…becomes first state-owned oil firm to sign Initiative The Nigerian National Petroleum Company Limited (NNPCL) has signed the United Nations Global Compact Letter of Commitment as a participant at the ongoing 78th United Nations General Assembly (UNGA) in New York, United States. The company confirmed its signing for the global initiative letter in a statement […]
President Bola Tinubu has advised foreign investors to explore for good returns the opportunities in the Nigerian economy through investments. Tinubu made the appeal on Wednesday in New York, when he rang the NASDAQ’s closing bell as part of the proceedings at the Executive Business Dialogue in the United States. Speaking at the event, the […]
The Ambassador of Denmark to Nigeria, Mr Sune Krogstrup, has expressed his country’s readiness to increase investment and provide support for Nigeria’s efforts in developing its renewable energy sector. The Ambassador, who made the promise during an interview with the News Agency of Nigeria (NAN) in Abuja, spoke on Denmark’s roles in the global renewable […]
Indications are strong that the Nigerian National Petroleum Company Limited (NNPCL) and other oil marketers in the country may further adjust fuel pump prices before the year ends based on the spiking trend of crude oil prices in the international market. In the past two weeks, the Brent crude oil and other variants’ prices have […]
The Nigerian National Petroleum Company Limited (NNPCL) weekend sealed an agreement with Indorama Petrochemicals Company Limited to deepen the implementation of Nigeria’s Nigasification strategy. According to the Group Chief Executive of the NNPCL, Mallam Mele Kyari, the initiative will help to unlock about $18bn revenue for Nigeria and also enable the parties to the deal […]
Nigeria’s public debt stock has surged to N87.38 trillion (US$113.42 billion) in Q2 2023 from N49.85 trillion (US$ 108.30 billion) in Q1 2023, representing a 75.27% growth on a quarter-on-quarter basis. The National Bureau of Statistics (NBS), the national statistics coordinating agency in Nigeria, reported on Thursday, in its ‘Nigerian Domestic & Foreign Debt Q2 […]
Governor of Anambra State, Chukwuma Soludo, has agreed to meet with the Independent Petroleum Marketers Association of Nigeria (IPMAN) next week with a view to reconciling the discrepancies and paying the N900 million debt owed fuel contractors who supplied diesel for streetlight generators in the state. The governor’s decision was conveyed in a letter by […]
The Organization of Petroleum Exporting Countries (OPEC) on Thursday disclosed that fossil fuels continue to make up 80% of the global energy mix. The oil cartel, in a statement debunked the assertion by the International Energy Agency (IEA) that fossil fuels demand would peak before 2030, adding that the assertion is not made on data-based […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued letters of award to 42 companies/entities that were successful in the bid for 49 Flare Sites enlisted during the 2022 Nigerian Gas Flare Commercialisation Programme (NGFCP) Auction process. The petroleum regulatory body confirmed the issuance of the letters of award via a press statement issued on […]
The Lagos Chamber of Commerce and Industry (LCCI) has advised the Federal Government to establish dedicated websites that will guide foreign investors and other with the relevant information about investment opportunities in Nigeria. In a statement signed by its President/Chairman of Council, Asiwaju (Dr.) Michael Olawale-Cole, the organized private sector (OPS) group maintained that doing […]