The Executive Secretary of the Nigeria Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote, has said that Nigeria’s oil and gas sector attracted over $60 billion Foreign Direct Investment (FDI) in the past 12 years, following the enactment and implementation of the Local Content Act. Wabote, who gave this figure in an interview […]
The National Bureau of Statistics (NBS) on Tuesday, September 21, reported that consumers of Liquefied Petroleum Gas (LPG/cooking gas in Nigeria paid N4,456.56 in August for an average price of 5kg cooking gas, representing 101.17 percent increase over the price of N2,215.33 paid for the same volume of gas in August 2021. The Bureau in […]
The Federal Government hinted on Thursday that barring any hitch in the ongoing rehabilitation works on the Port Harcourt refinery, the project will be completed by December this year and the refinery will resume full production. The Minister of State for Petroleum Resources, Chief Timipre Sylva, disclosed this to State House correspondents after the Federal […]
Barring unforeseen circumstances, the Nigerian National Petroleum Company Ltd (NNPCL) is expected to sign a Memorandum of Understanding (MoU) today on a 7,000km gas pipeline project, estimated at a cost of $25 billion, with National Office of Hydrocarbons and Mines of Morocco and the ECOWAS Commission. The signing of the agreement is scheduled to hold […]
The Nigerian Communications Commission (NCC) has partnered the Nigerian Security and Civil Defence Corps (NSCDC) to tackle some of the criminal activities bedeviling the telecom industry, such as telecom equipment vandalism and fraudulent registration of Subscriber Identity Module (SIM) cards among others. The Executive Vice Chairman of NCC, Prof. Umar Danbatta, who addressed a gathering of senior […]
The Nigerian National Petroleum Company Limited (NNPCL) on Sunday disclosed Nigeria had been losing $700 million monthly to oil theft and vandalism at terminals in the upstream sub-sector of the nation’s hydrocarbon resources industry The group general manager of the National Petroleum Investment Management Services (NAPIMS), a corporate services unit in the upstream directorate of […]
Lagos Chamber of Commerce and Industry (LCCI), one of Nigeria’s leading organized private sector (OPS) advocacy groups, on Tuesday set some key priorities for the Federal Government to concentrate on to achieve the objectives of its ongoing economic recovery agenda and by so doing, improve the socioeconomic well being of the citizenry. The OPS group, […]
—-as Reps, Customs query daily subsidy claims by coy The Nigerian National Petroleum Company Limited (NNPC Ltd) has reacted to allegations of fraud in the fuel subsidy regime, saying it is prepared to open its books for a forensic audit of fuel supply and subsidy management over the past years. The company, in a […]
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Malam Mele Kyari, has disclosed that Nigeria will end importation of Premium Motor Spirit (petrol) by the middle of 2023. The NNPC boss hinged the projection on the gradually improving crude oil refining capacity of the nation’s refineries as well as […]
Nigeria’s Vice President, Prof. Yemi Osinbajo, on Wednesday departed Abuja for the United States (U.S) to seek global partnerships and support for Nigeria’s recently inaugurated Energy Transition Plan. The Senior Special Assistant to the President on Media and Publicity Office of the Vice President, Laolu Akande, gave this hint in a statement which indicated that […]