The Minister of State for Budget and National Planning, Clem Agba, on Tuesday, reiterated the need to deregulate the downstream petroleum through the removal of subsidy on Premium Motor Spirit. According to him, only the wealthy were currently benefiting from the subsidy. The minister spoke during the leadership and governors’ discourse on open government partnership held in Abuja, on Tuesday. He said, “Some will say if you take out fuel subsidies the ordinary man will suffer, how will the ordinary man suffer? Is it in terms of food? Vehicles that are used for moving food are heavy-duty vehicles. And they don’t use PMS, they use diesel and that has since been deregulated. Those that we are actually subsidising are the very rich. “Those who drive the Rolls Royce, the Lamborghinis and other ...
Troops of Sector 2 Operation HADIN KAI on Saturday raided suspected Boko Haram Terrorists logistics base in Gujba, Yobe State and arrested two fuel suppliers. The director, Army public relations, Brig Gen Mohammed Yerima, said the troops following a sting operation nabbed two suspected Boko Haram logistics suppliers and recovered 11 jerricans loaded with Premium Motor Spirit (PMS) popularly called petrol, six jerricans of Automotive Gas Oil and nine empty jerricans hidden in different locations in Gujba. He said the suspects are currently in custody for preliminary investigations and would be handed over for prosecution by relevant agencies. The Chief of Army Staff, Major General Faruk Yahaya, while appreciating the troops, enjoined them to sustain the tempo and clear all suspected fortres...
Taskforce personnel attached to the Bayelsa State chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN), have apprehended three tankers suspected to be transporting adulterated Premium Motor Spirit (PMS) from an unidentified source into the state. Bayelsa State Coordinator of IPMAN, Mr. Bello Bina, who confirmed the development to journalists on Saturday, said the trucks were impounded along the Sagbama section of the East-West road. He alleged that some unidentified policemen were currently trying to frustrate the effort of the task force by insisting that the suspected adulterated products are owned by a highly influential person. He said when the effort of the policemen failed, an unidentified man called him on the phone to plead with him to take some financial g...
The Department of Petroleum Resources (DPR) says it has intensified surveillance of filling stations in Lagos State to ensure compliance with the approved pump price band for Premium Motor Spirit (PMS). Mr Ayorinde Cardoso, Zonal Operations Controller, DPR, Lagos, made this known after an inspection visit to some petrol stations located in Ikoyi, Victoria Island and Lekki areas of the state. Newsmen report that the Federal Government had on March 12 denied the increment of petrol to N212 per litre and had directed marketers to revert to the old price regime. Cardoso said the seven petrol stations inspected were selling fuel to customers between N162 to N165 per litre which was the approved price band. “This surveillance visit is part of our regular function and we are coming out today to c...
AHA Taxis The Independent Petroleum Marketers Association of Nigeria (IPMAN) has advised Nigerians to stop panic buying and stocking of Premium Motor Spirit, popularly known as petrol. Alhaji Suleiman Yakubu, the National Public Relations Officer of IPMAN, gave the advice in an interview with newsmen on Sunday in Abuja. Yakubu fielded questions on the long fuel queues recorded at some filling stations in Abuja. He decried the panic purchases and long queues witnessed in various filling stations across the nation’s federal capital. Yakubu however said that crude oil price has gone up and it has affected the price products. He assured Nigerians that normal supply of petroleum products would soon be restored since loading have commenced at various deports. “We want to assure the buyers that g...
The Nigerian National Petroleum Corporation, NNPC, has declared a trading surplus of N13.43billion for November 2020, 54 per cent more than the N8.71billion recorded in October 2020. This is contained in the November 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru Obateru said the trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue in the period under review. The report indicated that in November, NNPC Group’s operating revenue as compared to October 2020, decreased slightly by 0.02 per cent or N0.09billion to stand at N423.08 billion. Similarly, expenditure for the month decreased by 1...
Nigeria Labour Congress, NLC, Monday, rejected the fresh hike in the pump price of Premium Motor Spirit, PMS, commonly known as petrol, which took effect last Friday, demanding for immediate reversal. The post NLC rejects hike in petrol pump price appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
The Independent Petroleum Marketers Association of Nigeria, Kano branch has directed its members across the state to sell Premium Motor Spirit (petrol) from N168 to N170 per litre. The post IPMAN directs members to sell petrol at N170 per liter appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.