Timipre Sylva
No plans to Scrap NNPC in the PIB – minister
The Federal Government on Monday said that there are no plans to Scrap the Nigerian National Petroleum Corporation, NNPC in the Petroelum Industry Bill 2020 that has been transmitted to the National Assembly by President Muhammadu Buhari. Answering questions from Journalists in Abuja after an interactive meeting with the leadership of the National Assembly, Minister of State for Petroleum, Timipre Sylva, who allayed the fears of staff of the Corporation and Nigerians, said that the bill seeks for the commercialisation of NNPC and not outright scrapping. The meeting which was Presided over by the President of the Senate, Senator Ahmad Lawan, with the Speaker, House of Representatives, Femi Gbajabiamila, and other Leaders of the National Assembly in attendance is aimed at discussing the deta...
Labour insists on reversal of fuel price, electricity tariff hike
File Photo The organised labour Thursday insisted that the Federal Government should revert back to the old prices of petrol and electricity tariff, if not the strike will stand. This is as the Minister of Labour and Employment, Senator Chris Ngige and the President of Trade Union Congress, TUC, Comrade Quadri Olaleye, had a hot altercation over the letter to President Muhammadu Buhari to reverse the prices of petrol and electricity tariff. Meantime, Secretary to the Federal Government, SGF, Boss Mustapha said that deregulation of the Petroleum sector was long overdue, but the TUC President maintained its previous position that government should revert to the old prices before any discussion would continue. The meeting which took place at the Old Banquet Hall of the Presidential Villa, had...
PPPRA: Previous administrations spent N8.9 trillion on subsidy in 10 years
The Petroleum Products Pricing Regulatory Agency, PPPRA, yesterday, disclosed that N8.9 trillion was spent on fuel subsidy by the Federal Government, mainly by previous administrations, between 2006 and 2015. According to data released to support the need for deregulation of the downstream petroleum industry, the PPPRA stated that the bulk of the sum was expended between 2011 and 2015, where N6.7 trillion, representing 74.8 per cent of the total were spent on subsidy. Giving a breakdown of the figure, the PPPRA disclosed that N257.36 billion, N271.51 billion, N630.57 billion, N409.31 billion, and N667.08 billion were spent on fuel subsidy in 2006, 2007, 2008, 2009, and 2010, while in 2011, 2012, 2013, 2014 and 2015, fuel subsidy gulped N2.1 trillion, N1.35 trillion, N1.32 trillion, N1.22 t...
Nigerian government not financially able to pay subsidy – minister
Minister of State for Petroleum Resources, Chief Timipre Sylva, Thursday, disclosed that the Federal Government was not currently capable, financially, to pay the subsidy. Addressing newsmen men in Abuja, Sylva disclosed that since the introduction of the deregulation policy, the country has saved about N1 trillion. He further disclosed that the Federal Government has concluded plans to merge the Petroleum Products Pricing Regulatory Agency, PPPRA, and the Petroleum Equalisation Fund, PEF, into one agency called The Authority. Get more stories like this on Twitter 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 ...
Oil marketers condemn planned protest, shutdown over fuel price hike
AHA Taxis Oil marketers, under the aegis of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), yesterday, kicked against attempts by some labour groups and trade associations to stage a protest march in opposition to the recent hike in the price of Premium Motor Spirit, also known as petrol. The Nigeria Labour Congress (NLC), United Labour Congress (ULC) and some other oil marketing groups had threatened to embark on a nationwide strike over the hike in petrol price, while they called on the government to revert to the previous price. In a statement in Abuja, National President of PETROAN, Dr. Billy Gillis-Harry, stated that while its members are not happy with the way certain things are in the downstream petroleum industry at the moment, they do not think any stree...
Timipre Sylva wants Bayelsa APC members to remain strong
The Leader of the All Progressives Congress (APC) in Bayelsa and Minister of State for Petroleum Resources, Chief Timipre Sylva, on Monday, advised members of the party in the state to remain strong and steadfast. Sylva gave the advice in a statement in Yenagoa, issued by the APC State Publicity Secretary, Mr Doifie Buokoribo. “Despite the troubling times in which we are all living in, APC members and supporters in the state must not lose hope,” he said. The minister observed that APC’s overwhelming victory in the Nov. 16, 2019 Governorship election that was voided by the Supreme Court on Feb. 13 still hurts. He said that the party cannot allow itself to be destroyed by that unfortunate incident. “It must survive it, reinvent and reposition itself for the great task of transforming Bayelsa...
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