The Federal Government recorded a revenue shortfall of N13.33billion from gas flaring penalties issued against oil and gas firms in January and February 2023. It was earlier reported that the Federal Government would impose $49million (N22billion) fine on oil and…
Leading Electricity Distribution Company, Ikeja Electric Plc (IE), recently signed a Memorandum of Understanding with two renowned Original Equipment Manufacturers (OEMs), Messrs Kabelmetal Nigeria Plc and Nigerchin Limited for the supply of customised electricity cables for its network. Speaking during…
The Nigerian National Petroleum Company Limited (NNPCL) has given reasons behind the payment of an interim dividend of N123 billion to the Federation Account Allocation Committee (FAAC) for the month of June. FAAC had on Thursday shared N907 billion among…
The Advisory Board for The Nigeria Prize for Literature today announced the longlist of 11 drawn from 143 plays in the running for the 2023 edition of the prize. The genre in focus is Drama. The literature prize is sponsored…
The recent increase in the cost of Premium Motor Spirit, commonly known as petrol, has been attributed by marketers to the devaluation of the naira and the current surge in crude oil prices. The Chairman of the Major Oil Marketers…
In a major step towards bolstering Nigeria’s energy security and promoting the utilisation of its abundant gas resources, the Nigerian National Petroleum Company Limited (NNPCL) and UTM Offshore Limited yesterday in Abuja signed a Heads of Terms (HoT) agreement for…
First batch of petrol, 27 million litres imported by an independent marketer has arrived in the country, putting an end to a downstream monopoly market once enjoyed by the Nigerian National Petroleum Company Limited. The vessel, ST Nnene earlier billed…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that the hike in the price of products due to abrupt removal of subsidy was threatening the survival of their businesses. Chairman of IPMAN Enugu Depot Community, Mr Chinedu Anyaso said…
The House of Representatives is set to commence investigations into non-remittance of revenues to the federation account by the Nigerian National Petroleum Company Limited. This followed the adoption of a motion, ‘Need to investigate the non–remittance of due taxes by…
Federal Ministry of Mines and Steel Development has called for more robust collaboration between it and its agencies to enhance growth in the mining and steel sector. The ministry’s Permanent Secretary, Dr Mary Ogbe, made the call when she visited…
