price. Abiodun made his position known on the increases that have attracted knocks from Nigerians in an interview with State House correspondents after a meeting he had with the President, Major General Muhammadu Buhari (retd.), at the Presidential Villa, Abuja. On the price of fuel, the governor said it was not possible to enjoy lower price when the price of crude oil is low and still expect to enjoy same price when the price of crude goes up. “First, you want to enjoy lower prices when the prices of crude are low and then not want to pay for a slight increase when there is an increase in price of crude. “The price of crude is directly proportional to th...
Gani Adams Urges FG, NASS To Reverse Fuel Price, Electricity Tariff
News

Gani Adams Urges FG, NASS To Reverse Fuel Price, Electricity Tariff

The Aare Onakakanfo of Yorubaland, Iba Gani Adams, has urged the Federal Government to rescind its decisions on recent increase in the pump price of Premium Motor Spirit (PMS) and electricity tariff. Adams, in a statement by his Special Assistant on Media, Kehinde Aderemi, in Lagos on Thursday, said the hike in petrol price and electricity tariff would multiply hardship of the masses. According to him, many Nigerians are finding it difficult to survive economic effects of the COVID-19 pandemic. “The hardship that will result from the increase in pump price of petrol and electricity tariff will, for a long time, affect the people of this country. “With this sudden increase, the prices of every commodity will definitely reach the rooftops and this will be more felt particularly, ...
Politics

Atiku Abubakar Reacts To Fuel Price Hike

I reject the increased electricity tariffs. Coming out of the lockdown, Nigerians need a stimulus, not an impetuous disregard for the challenges they face. Many Nigerians have not earned an income for months, due to no fault of theirs. This increase is ill-timed and ill-advised.
Femi Fani-Kayode Speaks On N162 Fuel Price, Says Nigerians Should Expect More From Buhari
Politics

Femi Fani-Kayode Speaks On N162 Fuel Price, Says Nigerians Should Expect More From Buhari

A former Minister of Aviation, Chief Femi Fani-Kayode has said Nigerians should expect more hardships from President Muhammadu Buhari’s government. Reacting to the increase in pump price of premium motor spirit (PMS) otherwise known as petrol to N162 per litre with effect from September 2, 2020, Fani-Kayode in a post on his social media handles said he predicted that Nigerians will be worse off if the All Progressives Congress (APC) was elected in 2015. He also said that he warned Nigerians in 2015 but they rejected the Peoples Democratic Party (PDP) and former President Goodluck Jonathan. He also said that he warned Nigerians in 2015 but they rejected the Peoples Democratic Party (PDP) and former President Goodluck Jonathan. Fuel =N87 ECA =$2.5bn Dollar =N200 Bag of rice =N...
New Taxes, Charges Buhari Govt Has Imposed On Nigerians Since 2015
Politics

New Taxes, Charges Buhari Govt Has Imposed On Nigerians Since 2015

Since coming to office in 2015, the Buhari administration has introduced policies that have resulted in Nigerians paying more for some services. The administration has set its is policy thrust around reviving the economy, fighting corruption and combating insecurity. Though it has achieved some and fallen short of most of its promises in the three areas, more Nigerians have felt the pinch of its economic policies. Below are some of the services for which Nigerians have been compelled to do more out of pocket spending in the last four years. Fuel Price On May 11, 2016, barely a year after been sworn into office, the Buhari administration increased the pump price for petrol from N86.50 to N 145. Arguing that the price of petrol was artificial, the government said the subsi...

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