OIL & GAS
Nigeria to award gas flare contract in Q3’19 — Kachikwu
Minister of State for Petroleum Resources, Ibe Kachikwu yesterday said that Nigeria will award contracts for its flared gas by the third quarter of the year.
NNPC, 2019 budget and Baru’s optimism
It was not the first time the Group Managing Director of the Nigeria National Petroleum Corporation, NNPC, had been upbeat about developments in the country’s oil sector in the last three years. But when he told senators recently that Nigeria would meet the oil production target of 2.3 million barrels of oil per day benchmark used in the 2019 budget, he portrayed a sector that is on a rising curve of growth.
Gas Flaring: 800 Companies Bid For Acquisition of 176 Flare Sites
No fewer than 800 companies have bidded for management of 176 gas flare sites in the country, the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said.
Marketers to build 10,000 gas plants in local councils
The Federal Government is pushing forward a bill via the Department of Petroleum Resources (DPR) to force marketers of petroleum products to build new 10,000 gas filling plants in their stations across the country.
Nigeria must stop gas flaring by 2020 — Kachikwu
The federal government yesterday said its target to ensure Nigeria exit the practice of flaring gas next year at its oil fields still stands.
Osinbajo inaugurates LPG plant in army barrack
Vice-President Yemi Osinbajo says one of the objectives of the Federal Government transformation of the oil sector is to stimulate gas revolution and enhance the economy through the utilisation of resources.
NNPC assures of petrol availability during Easter
Nigerian National Petroleum Corporation, NNPC, yesterday, restated its commitment to the sustenance of the present seamless supply and distribution of petroleum products across the country.
Many More Questions for Baru
Who will probe the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, for inflated fuel consumption figures?
FG to look into gradual removal of fuel subsidy, says Finance Minister
The Minister of Finance, Mrs Zainab Ahmed says the Federal Government will look into gradual removal of fuel subsidy as part of strategy to boost revenue.
Oil prices dip nearly 2 per cent
Oil prices fell yesterday, after rising to five-month highs earlier this week on the Organisation of Petroleum Exporting Countries (OPEC)-led production cuts and free-falling Venezuelan output.
IMF Advises Nigeria to Remove Fuel Subsidy
The Managing Director, International Monetary Fund (IMF), Mrs. Christine Lagarde, has advised the Nigerian government to jettison spending on fuel subsidy and expend the money on health, education and infrastructural development.
IMF: Nigeria, others spent $5.2trn on fuel subsidy in four years
Managing Director of the International Monetary Fund (IMF), Christine Lagarde, has disclosed that Nigeria and some other countries spent $5.2 trillion on fuel subsidy since 2015. She said such amount would have been used to improve education, health system, water and infrastructure for the majority poor people in most countries.
MARKETERS RATION PETROL, LOCK GATES AGAINST MOTORISTS IN LAGOS, OGUN
Some marketers of Premium Motor Spirit (PMS), also known as petrol, in parts of Lagos and Ogun states yesterday began to ration the product for motorists as high landing cost takes toll on their businesses. New Telegraph had reported that the landing cost of petrol hit N205 per litre two days after depot owners hiked the ex-depot price from N133.28 per litre official price to N139 per litre. More privately owned filling stations, checks by this newspaper showed yesterday, have begun to ration fuel while others locked gates for motorists.
Panic buying as petrol scarcity hits Ilorin
Scarcity of Premium Motor Spirit on Thursday resurfaced in Ilorin, the Kwara State capital as vehicles queued at few petrol stations in search of fuel.The shortage became noticeable on Wednesday evening as some filling stations shut their gates and refused to sell fuel to motorists, claiming that they could not get fuel supply from the NNPC depot.
Chevron donates hybrid library to Niger school
TEXACO Nigeria Outer Shelf, a subsidiary of Chevron Nigeria Limited, on Thursday, donated a new hybrid library to the Maryam Babangida Girls College, Minna, Niger State.
Oando Foundation harps strategic partnership with stakeholders
Oando Foundation has charged female and budding entrepreneurs to look out and embrace strategic partnerships with local and international organisations, to gain from the immense benefits therein.
Edo Govt Moves to Check Hoarding Of Petroleum Products
Edo State government has warned petroleum marketers hoarding petroleum products and selling above the pump price of N145 per litre to desist from the act, as those found culpable would be made to face the full wrath of the law.
Public Service Negotiating Council begs Buhari to assent to minimum wage bill
Joint National Public Service Negotiating Council, JNPSNC, Trade Union side, has pleaded with President Muhammadu Buhari to expedite action in signing the N30,000 minimum wage bill into law, saying workers have been eagerly looking forward to the new wage.
NLC resolves age-long dispute between agric unions
The Nigeria Labour Congress (NLC) has resolved the 11 years trade dispute between the Agricultural and Allied Employees Union of Nigeria (AAEUN) and Agric and Allied Workers Union of Nigeria (AAWUN).
Minimum Wage: Labour tackles Buhari over delay
Barely one month after the Senate endorsed the National Minimum Wage Bill, organised labour, under the aegis of Trade Union Side (TUS) of the Joint National Public Service Negotiating Council (JNPSNC), has enjoined President Muhammadu Buhari to sign the N30,000 minimum wage into law to put smiles on the faces of Nigerian workers
Micro pension scheme
The National Pension Commission [PenCom] has come up with a laudable pension scheme called Micro Pension Plan (MPP) for the informal sector. The plan is to cover those not involved in formal employment. The target includes those in trades like photography, catering, hairdressing, motorcycle services, tailoring, fashion designing, carpentry, painting etc.