The Central Bank of Nigeria has attributed the significant decline in oil revenue for the third quarter of 2024 to ageing pipeline infrastructure and operational inefficiencies. According to the apex bank’s latest economic report for the third quarter of 2024,…
The Nigerian National Petroleum Company Ltd. (NNPC Ltd) has identified 4,800 illegal connections on 5,000 kilometres of oil pipelines nationwide. The Group Chief Executive Officer of NNPC Ltd, Mele Kyari, revealed this during a presentation before the Senate Committee on…
The Federal Government has so far paid $4.04bn to five international oil companies as cash call arrears repayment and has spent N12.43bn this year on pipeline protection and maintenance, it was learnt on Sunday. Latest update on pipeline security/maintenance cost…
By Seun Ibiyemi The Federal Government has enlisted the support of the Nigerian Navy to identify pipelines that may hamper the building of the Bonny Deep Seaport in Rivers State. The Minister of Transportation, Rt. Hon. Chibuike Rotimi Amaechi, who…
