Category: Lead

  • Don’t hoard intelligence, Tinubu warns security agencies

    Don’t hoard intelligence, Tinubu warns security agencies

    President Bola Ahmed Tinubu yesterday identified security as the pill for economic revival, prosperity and development of Nigeria. He told security and intelligence agencies to ensure the security of the land.

    He spoke after a tour of the new Office of the National Security Adviser and facilities at the National Counter Terrorism Centre (NCTC) in Abuja.

    The President stressed the importance of information and intelligence sharing among the security agencies, warning that hoarding such resources could be counterproductive in the fight against terrorism.

    Noting the efforts demonstrated in countering terrorism and the state-of-the-art facilities at the two facilities, President Tinubu highlighted the importance of backing such efforts with knowledge.

    According to a statement issued by the Director of Information in the State House, Mr. Abiodun Oladunjoye, Tinubu said his administration had recognised that in order to achieve economic revival, prosperity, and development, security should be of optimum priority.

    The statement reads: “It is a great joy to see that we are getting proactive resources to prepare ourselves. Terrorism is not unique to Nigeria alone. It is across the world and we have to fight it. We have to eliminate it completely.

    “If we as Nigerians are looking for economic revival, prosperity and development, then we have to give priority to security.

    “What I have seen here is a demonstration of intelligence efforts to counter-terrorism. This must be backed by knowledge. 

    Read Also: ‘Tinubu can fix Nigeria’

    “Counter terrorism that is not backed by knowledge and intelligence is not going to be of any service to any nation. We are going to work on that together.

    “The effort of the entire armed forces of this country must be put together in a way that there will be one single focus on securing the country.

    “You can’t have disharmony in an orchestra. We must focus on one tunnel; coordinate, share information, share intelligence and work harder.

    “You cannot hoard information. You cannot hoard intelligence. I am glad that Nigeria is on the path to succeed. We will, I assure you. We will make it a priority and that is why I am here this morning.”

    President Tinubu, who described the tour of facilities at the new ONSA building as very important, expressed his willingness to support the nation’s security architecture.

    The NSA, Maj.-Gen. Babagana Monguno, thanked the President for making the visit his first engagement outside the Villa, saying that “it reinforces his commitment, dedication and inflexible rigidity to ensuring that the security misfortunes of the Federal Republic of Nigeria and by extension the sub-region are overcome within the shortest possible time.”

    Gen. Monguno pledged ONSA’s total commitment and dedication to ensuring the realisation of the President’s promises on security.

  • BREAKING TUC joins FG, NLC meeting on fuel subsidy

    BREAKING TUC joins FG, NLC meeting on fuel subsidy

    The Trade Union Congress of Nigeria (TUC) has joined the ongoing negotiation meeting between the Federal Government and leadership of the Nigerian Labour Congress (NLC) at the Presidential Villa, Abuja.

    Prior to the arrival of the TUC representatives led by the body’s President, Festus Osifo, the meeting went on recess to allow for consultations with the National Executive Council (NEC) of the NLC.

    The negotiations aim to address the pressing issues at hand, especially the removal of fuel subsidy, its attendant hike in pump price of petrol, also known as the Premium Motor Spirit (PMS) and the harsh conditions on the masses.

    Read Also: BREAKING: Court restrains NLC, TUC from strike over fuel subsidy

    NLC President, Joe Ajaero, who led the NLC’s delegation, told reporters he was unaware of any order by the Industrial Court, restraining the union from proceeding with an indefinite nationwide strike.

    Ajaero, who said both sides have been attempting to woo themselves, however said there was no need for government to use underhand tactics but engage Labour and address the concerns of workers.

    Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele and former Minister of State for Labour and Employment, Festus Keyamo, have joined the government’s delegation at the meeting.

    Details Shortly …

  • BREAKING: Court restrains NLC, TUC from strike over fuel subsidy

    BREAKING: Court restrains NLC, TUC from strike over fuel subsidy

    The National Industrial Court in Abuja has restrained members of the Organised Labour under the umbrella of the Trade Union Congress (TUC) and the Nigerian Labour Congress (NLC) from proceeding with their plan to embark on strike from June 7 over the removal of fuel subsidy.

    Justice O. Y. Anuwe gave the order on Monday while ruling on an ex-parte motion filed by the office of the Attorney General of the Federation (AGF) which was moved by Mrs. Maimuna Lami Shiru, Director Civil Litigation, Federal Ministry of Justice.

