NEWS REVIEW FOR MONDAY, JANUARY 8, 2017 Oil & Gas Fuel scarcity: NNPC to fix refineries in 18 months — C’ttee report To address the current scarcity of fuel across the country, stakeholders weekend, recommended among others, for more participation of private sector in the importation of product and the involvement of all security agencies and Department of Petroleum Resources, DPR, in the monitoring of products distribution to check smuggling. https://www.vanguardngr.com/2018/01/fuel-scarcity-nnpc-fix-refineries-18-months-cttee-report/  

Marketers give conditions for selling petrol at N145

The cost of petrol in the pricing template that is currently being reviewed will be determined by the rate of foreign exchange, oil marketers have said. http://punchng.com/marketers-give-conditions-to-sell-petrol-at-n145/  

Resist another petrol price increase, Aremu urges Nigerians

A member of the National Executive Council of the Nigeria Labour Congress, Mr. Issa Aremu, has urged Nigerians to resist any increase in the price of Premium Motor Spirit, popularly called petrol. http://punchng.com/resist-another-petrol-price-increase-aremu-urges-nigerians/  

Nigeria imports dirty fuel one year after ban

One year after the Federal Government banned the importation of dirty fuels into the country as part of efforts to curb the environmental impact of vehicle emissions, the country has yet to enforce the ban. http://punchng.com/nigeria-imports-dirty-fuel-one-year-after-ban/  

Fuel scarcity: Senate invites PPPRA, Customs, NPA, others

The Senate has extended its investigation into the lingering scarcity of Premium Motor Spirit (also known as petrol) to more Federal Government agencies and parastatals. http://punchng.com/fuel-scarcity-senate-invites-pppra-customs-npa-others/   Scarcity: NUPENG demands fixing of nation’s refineries The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) on Monday called for the rehabilitation of the nation’s refineries to end the recurring scarcity of petrol in the country. https://www.vanguardngr.com/2018/01/scarcity-nupeng-demands-fixing-nations-refineries/ https://guardian.ng/news/fix-nigerias-refineries-now-nupeng-urge-nnpc/   Fuel Scarcity: Nigerians commend Osinbajo for selfless leadership Nigerians have commended Vice President Yemi Osinbajo, SAN, for his selfless leadership during the fuel crisis at Christmas period. https://www.vanguardngr.com/2018/01/fuel-scarcity-nigerians-commend-osinbajo-selfless-leadership/   Ex-CBN director urges FG to repair refineries Dr Titus Okunronmu, a former Director, Budgetary Department, Central Bank of Nigeria (CBN), on Monday, advised the Federal Government to repair all the four refineries in the country. https://www.vanguardngr.com/2018/01/ex-cbn-director-urges-fg-repair-refineries/  

Only one out of nine storage facilities functional at Ejigbo Depot, says IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has decried the situation whereby only one storage tank out of nine installed at the Ejigbo Depot was working. https://guardian.ng/news/only-one-out-of-nine-storage-facilities-functional-at-ejigbo-depot-says-ipman/   No intension, whatsoever, to increase petrol pump price, NNPC reiterates For the umpteenth time, the Nigerian National Petroleum Corporation (NNPC) has denied it has a plan to execute an increase in petrol price. https://www.vanguardngr.com/2018/01/no-intension-whatsoever-increase-petrol-pump-price-nnpc-reiterates/  

NNPC posts N68.84bn loss in 10 months

The Nigerian National Petroleum Corporation posted a group operating loss of N68.84bn between January and October 2017. http://punchng.com/nnpc-posts-n68-84bn-loss-in-10-months/  

OPEC oil cut adherence rises – Survey

OPEC deepened compliance with an oil supply-cutting deal in December due to a further decline in Venezuelan output and extra cuts by Gulf exporters, a Reuters survey found, showing strong commitment to the deal despite higher prices. https://www.dailytrust.com.ng/opec-oil-cut-adherence-rises-survey.html  

Cooking gas: NLNG advocates infrastructure development

The Nigeria Liquefied Natural Gas has sought the development of infrastructure to support the efficient distribution and usage of domestic LPG, known as cooking gas, in the country. http://punchng.com/cooking-gas-nlng-advocates-infrastructure-development/  

$1.1bn Malabu scam: Six months after, Jonathan ignores Reps invitation

Over six months after he was invited to testify in the investigations into the controversial sale of Oil Prospecting Licence 245, former President Goodluck Jonathan has yet to reply the House of Representatives, findings by The P http://punchng.com/1-1bn-malabu-scam-six-months-after-jonathan-ignores-reps-invitation/   Fuel crisis: Buhari, APC wrecking Nigerian economy – PDP The Peoples Democratic Party (PDP) has said the inability of the President Muhammadu Buhari-led Ministry of Petroleum Resources to find viable solution to the incessant fuel crisis in the country has wrecked the nation’s economy. https://www.vanguardngr.com/2018/01/fuel-crisis-buhari-apc-wrecking-nigerian-economy-pdp/ https://www.vanguardngr.com/2018/01/peace-in-niger-delta-now-fetching-nigeria-122-4m-daily-gen-boroh/  

