Move to ban Russian oil threatens Nigeria’s fiscal stability

By Kingsley Jeremiah, Abuja • India may dump country for discounted Russian crude Nigeria may face fresh hurdles as the geo-political tension in Europe, yesterday, escalated with moves to officially ban Russian crude oil. The European Commission proposed a full ban on Russian crude oil following the continued attack on Ukraine. The proposed ban, which […]

Gunmen attack Dangote Refinery in Lagos

  One hoodlum was killed while 19 others escaped when they attacked the Dangote Refinery located in the Lekki Free Trade Zone area of Lagos State. The Lagos State Police Command made this known in a statement on Tuesday. According to Command’s Public Relations Officer, Benjamin Hundeyin, the attack occurred on Monday and police operatives […]

Fuel subsidy removal suspension: Buhari only postpones evil days – Ex ACF scribe

From Sola Ojo, Kaduna Erstwhile Secretary of the foremost northern sociocultural group Arewa Consultative Forum (ACF) Anthony N Z Sani on Tuesday disagreed with President Muhammadu Buhari’s back down on earlier planned removal of subsidy on premium motor spirit popularly known as petrol. To him, Nigerians would understand the need for such touch but necessary decision […]

NNPC targets highest capitalisation in Africa, to shed toxic liabilities

NNPC targets highest capitalisation in Africa, to shed toxic liabilities By Adewale Sanyaolu The Nigerian National Petroleum Company (NNPC) Limited, has unveiled plans to shed some of its toxic liabilities under a new legislation – the Petroleum Industry Act(PIA). This was even as it said it will be the largest and most capitalised company in the whole […]

Supreme Court fixes Jan 17 for hearing on Rivers-Imo oil well dispute

From Tony John, Port Harcourt The Supreme Court order of injunction restraining the Federal Government and its agencies from ceding oil wells in Akri and Mgbede, Rivers State to Imo State, still subsists, the court ruled on Monday. At the resumed hearing of Suit No. SC.1037/2020 filed by Attorney General of Rivers State (plaintiff) vs Attorney […]

Rivers governor storms Supreme Court in oil well battle with Imo

From Godwin Tsa, Abuja Proceedings in the ongoing suit instituted by Rivers State against Imo State over ownership of 17 oil wells were witnessed by Governor Nyesom Wike, who arrived at the Supreme Court complex on Monday for the hearing of the case. The Court ordered the Federal Government to, within 15 days, file its […]

I don’t have N9.7bn in my account, Ex-Petroleum Minister, Kachikwu tells Malami, Attorney-General

I don’t have N9.7bn in my account, Ex-Petroleum Minister, Kachikwu tells Malami By Ikechukwu Nnochiri, Abuja Former Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has denied allegation that he had while in office, received the sum of N9.7billion in his personal account. Kachikwu, in a petition he wrote to the Attorney-General of the […]

Nigeria’s sweet crude bullish at $75 despite oil prices crashing to $69

By Kingsley Jeremiah, Abuja The decision by the Organisation of Oil Exporting Countries (OPEC) to pump 400,000 barrels per day of crude oil into the market on a monthly basis from August, yesterday pushed oil price to a record low of $69 per barrel, but Nigeria’s sweet crude, Bonny Light remains bullish at $75.23. With gradual […]

Threats to bomb nation’s oil installations unnecessary, Presidency tells Niger Delta Avengers

President Muhammadu Buhari The Presidency has frowned at threats by a group, Niger Delta Avengers, to bomb nation’s oil installations unless their demands including restructuring of the federation were met by the Federal Government within 90 days. Mr Femi Adesina, the Special Adviser to the President on Media and Publicity, condemned the threats in a […]

Kebbi, NNPC strengthen collaboration on biofuel production

The Kebbi State Government and Nigerian National Petroleum Corporation (NNPC) are to continue to strengthened collaboration on production of biofuel and renewable energy. Mr Yahaya Sarki, Adviser to Gov. Atiku Bagudu of Kebbi on Media, made this known in a statement made available to Newsmen in Birnin Kebbi on Friday. Sarki said the decision was […]

PDP gives Obasanjo 48 hours to clarify his statement on Atiku

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