Petroleum marketers have blamed the current scarcity of petroleum products on the alleged shady deals between the Nigerian National Petroleum Company Limited, NNPCL, Depots and Petroleum Products Marketers Association of Nigeria, DAPPMA, and the regulatory agency, Nigerian Midstream and Downstream…
The Minister of Budget and National Planning, Abubakar Bagudu has explained that Nigerian National Petroleum Company Limited, NNPCL, is using fuel subsidy savings to sustain the product’s current pump price. The minister made this known on Channels Television on Saturday,…
Nigeria’s payment of subsidy on electricity has gulped a total of N633.30bn in the first quarter of 2024. This figure represents an increase of 151% from N252.76bn previously reported by the Nigerian Electricity Regulatory Commission (NERC). In its latest data,…
The African Development Bank Group (AfDB) has approved a loan of $500 million to the Federal Republic of Nigeria. According to a statement from the bank, this funding will finance the first phase of the Economic Governance and Energy Transition…
Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo today hosted the leadership of 3W Alliance Limited led by its Chairman, Dr. Umaru Mutallab, and the Managing Director of Oil and Gas Free Zone Authority (OGFZA), Mr. Bamanga Usman…
The House of Representatives Special Joint Committee investigating factors working against the petroleum sector has directed the Nigerian National Petroleum Company Limited to halt what it called the mortgage of Nigeria’s future crude oil until it concludes its assignment. Recall…
The Nigerian Midstream and Downstream Petroleum Regulations Authority (NDMPRA) says its proposed Midstream and Downstream Petroleum Fees Regulations will consolidate fees prescribed for midstream and downstream activities into a single document. Mr Ogbugo Ukoha, Executive Director, Distribution Systems, Storage and…
Managing Director, Falcon Corporation, Mrs Audrey Joe-Ezigbo, and Minister of Energy, Ghana, Hon. Herbert Krapa, have been unveiled as speakers for the 47th edition of the Nigeria Annual International Conference and Exhibition (NAICE) 2024. The duo join a list of…
Subsidy payments on electricity gulped over N633.30 billion in the first quarter of 2024, representing a 150.5 per cent increase from N252.76 billion in Q4, 2023. The total amount spent on subsidy in the first three months of the year…
By Matthew Denis Despite the directive by President Ahmed Tinubu for NNPC to trade with the Dangote Refinery, independent marketers express scepticism, indicating that only the Nigerian National Petroleum Corporation (NNPC) can manage the pricing deal currently in play. The…
