OIL & GAS
PENGASSAN seeks stiffer sanctions on Forte Oil, Aiteo, others over anti-labour actions
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGANSSAN) has condemned what it described as the lingering anti-labour practices perpetrated by some indigenous oil companies operating in the country against their employees, especially Nigerian workers.https://www.dailytrust.com.ng/pengassan-seeks-stiffer-sanctions-on-forte-oil-aiteo-others-over-anti-labour-actions.html
Why construction of Katsina refinery stalled
The proposed construction of a new refinery in Katsina state has failed to take off one year after agreement for the project was reached between Nigeria and Republic of Niger, Daily Trust reports.https://www.dailytrust.com.ng/why-construction-of-katsina-refinery-stalled.html
The downstream sector of the Nigerian oil and gas industry is in desperate need of reform as unresolved challenges continue to dampen private sector players’ appetite to invest furtherhttps://punchng.com/growing-calls-for-reform-of-downstream-oil-sector/
Nigeria’s crude gets best offer since 2014
The Nigerian crude market remained strong on yesterday, with sellers feeling confident enough to offer Bonny Light and Qua Iboe around their highest in over four years, while Angola continued to trade at a brisk clip. https://guardian.ng/news/nigerias-crude-gets-best-offer-since-2014/
Oil prices dip on worries fuel demand to stall as global growth slows
Oil prices declined on Thursday on lingering concerns that slowing global economic growth may limit fuel demand and after a surprise build in U.S. crude inventories.https://www.vanguardngr.com/2019/01/oil-prices-dip-on-worries-fuel-demand-to-stall-as-global-growth-slows/
Oil prices stabilise at $61.58/b over by OPEC production cut
Oil prices stabilised yesterday at $61.58 per barrel up 8 cents after falling in the previous trading session, when markets were dragged down by growing concerns about possible economic slowdown. https://www.vanguardngr.com/2019/01/oil-prices-stabilise-at-61-58-b-over-by-opec-production-cut/
FG Orders IOCs to Pay Outstanding Oil Revenues on PSCs
The federal government has given International Oil Companies (IOCs) operating in Nigeria’s deep offshore and inland basin a 14-day ultimatum to pay all outstanding revenues on Production Sharing Contracts (PSCs) https://www.thisdaylive.com/index.php/2019/01/24/fg-orders-iocs-to-pay-outstanding-oil-revenues-on-pscs/
Emmanuel Promises to Facilitate Oil Exploration in A’Ibom Community
In a bid to ensure that the resources generated in Akwa Ibom State are used to their full potential, Governor Udom Emmanuel has promised to facilitate the speedy exploration of crude oil deposits discovered in Uruan Local Government Area of the state if re-elected into office. https://www.thisdaylive.com/index.php/2019/01/24/emmanuel-promises-to-facilitate-oil-exploration-in-aibom-community/
NCDMB, PETAN canvass better collaboration in oil, gas
Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has called for better collaboration among players in the Nigerian oil and gas industry.
Only 12 states are funding workers’ pension accounts – PenCom
Only 12 states among those that have enacted the Contributory Pension Scheme laws have been funding the pension accounts of their workers as of the end of June 2018. https://punchng.com/only-12-states-are-funding-workers-pension-accounts-pencom/
Nigerian economic confidence at 12-month low — Report
The Association of Chartered Certified Accountants and Institute of Management Accountants have said in their report on Global Economic Conditions that Nigeria faces its lowest economic confidence scores in a year, after a fall in the final quarter of 2018. https://punchng.com/nigerian-economic-confidence-at-12-month-low-report/
8.41m Nigerians contributing to pension scheme —PenCom report
The National Pension Commission says about 8.41 million Nigerians are presently contributing to the country’s pension scheme. https://punchng.com/8-41m-nigerians-contributing-to-pencom-report/
VAT will be increased in 2019, says finance minister as FG introduces new revenue initiative
The Federal Government on Wednesday introduced the Strategic Revenue Growth Initiative to generate more revenues to finance national development. https://punchng.com/vat-will-be-increased-in-2019-says-finance-minister-as-fg-introduces-new-revenue-initiative/
Minimum wage not enough to live on —NLC president
President of the Nigeria Labour Congress, Ayuba Wabba, has lamented that minimum wage can barely provide basic necessities of life for workers in many parts of the world, noting that one per cent of the world population now controls half of the global wealth. https://punchng.com/minimum-wage-not-enough-to-live-on-nlc-president/
NLC faults fragmented minimum wage for federal, state workers
The Nigeria Labour Congress said the minimum wage of N27, 000 and N30, 000 approved for state and federal workers was a fragmentation of the wage and therefore, unacceptable.
Minimum Wage: Buhari transmits bill to National Assembly
President Muhammadu Buhari has transmitted a bill for the amendment of the country’s minimum wage law to the National Assembly.
National Minimum Wage Bill Passes First Reading in Senate
The National Minimum Wage Bill 2019 sent to the National Assembly on Wednesday by President Muhammadu Buhari on Thursday passed the first reading in the Senate.
ASUU-FG crisis and university education’s slow death
Nigeria’s education is crumbling. Some even say it has crumbled. University teachers are distraught but in no mood for any compromise after years of broken promises by successive governments. https://guardian.ng/features/education/asuu-fg-crisis-and-university-educations-slow-death/
FOBTOB tasks advisory panel on urgent implementation of new minimum wage
The national body of Food, Beverage and Tobacco Senior Staff Association (FOBTOB), has charged the newly inaugurated technical advisory committee on national minimum wage to ensure speedy implementation of the N30,000 for Nigerian workers.
Reps allegedly uncover conflicting figures in 2019 budget
The House of Representatives yesterday began debate on the general principles of the 2019 budget.At the plenary, presided over by Speaker Yakubu Dogara, the lawmakers allegedly discovered conflicting figures in the estimates of ministries, departments and agencies (MDAs).