Business

FG Restates Stand On Fuel Price Hike

Published

9 years ago

December 27, 2017

The Vice-President, Prof. Yemi Osinbajo, has restated that the Federal Government had no plan to increase the pump price of petrol in 2018.
Osinbajo gave the assurance during his visit to fuel depots in Lagos on Monday where he monitored the loading of trucks to ensure steady supply of petrol to designated filling stations.
The Tide source reports that Osinbajo visited some major fuel depot terminals and stakeholders in Apapa and other parts of Lagos on Christmas Day.
According to the Vice President, the fuel scarcity facing the country is as a result of shortage of supply to depots across the country.
“The President is very much concerned about Nigerians and how we can quickly end the fuel scarcity crisis in the country.
“The fuel crisis presently confronting the country is as a result of shortage of supply of fuel to depots across the country.
“We hope that in the next couple of days, we would be able to end the fuel queues,” Osinbajo said.
He said that any marketer who hoarded petroleum products for the purpose of making extra profit would be dealt with by the enforcement agency saddled with the responsibility of regulating the sector.
Earlier at the stakeholders interaction meeting, the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, said that the long queues would be over by Wednesday.
Kachikwu, who noted that over 150 trucks were supplying fuel daily, added that there had been series of meetings and consultations with the oil marketers.
He said that he would meet with the Group Managing Director of NNPC, Dr Maikanti Baru, to put together structures and additional plans to end the fuel shortage currently facing the country.
Recall that the Vice-President had on Christmas Eve made an unexpected stopover at some filling stations in Lekki and other parts of Lagos Island to assess the fuel situation.
According to the Vice President, the Buhari administration is doing everything possible to quickly resolve the fuel shortage experienced by Nigerians.
It would be recalled that President Muhammadu Buhari had on Sunday sympathised with Nigerians over their suffering occasioned by the scarcity of petrol across the country.

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Published

6 hours ago

July 21, 2026

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Business

Pipeline Explosion In Abua Odua, LGA Chair Calls For Calm

Published

3 weeks ago

July 3, 2026

The Tide

Fresh explosions have hit oil and gas pipelines in Odau Community, in Abua/Odual Local Government Area of Rivers State, triggering a major security and environmental crisis that has forced residents to abandon their homes.

The first incident occurred along the Kolo Creek – Rumuekpe crude oil pipelines, operated by Renaissance Africa Energy Company Limited.

This was followed by a gas pipeline explosion on the Ogboinbiri – Obirikom Gas Pipeline, operated by Oando Plc, in the same week.

In a statement by the Abua/Odual Council Chairman, Hon. Owolobi Michael Ofori said the blasts, suspected to be the handiwork of militants, have unleashed persistent gas leakage in the area, raising fears of fire outbreaks and toxic exposure as residents of Odau have largely deserted the community due to the dangerous situation.

According to him, some residents of the area have been hospitalised after inhaling the leaking gas, adding that the impact has spread to neighbouring communities, including Obedum, Emirikpoko, and Anyu in Abua/Odual LGA, as well as Oruma and Ibelebiri in Bayelsa State.

Hon. Ofori expressed deep concern over the plight of the affected residents and urged the operating companies to act swiftly.

The Council expressed its deepest sympathy to all affected persons and communities and remained gravely concerned about the safety, health, and welfare of residents whose lives and livelihoods have been disrupted by these incidents.

“We call on Renaissance Africa Energy Company Limited and Oando Plc to immediately deploy all necessary technical and emergency response resources to contain the fires, halt the gas leakage, secure the affected pipeline corridors, and mitigate further environmental and public health risks.” the Council Chairman Said.

The chairman also appealed to the two oil firms to provide immediate humanitarian assistance and relief materials to the displaced residents while work continues to restore normalcy.

The Council Chairman said he is working closely with security agencies and emergency responders to monitor the situation and coordinate necessary interventions.

The Council Boss advised Residents of the Local Government Area to remain calm, cooperate with authorities, and adhere strictly to safety directives.

Ofori further called on the National Emergency Management Agency (NEMA), the National Oil Spill Detection and Response Agency (NOSDRA), the Rivers State Government, and other relevant bodies to intervene urgently to prevent loss of lives and environmental damage.

Hon. Ofori assured that the council remains committed to the protection and welfare of its people and will continue to engage all stakeholders to resolve the crisis.

Enoch Epelle

Business

Fidelity Bank Collaborates YEIDEP To Empower Nigerian Students

Published

3 weeks ago

July 3, 2026

The Tide

Fidelity Bank Plc has reaffirmed its commitment to youth empowerment, financial inclusion and entrepreneurship through a strategic partnership with the Youth Economic Intervention and De-radicalization Programme (YEIDEP), a Federal Government-backed initiative aimed at equipping young Nigerians with the skills, support and opportunities needed to build sustainable livelihoods.

Under the partnership, the bank will support the enrolment of students and young people into the YEIDEP programme, which is designed to tackle youth unemployment, promote enterprise development and expand economic participation among Nigeria’s growing youth population.

The next phase of the initiative is scheduled to end today at Nnamdi Azikiwe University, Awka, where the enrolment exercise for students and youths across the South-East that started since July 1st would be concluded at the university’s Convocation Arena.

The exercise is expected to reach more than 60,000 regular undergraduate students.

Speaking on the partnership, Fidelity Bank’s Divisional Head, Product Development, Osita Ede, said youth empowerment remains central to the bank’s vision of building a more inclusive and prosperous society.

He noted that Nigeria’s youths represent the country’s greatest asset and stressed that providing them with the right skills, opportunities and financial support is critical to unlocking their potential and driving national development.

According to Ede, the bank continues to provide young Nigerians with tools for success through its digital banking platforms, financial literacy initiatives, youth-focused products and strategic partnerships.

He added that Fidelity Bank recognises that limited access to funding, mentorship and business development support remains a major challenge for many aspiring entrepreneurs, and is committed to creating pathways that will help them overcome these barriers.

The bank said its support for YEIDEP aligns with its longstanding commitment to empowering Micro, Small and Medium Enterprises (MSMEs), which it described as key drivers of economic growth and job creation in Nigeria.

Interested students and youths have been encouraged to open Fidelity Bank accounts and register for the programme through the bank’s dedicated online portal.

Nkpemenyie Mcdominic, Lagos