    Justice Anuwe said the order shall remain in force pending the hearing and determination of a motion on notice dated June 5 which was filed by the Federal Government through the office of the AGF.

    Read Also: JUST IN: FG, NLC meet over fuel subsidy

    The judge said her action was informed by the argument by the Federal Government’s lawyer that the strike, if allowed, will occasion incalculable damage to the nation.

    She said: “Having therefore considered the totality of this application, I make the following orders: 

    *The defendants/respondents are hereby restrained from embarking on the planned Industrial Action/or strike of any nature, pending the hearing and determination of the motion on notice dated 5th June 2023. 

    *It is ordered that the defendant/ respondents be immediately served with the originating processes in this suit, the motion on notice and the order of this court hereby made. 

    *The motion on notice is hereby fixed for a hearing for 19th June 2023. Hearing notices to that effect shall be served on the defendants/respondents along with the other processes.”

    The suit marked: NCIN/ABJ/158/2023 has as defendants, the NLC and TUC, while the Federal Government of Nigeria and the AGF are listed as the claimants.

    Justice Anuwe, in the ruling, said the applicants pointed out that the proposed strike action is capable of disrupting economic activities, the health sector and the educational sector.

    She said by Section 7(b) of the National Industrial Court (NIC) Act 2006, her court is empowered and indeed is clothed with exclusive jurisdiction in matters relating to the grant of any order to restrain any person or body from taking part in any strike, lockout or any industrial action or any conduct in contemplation or in furtherance of the strike, lockout or any industrial action. 

    The judge added that Sections 16 and 19(a) of the NIC Act 2006 also empower this court to make orders or grant urgent interim reliefs. 

    She added: “The urgency enumerated in the affidavit of urgency and in counsel’s submission reveals a scenario that may gravely affect the larger society and indeed the well-being of the nation at large. 

    “Counsel has pointed out that students of Secondary Schools nationwide, especially those writing WAEC exams will be affected; the tertiary institutions who have only just resumed after a long ASUU strike will also be affected, not leaving the health sector, amongst other sectors; and above all, the economy of the nation. 

    “In my view, this is a situation of extreme urgency that will require the intervention of this court,” Justice Anuwe said.

  • JUST IN: JOHESU, AHPA suspend strike after meeting with Tinubu

    JUST IN: JOHESU, AHPA suspend strike after meeting with Tinubu

    Health workers under the aegis of the Joint Health Workers Union (JOHESU) and Assembly of Healthcare Professionals (AHPA) have suspended their indefinite strike with effect from Tuesday.

    The Nation reports the decision was taken after the unions’ meeting with President Bola Ahmed Tinubu.

    The National Vice Chairman of JOHESU, Dr. Obinna Ogbonna, who confirmed this to The Nation, explained that the plea, assurance and body language of President Tinubu convinced its members to give a 21-day timeline to the Federal Government to begin implementation of some of their demands.

    According to him: “We have just returned from the expanded NEC meeting. With the level of engagement from the government side, coupled with some of the indicators we have seen so far, and with our visit to the Villa to see Mr President who gave assurances that he is going to look into our issues with the mindset of resolving them, we brought the matter to the Congress.

    Read Also: Call off strikes, Tinubu urges health workers

    “With all other assessments that we have made so far, and with Mr. President’s pleas, the Congress now decided that a 21-day timeline should be given to the government to activate and release some of the circulars, and implement some of those items that we have taken to the government.

    “On the strength of that, the Congress now said the strike should be suspended with effects from tomorrow when the Congresses in other branches will be called.”

    On May 25, members of the JOHESU and AHPA embarked on an indefinite strike following the failure of the government to address their demands.

    The JOHESU and AHPA, which comprise healthcare workers, excluding medical doctors, dentists, nurses and midwives, complained about the unfair treatment and discrimination of its members by the Federal Ministry of Health, with regard to their welfare, including wages and benefit packages, among others.

  • JUST IN: FG, NLC meet over fuel subsidy

    JUST IN: FG, NLC meet over fuel subsidy

    The Federal Government and Nigerian Labour Congress (NLC) are meeting at the Presidential Villa, Abuja over fuel subsidy removal.

    NLC’s President Joe Ajaero is leading the Labour team to the meeting, which started around 5:51 pm. 

    The Organised Labour last Wednesday met with the government team but the meeting ended in deadlock and was rescheduled for Sunday.

