This picture taken on June 8, 2016 shows a fuel storage facility in Warri, Delta State on June 8, 2016. The oil rich Delta region in Nigeria has seen the rise of a new militant group that has vowed to cripple the economy, due to the actions of the Delta Avengers Nigeria’s oil production has dropped to a 20-year low drastically affecting economy. 
International oil benchmark, Brent crude, retreated on Monday, falling below the $50 per barrel mark on worries about growing Chinese fuel exports, more Iraqi and Nigerian crude shipments and a rising US oil rig count.
Should the ongoing strike embarked upon by the Petroleum and Natural Gas Senior Staff Association of Nigeria be allowed to linger beyond Wednesday, most depots in Apapa, Lagos, will run out of fuel stock, our correspondent has learnt.
Global oil benchmark, Brent crude, on Thursday traded above $50 per barrel for the first time in 2016 as supply disruptions and increased global demand continue to fuel a recovery.
The National Leader of the All Progressives Congress, Asiwaju Bola Tinubu, has urged Nigerians not to lament the removal of fuel subsidy, which he described as a heavy yoke that the government could not allow to linger.
Notwithstanding the pains being elicited by the deregulation policy of the Federal Government, major stakeholders in the petroleum sector have maintained that the new era would completely eradicate the recurrent fuel queues and spur more investments in refineries and retail businesses.
Despite the order yesterday of the National Industrial Court sitting in Abuja stopping the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) from embarking on the planned strike over the increase in fuel price, the labour unions have insisted on going ahead with the action beginning today.
The Federal Government has invited the leadership of organised labour to a meeting in the Office of the Secretary to the Government of the Federation on Monday to discuss the increase of fuel pump price from N86 and N86.50k to N145.
After the trillions of naira spent by successive administrations sustaining the corrupt and hugely inefficient fuel subsidy regime, wednesday the Muhammadu Buhari administration finally summoned up the courage to remove the subsidy on petrol, stating that it would now sell for not more than N145 a litre.
Ahead of the federal government’s announcement tomorrow on the removal of subsidy on petrol, Vice-President Yemi Osinbajo has said that the government will have to take tough decisions on the desirability of retaining fuel subsidies, adding that it had become necessary to remove them.
As part of strategies to end the fuel crisis, new refineries will soon be built, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said yesterday.
Contrary to the pledge by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, that lingering fuel scarcity in the country would end on or before Thursday, April 7, marketers and depot owners said on Sunday that consumers might have to endure inadequate supply of the product till May.
Fuel subsidy has not been re-introduced by the Federal Government, according to the Petroleum Products Pricing Regulatory Agency (PPPRA). And the government has not increased the prices of petrol. 
Amid the lingering fuel crisis in the country, there were indications yesterday from the Petroleum Products Pricing Regulatory Agency (PPPRA) that the product may be sold for N88 per litre at the Nigerian National Petroleum Corporation (NNPC) stations and N88.50 in other stations starting from today.
In its bid to reduce fuel importation in the foreseeable future, the Nigerian National Petroleum Corporation (NNPC) has said that nine companies have submitted bids for the co-location of new refineries within the complexes of its three existing refineries in Kaduna, Warri and Port Harcourt.
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Tuesday apologised to Nigerians for his comment on the nationwide fuel shortages, adding that enough measures had been put in place to end them by next week.
