FG To Pay Debts Owed Petroleum Marketers Soon – Adeosun

Nigerian Minister of Finance, Mrs Kemi Adeosun, has promised that the Federal Government will soon pay up the debt owed oil marketers in Nigeria.

The Minister made the pledge on Friday at a meeting with Depot and Petroleum Products Marketing Association (DAPPMA) in Abuja, the Federal Capital Territory.

She assured them of a better working relationship between them and the Federal Government, which he said would ensure steady supply of petroleum products across Nigeria.

On his part, the Chairman of DAPPMA, Mr Dapo Abiodun, appealed for access to foreign exchange ‎to enable them continue with their business.

Kaduna Govt speaks on recent police actions, urges calm on petrol supply

The Kaduna State Government has not started enforcing the prohibition of begging and hawking. A government statement explained that the prohibition of begging law will not take effect until after 60 days. The statement added that it is the police that is currently undertaking arrests within Kaduna as part of security operations directed by the Inspector General of Police.

According to Samuel Aruwan who is the Special Assistant to the Governor Media and Publicity: “The Kaduna State Government has not directed the police to enforce the begging law, which is not due to come into force yet. Malam Nasir El-Rufai has repeatedly stated that rehabilitation opportunities would be offered for the disabled. The State Executive Council has just approved a Disability Policy, which is a necessary precursor to the drafting of any bill or other measures to promote the rights of the disabled.

Ministry of Petroleum Resources prepares ‪#‎FACTSHEET‬ that tries to answer all your questions on new petrol price in Nigeria

The Federal Ministry of Petroleum Resources has prepared a ‪#‎FACTSHEET‬ that tries to answer all your questions on the new price of petrol in Nigeria:

Top 13 Frequently Asked Questions (FAQs):

1.What is the benefit of the new price regime to Nigerians?

This government is elected to serve the people and provide benefits to all. The new pricing regime brings the following benefits:
Solves the recurrent fuel scarcity crisis by ensuring availability of products at all locations of the country
Reduce hoarding, smuggling and diversion substantially and stabilise price at the actual product price
Ensures market stability and Improves fuel supply situation through private sector participation
Creates Labour market stability (will potentially create additional 200,000 jobs through new investments in Refineries and Retails and prevent potential loss of nearly 400,000 jobs in existing investments)

2. Why the new price regime?

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

PRESS STATEMENT ON CURRENT FUEL SITUATION IN NIGERIA BY MINISTER OF STATE FOR PETROLEUM RESOURCES, IBE KACHIKWU

We have just finished a meeting of various stakeholders presided over by His Excellency, the Vice President of the Federal Republic of Nigeria.

The meeting had in attendance the Leadership of the Senate, House of Representatives, Governors Forum, and Labour Unions (NLC, TUC, NUPENG, and PENGASSAN).

The meeting reviewed:

1. The current fuel scarcity and supply difficulties in the country.

2. The exorbitant prices being paid by Nigerians for the product. These prices range on the average from N150 to N250 per litre currently.

3. The meeting also noted that the main reason for the current problem is the inability of importers of petroleum products to source foreign exchange at the official rate due to the massive decline of foreign exchange earnings of the federal government. As a result, private marketers have been unable to meet their approximate 50% portion of total national supply of PMS.

Confab delegates reject fuel subsidy removal

There was uproar on Tuesday at the ongoing national conference in Abuja as delegates finally rejected the recommendation of the Confab Committee on Public Finance and Revenue for the total removal of the fuel subsidy by the Federal Government.

The Committee chaired by a former Governor of Nasarawa State, Adamu Aliero, had recommended a total removal of subsidy on petroleum products, arguing that this has been a major financial burden on the nation.

The recommendation had generated heated debate at the plenary and created sharp division among the delegates who accused one another of vested interests.