OIL & GAS

NNPC Insists on December Deadline to End Petrol Import

The Nigerian National Petroleum Corporation (NNPC) has indicated it will meet up with the December 2019 deadline proposed by the federal government to end the importation of refined petrol into Nigeria.https://www.thisdaylive.com/index.php/2019/01/08/nnpc-insists-on-december-deadline-to-end-petrol-import/

NNPC generates N383.969m revenue from WRPC, PHRC in 9 months

The Nigeria National Petroleum Corporation, NNPC, has generated a revenue of about N383.969 million from the Warri Refining and Petrochemical Company Limited, WRPC and Port-Harcourt Refining Company Limited, PHRC between January and September, 2018.
https://www.vanguardngr.com/2019/01/nnpc-generates-n383-969m-revenue-from-wrpc-phrc-in-9-months/

No provision for petrol subsidy in three years —PPPRA

The Petroleum Products Pricing Regulatory Agency on Monday declared that it was wrong to state that the Federal Government was paying subsidy on Premium Motor Spirit, popularly called petrol, as there was no provision for subsidy in the past three years.https://punchng.com/no-provision-for-petrol-subsidy-in-three-years-pppra/

Low oil price: Petrol should now be below N145/ litre – PPPRA

The Petroleum Products Pricing Regulatory Agency (PPPRA) said it has observed a downward trend in the Expected Open  Market   price   of petrol  to be below   the   government   approved   pump   price   of N145/litre due to the   recent   plunge   in   the  price  of  crude   oil   in   the international market.https://www.dailytrust.com.ng/low-oil-price-petrol-should-now-be-below-n145-litre-pppra.html

‘Deregulation, key to attracting petroleum downstream investments’

Total deregulation of the downstream sub-sector of the country’s petroleum industry will unlock the huge private investment potential and drive sustainable growth operation-wise.https://guardian.ng/business-services/deregulation-key-to-attracting-petroleum-downstream-investments/

 

 

Remove fuel subsidy now, NECA tells government

The Nigerian Employers’ Consultative Association (NECA) has urged the Federal Government to remove fuel subsidy, which has become a conduit pipe for the misappropriation of funds.https://guardian.ng/news/remove-fuel-subsidy-now-neca-tells-government/

DPR, others urge govt to tackle illegal refining

THE Federal Government has been tasked to stop the proliferation of illegal refineries in Nigeria, as they impact very negatively on the environment.
https://www.vanguardngr.com/2019/01/dpr-others-urge-govt-to-tackle-illegal-refining/

Nigeria’s rig count declines by 6, as OPEC’s reduces by 11

AT a time the oil cartel, the Organisation of Petroleum Exporting Countries, OPEC, embarked on an 800,000 barrels per day production cut for the next six months, with Nigeria contributing about 40,000 barrels, the country’s rig count took a nosedive by 6, as it recorded 28 in November as against 34 recorded in October, latest data from OPEC showed.
https://www.vanguardngr.com/2019/01/nigerias-rig-count-declines-by-6-as-opecs-reduces-by-11/

Fixing Nigeria’s Dilapidated Oil Pipelines

Chineme Okafor reviews a new report that revealed that Nigeria’s petroleum products pipelines are in a state of disrepair and need to be fixed or replacedThe outcome of a study commissioned by the Nigerian National Petroleum Corporation (NNPC) to determine the operational status of the country’s network of petroleum products pipeline it manages and how it can become commercially viable to the country was recently obtained by THISDAY.https://www.thisdaylive.com/index.php/2019/01/08/fixing-nigerias-dilapidated-oil-pipelines/

Nigeria imported N2.3trn fuel in 2018

Premium Motor Spirit (PMS) or petrol valued at N2.289 trillion was imported in the country in 2018, a report from the Nigeria Bureau of Statistics (NBS) said.https://www.dailytrust.com.ng/nigeria-imported-n2-3trn-fuel-in-2018.html

OPEC Cuts, Stable Equity Markets Push Oil Price to $58Crude oil prices climbed for a fifth session in a row to hit $58 yesterday, rallying from last December 2018’s 18-month low, thanks to the production cuts by the Organisation of Petroleum Exporting Countries (OPEC) and more stable equity markets.https://www.thisdaylive.com/index.php/2019/01/08/opec-cuts-stable-equity-markets-push-oil-price-to-58/

 

Moody’s: Oil Supply Faces Oversupply Risk

Oil and natural gas prices will be volatile in 2019, Moody’s Investors Service predicted in its annual report outlining key credit themes in oil and gas for 2019.

