Business
SALTCCIMA demands petrol price hike reversal to save businesses
The Salt City Chamber of Commerce, Industry, Mines, and Agriculture has called for an immediate return to the old prices of Premium Motor Spirit to prevent the collapse of small businesses in Ebonyi State.
SALTCCIMA, in a statement, decried the impact of recent hikes in the prices of PMS and diesel on businesses in the state.
The SALTCCIMA President, Chukwuemeka Eze, said the chamber acknowledged the scarcity of PMS and diesel across the country, which had led to an increase of over 50 per cent in fuel prices and severely strained businesses, especially agriculture and commerce.
Premium Motor Spirit and diesel are the lifelines of our businesses and daily lives. The recent price hikes have placed a heavy burden on business operations, especially in an agrarian state like Ebonyi.It is becoming increasingly difficult to stay silent amidst the hardships our people are enduring,” Eze added.
He said while the government’s efforts to promote nano, micro, small, and medium-scale enterprises were commendable, the continuous increase in fuel prices remained the greatest threat to the survival of those businesses.
Our members, mostly NMSMEs, are bearing the brunt of this policy.
The rising fuel costs are crippling commerce, production, and agriculture in Ebonyi,” he noted.Eze pointed out that the chamber was concerned that the price hike coincided with Dangote Refinery’s announcement that the Federal Executive Council would determine the prices of its products.
“This leaves a sour taste in the mouth,” the chamber president stated.
He urged the implementation of the Petroleum Industry Act 2021, specifically Section 205, which was expected to lower the prices of petroleum products but has not produced the desired results.
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Business
Traders shut down Enugu ‘s Obollo-Afor market over N25,000 haulage levy
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
All shops and markets at Obollo-Afor, Udenu Local Government Area of Enugu State were shut yesterday, as traders staged a peaceful protest against alleged selective collection of a N25,000 haulage levy in the market.
The traders, who locked their shops and took to the streets in large numbers, carried placards with various inscriptions, alleging that the Enugu State Internal Revenue Service (ESIRS) had singled out Obollo-Afor Market for the collection of N25,000 haulage fee on every truckload of goods loaded or offloaded in the market.
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
Addressing officials of the Udenu Local Government Council at the council secretariat, where the protesters marched to present their grievances, Chairman, Obollo-Afor Market Traders Association, Charles Eze, lamented that truck operators bringing foodstuffs, building materials, and other commodities to the market had stopped coming because of the levy.
Business
Nigeria’s oil production dropped by 4% in July – NUPRC
“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”
The Nigerian Upstream Regulatory Commission (NUPRC) data has shown Nigeria’s average daily oil production fell by four percent in July, 2026.
According to the NUPRC, Nigeria produced 1.505 million barrels per day (bpd) of crude oil and 0.17 million bpd of condensate, bringing the combined daily production to 1.67 million bpd.
The commission said the country met and exceeded its Organisation of the Petroleum Exporting Countries (OPEC) quota of 1.5 million bpd for the third consecutive month.
“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”
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