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FG Approves Dismissal Wage for Tally Clerks, Onboard Security Men



  • FG Approves Dismissal Wage for Tally Clerks, Onboard Security Men

The Federal Government has approved the payment of dismissal wage to tally clerks and security men of the Dockworkers’ branch of the Maritime Workers Union of Nigeria (MWUN), who were sacked from the Ports in 2005.

This was revealed in a letter dated September 5, which was signed on behalf of the Ministry by the Deputy Director, Coaster and Ports Administration, Balarabe Wali.

The Nigerian Ports Authority (NPA), had earlier in 2018 collaborated with the MWUN to verify the payment and beneficiaries of the severance pay. This was carried out in four locations in the country; Lagos, Rivers, Cross Rivers and Delta states.

The Minister of Transportation, Rotimi Ameachi approved the payment while instructing the NPA and the MWUN to join forces to ensure that it is successful.

It read, “Further to our letter dated 8th August 2019, on the above subject matter. I am to inform you that approval has been granted for the payment of severance benefits to the verified disengaged tally clerks and on-board security men as recommended, to maintain peaceful industrial harmony.”

In response, the President General of the MWUN and Secretary-General, Felix Akingboye, thanked the Minister and the management of the NPA for the approval.

This was coming after the Federal Government approved the sum of N23 Billion as payment to ex-workers of the defunct National Airline, Nigeria Airways Limited, following a mop-up verification exercise held in Lagos and Kano States which was conducted by the Presidential Initiative on Continuous Audit (PICA).

The verification exercise which was done by the Ministry of Finance was earlier conducted in 2018 in the six geo-political zones of the country to settle the dues of the Airline ex-workers.

The Airline was dissolved in 2004, amidst debts owed about 6,000 workers of the airline which led to a series of agitations by the ex-workers.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.


NNPC Supplies 1.44 Billion Litres of Petrol in January 2021



Petrol Importation -

The Nigerian National Petroleum Corporation (NNPC) supplied a total of 1.44 billion litres of Premium Motor Spirit popularly known as petrol in January 2021.

The corporation disclosed in its latest Monthly Financial and Operations Report (MFOR) for the month of January.

NNPC said the 1.44 billion litres translate to 46.30 million litres per day.

Also, a total of 223.55Billion Cubic Feet (BCF) of natural gas was produced in the month of January 2021, translating to an average daily production of 7,220.22 Million Standard Cubic Feet per Day (mmscfd).

The 223.55BCF gas production figure also represents a 4.79% increase over output in December 2020.

Also, the daily average natural gas supply to gas power plants increased by 2.38 percent to 836mmscfd, equivalent to power generation of 3,415MW.

For the period of January 2020 to January 2021, a total of 2,973.01BCF of gas was produced representing an average daily production of 7,585.78 mmscfd during the period.

Period-to-date Production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and Nigerian Petroleum Development Company (NPDC) contributed about 65.20%, 19.97 percent and 14.83 percent respectively to the total national gas production.

Out of the total gas output in January 2021, a total of 149.24BCF of gas was commercialized consisting of 44.29BCF and 104.95BCF for the domestic and export markets respectively.

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NNPC Says Pipeline Vandalism Decrease by 37.21 Percent in January 2021




The Nigerian National Petroleum Corporation (NNPC) said vandalisation of pipelines across the country reduced by 37.21 percent in the month of January 2021.

This was disclosed in the January 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR).

The report noted that 27 pipeline points were vandalised in January 2021, down from 43 points posted in December 2020.

It also stated that the Mosimi Area accounted for 74 percent of the total vandalised points in Janauray while Kaduna Area and Port Harcourt accounted for the remaining 22 percent and 4 percent respectively.

NNPC said it will continue to engage local communities and other stakeholders to reduce and eventually eliminate the pipeline vandalism menace.

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Nigeria’s Food Inflation Hits 22.95 Percent in March 2021



food storage

Food inflation in Africa’s largest economy Nigeria rose by 22.95 percent in March 2021, the latest report from the National Bureau of Statistics (NBS) has shown.

Food Index increased at a faster pace when compared to 21.70 percent filed in February 2021.

Increases were recorded in Bread and cereals, Potatoes, yam and other tubers, Meat, Vegetable, Fish, Oils and fats and fruits.

On a monthly basis, the food sub-index grew by 1.90 percent in March 2021. An increase of 0.01 percent points from 1.89 percent recorded in February 2021.

Analysing a more stable inflation trend, the twelve-month ended March 2021, showed the food index averaged 17.93 percent in the last twelve months, representing an increase of 0.68 percent when compared to 17.25 percent recorded in February 2021.

Insecurities amid wide foreign exchange rates and several other bottlenecks that impeded free inflow of imported goods were responsible for the surged in prices of goods and services in March, according to the report.

The Central Bank of Nigeria-led monetary policy committee had attributed the increase in prices to scarcity created by the intermittent clash between herdsmen and farmers across the nation.

However, other factors like unclear economic policies, increased in electricity tariffs, duties, subsidy removal and weak fiscal buffer to moderate the negative effect of COVID-19 on the economy continue to weigh and drag on new investment and expansion of local production despite the Federal Government aggressive call for improvement in domestic production.

Nigeria’s headline inflation rose by 18.17 percent year-on-year in the month under review.

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