NUPENG threatens nationwide strike over Kaduna/labour showdown – Newstrends
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NUPENG threatens nationwide strike over Kaduna/labour showdown

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The Nigeria Union of Petroleum and Natural Gas Workers has threatened to embark on nationwide industrial action over the attack on members of the Nigeria Labour Congress during a Tuesday protest in Kaduna State.
National President of NUPENG Williams Akporeha said the union members should be on the red alert as they could shut their services “at very short notice if situation arises.”
The protesting union members were attacked by armed thugs in Kaduna on Tuesday.
It was the second day of the labour union’s five-day warning strike over the sacking of civil servants by the state government.
The statement read in part, “NUPENG, therefore, warns that if any harm is inflicted on any of the members of the organised labour, the leadership of the union will not hesitate to call on all our members throughout the nation for a total shutdown of all our services in the upstream, mid-stream, downstream sectors of the oil and gas industry.”
of dialogue and social bargaining for the benefit of the disengaged workers NLC Chairman in the state, Ayuba Suleiman, had said the unions were committed to the principle.
But the state government said the sacking was necessitated by its high wage bill.
Following the strike, Governor Nasir el- accused the NLC members of economic sabotage and declared their leaders wanted.
NUPENG said it was “deeply saddened” by the attack, and asked the Federal Government to “immediately call el-Rufai to order.”
“Consequently, the union reiterates that no labour leaders or workers as the case may be, be harmed, harassed, maimed, humiliated or victimized during this five-day peaceful protest in the state,” he said.
“Our union is raising this alarm following the very reliable report of the clandestine move of Governor Nasir El-RUfai to hurt and put the lives of NLC President, Comrade Ayuba Wabba and other labour leaders to danger in his usual blind egotistical style of running government in the state
“NUPENG, therefore, warns that if any harm is inflicted on any of the members of organized labour, the Leadership of the Union will not hesitate to call on all our members throughout the nation for a total shut down of all our services in the upstream, midstream and downstream sectors of the oil and gas industry.
“In the light of the above, we are therefore putting all NUPENG members nationwide on red alert and may at very short notice of five hours call for a nationwide industrial action if situation arises.”
The NUPENG president added that their solidarity with the NLC remains constant as it “makes us strong.”
The union already shut all fuel depots and filling stations in Kaduna over the strike.

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Naira loses N81 to dollar in one day

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Naira loses N81 to dollar in one day

The naira lost N81.34 against the US dollar at the foreign exchange market on Thursday

FMDQ data showed that the naira fell to N1,154.08 per dollar on Thursday from N1,072.74 on Wednesday.

This represents a 7.04 per cent loss against the dollar compared to N1,072.74 per dollar traded the previous day.

At the parallel market, the naira also depreciated N1,100 per dollar on Thursday from N1, 040 on Wednesday.

This is the second time the naira would be depreciating against the dollar in three days amid fears of depleting foreign exchange reserves.

Nigeria’s foreign reserves dropped to $32.29 billion as of April 15.

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Govt paying N600bn for fuel subsidy monthly — Rainoil CEO

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Govt paying N600bn for fuel subsidy monthly — Rainoil CEO

The CEO of Rainoil Limited, Gabriel Ogbechie, has claimed that the federal government resumed the payment of the controversial fuel subsidy following the devaluation of the Naira in the foreign exchange market.

Ogbechie made this statement on Tuesday during the Stanbic IBTC Energy and Infrastructure Breakfast Session held in Lagos.

He pointed out that with Nigeria’s daily fuel usage at 40 million liters and the foreign exchange rate at N1,300, the government’s subsidy per liter of fuel falls between N400 and N500, culminating in a monthly total of approximately N600 billion.

He said; “When Mr. President came in May last year, one of the things he said was that Subsidy is gone. And  truly, the subsidy was gone, because immediately the price of fuel moved from 200 to 500 per liter. At that point truly, subsidy was gone.

“During that period, Dollar was exchanging for N460, but a few weeks later, the government devalued the exchange rate. And Dollar moved to about N750. At that point, subsidy was beginning to come back.

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“The moment the two markets officially closed, officially the market went to about N1,300. At that point, that conversation was out of the window. Subsidy was fully back on petrol. If you want to know where petrol should be, just look at where diesel is. Diesel is about N1,300 and petrol is still selling for N600.

Furthermore, he said that NNPC being the only petrol importer in the country implies that there is an ongoing subsidy, as prices had to be fixed.

Earlier yesterday, the former governor of Kaduna State, Nasir El Rufai, said the federal government is spending more on petrol subsidy than before.

In addition, the Special Adviser to the President on Energy, Mrs. Olu Veŕheijen, said that the Federal Government reserves the right to pay fuel subsidy intermittently to cushion hardship in the country.

“The subsidy was removed on May 29. However, the government has the prerogative to maintain price stability to address social unrest. They reserve the right to intervene.

“If the government feels that it cannot continue to allow prices to fluctuate due to high inflation and exchange rates, the government reserves the right to intervene intermittently and that does not negate the fact that subsidy has been removed,” she said.

Govt paying N600bn for fuel subsidy monthly — Rainoil CEO

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Breaking: Dangote brings diesel price down to N1000/litre

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Breaking: Dangote brings diesel price down to N1000/litre

Dangote Petroleum Refinery has announced a further reduction in the price of diesel.

When it commenced operation a few weeks ago, Dangote Petroleum Refinery pegged the price of diesel as N1,200.

While rolling out the products, the refinery supplied at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 percent reduction from the previous market price of about N1,600 per litre.

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However, on Tuesday, a further reduction of N200 was noticed in the price, with the product now pegged at N1,000.

This significant reduction in the price of diesel, at Dangote Petroleum Refinery, is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.

The President of Dangote Group, Aliko Dangote, had during the Eid-el-Fitr celebration said if the cost price of diesel comes down, the inflation rate will be substantially reduced.

Dangote spoke when he visited President Bola Tinubu in his residence in Lagos State to celebrate the end of the Ramadan fast with him.

Breaking: Dangote brings diesel price down to N1000/litre

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