Fuel Subsidy: Latest Petrol Scarcity News, Update On Subsidy Removal For June 3rd, 2023

As Nigerians continue to groan over President Bola Tinubu’s announcement on fuel subsidy removal, Naija News brings you the latest update on Petrol scarcity, fuel subsidy and Govt/citizens’ reactions.

Fuel Subsidy: Tinubu Reveals Plan For Minimum Wage

President Bola Ahmed Tinubu, in a meeting held in Abuja on Friday, stated that the enhancement of living conditions for Nigerians is at the forefront of his administration’s agenda.

The President committed to crafting policies more targeted towards people and affirmed that the national minimum wage requires a review in order to reflect present realities.

In his discussion with members of the Progressive Governors Forum (PGF), led by the Governor of Imo State, Hope Uzodinma, Tinubu suggested that both national and sub-national governments need to collaboratively address the issue of minimum wage, which he said already demands some “soul searching”.

In a statement provided by State House Information Director Abiodun Oladunjoye, the President urged the governors to take advantage of their positions to positively impact their constituents’ lives.

He also voiced his commitment to work for the benefit of Nigerians.

NLC Declares Nationwide Strike Over Fuel Subsidy Removal, Petrol Price Hike

The Nigeria Labour Congress (NLC) has announced a plan to embark on a nationwide strike from next Wednesday, June 7, 2023.

Naija News reports that the NLC took the decision during an emergency National Executive Council (NEC) meeting on Friday (today) to deliberate on the recent increment in the pump price of Premium Motor Spirit (PMS), also known as petrol.

The meeting, which commenced a few minutes past 12 pm, was attended by executive members of the affiliate unions of the congress.
The trade union group had kicked against the removal of the fuel subsidy announced by President Bola Tinubu on Monday, May 29, while delivering his inaugural speech.

However, after an emergency meeting of the union’s NEC in Abuja today, NLC President, Joe Ajaero, said the government, particularly the Nigerian National Petroleum Company (NNPC) Limited, had up until Wednesday next week to revert to the old price of Premium Motor Spirit (PMS) otherwise referred to as petrol.

Subsidy Removal: NNPCL Boss Predicts End Of Fuel Queues

The Group Chief Executive Officer (CEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari has predicted when fuel queues arising from the crisis caused by the removal of subsidy would end.

According to him, the fuel queues being witnessed across the country would not exceed Saturday, Naija News learnt.

Kyari, while fielding questions on Channels TV during an interview yesterday said “I don’t see it staying beyond another day or two, maximum. It can actually be on Saturday. () We have supplies. The key trouble with the PMS system is supply, but I have supplies.

“There are over 810 million litres of PMS in depots, tanks and fuel stations across the country, so you don’t have the problem of transferring those from marine to land, you already have them on the ground.”

Speaking further about the availability of the product, the NNPCL boss revealed that the company had over 800 million litres of petrol on land, stored in filling stations, tank farms and depots, while its total stock for both marine and land stood at about 1.8 billion litres.