There is pressure on the Federal Government to introduce economic relief measures as the escalating conflict between the United States and Iran drives up global crude oil prices and pushes petrol costs to record levels across Nigeria. Industry operators, economists, labour unions and private sector leaders have urged the government to deploy the expected windfall […]
The Infrastructure Concession Regulatory Commission has convened the inaugural meeting of the Presidential Project Development Committee for the Ikom Multipurpose Dam and Hydropower Project, marking the formal commencement of the project’s development under a Public-Private Partnership framework. The committee was constituted following resolutions reached at a high-level stakeholder meeting at the Aso Rock Presidential Villa, […]
Stakeholders, including energy experts, economists, and Nigerian workers, have raised alarm over the suspension of petrol imports by the Federal Government, urging urgent price regulation as Dangote Petroleum Refinery takes command of Nigeria’s N14.4tn petrol market, signaling a major shake-up in the nation’s energy sector. Yesterday, News men reported that the Nigerian Midstream and Downstream […]
Global crude oil prices surged above $100 per barrel as of Monday morning as Premium Motor Spirit, PMS, surpassed N1,000 per liter in Nigeria. Brent and West Texas Intermediate crude blends surged by 13 percent and 15 percent to $103.3 per barrel and $107.3 per barrel, respectively, according to oilprice.com. This latest crude price rally […]
Chinese state-run refiners are considering resuming crude imports from the United States after a nine-month suspension, driven by the ongoing supply crisis in the Middle East, S&P Global’s Platts reported on March 9. S&P Global reports that the additional 20% tariffs on US crude remain in place, but analysts and refinery sources indicate they may […]
The Federal Government, through the Nigerian National Petroleum Company Limited, has begun moves to secure crude oil supply for the Dangote Petroleum Refinery through third-party international traders, in a bid to sustain domestic refining operations. Officials, however, warned that the intervention may not immediately translate into lower petrol prices for consumers. Nigerians currently grapple with […]
The Federal Ministry of Humanitarian Affairs and Poverty Reduction yesterday commenced the distribution of food items and other relief materials to 42,000 vulnerable individuals across the 17 local government areas of Yobe State. The initiative forms part of the Presidential Emergency Food and Nutrition Intervention Programme, designed to address hunger, malnutrition and poverty while supporting […]
President Bola Tinubu has directed the Infrastructure Concession Regulatory Commission to guide the implementation of the Federal Government’s National Gas Infrastructure Command Centre strictly under a Public-Private Partnership framework, with zero public funding and no contingent liability to government. The Director-General of the Infrastructure Concession Regulatory Commission, Dr Jobson Ewalefoh, disclosed this at the inaugural […]
The executive order issued by President Bola Tinubu stopping the deduction of management fees and the Frontier Exploration Fund by the Nigerian National Petroleum Company Limited has effectively halted revenue streams that generated about N2.076tn in four years. An analysis of monthly earnings submitted to the Federation Account Allocation Committee and obtained by our correspondent […]
Fresh questions, concerns, and uncertainty have deepened at the oil and gas agencies affected in the wake of President Bola Tinubu’s new executive order directing immediate reallocation of oil and gas revenues to the Federation Account for onward distribution among the three tiers of government. News men gathered yesterday that the directive, which effectively halts […]
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