Lexy Blog

In the wake of the ongoing strike action which has led to massive protests across various parts of the country over Federal Government’s withdrawal of fuel subsidy, repair of the nation’s refineries and provision of basic amenities is key as fuel subsidy removal will cushion the current socio-economic implications in the country, writes ALEXANDER CHIEJINA The implementation of the long-awaited removal of fuel subsidy has drawn public ire and pitched civil society against the government.   When the Federal Government finally implemented its action which jacked up the fuel pump price of Premium Motor spirit (PMS) otherwise known as ‘Petrol’ from N65to N141 per litre Sunday last week, Nigerians from all works of life took to the streets to protest against government's decision to remove popular fuel subsidies. As tens of thousands joined demonstrations, the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC)-the two major umbrella bodies of workers’ unions in the country

In the wake of growing insecurity in the country, the Federal Government needs to be decisive in dealing with this challenge currently portraying the nation in bad light with a view to safeguard lives, secure people’s investments and attract foreign investors, writes ALEXANDER CHIEJINA Across the globe, investors are faced with the task of making business decisions that would not only bring about business growth but also contribute towards the economy of any nation where their investments are domiciled. Following recent reports by the United Nations Conference on Trade and Development benchmark (UNCTAD) which reveals that about $1.4trillion investment capital circulates globally, this figure indicates that capital in the global economy is volatile with lots of indicators considered by investors before deciding on the country to invest in. Among this critical index is security. As insecurity remains a risk factor investors across the globe dread, the uncertainty insecurity creates is

Plans by the Federal Government to deregulate the downstream oil and gas sector (petroleum refining & marketing) have been seen as a move geared towards opening up the sector to new investments. However, the outlook for the industry this year seems bleak if the Petroleum Industry Bill (PIB) is not passed into law amid ongoing probe of the fuel subsidy regime, writes ALEXANDER CHIEJINA The recent six days old strike called upon by the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) - the two major umbrella bodies of workers’ unions over hike in the pump price of Premium Motor Spirit (PMS), -from N65 to N141 per litre is one industrial action that would linger in the minds of Nigerians for years to come, especially as it was accompanied by a nationwide protest. Like wide fire, the protest spread across the country; from East to West, North to South as Nigerians took to the streets in outright rejection of the New Year gift dished out to them by the Federal Governmen