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Kachikwu Blames Fuel Scarcity On Supply Shortfall – As PENGASSAN Issues FG 7-Day Ultimatum – To Address Anti-Labour Practice
Minister of State for Petroleum Resources, Dr Ibe Kachikwu says the major cause of the fuel scarcity currently being witnessed across the country is shortfall in supply of petroleum products.
Kachikwu, who stated this in a news briefing yesterday in Abuja, however, said that the Nigerian National Petroleum Corporation (NNPC) was making efforts to ensure that queues at filling stations disappeared in a couple of days.
“Presently, queues in Lagos have reduced. We know that Lagos, Abuja, Benue, Port Harcourt were among the worst-hit areas.
“Benue has been dealt with; Port Harcourt is quite moderated. Apart from these areas, other places in the country are probably liquid.
“The major problem is the gap in terms of volume, because NNPC is the only one importing the product to the country,” he said.
The minister assured that there was adequate storage facility for imported products, adding that emergency measures were in place to ensure that the products were available during the Yuletide and post-January.
He said that four vessels laden with petroleum products would “berth in a few days and a total of 20 cargoes are also expected with petroleum products’’.
Kachikwu said that the NNPC had, as at Wednesday, discharged products at its depots, adding that emergency supply, quick truck delivery and stricter monitoring were measures adopted to ensure that queues disappeared.
He added that NNPC would use additional trucking to major cities using strategic reserves from Suleja, Minna, Gusau and Gombe.
This, he said, would help to service Abuja, Kano and Sokoto axis to feed the North-West, North-East.
“I have asked the Department of Petroleum Resources (DPR) and Petroleum Products Pricing Regulatory Agency to ensure stricter sanctions on any station that refuses to abide by the rules.
“They need to take a firm action to ensure that we get quick results,’’ he said.
Kachikwu further assured that the market would be flooded with more products to cushion effects of over-subscription through Kaduna refinery production, adding that Port Harcourt was expected to start producing 2.1 million litres of petrol per day.
He said that it was expected that with the adopted strategies, the queues would “slide down’’ in one week.
On long-term strategy, he said that ultimate result would come when the refineries resumed optimal production.
The minister said that work would commence effectively in the refineries in January.
Executive Secretary of DPR, Mr Modecai Ladan said that many sanctions awaited filling stations found compromising the dispensing process, warning that the stations would be shut down or charged N275 per litre.
He said that any station found hoarding products would either be sealed or its product auctioned or dispensed free-of-charge to consumers.
Ladan added that depending on the offence, defaulters may be shut down for six months or blacklisted.
Our correspondent reports that a drive round Abuja metropolis and highways revealed that only a few filling stations were opened for operation, serving long queues.
Meanwhile, PENGASSAN has issued a seven-day ultimatum to the Federal Government to address injustice and lawlessness in the oil and gas sector companies or face a nationwide strike from December 18.
General Secretary, Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Mr Lumumba Okugbawa gave the ultimatum in a statement yesterday in Abuja.
Okugbawa said this was imperative in order to address anti-labour issues and lawlessness by some indigenous oil and gas companies and marginal field operators by relevant agencies of government.
He said if this was not addressed properly, it would culminate into the shutting down of all oil and gas installations, including disruptions to fuel supply and distribution across the country.
The unionist said the anti-labour practice includes the termination of employment of any worker who indicated willingness to belong to the union.
“Those that are threatened and compelled to disown the union are then treated as slave workers within their own country.
“The case of Neconde Energy Ltd (of Nestoil Group of companies) is particularly worrisome as the issue of dignity in labour and infringement on workers’ rights to Freedom of Association is foreign to them.
“This has led to mass sack of workers that joined the union and dehumanisation of some in total disregard to rule of engagement and the laws of the land.
“The actions of companies such as Neconde in mass sack of Nigerian workers contribute in no small measure to the unending militancy in the Niger Delta.’’
He said Neconde had not only conducted itself as being above the provisions of extant laws and regulations guiding the operations of oil and gas companies in Nigeria, but also severally boasted that no government agency would call it to order.
“Having explored all options without getting the necessary understanding, and an apparent failure of relevant authorities of government to call to order these recalcitrant organisations especially Neconde, we are giving the Federal Government and its relevant agencies seven-days’ notice to embark on nationwide strike effective Dec. 18.
“ If government fails to direct the management of Neconde and other companies to recall our sacked members, as the only option to address this injustice and lawlessness.
“PENGASSAN appeals to all Nigerians to show understanding and to use this window to stockpile adequate quantity of Premium Motor Spirit (PMS) and other petroleum products that will last them during the period as this strike will be indefinite.’’
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Tinubu Hails NGX N100trn Milestones, Urges Nigerians To Invest Locally
President Bola Tinubu yesterday celebrated the Nigerian Exchange Group’s breakthrough into the N100tn market capitalisation threshold, saying Nigeria has moved from an ignored frontier market to a compelling investment destination.
Tinubu, in a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga, urged Nigerians to increase their investments in the domestic economy, expressing confidence that 2026 would deliver stronger returns as ongoing reforms take firmer root.
