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The Chief Executive officer of FSDH Merchant Bank Limited, Hamda Ambah, has said the government must provide palliative measures for the masses to guarantee the success of the deregulation of the downstream oil and gas sector, which will lead to the removal of fuel subsidy.
Nigerian National Petroleum Corporation says that the ex-depot price of Premium Motor Spirit, also known as petrol, remains N133.28 per litre.
The Major Oil Marketers Association of Nigeria (MOMAN) says the association will support Federal Government’s petroleum industry policies including the policy on deregulation.
Oil marketers yesterday confirmed receipt of N236 billion being first tranche payment of the outstanding N800 billion subsidy debt owed its members.
Despite threats by petroleum depot owners to shutdown operations if their unpaid N800 billion subsidy claims were not cleared, the Nigerian National Petroleum Corporation (NNPC) says it has sufficient petroleum products in its facilities and urged consumers across the country not to engage in panic buying.
PENGASSAN and NUPENG call for quick resolution of ongoing rift over unpaid fuel subsidy claims before it snowballs into huge crisis that will plunge Nigeria into catastrophic economic mess
Nigerian National Petroleum Corporation (NNPC) fast-tracks agreements with bulk purchase marketers in Nigeria
Federal government says oil marketers would be paid N236 billion out of N348 billion approved by the National Assembly as outstanding subsidy claims on December 14
Ikem-Obih, said that while this first tranche will be paid, the balance of the subsidy debt will be cleared by the government in 2019 and 2020, after meeting with the marketers again.
Subsidy arrears: Oil marketers insist no agreement with federal government as ultimatum lapses on...
Oil marketers on Saturday said they did not reach any agreement with Federal Government on the N800 billion subsidy arrears, saying their ultimatum to cease depots operations on Monday remained unchanged.
The Federal Government says it has reached an agreement with petroleum marketers on the settlement of their outstanding claims.
Oil marketers have given the Federal Government an ultimatum, threatening to shut down depots across the country.
Oil marketers under the aegis of Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association (DAPPMA), and the Independent Petroleum Products Importers (IPPIs) on Sunday gave the Federal Government seven days to settle the N800 billion subsidy debt owed them under the Petroleum Support Fund.
To stem cross border leakages and forestall attendant products price hikes, Managing Director of the Petroleum Products Marketing Company (PPMC), Mr. Umar Ajiya, has enjoined Major Marketers Association of Nigeria (MOMAN) to regulate the volumes of petroleum products dispatched to their members’ affiliate stations close to the country’s borders.
The meeting, which is at the instance of the DMO is designed to provide an opportunity for the debt management agency to explain the process for the issuance of promissory notes to settle outstanding arrears due to the marketers as well as provide a ‘Status Report.’
For their inability to service their huge debts, Deposit Money Banks (DMBs) have taken over the assets of some defaulting oil marketers.
Udinese defender William Troost-Ekong says he is enjoying the competition in the Super Eagles camp, ahead of other challenges in his club.
The Federal High Court, Abuja, on Wednesday, adjourned till November 20 for the Police Service Commission to respond to the Attorney-General of the Federation’s counter-affidavit in a suit to stop the recruitment of 10, 000 police officers.
Russia's Embassy to Washington says it has lodged a formal diplomatic protest after Israel extradited a Russian national to the United States, where he is suspected of stealing more than $20 million from U.S. consumers through credit card fraud.
Bolivian ex-president Evo Morales jetted off to exile in Mexico Tuesday in a bizarre flight full of detours that traced the shifting political map of a Latin America racked by crises.
The All Progressives Congress (APC) in Kogi State has accused the governorship candidate of the Social Democratic Party (SDP), Natasha Akpoti, of faking the reported attack on her on Tuesday in Lokoja.
A Jigawa State magistrate court sitting in Babura local government area on Wednesday remanded a 35-year-old man identifed as ‘Chairman Dandanja’ for allegedly raping his friend’s wife.
2019 Africa Cup of Nations (AFCON) top scorer, Odion Ighalo, has warned the Eagles about threat the Squirrels of Benin Republic could pose to the Nigerians when both countries clash on Wednesday in Uyo in a Group L tie for the 2021 AFCON.
Former Green Eagles defender Kadiri Ikhana has called for financial support from Nigerians to enable him undergo three surgeries.
The Deputy Speaker, Delta State House of Assembly, Hon. Christopher Ochor Ochor, has described appeal court judgment in Benin City yesterday, as victory for people of Ukwuani and democracy.
The president of the electoral commission in Guinea announced on Saturday that the legislative elections, which have been delayed for months, will take place on 16 February 2020.