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Fuel queues worsen amidst scarcity in Abuja, environs

TODAY March 2, 2021 The long lines of vehicles first seen at filling stations across Abuja at the weekend have worsened as fuel scarcity persisted on Monday in the Federal Capital Territory (FCT). The Nigerian National Petroleum Corporation (NNPC) had said the long queues were due to hoarding of Premium Motor Spirit (PMS) popularly known as petrol. The corporation’s spokesman, Dr Kennie Obateru, said there was enough of the product in storage and that the scarcity would soon fizzle out. The Chief Executive Officer of Major Oil Marketers Association of Nigeria (MOMAN), Mr Clement Isong, was not available for comment on Monday, but a MOMAN offical said uncertainty in the market was causing the scarcity.

Between Labour and the opposition to deregulation

Vanguard News Between Labour and the opposition to deregulation On L ast week, the price of crude oil rallied to $66 per barrel, the highest in 13 months.   This was after oil price sank to sub-zero level in the wake of the COVID-19 pandemic in 2020. Ordinarily, for a country like Nigeria that is heavily dependent on revenues from oil, the price rally ought to be good news as it portends more money for the government to provide social amenities for the welfare of the citizens. But the cheery news of oil price rally is dampened by the prospect of a rise in the pump price of petrol. In March 2020, the Federal Government finally took the bull by the horns and deregulated the downstream by taking advantage of the low oil prices induced by the COVID-19 pandemic.

Between Labour and the Opposition to Deregulation, By Tayo Olu

Between Labour and the Opposition to Deregulation, By Tayo Olu
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