NEWS REVIEW FOR WEDNESDAY, NOVEMBER 21, 2018
OIL & GAS
Stakeholders Want PEF Expunged from PIGB, Refineries Privatised
Some stakeholders in Nigeria’s oil industry have asked the National Assembly to expunge the Petroleum Equalisation Fund (PEF) from the recently legislated Petroleum Industry Governance Bill (PIGB).
As NNPC Returns to Loss-making Streak
The Nigerian National Petroleum Corporation may have returned to its old loss-making operation after the positive performance it recorded between February and July this year
Revealed: Govs championed 2012 fuel subsidy removal —Jonathan
Nearly six years after implementing a controversial fuel subsidy withdrawal which sparked a nationwide protest, former President Goodluck Jonathan has revealed that it was the 36 state governors who pushed him to remove the subsidy to provide more money for them.
Nigeria’s oil output drops, as rig count rises
Nigeria’s rig count — a standard yardstick used in measuring a nation’s activeness in exploration and production of crude oil and gas — for the month of October, 2018 increased to 34 from 33 recorded in the previous month, data from the Organisation of Petroleum Exporting Countries, OPEC, have showed.
FG earns N1.7trn oil revenue in 3 years
Nigeria may have earned about N1.68 trillion as revenue from oil between 2015 and 2017. The Department of Petroleum Resources, DPR, in its 2017 Nigerian Oil and Gas Industry Annual Report, stated that the revenue was realised from oil and gas royalty, gas flare penalty, concession rentals and miscellaneous oil revenue.
Oil price continues downward slide
THE price of crude oil has dropped further to $66.32 per barrel in the international market as a result of excess supply and speculation. It closed at $68.00 low last week.
MOMAN rules out strike option, says more firms under pressure
Major Oil Marketers Association of Nigeria has ruled out the option of going on strike in its quest for the payment of subsidy arrears owed its members.
Rewane queries Atiku’s plans to sell NNPC
The Chief Executive Officer (CEO) of Financial Derivatives Company, Bismarck Rewane, has asked the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, to tell Nigerians who he wants to sell the Nigerian National Petroleum Corporation (NNPC) to and how he intends to go about it.
Ex-Energia workers head to court over N2bn compensation as DPR negotiation fails
FORMER 37 workers of Energia Limited, a major indigenous oil and gas producing company, have headed to the Lagos High Court over N2 billion compensation as negotiation fails to yield result.
Govt should incentivise production of gas cylinders – NLPGA
The Nigeria Liquefied Petroleum Gas Association (NLPGA), has called on the Federal Government to incentivise the production of gas cylinders to deepen the penetration of LPG use in the country.
90 per cent of Nigerian homes lack LPG cylinders, reveals NLPGA
Over 90 per cent of Nigerian homes do not have Liquefied Petroleum Gas (LPG) cylinders, thus exposing them to health hazards characterising the use of dirty cooking fuels like kerosene, wood, among others.
Company inaugurates $500M LNG plant, seeks government support
In line with the Federal Government’s initiative on gas to power, Greenville, an oil and gas company has inaugurated its first phase of Liquefied Natural Gas (LNG) plant with a daily capacity of 2,250 tons in Rumuji, River State.
Petrocam opens seventh solar-powered filling station
Petrocam Trading Nigeria Limited, a player in the country’s downstream sub-sector, has unveiled its seventh solar-powered filling station in Lagos.
Minimum Wage: Our Situation is Precarious, Govs Tell Buhari
Representatives of Nigeria Governors’ Forum (NGF) yesterday met with President Muhammadu Buhari to discuss the lingering issue of national minimum wage, telling the president that states are too financially weak to pay the N30,000 recommended by the National Minimum Wage Committee.
Ndume Opposes Govs, Recommends N40,000 Minimum Wage
The senator representing Borno South senatorial district, Ali Ndume, has said the new minimum wage should be N40,000, instead of the proposed N30,000.
‘Slippery Floors Can Cause Permanent Disability, Death’
The Managing Director of No-Slips Limited, the sole distributor of Sure-step in Nigeria, Mr. Charles Igbinidu has stated that, more Nigerians are sustaining life threatening injuries and death as a result of slip and fall accidents.
We equally need upward review of our pensions, senior citizens beg FG
FOR Nigerian pensioners, it will be unfair for the government to approve a new minimum wage for workers, without doing same for retired workers who served the country meritoriously in different capacities.
National Mimimum Wage and peculiarities of the localities (1)
A few weeks ago, the organised labour announced its decision to call out workers on a nation wide strike to press home the need for an increase in the national minimum wage which as at today is fixed at N18,000 under Section 1 of the The National Minimum Wage Act Cap.
NLC wants conflict resolution mechanism to tackle killings
The Nigeria Labour Congress (NLC), has urged the Federal Government to set up conflict resolution mechanisms to resolve frequent clashes of conflicting interests.
Tackling unemployment through economic diversification
The claim that Nigeria is endowed with huge human and material resources is at variance with the rising acute unemployment, and under-employment challenges that confront the country.
Unions call for continuous training among workers
Trade Union leaders have called for continuous training among various unions to ensure workers’ power in workplace.
Labour threatens global intervention in national minimum wage struggle
As the controversy over the proposed N30,000 national wage lingers, the Nigeria Labour Congress (NLC) has threatened to involve global union and deploy lawful means in pressuring government to pay the sum agreed by the Amal Pepple-led
National Minimum Wage Tripartite Committee.