Global stocks sank Wednesday after US President Donald Trump said he was not satisfied with talks that are aimed at averting a trade war with China. Equities were also dented by poor eurozone economic data, and as Trump cast doubt on a planned summit with North Korean leader Kim Jong Un. “Trump (is) continuing to drive uncertainty over global trade,” said analyst Joshua Mahony at trading firm IG. “European markets are following their Asian counterparts lower, as a pessimistic tone from Trump is compounded by downbeat economic data,” he added. Markets had surged Monday after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He said they had agreed to pull back from imposing threatened tariffs on billions of dollars of goods, and continue talks on a variety of trade issues. However, Trump has declared that he was “not satisfied” with the status of the talks, fuelling worries that the world’s top two economies could still slug out an economically pain...
Presidency on Tuesday in Abuja summoned critical stakeholders in the nation’s oil sector and the leadership of security agencies in the country to end the scarcity of petrol in the country.
The News Agency of Nigeria (NAN) reports that the meeting, presided by the Chief of Staff to the President, Alhaji Abba Kyari, is being held behind closed doors.
The meeting is also being attended by the Minister of Petroleum, Mr Ibe Kachikwu, Director-General of the Directorate of State Service (DSS), Lawal Daura, and the Group Managing Director (GMD) of the Nigeria National Petroleum Corporation (NNPC). Maikanti Baru.
Others attending the meeting are the Comptroller-General of Immigration, Alhaji Muhammed Babandede, some presidential aides and other stakeholders in the oil industry.
President Muhammadu Buhari had on Jan. 1, during a nationwide broadcast, expressed sadness over the unnecessary hardships inflicted on Nigerians during the Christmas and New Year celebrations following acute petrol scarcity across the country.
He attributed the hardships to the activities of a few but heartless individuals working within the nation’s oil and gas sector.
Buhari, however, reiterated the determination of his administration to get to the root of the persistent petrol scarcity, and ensure that whichever groups were behind this manipulated blackmail would be prevented from doing so again.
The scarcity is said to be caused by greedy marketers who tried to take undue advantage of the high inter-state movements during the season.
NAN, however, observed that the long queues in filling stations in Abuja and Lagos have disappeared in the last two days as promised by the GMD of NNPC, Maikanti Baru.
Baru also on Friday vowed that Nigerians would not go into 2018 with the scarcity of petroleum products.
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