N23Bn Diezani Bribe: Absence of the Accused Stalls Judgment

Justice M.B Idris of Federal High Court, sitting in Ikoyi today 7th April, 2017, adjourned the judgment in a case of Independent National Electoral Commission, INEC officials, Christan Nwosu and two others who participated in the sharing of N23 Billion slush funds meant for the buildup of 2015 general election to compromise electoral officers.

Nwosu and two other INEC officials was earlier arraigned on 5th of April, 2017 by the Economic and Financial Crimes Commission, EFCC before Justice Idris of the same Court on a 7 count charge bordering on receiving gratification to the tune of N264, 880,000.00(Two Hundred and Sixty four Million, Eight Hundred and Eighty Thousand Naira), which Nwosu pleaded guilty of receiving N30million from the said campaign bribe money.

NLC, TUC Issued Joint Communique, Orders Buhari To Reverse Pump Price In 3 Days Or Face Indefinite Strike

The Nigeria Labor Congress (NLC) has ordered the federal government to revert to the original price of petrol by Tuesday next week or face indefinite strike from workers. Addressing the press after it's National Working Committee meeting in Abuja today, NLC leaders also urged and asks Nigerians to stockpile food ahead of the protest against fuel subsidy removal.

JOINT COMMUNIQUE ISSUED AT THE END OF THE EMERGENCY MEETINGS OF THE NATIONAL EXECUTIVE COUNCILS OF THE NIGERIA LABOUR CONGRESS, THE TRADE UNION CONGRESS AND CIVIL SOCIETY ORGANIZATIONS HELD ON FRIDAY MAY 13, 2016

The emergency meeting debated extensively the implications of government's unilateral increase in prices of petroleum products, noting government's disinclination for consultation on issues of public interest and its obsession with protecting product marketers at the expense of the Nigerian public. The meeting expressed concern about government's neo-liberal policies which it considered a betrayal of its electioneering promises and observed as follows:

Fuel to sell for #145 per litre says FG: “We shall resist this increase” - NLC

The Nigerian Labour Congress on Wednesday said it would resist the federal government’s scrapping of fuel subsidy and increase of petrol price to about N145 per litre.

“The unilateral increase in prices of petroleum products today by government represents the height of insensitivity and impunity and shall be resisted by the Nigeria Labour Congress and its civil society allies,” the congress said, through a statement by its General Secretary, Peter Ozo-Eson.

The statement added, “With the imposition on the citizenry of criminal and unjustifiable electricity tariff and resultant darkness and other economic challenges brought on by the devaluation of the Naira and spiraling inflation, the least one had expected at this point in time was another policy measure that would further make life more miserable for the ordinary Nigerian

Tension at NNPC as Kachikwu disobeys President Buhari

Tension is now high at NNPC Towers, the headquarters of the Nigerian National Petroleum Corporation (NNPC), with the workers drawing the battle-line with the Minister of State for Petroleum Resources and Group Managing Director of the NNPC, Dr. Ibe Kachikwu, over the extension of retirement dates for two NNPC directors sacked last year.

A report this morning in Daily Trust said Kachikwu’s action is a direct contradiction of a clear directive from President Muhammadu Buhari, who doubles as the Minister for Petroleum Resources.

According to the report, following a request by Dr. Kachikwu to President Buhari to reconstitute the Executive Management of NNPC, the President in August 2015 approved, among other things, the disengagement of all the eight NNPC Group Executive Directors (GEDs).

Crude Oil Price: Doha talks fail, new attempt to reach production agreement possible in June

Oil producing constructions did not manage to sign an agreement to freeze oil production at the January level following six hours of negotiations in Doha on Sunday, but they might hold another round of negotiations in June, Nigerian Minister of State for Petroleum Resources Emmanuel Ibe Kachikwu told reporters.

OPEC and non-OPEC members will probably hold negotiations in June, he said.

Participants in the meeting, including the Nigerian minister and Oman Oil and Gas Minister Muhammad al-Rumhi, said countries need more time to agree on the conditions of an oil production freeze.