Petrol, electricity in Nigeria among the cheapest in Africa- FG
The Federal Government has defended the recent hike in the price of petrol.
It said despite the recent increase in the price of petrol to...
No inflation in Ajaokuta-Kaduna-Kano pipeline project- NNPC
The Nigerian National Petroleum Corporation (NNPC) has dismissed the allegation that the Ajaokuta-Kaduna-Kano gas pipeline project was inflated to the tune of $1.53bn.
The NNPC’s...
Siemens best qualified to rehabilitate power sector- Minister
The Federal Government has revealed that the German firm, Siemens AG, was chosen to expand Nigeria’s power grid because the company was best qualified...
Edo Modular Refinery to meet 100% of black oil demand
The Edo Modular Refinery operated by Edo Refinery and Petrochemical Company Limited is expected to meet 100 per cent of Nigeria’s Low Pour Fuel...
No provision for fuel subsidy in revised budget- Buhari
President Muhammadu Buhari has stated that no provision was made for fuel subsidy in the Revised 2020 Budget, noting that about N1.7trn has been...
FG directs 9,000 filling stations to install gas facilities
The Federal Government, through the Department of Petroleum Resources, has directed 9,000 filling stations in the country to commence the installation of facilities for...
Western firms planning a $5bn investment in power sector
The Federal Government has revealed that a consortium of Western investors has presented a plan to invest over $5bn in Nigeria’s power sector.
According to...
FG not financially able to pay fuel subsidy- Minister
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has revealed that the Federal Government is not currently financially able to pay subsidy,...
CBN releases Guidelines for N250bn Intervention in Gas
By Ignatius Ushie
The Central Bank of Nigeria (CBN) has released the guideline for the recently introduced N250 billion intervention facilities to help stimulate investment...
OPEC+ reduces output by 7.7m barrels per day
The Organisation of Petroleum Exporting Countries and allies (OPEC+) is currently cutting output by 7.7 million barrels per day until December to support prices...