    Read Also: Fuel subsidy: Judiciary workers declare nationwide strike

    But the NLC refused to honour Sunday’s meeting alleging that it was ambushed by the government with the announcement of a new price template by the Nigeria National Petroleum Company Limited (NNPCL). 

    It asked the government to revert to the old pump price for meaningful negotiation to take place.

    The government team at the meeting include former Edo Governor Comrade Adams Oshiomhole; the Group Chief Executive Officer (GCEO) of NNPCL Mele Kyari; the Chief of Staff to the President Speaker Femi Gbajabiamila; Hon. James Faleke, Permanent Secretary, Ministry of Labour Labour and Employment, Kachollom Daju among others.

    Details Shortly…

  • BREAKING: Tinubu meets Wike, Umahi, Akpabio

    BREAKING: Tinubu meets Wike, Umahi, Akpabio

    President Bola Tinubu is meeting with former Rivers Governor Nyesom Wike; former Ebonyi Governor Dave Umahi and Senator Godswill Akpabio at the Presidential Villa, Abuja.

    For the second time in four days, former Rivers State governor, Nyesom Wike is meeting with President Bola Tinubu at the Presidential Villa, Abuja. 

    Just like Wike, Umahi met with the President last Friday in his office.

    Read Also: Remi Tinubu assumes office as First Lady

    Although the reason for the visit of the former Governors and Akpabio, also a former Governor of Akwa Ibom State could not the ascertained at the time of filing this report, it is believed it may not be unconnected with pending choices of ministerial positions and upcoming election of National Assembly’s principal officers. 

    Akpabio, who is the ruling All Progressives Congress (APC) preferred candidate for the position of the President of the Senate, is believed to have come in the company to firm up his position.

    Details Shortly…

  • Wike: What I will do if Tinubu offers me appointment

    Wike: What I will do if Tinubu offers me appointment

    The immediate past Rivers Governor Nyesom Wike has said if President Bola Tinubu offers him an appointment, he will consult with his wife and friends.

    Wike, while speaking with BBC Pidgin, said although he is not too big to serve Nigeria, he wants to rest having served as a Governor for eight years.

    He pointed out that President Tinubu, who is in the ruling All Progressives Congress has not informed him of any appointment.

    Read Also: Tinubu holds talks with Makinde, Wike, Ibori

    But according to him, if Tinubu does, he’ll assess himself to know whether he is prepared.

    He said: “I’m going to rest; I have worked for eight years, so I’m going to rest.

    “Tinubu has not informed me about getting an appointment; I’m not too big to serve my country, but he has never told me that he would give me an appointment.

    “If he asks me, the first thing I will do is ask my wife and friends what they think about it.

    “I will also assess myself if I’m prepared. I will never do what I’m not ready for.”

  • BREAKING: Kaduna Gov meets labour leaders over planned strike

    BREAKING: Kaduna Gov meets labour leaders over planned strike

    Kaduna Governor Senator Uba Sani is holding a closed-door meeting with leader of the Organised Labour leaders in the State over the planned strike action by the Nigeria Labour Congress (NLC).

    The meeting is expected to set two committees to see to amicable resolution of the crisis occasioned by the removal of fuel subsidy by the Federal Government.

    Read Also: We’re pressing ahead with planned strike, says NLC

    The Organised Labour leaders were led to the meeting by Kaduna NLC chairman, Comrade Ayuba Magaji Suleiman.

    Details Shortly…

  • Subsidy: Fed Govt okays action on TUC demands

    Subsidy: Fed Govt okays action on TUC demands

    • Tripartite panel to work out modalities for palliatives implementation
    • Oshiomhole faults NLC for shunning talks •Negotiation resumes tomorrow

    A major step towards averting an industrial action over petrol subsidy removal was taken last night.

    The Federal Government said it would consider a list of demands by the Trade Union Congress (TUC), including a minimum wage increase and tax holiday.

    Yesterday’s meeting was a follow-up to Wednesday’s parley between the government and Labour over President Bola Ahmed Tinubu’s pronouncement during his inauguration statement that ‘fuel subsidy is gone’.

    Following the speech, marketers raised the price of petrol and Labour announced a nationwide strike to begin on Wednesday.

    Negotiations would continue tomorrow on the demands, the spokesman of the government team, Mr. Dele Alake, announced after the meeting.

    He said Labour’s demands are “not impracticable”.

    TUC President Festus Osifo confirmed tomorrow’s meeting.

    Nigeria Labour Congress (NLC) leadership, which attended Wednesday’s meeting, failed to show up yesterday. 