Nigeria loses N490billion to production shut-in

Nigeria may have lost about N490.11billion to various production shut-ins due to pipeline leaks and vandalism in the Niger Delta between September and October 2017. https://guardian.ng/business-services/nigeria-loses-n490billion-to-production-shut-in/  

1 week after fire: NNPC restores Escravos-Lagos pipeline, resumes gas supply

The Escravos-Lagos Pipeline (ELP) shut down last week  after a fire, has been restored and gas supply to customers on the line including power generating companies resumed. https://www.dailytrust.com.ng/1-week-after-fire-nnpc-restores-escravos-lagos-pipeline-resumes-gas-supply.html  

34 ships laden with petroleum products, food items, to arrive Lagos ports

Thirty four ships laden with petroleum products, food items and other goods are expected to arrive Apapa and Tin Can Island Ports in Lagos from Jan. 8 to Jan. 30. https://www.dailytrust.com.ng/34-ships-laden-with-petroleum-products-food-items-to-arrive-lagos-ports.html  

NIPCO upbeat on 2018 operations

Amidst the current fuel crisis in the country NIPCO has offered some soothing words to stakeholders, promising “market friendly rates” for all petroleum products from its depot in 2018. https://www.dailytrust.com.ng/nipco-upbeat-on-2018-operations.html   Other News

New minimum wage ready this year, says Ngige

The Minister of Labour and Employment, Dr. Chris Ngige, has said President Muhammadu Buhari is desirous to give Nigerian workers an enhanced pay package this year. http://punchng.com/new-minimum-wage-ready-this-year-says-ngige/  

Nigerian banks stop ATM cash withdrawal abroad

A number of Deposit Money Banks in the country have barred their customers from using debit and credit cards to withdraw dollars, euros, pounds and other foreign currencies whenever they travel abroad, investigation by our correspondent has revealed. http://punchng.com/nigerian-banks-stop-atm-cash-withdrawal-abroad/  

CPS: PenCom may allow contributors to change PFAs

The National Pension Commission is working on how to open a transfer window that will enable workers with Retirement Savings Accounts under the Contributory Pension Scheme to change their Pension Fund Administrators. http://punchng.com/cps-pencom-may-allow-contributors-to-change-pfas/  

Unemployment fear grows as more Nigerians lose jobs

In this piece, IFEANYI ONUBA examines the unemployment crisis facing the country and what the government needs to do in order to reposition the economy on the path of sustainable growth http://punchng.com/unemployment-fear-grows-as-more-nigerians-lose-jobs/  

Kogi dismisses 1,774 workers, sacks eight perm secs

The Kogi State Government on Sunday confirmed the retirement of eight permanent secretaries, some directors and the dismissal of 1,774 employees from the state civil service. http://punchng.com/kogi-dismisses-1774-workers-sacks-eight-perm-secs/   National Bureau of Statistics to release 179 reports on economy The National Bureau of Statistics (NBS) is to release no fewer than 179 reports on different sectors of the economy this year. https://www.vanguardngr.com/2018/01/national-bureau-statistics-release-179-reports-economy/   New Minimum Wage’ll be binding on states – Ngige DESPITE the apprehension by many state governments over the new minimum wage, the Minister of Labour and Employment, Dr. Chris Ngige has said that the new minimum wage, which is already in the works, would be binding on all the states of the federation and the federal capital territory when it is eventually approved. https://www.vanguardngr.com/2018/01/new-minimum-wagell-binding-states-ngige/   FG to reduce poverty to barest minimum – says Sen. Wakili Sen. Ali Wakili, Chairman Senate Committee on Poverty Alleviation and Social Welfare said on Sunday that the Federal Government was trying its best to reduce poverty level in the country. https://www.vanguardngr.com/2018/01/fg-reduce-poverty-barest-minimum-says-sen-wakili/  

Kaduna teachers begin indefinite strike

Teachers in public secondary and primary schools in Kaduna State on Monday began an indefinite strike action over job security and welfare issues. https://guardian.ng/news/kaduna-teachers-begin-indefinite-strike/  

NBS to release 179 reports on economy

The National Bureau of Statistics (NBS) is to release no fewer than 179 reports on different sectors of the economy this year. https://guardian.ng/business-services/nbs-to-release-179-reports-on-economy/   This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system