President Tinubu Mulls Over Temporary Subsidy on Petrol

President Ahmed Tinubu is reportedly contemplating a temporary subsidy on Premium Motor Spirit (PMS) popularly known as petrol. Presidency source revealed that the plans on reintroducing fuel subsidy is not yet finalized, but the proposal is "firmly on the table" of Tinubu. This is a result of the increase in landing cost as crude oil prices and foreign exchange rate continues to surge. The move came after months of anti-government violent protests over the burden of the high cost of living.

DSS Quiz Ogun SSG Over Ballot Paper Printing, Covid-19 Fund

The Department of State Services has invited and interrogated the Secretary to Ogun State Government, Tokunbo Talabi, over recent allegations of fraud leveled against him and Covid-19 palliative controversy. Talabi was reportedly grilled for about five hours on Friday but was released on self-recognition at the Ogun State Command Headquarters of the DSS, Oke-Mosan, Abeokuta.

NNPCL: No Plan To Increase PMS Price

The Nigeria National Petroleum Company Limited (NNPCL) has disclosed that it has no intention to increase the retail price of Petrol Motor Spirit (PMS) also known as petroleum. This was made known on Monday night in a statement issued on NNPCL’s official X (formerly Twitter) account, in response to reports circulating about a potential increase of petroleum pump price from the current N617 per litre to between N720 and N750 per litre.

Over 500 Directors To Retire Compulsorily With Revised PSR

The current revised Public Service Rule, capturing the tenure system for Permanent Secretaries would in turn retires over 500 Directors in the Civil Service, hence gives room for career progression of Deputy Directors to rise to the next level.

The Nigeria Labour Congress (NLC) has threatened to embark on an indefinite nationwide strike if there is a further increase in the pump price of Premium Motor Spirit (PMS) from the existing N617, which it describes as "illegal". This was made public by the NLC President, Joe Ajaero while speaking at the African Trade Union Alliance Meeting in Abuja, where Labour also warned against undermining the demands of the union. Oil marketers had indicated that the cost of petrol would rise to between N680/litre and N720/litre in the coming weeks should the dollar continue to trade from N910 to N950 at the parallel market.

NSC, FCCPC Collaborates To Establish CPR

The Nigerian Shippers Council (NSC) said it is collaborating with the Federal Competition and Consumer Protection Commission (FCCPC) with the view of establishing a Consumer Protection Regime (CPR) in the port and shipping sectors. This was made known on Tuesday by the Executive Secretary of the NSC, Emmanuel Jime, represented by the Director of Human Affairs, NSC, Mrs Adaku Okam during a sensitization programme for stakeholders on consumer rights and responsibilities in the country’s port and shipping sector.

CBN To Sanction Banks Involve In Illegal Sales of Forex

The Central Bank of Nigeria (CBN) has threatened to punish banks engaging in illegal sales of forex. The acting Governor of the apex bank, Folashodun Shonubi, revealed this during a lecture titled: “Diaspora Remittances and Nigerian Economic Development”, in Abuja, emphasizing the importance of strict steps to restrict illegal remittances and channel them via appropriate means to maximize economic growth. Shonubi announced the formation of a commission to pay unscheduled visits to banks accused of unlawfully selling dollars.

NLC Commences Nationwide Protest Over Petrol Subsidy Removal

Members of the organized labour, Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) have stormed various strategic points across the nation to express their displeasure over the sudden removal of petrol subsidy and the adversity effect on citizens.

FG Pulled Back Contempt Suit Against NLC, TUC

The Federal Government on Monday backtracked and withdrew its contempt suit filed against leaders of the Nigeria Labour Congress and the Trade Union Congress for organizing a nationwide anti-subsidy protest on August 2, 2023. The development came barely five days after the Federal Ministry of Justice sued the organised labour leaders for allegedly disobeying a court order barring them from leading the nationwide protest.
In a letter to Messrs Falana & Falana’ Chambers, Counsel, to NLC, Solicitor-General of the Federation and Permanent Secretary, Ministry of Justice, Mrs B.E. Jeddy-Agba, said “The attention of the Federal Ministry of Justice has been drawn to the Communiqué issued by the Nigeria Labour Congress, NLC, on August 3, 2023, wherein NLC announced the suspension of its nationwide protests and criticised the contempt summons issued by the National Industrial Court (“Court”), amongst other issues.

Senate Expresses Concern Over Proposed Labour Protest

The Nigerian Senate has expressed concern over the proposed nationwide strike by the Nigeria Labour Congress (NLC), stating that it poses a significant threat to the nation’s Gross Domestic Product (GDP) and overall well-being. Reacting to the proposed industrial action by the NLC during the Senate plenary session on Monday, the upper chamber, according to information obtained through Policy and Legal Advocacy Centre (PLAC), stated that there is more to lose than gain from the strike.