    It declared its intention to go ahead with strike on Wednesday. 

    According to its president Joe Ajaero, the government must reversed the ‘unilateral’ increase of petrol prices before any negotiation.

    Former Edo State governor Adams Oshiomhole faulted the NLC for shunning the resumed negotiation between the Federal Government and the organised Labour.

    He expressed the hope that the Joe Ajaero-led union will return to the tomorrow when the government team and Labour officials resume talks.

    But the government said it would continue to reach out to the NLC leadership. 

    There were calls on the NLC to shelve the planned action.

    The government got more support for the subsidy removal from manufacturers, investors and business concerns, and was urged to introduce palliatives.

    The government team at yesterday’s meeting was led by Secretary to the Government of the Federation (SGF) Senator George Akume.

    Alake said: “We are very happy to announce that this engagement has been very productive.

    “The TUC presented a list of demands, which will be presented to Mr President for consideration. 

    “A lot of the items on the list are not impracticable. What we need to do is to study the numbers very well.

    “We have asked the TUC to also give us a leeway to consult very exhaustively and reconvene on Tuesday (tomorrow) to look at the numbers’ viability and practicability of all the items. 

    “The most important is the issue of the minimum wage, which the Labour movement has demanded given the consequential impact of this removal of subsidy. 

    “The government will look at that and Mr President is most likely going to constitute a tripartite committee of Federal Government, states and the organised Labour as well as the private sector. 

    “The committee will study all the dynamics of a wage increase in percentages, the numbers and the categories that will be affected. 

    “So, by Tuesday, when we reconvene to meet with the TUC again, we should have very concrete items to present to the world. 

    “But, the most important thing for today is that we are making appreciable progress with the Labour.”

    Alake admitted that the cost of living will rise with subsidy removal.

    “Labour argues that there is an immediate impact on the workers, on the purchasing power, because the price of fuel has gone up. 

    “That will necessarily reduce the purchasing power of the average worker. So, the next thing of immediate consequence is to increase the purchasing power of the worker. 

    “That to me and all of us on this side is the topmost priority on the list. 

    “There are other things like the tax holidays in which some categories of workers will be beneficiaries. But the most important is the minimum wage,” Alake said.

    On the NLC, he said: “We all agreed that we are going to meet here, but again, in this game there are dynamics. 

    “Sometimes, they could be meeting with their executives and not able to meet with us, or they could want to postpone or they have not articulated their list of demands as the TUC. 

    “But we cannot second-guess why they are not here. But efforts are being made to reach them; we are not isolating them at all.”

    Osifo said his team attended the meeting as directed by the union’s National Executive Council (NEC).

    He said: “Yes, we have presented the list of our demands and they received it in good faith. They will go back to their principal and come back to us on Tuesday. 

    “So we’re hopeful that the demands that we have presented will be reviewed in the best interest of Nigerian workers and the entire Nigerian masses.”

    He confirmed that part of the demands is the review of minimum wage, which he said has been eroded by the subsidy removal.

    “Because they are going back to Mr President, we also think that we should also give them that benefit of the doubt,” he said.

    Others members of the Federal Government team are Central Bank of Nigeria (CBN) Governor Godwin Emefie; Senator-elect Adams Oshiomhole; and Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari.

    Also at the meeting were the Executive Secretary of the National Sugar Development Council (NSDC), Zacch Adedeji; Executive Vice President, Downstream, of the NNPCL, Yemi Adetunji; House of Representatives member James Faleke, among others.

    NLC: strike to go on

    The NLC yesterday debunked claims that its ranks were divided, saying it was going ahead with its planned industrial action.

    The Congress said all the affiliate unions of the NLC stand together.

    Head of Information and Public Affairs, Benson Upah, said: “Whereas primordial sentiments such as religion, region or ethnicity may be a refuge for some, at the NLC, they have no place. 

    “What counts for us are issues such as the mindless and criminal increase in the pump price of PMS whose burden will be borne by the already impoverished communities of the poor across Nigeria.

    “The burden of this malevolent policy will not be borne by other segments of the country to the exclusion of the North or Southwest. Thus, there is no reason for these regions to back out of the strike.”

    More unions are mobilising for the industrial action.

    The National Union of Electricity Employees (NUEE) directed its members to withdraw their services nationwide on Wednesday.

    The NUEE, in a notice signed by its acting general secretary, Dominic Igwebike, urged its members to comply with the directive and stop work from the early hours of Wednesday.

