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A network of 47 youth groups in Nigeria, Arewa Youths Alliance for Progress and Development (AYAPD) has expressed displeasure over the continued shortage of premium motor spirit (PMS) also known as petrol and wants those responsible to be investigated and erring persons or organizations prosecuted. In a statement jointly signed by Engr Jamilu Shittu Dunkuwa and Comrade James Ishaku as chairman and secretary respectively, AYAPD claimed that the situation has triggered some unpatriotic Nigerians to...

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The Nigerian National Petroleum Company, NNPC, Limited says it has discovered 295 illegal connections to its pipeline. Mele Kyari, NNPC Group/Chief Executive Officer stated this on Wednesday at a Legislative Transparency & Accountability Summit in Abuja, organized by the House of Representatives Anti-Corruption Committee. He said some of the illegal connections have been there for years. “We have seen thousands of illegal refineries that we have taken down in the last 45 months. We have...

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ABUJA — President Muhammadu Buhari has said the costly petrol subsidy will end by 2023. He indicated this on Friday during the presentation of the proposed 2023 budget to the national assembly, in Abuja. Buhari had presented a record N20.51 trillion 2023 appropriation bill to the national assembly, earlier on Friday. He said the subsidy was no longer sustainable considering the current fiscal impact. “As we seek to grow our government revenues, we must also...

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The Nigerian National Petroleum Company Limited (NNPC)has said it is ready for a forensic audit of its petrol supply and subsidy management framework. Garba Deen Muhammad, group general manager, public affairs division, NNPC, announced this in a statement on Saturday. Earlier, the Nigerian Customs Service (NCS) had refuted claims by NNPC Limited that citizens consume about 60 million litres of petrol daily. It further alleged that the oil company was supplying an excess of 38...

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ABUJA — The federal government will disclose the identities of high-profile individuals behind crude oil theft in the country says Garba Shehu, the presidential spokesperson Shehu said this on Friday while speaking on ‘daily politics’, a Trust TV programme. According to him, this move is a part of the Federal government’s effort to rid the country’s economy of sabotage. He noted that security operatives had recently raided locations where illegal oil bunkering thrives. He hinted...

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By Handel Patrick (Staff Reporter)   The Independent Petroleum Marketers Association of Nigeria (IPMAN) has lamented the excessive taxes being by its members in the south-eastern states. The Chairman of IPMAN, Enugu Depot Community in charge of Anambra, Ebonyi and Enugu state, Mr Chinedu Anyaso, alleged that governors in the South East were not interested in the functionality of depots, but rather on taxing IPMAN members. Speaking during an emergency meeting in Anambra on Wednesday,...

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The Russia and Ukraine standoff, vis a vis boycott of Russian gas has triggered significant disruptions and created a huge shortage in the global gas supply chain. Available data indicate that Russia is the world’s largest natural gas exporter; exporting 238 billion cubic meters in 2020 and accounting for about 45 per cent the EU’s imports in 2021. It implies that any dislodgement in Russia’s gas supply would leave a deep crater that must be...

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Minister of Finance, Zainab Ahmed, has called for the removal of fuel subsidy, saying the retention was hurting the economy and impeding investments in human capital development. Ahmed who spoke on Tuesday in Abuja at the launch of the Nigeria Development Update (NDU) 2022 report by the World Bank, said N4.5 trillion spent on subsidies would have been invested in health and education. NAN quoted Ahmed explaining that if subsidy was not in the budget,...

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By Edith Ike-Eboh and Emmanuel Afonne Activities for the week at the Nigerian National Petroleum Company Limited (NNPC Ltd), started with a cheering news that President Muhammadu Buhari will unveil the new NNPC on July 18. This was disclosed within the week by the Group Managing Director/Chief Executive Officer of NNPC, Malam Mele Kyari, at the opening ceremony of the 8th African Petroleum Congress and Exhibition (CAPE VIII) which held in Luanda, Angola. Kyari said...

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ABUJA — Automobile experts have expressed optimism that Nigerians will be able to save about 40% of energy cost with the taking off of the Autogas conversion initiative which sought to convert ordinary PMS/gasoline vehicles to run on the LGP and LPG Gases. The Federal Government, through the office of the Minister of State for Petroleum Resources, Timipre Sylva, had in January 2022, said that Nigeria would begin the conversion of petrol-powered vehicles to Autogas...

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