Business
NLC Strike: NNPC Assures Of Fuel Stock
The Nigerian National Petroleum Corporation (NNPC) says there is 37 days premium Motor Spirit (PMS) known as petrol self-sufficiency to serve the needs of consumers across the country.
The corporation disclosed this in a statement signed by its spokesman Mr Ndu Ughamadu, in Abuja, on Wednesday.
He said the Group Managing Director of NNPC, Dr Maikanti Baru, had appealed to motorists and other consumers of petroleum products across the country not to engage in panic buying of products over the Nigeria Labour Congress (NLC) planned industrial action.
He said the Federal Government was seriously engaging the NLC on the issues it raised.
Ughamadu quoted the NNPC GMD as affirming that the nation had 37- day PMS, otherwise called petrol, self- sufficiency.
He assured that all the NNPC’s depots across the country, including the private ones engaged by the corporation on throughput basis, have an abundance of petroleum products to meet the needs of Nigerians.
He added that all NNPC depot managers had been instructed to intensify products loading and other activities in their depots to avert any fallout of developments in respect of the NLC’s proposed strike.
It further noted that the NNPC would continue to meet the products consumption needs of all Nigerians wherever they may be within the shores of the country.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.
