However, the Minister of State, Petroleum Resources, Chief Timipre Sylva, at the launch of the Nigerian Upstream Cost Optimisation Programme (NUCOP) in Abuja on Tuesday said Nigerians should brace up for higher fuel price.
The NUCOP launch was to find ways of reducing the cost of crude oil production and processing, officials said.
Sylva also said with no provision of subsidy in the 2021 budget, the Nigerian National Petroleum Corporation (NNPC) couldn’t continue to bear the cost of under-recovery.
“Since we are optimizing everything, NNPC needs to also think about the optimization of product cost because as we all know oil prices are where they are today, $60. As desirable as this is, this has serious consequences as well on product prices.
Green groups call for assurances over National Infrastructure Bank
A host of green groups have written to the Chancellor of the Exchequer Rishi Sunak, urging for the implementation of a UK National Infrastructure Bank (NIB) to de-risk private investment into low-carbon solutions.
Sunak additionally launched a £4bn “levelling up” fund, designed to help cities, towns and regions improve infrastructure and skills
A total of 20 organisations convened through the letter sent to Sunak, outlining recommendations for how the NIB, which was announced in the 2020 Spending Review, could steer investment towards viable low-carbon solutions.
Chancellor Rishi Sunak confirmed that the NIB would be created and begin operating in Spring 2021. It will be based in the North of England and will fill the role left by the European Investment Bank (EIB) as the UK completes the Brexit process.
Members of the North Somerset Trades Council in 2019.
- Credit: North Somerset Trades Council
People are being asked to nominate a North Somerset key worker who has made a difference to their lives during the pandemic.
Weston and North Somerset Trades Council wants to recognise and thank key workers who have been working in face-to-face roles throughout the pandemic.
The Trades Council - which is made up of members from a wide variety of unions who represent key workers across many sectors- wants to give £100 to one special key worker, and five £10 prizes to other frontline employees.
Richard Capps, secretary for Weston and North Somerset Trades Council, said: “Applause is great, but it doesn’t put food on the table. Key workers are facing a living crisis – pay is going down. Rather than clap, let’s given them the financial reward they deserve.”
Enugu workers pay Thank-you visit to Ugwuanyi over construction of secretariats for NLC, TUC
Published
Workers of Enugu State, under the aegis of the Organized Labour, on Tuesday, paid a Thank-you visit to Governor Ifeanyi Ugwuanyi for his administration’s consistency in addressing their issues in spite of various challenges confronting the nation.
The Organized Labour, comprising the state leadership of the Nigeria Labour Congress (NLC), the Trade Union Congress of Nigeria (TUC) and Joint Public Service Negotiating Council (JNC), described Ugwuanyi as a God-fearing, peaceful and Labour-friendly leader, who has lived up to expectations in fulfilling his promises to workers of the state since his assumption of office in 2015.