Author: Vardiafrica

The Independent Petroleum Marketers Association Of Nigeria (IPMAN) has attributed the recent adjustment in the price of premium motor spirit better known as fuel to the impacts of the deregulation of the sector.  “Well, we know now that we cannot call it an increase but rather we can call the removal of subsidy deregulation. Now, deregulation has started taking place fully,” IPMAN president Abubakar Garima said on Thursday when he was featured as a guest on Channels Television’s breakfast show Sunrise Daily. Retail outlets of the Nigeria National Petroleum Company Limited (NNPCL) had adjusted the cost of the product in Lagos…

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) says the recent hike in the pump price of petroleum may be due to an increase in the “difficulty in landing products”. In an interview with Channels TV on Thursday October 10, PETROAN president Billy Gillis-Harris, said; “What I can tell you is, once there is difficulty in landing products by NNPCL and the size of shock absorbing that they (NNPCL) can do become overwhelming, they will certainly shed some of the loads. I think that’s what would have happened.” On Wednesday, retail outlets of the Nigerian National Petroleum Company…

The Federal Government has said it is not responsible for the hike in the pump price of petrol. On Wednesday, the Nigerian National Petroleum Company Limited (NNPCL) raised the pump price of fuel from N897 per litre to N1, 030 in Abuja; from N855 to N998 in Lagos; N1, 070 in North-East; N1,025 in other South-West states; N1,045 in South-East and N1,075 in South-South. This had triggered reactions among Nigerians who asked President Bola Tinubu to work towards reversing the increment. But in a chat with Daily Trust, Minister of Information and National Orientation, Mohammed Idris, said the government should…

The Federal government has announced the commencement of zero Value Added Tax (VAT) on pharmaceutical products and medical devices in a bid to reduce drug prices in the country. In a statement signed by the Head of Information in the Federal Ministry of Health, Alaba. R. Balogun, noted that the Executive Order on harmonised implementation framework has been cleared to be gazetted. Furthermore, the Ministry noted that following the completion of the process, the Federal Inland Revenue Service (FIRS) and Nigeria Customs Service (NCS) can now begin implementing zero VAT and excise duties on pharmaceutical products and medical devices. It…

The federal government has introduced a new website that allows users to convert their petrol-powered vehicles to compressed natural gas (CNG) and opt for a pay-later option for the conversion costs. This is contained in a statement by the National Orientation Agency (NOA) via its official X handle on Tuesday. According to the statement, the payment options let drivers convert their vehicles now and pay later through affordable monthly instalments at competitive rate “Switching to Compressed Natural Gas (CNG) is now more accessible than ever. With flexible payment plans tailored to fit your budget, transitioning from petrol to CNG has…

The Minister of State Petroleum Resources (Oil), Heineken Lokpobiri has said he did not direct the Nigerian National Petroleum Company Limited (NNPCL), to stop running its refineries. The clarification came following reports that Engr. Kamoru Busari, Director of Upstream in the Ministry of Petroleum Resources, who represented him at an event in Lagos, said that he directed the company to focus on equity participation in other refineries. However, the minister stated: “My attention has been drawn to statements made by Engr. Kamoru Busari, Director of Upstream in the Ministry of Petroleum Resources, who represented me at a recent conference in…

Nyesom Wike, minister of the federal capital territory (FCT), says Siminalayi Fubara, governor of Rivers, is the “architect” of the violence in the state. In an interview with Channels Television on Tuesday, Wike attributed the violence in Rivers state to the governor’s failure to obey the rule of law and court judgment. The FCT minister said Fubara dismissed the judgment of the federal high court in Abuja that restrained the police and other security agencies from participating in the October 5 Rivers LGA elections. “When I was governor, I always obeyed the rule of law. You heard the governor said,…

Nairobi: Kenyan lawmakers on Tuesday voted to impeach Deputy President Rigathi Gachagua for abuse of office in an unprecedented Political drama that has transfixed the nation. The impeachment motion accused the 59-year-old deputy to President William Ruto of corruption, insubordination, undermining the government and practising ethnically divisive politics, among a host of other charges. In a historic move, the motion — the culmination of months of open conflict between Gachagua and his boss — was approved by 281 MPs in the 349-member National Assembly, more than the two-thirds required. There were 44 votes against and one abstention, according to parliament speaker Moses Wetangula. The…

The Head of Civil Service of the Federation, Didi Walson-Jack, has reintroduced the civil service anthem for workers in the Federal Civil Service. Speaking during a parley with newsmen in Abuja, as detailed in a transcript made public on Tuesday, Walson-Jack explained that the anthem is part of the reforms to be introduced into the service to enhance creativity and innovation. PauseUnmute Loaded: 0%Fullscreen According to her, the anthem will be sung by all civil and public servants. She added that the reforms are in line with the Renewed Hope Agenda of President Bola Tinubu, and she looks forward to what can be achieved…

The federal government has announced the approval of Dangote Refinery as the sole supplier of jet fuel, also known as Jet A1, for Nigeria’s airline operators. This information was revealed by the Minister of Aviation, Festus Keyamo, during an interview with Channels TV, which aired on Tuesday. Keyamo stated that the airline operators, with his approval and support, agreed to allow the 650,000 bpd refinery to be the exclusive provider of jet fuel to the operators. He explained that the timing is ideal, as the federal government recently implemented the naira-for-crude agreement with Dangote. He emphasized that this arrangement would…