Residents of the nation’s commercial capital, Lagos, began the new week, yesterday, with some level of anxiety and confusion as fuel scarcity appeared in some parts of the state, especially on the Island axis.
The Nigerian Association of Road Transport Owners (NARTO) has threatened to stop haulage of petroleum products across the country over N430 per litre cost of diesel and other operational challenges. NARTO National President Yusuf Lawal Othman stated in Abuja Monday that operational cost has become unbearable and would in the coming week cripple haulage of […]
• Labour insists decisions must reflect interest of Nigerians
As the 36 governors meet today to decide on whether or not to increase the pump price of petrol, energy experts, civil society organisations and marketers have expressed concerns over attempts to reverse the deregulation of the downstream petroleum sector.
This is coming as oil price, yesterday, soared to $67 per barrel, a development that could further increase retail price of petrol, although it is positive for the Excess Crude Account and the 2021 budget.
Stakeholders said liberalisation of the downstream sector, including removal of subsidy, were necessary steps in reviving the downstream sector. They also maintained that taking clear decisions on how to implement minimum wage across the 36 states, providing other palliatives to cushion impacts, as well as proper use of subsidy should be critical for the governors.
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