Militants blow up Conoil facility in Bayelsa

A Niger Delta militant group, known as the Koluama Seven Brothers, has blown up a crude oil pipeline owned by Conoil in Bayelsa State.https://punchng.com/militants-blow-up-conoil-facility-in-bayelsa/

Oil prices jump as China, US hope to settle trade war

Oil prices rose by more than 1.5 per cent on Monday on hopes that talks in Beijing can resolve a trade war between the United States and China, while supply cuts by major producers also supported crude.https://punchng.com/oil-prices-jump-as-china-us-hope-to-settle-trade-war/

OTHER NEWS

Casual workers should be paid 200% higher than permanent staff – CIPM

Staff abuse is rampant in Nigeria. Casual employees are kept for over the minimum six month-time frame allowed by law. There is also the case of poor remuneration by organisations. Most of these are human resource issues and some of your members are culprits. https://www.dailytrust.com.ng/casual-workers-should-be-paid-200-higher-than-permanent-staff-cipm.html

Minimum wage: NLC protest to hold as meeting with FG adjourned

The rescheduled meeting between the Federal Government and the Nigeria Labour Congress in Abuja on Monday was adjourned for the second time in three days as NLC holds nationwide protest today (Tuesday).https://punchng.com/minimum-wage-nlc-protest-to-hold-as-meeting-with-fg-adjourned/

NLC holds protest for new national minimum wage today

The Nigeria Labour Congress says it is set to hold a nationwide protest on Tuesday over the delay in transmitting the recommendations of the Tripartite Committee on a new National Minimum Wage to the National Assembly.https://punchng.com/nlc-holds-protest-for-new-national-minimum-wage-today/https://www.thisdaylive.com/index.php/2019/01/08/workers-protest-over-minimum-wage-begins-today/

 

 

No new minimum wage, no vote, Labour tells FG

Nigeria Labour Congress (NLC) on Monday threatened to boycott the 2019 general election should the Nigerian government fail to activate a new minimum wage.https://guardian.ng/news/no-new-minimum-wage-no-vote-labour-tells-fg/

Prioritising workers’ welfare in 2019

Undoubtedly the out gone year was a turbulent one for the Nigerian workers, as the struggle to increase the minimum wage to N30,000 from the present N18,000 is still on-going.https://guardian.ng/appointments/c29-appointments/prioritising-workers-welfare-in-2019/

Nigeria, UNDP sign MoU on youth employment

The Federal Government has signed a Memorandum of Understanding (MoU), with the United Nations Development Programme (UNDP), for the engagement of young Nigerian professionals in the UN agency.https://guardian.ng/appointments/nigeria-undp-sign-mou-on-youth-employment/

2019: FG to spend N1.02bn on unemployment survey, others

The Federal Government is planning to spend about N1.02bn to conduct twelve economic surveys through the National Bureau of Statistics in the 2019 fiscal period.https://punchng.com/2019-fg-to-spend-n1-02bn-on-unemployment-survey-others/

Pension: Tapping into annuity benefits

Nigeria has not had it rosy in the area of appropriate retirement plans for its citizens.https://www.dailytrust.com.ng/pension-tapping-into-annuity-benefits.html

‘Buhari, not ASUU should have mercy on varsity students’

The Academic Staff Union of Universities on Monday begged President Muhammadu Buhari to show mercy on helpless students currently bearing the brunt of the ongoing strike.https://punchng.com/buhari-not-asuu-should-have-mercy-on-varsity-students/

FG, ASUU May Reach Final Deal Thursday

The federal government and the leadership of the Academic Staff Union of Universities (ASUU) yesterday made progress in their negotiations to end the over one- month industrial action by university lecturers, which has crippled academic activities in public tertiary institutions.https://www.thisdaylive.com/index.php/2019/01/08/fg-asuu-may-reach-final-deal-thursday/

 

We want varsities to re-open by weekend, says FG

The President of the Academic Staff Union of Universities, Prof. Biodun Ogunyemi, said the eight-week old strike embarked upon by the union would continue until an agreement was reached by the members on government proposals concerning their demands.https://punchng.com/we-want-varsities-to-re-open-by-weekend-says-fg/

Stabilize macroeconomic activities in 2019, former MAN chairman urges FG

Mr Wale Adegbite, a former Chairman of Manufacturers Association of Nigeria in Ogun State, has advised the Federal Government to redouble efforts in ensuring the stability of the macroeconomic sector to guarantee overall growth of the economy in 2019.https://punchng.com/stabilize-macroeconomic-activities-in-2019-former-man-chairman-urges-fg/

Minimum wage: Nationwide strike can start anytime without notice

AHEAD of a nationwide strike over the Federal Government’s refusal to send a draft bill on N30,000 National Minimum Wage to the National Assembly to legislate into law, organised labour and its civil society allies are, today, holding a nationwide mobilisation and mass protest to force government into action.
https://www.vanguardngr.com/2019/01/minimum-wage-nationwide-strike-can-start-anytime-without-notice/

Nigeria lost $2.8bn in revenue in 2018 — report

The United Nations say Nigeria lost an estimated 2.8 billion dollars in revenues in 2018, mainly due to oil-related crimes. This is according to a new ‘Report by the Secretary-General on the activities of the United Nations Office for West Africa and the Sahel (UNOWAS)’ on Monday in New York.
https://www.vanguardngr.com/2019/01/nigeria-lost-2-8bn-in-revenue-in-2018-report/

World Bank president to step down February 1

World Bank Group President, Jim Yong Kim, on Monday,  announced that he would be stepping down from his position after more than six years in which the institution’s shareholders provided strong support to multiple initiatives to ensure that the Bank Group retained strong leadership in the world of global development.https://punchng.com/world-bank-president-to-step-down-february-1/