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A total of N616.19 billion was on Tuesday distributed as Federal Allocation for the month of April, 2019 among the three-tiers of government, consisting the federal, state and local governments. According to a communique issued by…
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The Depot and Petroleum Marketers Association of Nigeria (DAPMAN) says the rise in landing cost of petroleum products has renewed calls for full deregulation. The group therefore, called for deregulation of the downstream sub-sector of…
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The General Manager Lubes, 11Plc, Umesh Malik, Monday maintained that counterfeit lubricant remains the greatest challenge plaguing the industry. This is coming even as the company officially unveiled it Mobil Super 1000 and 2000 peel…
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The Nigerian National Petroleum Corporation (NNPC) said it met its financial obligations to the Federation Account in 2018 by remitting N1.26 trillion as against the N1.22 trillion projected in the 2018 budget, recording a surplus of…
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There is increasing global competition on Nigerian crude oil due to the rise of new production centers across the globe particularly in Africa, and Argentina, Dr. Maikanti Baru, the Group Managing Director of the Nigerian National…
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The Federal Government has declared May 29 and June 12 as national holidays. Minister for Information and Culture, Alhaji Lai Mohammed who made the declaration, also said the May 29 Inauguration Day would be a…
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…Reports 168% conformity rate to cuts in April Following the 14th meeting of its Joint Ministerial Monitoring Committee, JMMC, on Sunday in Jeddah, Saudi Arabia, the Organization of the Petroleum Exporting Countries, OPEC, reaffirmed…
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Nigeria lost $64.05 million, an equivalent of N19.6 billion, to gas flaring in one month, as oil and gas firms operating in the country flared 18.30 billion Standard Cubic Feet (SCF) of gas in January 2019, according to data obtained from…
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The National Bureau of Statistics (NBS) released Nigeria’s Q1-19 GDP numbers on Monday as Nigeria recorded an output growth of 2.01 percent year-on-year (y/y). However, oil sector contraction dragged down the GDP. This is slower than…
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Despite President Muhammadu Buhari’s reported unwillingness to allow for private investments through equity shareholding into the refineries in Kaduna, Warri, and Port Harcourt, key agencies of the government are actually in support of…
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