NUPENG Tanker Drivers to begin indefinite strike from Monday, Sept 8 Union protests deployment of 4,000 CNG trucks, fearing job displacement Strike may disrupt nationwide fuel supply if unresolved The Petroleum Tanker Drivers (PTD) branch of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has declared an indefinite nationwide strike starting Monday, September … Read more
Dangote Refinery reduces PMS price to N899.50 per litre. Price cut aims to ease transport costs during holidays. Consumers can buy extra litre on credit with bank guarantee. Dangote Petroleum Refinery has announced a reduction in the price of its Premium Motor Spirit (PMS) to N899.50 per litre, effective immediately. The announcement was made in … Read more
The Senate has approved the 2024–2026 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for implementation by the Federal Government. EKO HOT BLOG reports that the approval followed the presentation of a report by the Chairman of the Joint Committees on Finance, and National Planning & Economic Affairs, Senator Mohammed Sani Musa (Niger East). … Read more
The Nigerian National Petroleum Company Limited (NNPCL) has confirmed that it has not yet commenced bulk sales of petroleum products to marketers from its Port Harcourt Refining Company (PHRC). Currently, the company is selling products sourced from the Dangote Refinery at its retail stations. EDITOR’S PICKS Japa: Russia Opens Doors to Migrants Amid Workforce Shortage … Read more
Aliko Dangote, President of Dangote Refinery, has assured that fuel queues across Nigeria will disappear once oil marketers start sourcing fuel from his refinery. Speaking to State House Correspondents after a meeting with President Bola Ahmed Tinubu, Dangote stated that his refinery holds the solution to the country’s persistent fuel queues. He urged the Nigerian … Read more
The federal government assures financing the new ₦70,000 minimum wage will be feasible, with plans to increase crude oil output to 2 million barrels per day. EKO HOT BLOG reports that the federal government has assured there will be no difficulties in financing the new ₦70,000 minimum wage signed into law by President Bola Tinubu. The … Read more
Kaduna Refinery undergoing renovation, set to resume production. Managing Director aims for 60% capacity by December 31st, 202. Senate oversight visit part of efforts to revive all national refineries. EKO HOT BLOG reports that the Nigerian National Petroleum Company Limited (NNPCL) has said the Kaduna Refining and Petrochemicals Company (KRPC) will resume production after the completion … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Company Limited (NNPCL) has crashed the depot price of Premium Motor Spirit (PMS), popularly known as petrol, from N640 per litre to N630 per litre. The NNPCL has also disclosed plans to sell directly to independent marketers instead of first taking it to private depots so … Read more
EKO HOT BLOG reports that the Supreme Court has affirmed the five-year jail term handed to a former member of the House of Representatives, Farouk Lawan by the Court of Appeal. Lawan was convicted and sentenced to prison in 2021 for accepting $500,000 bribe from businessman, Femi Otedola, Chairman, Zenon Petroleum and Gas Ltd. EDITOR’S PICKS … Read more
Eko Hot Blog reports that President Bola Ahmed Tinubu has once more suggested that several local refineries are poised to commence the production of petroleum products. It’s worth remembering that shortly after assuming office, the President announced that the Port Harcourt refinery would recommence operations by December 2023. During the 11th Convocation ceremony of the … Read more
EKO HOT BLOG reports that the National President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo, on Friday, insisted that President Bola Tinubu-led government is still paying subsidy on petroleum. Osifo, who is also the president of the Trade Union Congress (TUC), made this claim during an interview on … Read more
EKO HOT BLOG reports that the organised labour unions (Nigeria Labour Congress and Trade Union Congress) have insisted on embarking on strike on the 3rd of October, 2023. Ahead of the proposed strike, Nigerians may have to brace for fuel scarcity and nationwide blackout from Tuesday. EDITOR’S PICKS Victor Osimhen To Sue Napoli Over Mockery … Read more
Eko Hot Blog reports that the Federal Government has reiterated its commitment to ending petroleum product importation soon, as efforts are being redoubled to restore the nation’s local refining capacity. This was made known by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, during an inspection tour of the rehabilitation work progress … Read more
Buhari has commissioned a 14-man committee to find a lasting solution to the country’s fuel scarcity. The committee would be chaired by Buhari himself and co-chaired by the Minister of State for Petroleum Resources. According to Egua, the committee has the mandate to among other things ensure a transparent and efficient supply of petroleum. EKO … Read more
The Petroleum Tanker Drivers branch of the Nigeria Union of Petroleum and Natural Gas workers (NUPENG) on Wednesday threatened to begin a sudden nationwide strike to protest the failure of the Federal Government to fix 21 selected highways based on agreement reached by stakeholders. Also, the drivers, under the endorsement of NUPENG, stated that they … Read more
Buhari has made new appointments in NNPC. EKO HOT BLOG reports that President Muhammadu Buhari has appointed the Board and Management of the Nigerian National Petroleum Company Limited, A statement by Femi Adesina, Special Adviser to the President on Media and Publicity on Wednesday, Buhari said the appointments is in accordance with the power vested … Read more
The Petroleum Tanker Drivers (PTD) branch of the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) has resolved to begin strike on October 8 if the Federal Government fails to meet their three demands. The National Chairman of the Union, Otunba Salman Oladiti made this disclosure exclusively on Monday. Otunba Oladiti stated that the … Read more
Residents have been feared dead while vehicles were razed as an explosion rocked Rivers State on Tuesday. EKOHOTBLOG reports that no fewer than two people have been confirmed dead following a Petroleum tanker explosion in Omerelu in Ikwerre Local Government Area of Rivers State. It was gathered that several buildings around the area … Read more
The Federal Government should hands off the importation of refined petroleum products into Nigeria and should concentrate on getting the country’s refineries functional, oil marketers have said According to oil dealers, the downstream oil sector in Nigeria has not yet witnessed proper deregulation going by the fact that the government through the Nigerian National Petroleum … Read more
The Minister of State for Petroleum Resources, Timipre Sylva, has debunked the claims that the Federal government once promised to reduce the price of Premium Motor Spirit (petrol) to a static low price. Sylva also said the government had concluded that it could no longer bear the burden of petrol subsidy. This was contained in … Read more