Minister of Transport, Rotimi Amaechi, on Thursday revealed that the Federal Government will beam its searchlight on the oil sector after the ongoing arms deal probe. He disclosed this during a round-table discussion organised by the Business Eye in Lagos. According to Amaechi, the Federal Government would probe the missing $49bn oil revenue, that erstwhile […]
By Michael EBOH A sharp decline was recorded in revenue accruable to the Federal Government from the petroleum sector, as the country’s earnings from crude oil export dropped to N5.271 trillion for the nine month period, January to September 2015. According to data obtained from the National Bureau of Statistics, NBS, the value of Nigeria’s crude […]
By Shaibu Stephen Ojate | Abuja, Nigeria | January 1, 2016 – The present federal government of Nigeria led by President Muhammad Buhari has openly announced to Nigerians that the price of Petrol shall begin to sell for eight-five naira (N85) per litre by January, 2016 as against the current price N87. With this announcement, […]
By Soni Daniel, Northern Region Editor As Nigeria inches towards full deregulation of the oil sector, the National President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), FRANCIS JOHNSON, says its members are fully in support of the planned deregulation of the sector by the Federal Government. But he is quick […]
The House of Representatives on Wednesday mandated its Committees on Petroleum Resources, Upstream, and Downstream, to investigate the lingering crisis in the supply petroleum products in the country. This followed a motion moved by Rep. Omoregie Ogbeide-Ihama (PDP-Edo) which was unanimously adopted. Leading the debate, Ogbeide-Ihama said that Nigerians were experiencing difficulties because of persistent problems […]
By Olusola Daniel | Lagos, Nigeria | November 26, 2015 –Few people illustrate the transient nature of positional power like the erstwhile Minister of Petroleum Resources, Mrs Diezani Alison-Madueke. The hitherto untouchable “super woman” has suddenly become like a frightened toddler seeking sympathy from the same people she despised while in power. We all remember […]
Vanguard By Michael Eboh Nigeria’s economy faces significant risks in the days ahead, as the country is currently having difficulties getting buyers for its crude oil in the international market, even as the price of its various oil grades have been on a downward trend over the last couple of months. Data obtained from global […]
Nigeria’s former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has denied allegations of financial impropriety under her tenure, especially the alleged disappearance of $20billion. Mrs. Diezani, who is battling with cancer disclosed this in an interview with The Boss newspaper. She was visibly angry at the mention of the $20billion “If there is one issue I […]
A cross section of Dangote refineries site. Recently, the management of Dangote Oil Refinery Company Limited, a subsidiary of Dangote Group, while conducting some select journalists in a tour of its facilities, emphasised that the company does not focus on making Nigeria self sufficient in crude refining alone, but will eventually export refined crude […]
By Emeka Anaeto, Economy Editor, with agency report There is an indication that the Presidency has reversed itself on the petroleum ministerial position. The portfolio will now have no minister, while a ministerial nominee in the person of Emmanuel Kachikwu, current Managing Director of Nigerian National Petroleum Corporation, NNPC, would be Minister of State for […]
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