He noted that the NGX closed 2025 with a 51.19 per cent return, outperforming global indices such as the S&P 500 and FTSE 100, as well as several BRICS+ emerging markets, after recording 37.65 per cent in 2024.
“With the Nigerian Exchange crossing the historic N100tn market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation,” Tinubu said.
He attributed the stellar performance to Nigerian companies proving they can deliver strong investment returns across all sectors, from blue-chip industrials localising supply chains to banks demonstrating technological innovation.
The President added, “Year-to-date returns have significantly outpaced the S&P 500, the FTSE 100, and even many of our emerging-market peers in the BRICS+ group. Nigeria is no longer a frontier market to be ignored—it is now a compelling destination where value is being discovered.”
Tinubu disclosed that more indigenous energy firms, technology companies, telecoms operators and infrastructure firms are preparing to list on the exchange, a move he said would deepen market capitalisation and broaden economic participation.
He also cited what he described as a sustained decline in inflation over eight months—from 34.8 per cent in December 2024 to 14.45 per cent in November 2025—projecting that the rate would fall below 10 per cent before the end of 2026.
“Indeed, inflation is likely to fall below 10 per cent before the end of this year, leading to improved living standards and accelerated GDP growth. The year 2026 promises to be an epochal year for delivering prosperity to all Nigerians,” he said.
The President attributed the trend to monetary tightening, elimination of Ways and Means financing, and agricultural investments, which he said helped stabilise the naira and ease post-reform pressures.
Nigeria’s current account surplus reached $16bn in 2024, with the Central Bank projecting $18.81bn in 2026, reflecting a trade pattern shift toward exporting more and importing less locally-producible goods.
Non-oil exports jumped 48 per cent to N9.2tn by the third quarter of 2025, with African exports nearly doubling to N4.9tn. Manufacturing exports grew 67 per cent year-on-year in the second quarter.
Foreign reserves have crossed $45bn and are expected to breach $50 billion in the first quarter, giving the CBN ammunition to maintain currency stability and end the volatility that previously fuelled speculation, according to the President.
Tinubu also highlighted infrastructure expansion in rail networks, arterial roads, port revitalisation, and the Lagos-Calabar and Sokoto-Badagry superhighways, alongside improvements in healthcare facilities that are reducing medical tourism costs, and increased university research grants funded through the Nigeria Education Loan Fund.
“Our medicare facilities are improving, and medical tourism costs are declining. Our students benefit from the Nigeria Education Loan Fund, and universities are receiving increased research grants,” he said.
He described nation-building as a process requiring hard work, sacrifices, and citizen focus, pledging to continue working to build an egalitarian, transparent, and high-growth economy catalysed by historic tax and fiscal reforms that came into full implementation from January 1.
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RSG Kicks Off Armed Forces Remembrance Day ‘Morrow …Restates Commitment Towards Veterans’ Welfare
The Rivers State Government has reiterated its commitment towards the welfare of veterans, serving officers and widows of fallen officers in the State.
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?The Secretary to the Rivers State Government, Dr. Benibo Anabraba, in a statement by ?Head, Information and Public Relations Unit, SSG’s ?Office, ?Juliana Masi, stated this during the Central Planning meeting of the 2026 Armed Forces Remembrance Day in Port Harcourt, yesterday.
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?Anabraba thanked the Committee for their contributions to the success of the Emblem Appeal Fund Ceremony recently held in the State and called on them to double their efforts so that the State can record resounding success in the remaining activities.
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?According to him, the remembrance day events will begin with Jumaàt Prayers on Friday, 9th January at the Rivers State Central Mosque, Port Harcourt Township, while a Humanitarian Outreach/Family and Community Day will be hosted on Saturday, 10th January, by the wife of the governor, Lady Valerie Siminalayi Fubara, for widows and veterans.
?”On Sunday, 11th January, an Interdenominational Church Thanksgiving Service will hold at St. Cyprian Anglican Church, Port Harcourt Township while the Grand-finale Wreath- Laying Ceremony will hold on Thursday, 15th January at the Isaac Boro Park Cenotaph, Port Harcourt”, he said.
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?The SSG noted that one of the highlights of the events is the laying of wreaths by Governor Siminalayi Fubara and Heads of the Security Agencies.
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Fubara Redeploys Green As Commissioner For Justice
The Governor of Rivers State, Sir Siminalayi Fubara, has approved a minor cabinet reshuffle in the State Executive Council.
Under the new disposition, Barrister Christopher Green, who until now served as Commissioner for Sports, has been redeployed to the Ministry of Justice as the Honourable Attorney General and Commissioner for Justice.
This is contained in an official statement signed by Dr. Honour Sirawoo, Permanent Secretary, Ministry of Information and Communications.
According to the statement, Barrister Green will also continue to coordinate the activities of the Ministry of Sports pending the appointment of a substantive Commissioner to oversee the ministry.
The redeployment, which takes immediate effect, was approved at the last State Executive Council meeting for the year 2025, underscoring the Governor’s commitment to strengthening governance, ensuring continuity in service delivery, and optimising the performance of key ministries within the state.
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