The Minister of Power, Adebayo Adelabu, has announced that over 40% of Nigerians now enjoy more than 20 hours of electricity daily. He made this statement on Sunday while reviewing the activities of the Ministry of Power over the past year. Adelabu highlighted that these achievements form part of the government’s broader initiative to provide […]Read More
Maire Tecnimont SpA, the contractor responsible for the rehabilitation of the Port Harcourt refinery, has announced that it will provide an update on the project’s completion by or before 2 October. The Italian firm communicated this through Olajide Oyewole LLP, a law firm, in response to a request from human rights lawyer Femi Falana for […]Read More
The Nigeria Extractive Industries Transparency Initiative (NEITI) says outstanding collectible revenues due to the federal government in the oil and gas industry have risen to $6.071 billion and N66.4 billion as of June 2024, respectively. NEITI made this known on Thursday during the public unveiling of its 2022 and 2023 Independent Oil and Gas Industry […]Read More
The Federal Government, through Vice President Kashim Shettima, has welcomed ExxonMobil’s proposed $10 billion investment in Nigeria’s deep-water oil operations, describing it as a clear testament to the administration’s economic reforms and investment-friendly policies. This is coming just as the international maritime giant, DP World, has announced plans to develop a multibillion-dollar port project in […]Read More
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has explained why independent marketers are unable to source petrol directly from the Dangote Refinery. Speaking at a press conference in Lagos on Tuesday, PENGASSAN president Festas Osifo attributed the issue to a price discrepancy between the rates at which the Nigerian National Petroleum […]Read More
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has urged the Federal Government, through the Nigerian National Petroleum Company (NNPC) Limited, to increase its stake in the Dangote Refinery to 45% in order to enhance the nation’s energy security. Festus Osifo, the President of PENGASSAN, made this statement on Tuesday during the […]Read More
Aliko Dangote, the Chief Executive Officer of Dangote Refinery, has criticised the Nigerian National Petroleum Company (NNPC) Limited for pulling out of the original agreement to acquire a 20% stake in his refinery, labelling the move as “a big mistake.” Speaking during an interview with Bloomberg TV in the United States on Monday, Dangote explained […]Read More
Aliko Dangote, Chief Executive Officer of Dangote Refinery, has addressed the ongoing concerns about fuel pricing, asserting that the petrol sold by his refinery to the Nigerian National Petroleum Company (NNPC) was offered at a price lower than what the NNPC had imported. Dangote made this clarification on Monday during an interview with Bloomberg TV […]Read More
President Bola Tinubu has announced that the elimination of the fuel subsidy has significantly cut Nigeria’s daily petrol consumption, reducing it from several million litres to approximately 30 million litres. Speaking on Thursday during a meeting with former lawmakers at the State House in Abuja, President Tinubu highlighted that the subsidy’s removal has given the […]Read More
The Nigerian government has initiated discussions with Libya on the construction of a gas pipeline connecting the two nations. This was revealed by Nigeria’s Minister of Petroleum (Gas), Ekperikpe Ekpo, during a meeting with Libya’s Oil Minister, Dr. Khalifa AbduAlsadik, at the Gastech Exhibition and Conference 2024 in Houston, USA. Ekpo indicated that the proposed […]Read More
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