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Deregulation

The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that more private and public sector collaboration will be encouraged as Nigeria steps up effort to realise its target of boosting domestic gas utilisation.

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.
All Progressives Congress (APC) Nigeria

Strike: APC hails federal government, organised labour over truce

The ruling All Progressives Congress (APC) has commended the decision of organised labour to shelve its planned industrial action earlier slated to begin on Monday.
A worker fills a car's tank at the CO-OP petrol station in Cairo, Egypt April 2, 2020. REUTERS-Mohamed Abd El Ghany

Strike over oil sector deregulation not necessary – expert

A don, Prof. Wumi Iledare, on Monday, said that there was no need for organised labour to embark on strike over the deregulation of the downstream oil sector.
Mele Kyari,

Strike suspension: NNPC chief assures labour on implementation of agreement

The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, has commended labour leaders for suspending their planned protest and strike over hike in electricity tariff and fuel pump price.
The National Union of Textile Garment and Tailoring Workers of Nigeria held a peaceful protest in Lagos on Tuesday to mark the 40th anniversary of the organisation.

NLC, TUC suspend nationwide industrial action

Organised Labour has suspended its planned nationwide industrial action for two weeks over the recent hike in electricity tariff and fuel pump price in the country.
President of the Nigeria Labour Congress (NLC), Mr Ayuba Wabba

Nigerian government, labour to continue dialogue Monday over planned strike

The meeting between the Federal Government and the Organised Labour over the recent hike in fuel price and electricity tariff has been postponed till Monday, Sept. 28, for further deliberation, newsmen report.
Nigeria Liquefied Petroleum Gas Association, NLPGA, has kicked against moves by the Petroleum Products Pricing Regulatory Agency, PPPRA, to impose administrative levy, despite the deregulation of the LPG sector.

NLPGA urges members to ignore PPPRA on administrative levy

Nigeria Liquefied Petroleum Gas Association, NLPGA, has kicked against moves by the Petroleum Products Pricing Regulatory Agency, PPPRA, to impose administrative levy, despite the deregulation of the LPG sector.
Nigerian President Muhammadu Buhari3

President Buhari: Deregulation will bring down price of petrol

Though the deregulation of petrol is causing hardship across the polity, the initial pain will eventually give way to greater benefits among which include a significant reduction in the price and availability of the product at all times, according to Nigerian President, Muhammadu Buhari.

Oil marketers list gains of fuel deregulation to Nigerians

The Major Oil Marketers Association of Nigeria (MOMAN) says the deregulation of the sale of Premium Motor Spirit (PMS), also known as petrol, will be beneficial to Nigeria and Nigerians in the long run.

Nigerian government to convert flared gas to affordable electricity – minister

Minister of State for Petroleum Resources, Chief Timipre Sylva, yesterday, disclosed that the Federal Government is currently working with critical stakeholders in the oil and gas industry to convert the massive amount of gas being flared in the country to electricity for Nigerians at a cheaper rate.

PPPRA: Deregulation will force down PMS price

The Petroleum Products Pricing Regulatory Agency (PPPRA) says full deregulation of the downstream oil and gas sector will help force down price of Premium Motor Spirit (PMS) also known as petrol.

Oil marketers condemn planned protest, shutdown over fuel price hike

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.

Oil marketers insist on full deregulation

The independent oil marketers operating under the aegis of the Private Depot of Oil and Gas Marketers Association of Nigeria (PDOGMAN) has impressed on the federal government the need to embark on full deregulation of the downstream sector of the nation’s oil and gas industry, saying this would benefit the economy on the long run.
The Petroleum Products Pricing Regulatory Agency (PPPRA) is set to commence a comprehensive audit and survey of downstream oil and gas logistic facilities, with a view to identifying the infrastructure gap in the sector

PPPRA: Why we still provide ‘guiding price’ for petrol despite ‘deregulation’

The Petroleum Products Pricing Regulatory Agency (PPPRA) says it is no longer fixing the pump price of Premium Motor Spirit (PMS) also known as petrol for marketers.
Auwal Ibrahim Musa Rafsanjani

CISLAC, Transparency call for reform in oil and gas sector

This was contained in a statement signed by the Executive Director, CISLAC, Auwal Ibrahim Musa, where the CSOs expressed concern over hemorrhage on revenue flows and oil production that has earned Nigeria’s oil sector a not-too-favorable reputation both locally and internationally.
Mele Kyari,

Oil price slump: Nigeria not returning fuel subsidy, under-recovery – NNPC

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, Monday, hinted of a possible deregulation of the Nigerian downstream petroleum sector, stating that the Federal Government has eliminated subsidy and under recovery in the industry.

Nigerians hail government’s reduction of petrol price to N125 as marketers kick

Mixed reactions on Wednesday trailed the reduction in the pump price of Premium Motor Spirit from N145 to N125 per litre by the Federal Government.
Governor Dapo Abiodun of Ogun State has assured industrialists in the state of his administration’s readiness to put an end to the deplorable state of road network affecting manufacturers and other road users in the state.

Let’s deregulate oil sector to build roads – Ogun governor

Ogun State Governor, Prince Dapo Abiodun, has stressed the need for the deregulation of the petroleum sector to make fund available for the construction of roads and provision of other basic amenities.

Recent Stories

Sequel to the collapse of a school building in Ejigbo in the early hours of Saturday, the Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu has directed the Ministry of Physical Planning and Urban Development to carry out integrity tests on both public and private schools with buildings of 3 floors and above.

Governor Sanwo-Olu: I have been unable to speak with President Buhari

Governor Babajide Sanwo-Olu, on Thursday, said he was yet to speak directly with President Muhammadu Buhari concerning the shooting of #EndSARS protesters in the State.

#EndSARS: Enugu government exempts essential, emergency workers from curfew

The Enugu State Government has exempted health, essential, and emergency workers from the curfew imposed on the three Local Government Areas (LGAs) that make up Enugu metropolis.
Streaming service Quibi said on Wednesday it intends to wind down its operations and start a process to sell its assets, just six months after its launch.

Hollywood-backed Quibi to shutter six months after launch

Streaming service Quibi said on Wednesday it intends to wind down its operations and start a process to sell its assets, just six months after its launch.

S&P cuts Zambia to default after Eurobond payment missed

S&P Global Ratings Services cut its assessment of Zambia’s debt to selective default after it said it couldn’t meet payments and skipped a coupon on its Eurobonds last week.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

#EndSARS: Nigerian stock market investors lose N113.1 billion

The Nigerian stock market could not sustain the bullish performance recorded earlier in the week as the market, Wednesday, plunged by 0.75 per cent following the curfew announced by the Lagos State as a result of the protest by Nigerian youths against police brutality, tagged #EndSARS.