The Arewa Youth Federation (AYF) has demanded that the Minister of State for Petroleum Resources of Nigeria Timipre Sylva should step down. A press statement signed by the president AYF, Comrade Adamu Kabir Matazu and the National Mobilization Officer Mr. Yusuf Maje on Sunday states that the union came to a conclusion after an emergency meeting with representatives of youth Read More
Nigerians face another possibility of fuel scarcity as Independent Petroleum Marketers Association of Nigeria (IPMAN) are reluctant to lift or buy fuel from private depot owners who have increased pump price of fuel from N148/litre to N157/litre. IPMAN’s National Vice President, Alhaji Abubakar Maigandi said the N9/litre difference, which is about 6.08 per cent increase, has culminated in the gradual Read More
Last week the World Bank warned that Nigeria would spend N3 trillion on petrol subsidy in 2021. That is about 400 per cent of what the federal government spends on health and education annually. Government has defiantly ignored the warning because electricity and petrol subsidy is government way of bribing the populace to overlook the horrendous looting by politicians and Read More
The Federal Executive Council (FEC) Wednesday approved the take over the reconstruction of 21 federal roads across the six geopolitical zones of the country by Nigerian National Petroleum Corporation (NNPC). Briefing State House correspondents at the end of the weekly FEC meeting president over by Vice President Yemi Osinbajo, Minister of Works and Housing, Mr Babatunde Fashola, said the approval Read More
For every service organisation, feedback from the receiving public is germane. It helps in fine-tuning policies, programmes and operational modalities. This was the tthrust of a recent parley between road users and FRSC. Writes …… Drivers of petrol tankers and trucks, who have often resisted penalties for sundry offences, had an opportunity to confront officials of Federal Road Safety Commission Read More
The Witness, a credible Nigerian newspaper in digital and print formats, is set to launch a non-governmental organization, ‘The Witness Newspaper Foundation’, in commemoration of its fourth year anniversary. The event is billed to hold on Sunday, October 24th, 2021, at the prestigious Lagos Continental Hotel (formerly Intercontinental Hotel), Victoria Island, Lagos. A statement on Monday by the managing director of the newspaper, Read More
Amidst dwindling resources, the federal government may have to pay more in oil subsidies as the rise in oil prices in the global market means a larger chunk of oil revenue will have to go into subsidy payment. According to data from oil price, the international oil benchmark, Brent crude, increased 1.51 percent or $1.86 to $82.77 per barrel, while Read More
Days for continued existence of Department of Petroleum Resources (DPR) as one of the regulatory agencies in the petroleum sector are numbered with confirmation of the appointment of board members of the Nigerian Upstream Regulatory Commission (NURC) by the Senate Wednesday. President of the Senate, Ahmad Lawan said DPR ceases to exist once the approved board of NURC swings into Read More
Nigerian National Petroleum Corporation (NNPC), on Sunday, gave the red light signal to warn Nigerians against the activities of some fraudsters using the social media to circulate information that it is recruiting staff. Garba Deen Muhammad, spokesman of the group, in a statement, while urging the public not to fall to the antic, said whenever such exercise would be conducted Read More
The Nigerian National Petroleum Corporation (NNPC) says it recorded a total crude oil and gas export sales of $219.75m in May 2021, representing 180.29% increase on sales from the previous month of April 2021. This is contained in the May 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press release by the Group General Read More
The Nigerian Organized Private Sector (OPS) has said the consequences of the current VAT ‘war’ between the Federal Inland Revenue Service (FIRS) and some state governments, portends grave danger for the business community and the fragile economic recovery being witnessed in Nigeria if the issue is not resolved amicably. Rivers State has since enacted a VAT law which mandates all Read More
Nigerian National Petroleum Corporation (NNPC) has expressed its willingness to partner with Nigerian Exchange (NGX) Limited on financing options in the near term. The company made this statement during a courtesy visit To NNPC by the Management of NGX led by the Chairman, NGX, Mr. Abubakar Balarabe Mahmoud. Mahmoud said “As an Exchange, we are always interested in developing strong Read More
Seplat Energy Plc and its Board Chairman, Dr. ABC Orjiako have emerged winners at the Energy & Corporate Africa Leadership Award Night/Dinner held last week at the Hilton Post Oak, Houston, Texas, Unite States for outstanding indigenous performance. The award was the climax of the Annual Sub-Saharan Africa Oil/Gas Conference that started from 12th August to 13th August with the Read More
