Saudi Arabia and United Arab Emirates (UAE) have set aside about $13 billion to protect poor families from the ripple effects of high food prices. The two biggest Gulf economies will use the fund to stockpile essential commodities as well as distribute direct cash transfers to support social security beneficiaries, according to reports. Since […]
It is regrettable that Nigeria’s petroleum refineries are not working and the possibility of introducing subsidies on Automotive Gas Oil, also known as diesel, is unlikely, the Federal Government has said. The Chief Executive Officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, who made this known in Abuja on Tuesday […]
As the struggle to get Premium Motor Spirit (PMS) otherwise called petrol mounts, it has been estimated that Nigerians guzzled 2,020,248,000 litres of the product and spent at least N333.34 billion at official retail pump price on it in one month. Observers have, however, queried the figures. This week, petrol scarcity was more pronounced […]
Bread producers and caterers on Friday threatened to withdraw their services nationwide due to the unprecedented increase in bakery materials and the neglect of the Federal Government to this matter. In a communiqué issued by their national body – Association of Master Bakers and Caterer of Nigeria, they stated that the cost of flour, […]
Some members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) in the South-East say they will no longer guarantee the supply of products at the approved pump prices. The marketers spoke in separate interviews with the News Agency of Nigeria (NAN) in Awka on Thursday. They said that they could not sustain the […]
The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Wednesday said its members would continue to sell fuel at the Federal Government approved price of N165 per litre. This represents a reversal of its earlier directive to its members to sell petrol at N180 per litre. The Lagos chapter of IPMAN through its secretary, […]
The Independent Petroleum Marketers Association of Nigeria (IPMAN) says its members can no longer sell premium motor spirit (PMS) at the regulated price due to a “hostile” business environment. Through petrol subsidy, the government fixed the price of petrol for consumers below the international price. Last week, the southwest zone of IPMAN threatened to […]
Investors lost N767bn at the end of trading on the floor of the Nigerian Exchange Limited last week. The market opened for four trading days last week as the Federal Government declared Monday as a public holiday to commemorate the 2022 Democracy Day celebration. The NGX All-Share Index and market capitalisation of equities listed […]
ANAMBRA State governor, Professor Chukwuma Soludo has finally taken the bold step that would see the popular drug market from head bridge, Onitsha to Oba in Idemili South local government area. There had been several attempts by previous administrations in the state to relocate the market considered to be one of the biggest in the […]
Queues for petrol have resurfaced in Lagos as motorists throng filling stations to fill up their tanks. The new development is coming days after scarcity surfaced in Ibadan, Oyo state capital. In February, Nigeria experienced petrol scarcity — lasting for over one month — caused by the recall of off-spec petrol in circulation. On […]