    “All national, state and chapter executives are requested to start the mobilisation of our members in total compliance with this directive,” the statement stated.

    The Nasarawa chapter of the NLC is also mobilising its members.

    Its chairman, Ayuba Oko, after an emergency meeting of the State Executive Council (SEC), said there was no going back unless the subsidy removal is reversed.

    Sanwo-Olu, Ndume, urge Labour to shelve plan

    But, Lagos State Governor Babajide Sanwo-Olu, urged the NLC to shelve the action.

    Speaking after a post-inauguration thanksgiving service at the Cathedral Church of Christ, he said: “This is not the time to go on strike. Recall that all presidential candidates said the first thing they will do is remove fuel subsidy. So what has changed? 

    “What has President Tinubu said or done that is different from what others would have done? The president has not even spent one week in office. 

    “We need to be very patient and reason together. Let us not make the issue about politics, but let’s support this man. We should allow him to go and reflect.

    “Strike will not resolve anything; it won’t address the issue. The point should be how to ensure a sustained turnaround in our economy…

    “So, I plead with the NLC to not turn the subsidy issue into a political one. The leadership should know they are leading people and so there is a need to restrain themselves. Let us be patient and work with the president.”

    Former Senate Leader, Mohammed Ali Ndume, also urged the NLC to call off the planned strike.

    He said: “This fuel subsidy removal is something we must do now or never. We need to open the wounds now and begin to heal them.

    “The NLC needs to work with the government and see how the effects can be minimised. If we don’t remove the subsidy now, some people will continue to milk this country. 

    “NLC should go to the negotiation table with the Federal Government.”

    But, Kano State Governor, Abba Kabir Yusuf, asked petroleum marketers to revert to the old price.

    In a statement by his Chief Press Secretary, Sanusi Bature Dawakin Tofa, the governor said the marketers still had old stock that was supposed to be sold at the previous rate.

    “I am disheartened to see our dear people of Kano suffering as a result of an unjustified fuel hike, and the situation must be stopped right away,” Yusuf said.

    IPMAN predicts price crash

    The Independent Petroleum Marketers Association of Nigeria (IPMAN) believes petrol prices will drop when more companies are licensed to import the product.

    Its Chairman Enugu Depot (comprising Anambra, Ebonyi and Enugu), Chinedu Anyaso, said: “The competition that will begin in the coming days will surely ease the pain of high prices of products.”

    ‘Dialogue needed’

    Director General, Michael Imoudu National Institute for Labour Studies (MINILS), Comrade Isa Aremu, called for continuous dialogue.

    He said: “What makes the current reform different is that there is a national consensus among all stakeholders that prohibitive costs of subsidising a single product (PMS) in the wake of declining public revenue and other national needs are unsustainable.”

    He added: “Neither policy reversal nor mass protest is an option. Genuine negotiation and social dialogue would make the deregulation policy a reality without compromising the welfare of the citizens concerning welfare and secured jobs.”

    National Chairman of Tinubu Support Network and Director-General of Amalgamated All Progressives Congress (APC) Support Groups, Kailani Muhammad, applauded President Tinubu for the prompt announcement of subsidy removal.

    Kailani, a former staff of the defunct Nigerian National Petroleum Corporation (NNPC), argued that if Tinubu had not announced the removal of the subsidy at the time he did, the oil cabals would have frustrated the effort as they did past administrations.

    At a briefing in Kaduna, he said: “This is the right decision because the immediate past administration shifted it. We have been postponing the evil day. A time has come for this country to measure up with the comity of nations.

    “Nigeria as a member of OPEC should enjoy gains that accrue from sales of oil to develop infrastructure, health, education, agriculture, etc.

    “I think we are good to go. Subsidy removal will increase competitiveness and prices will fall back. I believed he did it in a good fate.”

    Also, Chairman APC USA, Prof. Tai Balofin, urged Nigerians to trust President Tinubu to work out palliatives to cushion the effect of fuel subsidy removal.

    “I trust that the president will put some measures in place to cushion the effect of the subsidy removal so it does not go overboard,” he said.

    A chieftain of APC U.S.A, Mr Tunde Doherty, said the United Kingdom does not pay subsidies on its petroleum products.

    “In the UK today, we have Costco Oil selling for £1.3 and we have Sabre (Oil and Gas) selling for £1.7. So it is a liberalised economy with petrol.

