Data from the National Bureau of Statistics has shown that Nigeria’s crude oil and gas mining sector recorded a negative real GDP growth rate of 13.43 per cent in the second quarter of 2023. This marks the 13th consecutive quarter…
The Minister of Power, Adebayo Adelabu, has hinted that the problem in the Nigerian power sector is not equipment but inadequate availability of innovative capability, therefore appealing to Nigerians to stop cursing electricity companies and their workers. He made this…
KPMG Nigeria, a multinational consulting firm, has revised Nigeria’s economic growth forecast for 2023 further downward to 2.65 per cent from the earlier promised 2.85 per cent, based on several factors, including the likelihood of a contraction in the country’s…
The Nigerian Content Development and Monitoring Board (NCDMB) and the Bank of Industry (BoI) have signed an amendment to the Memorandum of Understanding (MoU) on the $50million NOGaPS Manufacturing Fund. The Fund was created by the NCDMB and domiciled with…
The National Security Adviser (NSA), Malam Nuhu Ribadu, says the country is still losing 400,000 barrels of crude oil daily to local and international thieves despite efforts to end the menace. Ribadu confirmed this when he led a presidential delegation…
…Says FG committed to ending fuel importation By Akinyemi Precious The Federal Government has announced it’s intention to reinstate the Port Harcourt refinery. This was made known in a press release by the NNPC signed by the Chief Corporate Communications…
The Independent Petroleum Marketers Association of Nigeria (IPMAN), has condemned what it described as the attempt by State governments to take over the role of the regulator of the downstream petroleum operations in Southeast. Chairman of IPMAN, Enugu Depot, Mr…
An oil theft situation assessment delegation deployed in the Niger Delta by President Bola Tinubu discovered an illegal oil connection on Saturday. From the illegal connection discovered at Owaza in Abia, Nigeria loses an average of 7.2 million dollars monthly,…
The Arewa Oil and Gas Marketers Association (AROGMA), said it has concluded arrangements to invite foreign companies to invest in the domestic gas utilization value chain in the country, especially in the northern part of the country. The Chairman of…
Troops of 6 Division Nigerian Army have continued to crack down on saboteurs of Nigeria’s oil sector in South South Nigeria by destroying a massive illegal refinery in Delta State. Director, Army Public Relations, Brigadier General Onyema Nwachukwu, who disclosed…