… It’ll attract investments says Buhari … Promote transparency in sector – NNPC … May lead to revenue shortfall – FIRS ‘…Good start for host communities but …’ … Groups allege bias; say it’s provocative After over a decade of wait, the Petroleum Industry Bill (PIB) was finally passed by the National Assembly and signed into law by President Muhammadu Buhari, Read More
The signing of the Petroleum Industry Bill (PIB) into law by President Muhammadu Buhari on August 16th, 2021, after it was passed by the National Assembly, has added yet another Buhari signature on the Nigerian Oil and Gas sector. Equally, the Presidential assent which turned the Bill into Petroleum Industry Act (PIA) of the National Assembly has placed Muhammadu Buhari Read More
A significant step towards redeeming the pledge by the Nigerian National Petroleum Corporation (NNPC) to intervene in the perennial electric power supply challenge in Maiduguri, Borno state, was taken Tuesday with the execution of the Engineering, Procurement, and Construction (EPC) and Equipment Procurement contracts for a 50Megawatts (MW) Emergency Power Project in Maiduguri. The project which is an integral part Read More
The Comptroller General, Nigeria Customs Service (NCS), Hameed Ali, has blamed the Nigerian National Petroleum Corporation (NNPC) for the high rate of smuggling of fuel across the country’s land borders. He said he had on many occasions proposed to the NNPC to establish petroleum retail outlets in neighbouring countries to curtail smuggling of fuel but that the state oil company Read More
In a bid to strengthen and reposition the Nigerian National Petroleum Corporation (NNPC) towards attaining global excellence and profitability, management of the corporation has announced the promotion and redeployment of some staff to fill key vacant positions. In a statement released by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru on Monday, Mr. Billy Okoye has been Read More
The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of ₦43.57 billion in April 2021 representing a 23.64% increase over the ₦35.24 billion surplus it recorded in March 2021. This was contained in the April 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR), made available to journalists Sunday in Abuja. Trading surplus or trading deficit Read More
The Nigerian National Petroleum Corporation (NNPC) says it has plans develop a comprehensive divestment policy for International Oil Companies ( IOCs) operating in the country to protect strategic national interest. Mr Mele Kyari, the Group Managing Director, NNPC disclosed this in Lagos during the 2021 Society of Petroleum Engineers (SPE) Nigeria Annual International Conference and Exhibition (NAICE). The conference has Read More
Today, it may seem surprising to some to see that the Yobe state government has recorded a wide range of accomplishments, ranging from the health sector to education and infrastructure. It is noteworthy, however, to commend Governor Mai Mala Buni’s leadership for these accomplishments. Although, there were legitimate concerns as to how the governor would combine running a state and Read More
Analysts have expressed concern that the Petroleum Industry Bill (PIB) has failed to restrict the presidency from doubling as petroleum minister. They also expressed discomfort over the bill to provide for plans by government to leverage its hydrocarbon resources to build cleaner energy for the future. They also believe the 30 per cent provision in addition to the 10 per Read More
The Nigerian National Petroleum Corporation (NNPC) has concluded plans to award rehabilitation contracts for the 110,000 barrels a day, b/d Kaduna and the 125,000 b/d Warri refineries by the end of July. Group Managing Director of the Corporation,Mele Kyari said that NNPC aims to sign engineering, procurement and construction (EPC) contracts for the facilities within the next three weeks. The Read More
The Group Managing Director of Nigerian National Petroleum Corporation (NNPC) Mele Kyari, said the government corporation will borrow to fund its stake acquisition in Dangote Refinery. It can be recalled that last month, NNPC announced plans to acquire a 20 percent minority equity stake in Africa’s biggest oil refining facility, Dangote Refinery, Lagos, to help further ensure an undisrupted supply Read More
Activities of fuel smugglers across Nigeria’s borders to neighbouring countries may have cost the Nigerian National Petroleum Corporation (NNPC) whooping N4bn going by the current retail price of PMS in the country. Speaking recently at a stakeholders meeting organised by the NNPC on how to stop smuggling in the country, GMD of the corporation, Mele Kyari disclosed that smuggling across Read More
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