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June 25, 2024 NMDPRA Responds to “Dirty Fuel” Controversy

NMDPRA Responds to “Dirty Fuel” Controversy

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said that it take seriously its responsibility to monitor and regulate the mid and downstream sector of the petroleum industry in the country.

 This comes on the heels of some meaning Nigerians expressing concerns that some major oil marketers are importing dirty fuel into the country.

 Similarly, the  Vice President of Oil and Gas at Dangote Industries Limited, DEVAKUMAR EDWIN had on Sunday, accused the NMDPRA of granting licences indiscriminately to marketers, stating this has prompted import of unfit products into the country.

The NMDPRA’s Executive Director, Distribution Systems, Storage and Retailing Infrastructure, Mr. OGBUGO UKOHA said the sulfur content of products being imported into the country is well below the 50 Parts Per Million (PPM) regulatory allowance.

 He said the Authority strictly monitor compliance with the PPM by all importers and refiners. He however, called on Nigerians not to panic as the products in the market are safe for consumption.

June 24, 2024 Federal Workers Appeal to Tinubu For Payment of Wage Award

Federal Workers Appeal to Tinubu For Payment of Wage Award

 Federal workers, under the auspices of the Federal Workers Forum – FWF, have urged the federal government, led by President BOLA TINUBU to pay their outstanding three-month wage awards.

The federal workers made this declaration during an online meeting, appealing to the government to pay the wage awards for March, April, and May.

According to reports, the federal government introduced a wage award for workers after the subsidy was removed from Premium Motor Spirit (PMS).

In a communiqué issued at the end of the meeting, the workers emphasized that they are not slaves.

The communiqué, made available through the National Coordinator, Comrade ANDREW EMELIEZE stated that despite repeated requests to the federal government to resume the payments; all efforts have fallen on deaf ears.

June 24, 2024 Federal Government Revamps National Gold Purchase Programme

Federal Government Revamps National Gold Purchase Programme

The Federal Government has revamped the National Gold Purchase programme, in a bid to improve the country’s reserves and boost the value of the Naira.

This policy came to the fore when the Minister of Solid Minerals Development, DELE ALAKE presented the latest gold bar sourced from artisanal and small gold miners and refined by an agency of the Ministry to President BOLA TINUBU in Abuja.

ALAKE lauded the President for supporting reforms in the solid minerals sector, assuring that the sector will in no distant time boost the nation’s reserves.

June 21, 2024 Debt Management Office Pegs Nigeria’s Debt Stock at N121Trn

Debt Management Office Pegs Nigeria’s Debt Stock at N121Trn

The Debt Management Office has disclosed Nigeria’s total debt stock has risen by 24.33 Trillion Naira in the first quarter of 2023 to 121.67 Trillion Naira from 97.34 Trillion Naira of December 2023.

The office in a statement on Thursday disclosed that the total public debt comprises of debt from the total domestic and external debts of the Federal Government, the thirty-six state governments, and the Federal Capital Territory (FCT).

It highlighted that excluding naira exchange rate movements in the first quarter of 2024, only the domestic debt component of total public debt grew from 59.12 Trillion Nairaon December 31st 2023, to 65.65 Trillion Naira on March 31st, 2024.

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