• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result

NUPENG Proffers Ways Of Ending Lingering Fuel Crisis

Editor by Editor
November 24, 2015
in Uncategorized
NUPENG Proffers Ways Of Ending Lingering Fuel Crisis
Share on FacebookShare on TwitterShare on Linkedin

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) have said that If Nigeria is to see an end to the lingering fuel crisis, one of the things the Federal Government must prioritise is the fixing of the four petroleum refineries in the country.

NUPENG also urged government to ensure the protection of pipelines while curbing illegal bunkering.

National President of the NUPENG, Igwe Achese, made this known in a television interview monitored by Nairametrics on Monday.

RelatedStories

CBN issues directive to curb mass sacking by banks

How companies determine who to fire in an economic crunch

November 29, 2022
Dangote Cement

Dangote Cement commences buy back of 85 million issued shares of the company

December 21, 2020

Achese added that Nigeria would continue to experience scarcity of fuel because the distribution and marketing of the products have been mortgaged in the hands of few individuals.

He said: “I have said clearly over some months that the scarcity we are experiencing today will continue because we have mortgaged the petroleum product distribution marketing system into private homes, individuals in the name of privatization.

What we need to do is one; put our refineries in other. And I ask myself how much that will cost us to carry out complete turnaround maintenance. Turnaround maintenance is between three to four months and you are aware that this turnaround maintenance has been an issue for the past 15 years. And every year we keep hearing we have spent so billion in turnaround maintenance and yet we are no there.

Two is to make sure that our pipelines are also been protected, very well secured and to make sure that petroleum products or crude oil are being haulage through these pipelines to the refineries.

And then we need to tackle illegal bunkering. Government should sit up in fighting illegal bunkering. I ask myself, ‘the vessels that are being used to carry or lift up this crude oil are they being charms that cannot be seen by the eyes? These are big vessels that are visible and can be seen.”

Achese further said that the Obasanjo administration introduced petroleum subsidy in 2006 as a measure to carry out turnaround maintenance on the refineries.

He added that Nigeria now depended completely on the importation of petroleum products.

Achese said: “Who introduced petroleum subsidy into the system and for what purposes? You and I know very well when subsidy was being introduced in 2006 he clearly stated the terms of why subsidy was being introduced. He said look let us see a turnaround of the refineries and for us to do a turnaround of the refineries let us a lot importation of fuel to come into this country as a stop gap measure not as a dependent processes.

Today it is a process we are depending on now. It was a stop gap measure and that stop gap measure today is no more a stop gap measure. We are now depending on importation of petroleum product completely. If you look at the current situation we are today, we are yet to be told the exact amount of money being paid as subsidy. Because there is subsidy in demurrage, we have subsidy in de- haulage.”

Tags: News ReviewNNPC Nigeria News
Editor

Editor

Related Posts

CBN issues directive to curb mass sacking by banks
Small Business

How companies determine who to fire in an economic crunch

November 29, 2022
Dangote Cement
Spotlight

Dangote Cement commences buy back of 85 million issued shares of the company

December 21, 2020
President Buhari to address Nigerians on Lekki toll plaza shootings after investigation , Youth Investment Fund:  Ministry of Finance and CBN to launch provision of funds- Minister, Federal Ministry of Youth and Sports launch DEEL initiative
Spotlight

FG launches application for N75 billion Youth Investment Fund at 5% interest, how to apply

October 16, 2020
Nigeria plans to support oil price with lower production cost per barrel, NNPC records 34% increase in trading surplus, NNPC begs security agencies to allow petrol tankers commute during lockdown, FG abolishes petrol subsidy regime as full deregulation sets in
Business News

FG abolishes fuel subsidy regime as full deregulation sets in

April 7, 2020
Coronavirus, Ex-PPMC Boss dies of COVID-19
Obituaries

Ex-PPMC Boss dies of COVID-19

March 23, 2020
shopping mall prices
Blurb

Why A Drop In Inflation Does Not Necessarily Mean A Drop In Prices Of Commodities

July 17, 2019
Next Post
In Taxation, Nigeria Performs Worse Than War-Torn Countries – PWC

In Taxation, Nigeria Performs Worse Than War-Torn Countries - PWC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 
  • South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG
  • 15 things you don’t need to start a business in Nigeria 

Follow us on social media:

Recent News

Sterling Bank concludes core application migration, leads the way for African Banking

Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 

July 15, 2025
Doctors

South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG

July 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics