Presidency Says Security Agencies Are Working to End Oil Theft

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...

Petroleum Marketers Lament Excessive Taxes In South East

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,...

Russia-Ukraine War and Global Gas Supply: Nigeria as `a Buffer’

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...

Finance Minister, Others Advocates For Removal Of Fuel Subsidy

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,...

NNPC Weekly: High Expectations as Buhari Unveils New NNPC

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...

Experts Foresee Nigerians Saving 40% of Energy Cost from Autogas Conversion

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...

IPMAN Alert Nigerians To Prepare For Worst Fuel Crisis

KANO — The Independent Petroleum Marketers Association of Nigeria (IPMAN) has alerted Nigerians to prepare for the worst fuel crisis unless the Federal Government prevails on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to pay its members their outstanding claims amounting to over N500 billion. Bashir Danmalam, the IPMAN chairman in Kano state made the terse remarks while addressing a news conference in Kano, maintained that the failure of the NMDPRA to pay...

Long Queues Resurface In Filling Station In Abuja

ABUJA — The Nigeria National Petroleum Company (NNPC) has expressed concern about the sudden appearance of queues in parts of the Federal Capital Territory, Abuja. General Manager, Group Public Affairs Division of the NNPC, Garba Deen-Mohammed, in a statement, however, assured residents not to panic as normalcy would return as quickly as possible. According to the statement, the queues are due to low load-outs at Depots, which usually happen during long Public Holidays; in this...

PENGASSAN Vows to Address Casualisation in Oil, Gas Industry

By Esenvosa Izah LAGOS — The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) said it would ensure that issues of casualisation in the oil and gas industry are reduced to the barest minimum. PENGASSAN’s President, Mr. Festus Osifo, made this known at a media parley with the Labour Writers Association of Nigeria held on Tuesday in Lagos. Osifo also made the declaration as part of the union’s congratulatory message to workers in...

Imo Illegal Refinery Explosion: Death Toll Rises To 110 – Official

OWERRI — The death toll in the illegal refinery explosion in Imo State has risen to 110, the National Emergency Management Agency (NEMA) has said. Mr. Ifeanyi Nnaji, who is the agency’s Head of Operations in the state, confirmed the toll to journalists on Monday. It was earlier reported that an unconfirmed number of people were killed in the explosion that occurred at an illegal refinery site on Friday night. The unauthorized refining plant is...

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