    “There is no subsidy in the Diaspora and we enjoy fuel. We have never experienced fuel scarcity. The time for us to enjoy that Renewed Hope is here,” Doherty stressed. 

    ‘Provide palliatives’

    A former Minority Leader, Senator Biodun Olujimi, urged President Tinubu to roll out palliative measures to cushion the effects of subsidy removal on Nigerians.

    “Even though we want the subsidy to go, it should have been done in such a way that it won’t cause people unnecessary pain,” he said.

    A group, the Community of Advocacy for Positive Behavioural Patterns Initiative (AFPBPI), also called for palliative measures to ameliorate the effects on the masses while welcoming the policy.

    Its spokesman, Bamidele Mann, said in a statement: “We want you (President Tinubu) to protect and cushion the effect of the removal especially on the low incomes and youths to enable us to secure the right to an adequate standard of living and to avoid further hardship.”

  • OPEC  agrees on production cut to stabilise oil prices

    OPEC agrees on production cut to stabilise oil prices

    The Organisation of Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+,   yesterday, agreed to a general production cut for next year and the extension of voluntary cuts by members to stabilise crude oil prices.

    The organisation and its allies agreed to reduce overall production targets between January and December 2024 by  1.4 million barrels per day (bpd). With the reduction,   total production by OPEC and non-OPEC members will stand at  40.463 million bpd.

    After the decision was agreed upon, Saudi Arabia,   the highest production quota,     announced a production cut of one million bpd starting from next month.

    Other members also accepted to extend earlier cuts till the end of next year.

    Saudi’s output is expected to drop to some nine million bpd as against some 10 million bpd recorded last month.

    The schedule of production level agreed at the end of the 35th OPEC and non-OPEC Ministerial Meeting in Vienna, Austria showed a production quota of 1.38 million bpd for Nigeria for next year, the eighth highest among the 20-member group.

    Saudi Arabia has the highest at 10.5 million bpd, followed by Russia with 9.83 million bpd. Sudan has the lowest target of 64,000 bpd

    In a communique issued at the end of the meeting, OPEC+ stated that the decisions were aimed at achieving and sustaining a stable oil market.

    The cartel, which also welcomed the establishment of Dangote Refinery in Nigeria as well as two others in Kuwait and Saudi Arabia,  explained that the production cuts and targets were taken as a precautious, proactive and pre-emptive approach.

    The meeting decided to adjust the level of overall crude oil production for OPEC and non-OPEC participating countries to 40.46 mb/d, starting   January 1   till  December next year.

    A breakdown of the required production level also shows Algeria, 1.007 million bpd; Angola, 1.3 million bpd; Congo, 276,000 bpd; Equatorial Guinea, 70,000 bpd; Gabon, 177,000 bpd; Iraq, 4.4m million bpd; Kuwait, 2.7  million bpd; Nigeria, 1.38 million bpd; United Arab Emirates (UAE), 3.22 million bpd; Azerbaijan, 551,000 bpd; Bahrain, 196,000 bpd; Brunei, 83,000 bpd; Kazakhstan, 1.63 million bpd; Malaysia, 401,000 bpd; Mexico, 1.8 million bpd; Oman, 841,000 bpd; Russia, 9.8  million bpd; Sudan, 64,000 bpd and South Sudan,   124,000 bpd.

    The meeting reaffirmed and extended the mandate of the Joint Ministerial Monitoring Committee (JMMC) and its membership to closely review global oil market conditions, oil production levels and the level of conformity.

    The meeting reiterated “the critical importance of adhering to full conformity, and subscribing to the concept of compensation by those countries who produce above the required production level”, in addition to their already decided production levels.

    The 36th OPEC and non-OPEC Ministerial Meeting is scheduled to hold on November 26, 2023, in Vienna.

    OPEC Secretary General, Haitham Al Ghais, had underlined the importance of enhancing refining capacity globally to meet the growing demand for oil products.

    Al Ghais spoke at the 13th Technical Meeting of OPEC and non-OPEC countries participating in the Charter of Cooperation (CoC).

    He praised OPEC member countries for their exceptional efforts in expanding their refining capacities by constructing refineries in  Kuwait,  Nigeria and the Kingdom of Saudi Arabia.

    The OPEC boss also highlighted the importance of the technical discussions between OPEC Member Countries and non-OPEC countries of the CoC.

    “As usual, this meeting has been organized for the technical experts of OPEC and participating non-OPEC producing countries and is centred on providing an opportunity to exchange views on key factors impacting oil market developments,” Al Ghais stated.