Petrol subsidy: Ezekwesili tackles Buhari, NNPC

A former Minister of Education, Oby Ezekwesili, on Tuesday tackled President Muhammadu Buhari, as the substantive Minister of Petroleum Resources, and the Nigerian National Petroleum Corporation over the lack of transparency in the petrol subsidy arrangement.

NNPC Seeks New Measures to Reduce Losses Incurred on Petrol Imports

The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that it has proposed to the Nigerian Ports Authority (NPA) new measures that could help reduce the loses it incur on imported petrol.


Nigerian crude oil cargoes struggling to find buyers

Nigerian crude oil grades continued to struggle on Tuesday, weighed down by a surplus of unsold June loading cargoes as the July programmes emerged.


N1.4tr spending on fuel subsidy, a misallocation of resources – Emir Sanusi

The Emir of Kano, Malam Muhammadu Sanusi II, has condemned the continued fuel subsidy spending by the Buhari administration, saying it is misallocation of scarce resources.–emir-sanusi-251972.html


Shell’s Oil Spill Dispute with Nigerian Villagers Back in UK Court

Lawyers for the Bodo community in Ogoniland of Rivers State, which was devastated by two major oil spills in 2008, went to court in London yesterday to fend off what they said was an attempt by Shell to kill off their litigation.


Petroleum sector generates N12.132b tax in three months

Nigeria’s petroleum sector contributed Value Added Tax (VAT) of N12.132 billion during the first quarter of 2018, data from the National Bureau of Statistics (NBS) has shown.


Tanker drivers call off strike in Rivers

Tanker drivers in Rivers State on Tuesday called off their weeklong strike following the intervention of the Nigerian National Petroleum Corporation in the disagreement between them and security agents in the state.


‘NNPC, NPA partnership will reduce under-recovery, enhance product supply’

Collaboration between the Nigerian National Petroleum Corporation (NNPC) has said that collaboration between it and the Nigerian Ports Authority (NPA) will help the country reduce expenditures made by the state oil company and limit chances of fuel scarcity.


Other news

Budget 2018: Something to Cheer?

With a rapidly growing population, Obinna Chima wonders if Nigeria’s 2018 budget has what it takes to drive the much-desired growth in the country


CBN: Why We Did Not Reduce Interest Rate

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) rose from its second meeting for the year, expressing apprehension that the late passage and implementation of the 2018 budget, as well as election spending, could trigger inflationary trends and reverse the economic gains made so far, if pre-emptive measures are not adopted.


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