Oil majors delay investment on $23.5b offshore projects
International Oil Companies (IOCs) operating in Nigeria may have devised means to compel the Federal Government into changing its fiscal policy on the Petroleum Industry Governance Bill (PIGB).
‘Poor governance framework bane of investment in extractive sector’
The inability of the federal government to sustainably address key issues affecting the extractive industry, especially the lapses in governance law, will continue to limit foreign...
NNPC to begin retail of petrol in West Africa
The Nigerian National Petroleum Corporation (NNPC) Wednesday in Abuja said it would begin retailing of petroleum products across markets in the Economic Community of West African States (ECOWAS) in the next two years. NNPC Group Managing Director, Maikanti Baru, who rebranded key downstream subsidiaries of the group said the company would own 30 per cent…
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.
How to save Nigeria from NNPC
Nigeria has had very many dark days. A series of unfortunate events has meant that the country has never quite managed to live up to its potential. But one particularly terrible dark day - April 1, 1977 - stands out as the biggest economic disaster that has so far befallen Nigeria since independence.
Nigeria produces 3.054trn cubic feet of gas in one year
The Nigeria’s gas production from January 2017 to January 2018 has reached 3.054.33 trillion cubic feet (tcf), representing an average daily production of 7.709.89 billion standard cubic feet per day (bscfd) during the period.
Vandalism foists uncertain fate on Enugu NNPC depot
The last time petroleum products flowed from the Nigeria National Petroleum Corporation (NNPC) Depot in Emene, Enugu State, to other parts of the South East, as well as, Benue and Kogi states was in 1996.
Economic council directs NNPC, others to refund N8tr
The National Economic Council (NEC) has directed the Nigerian National Petroleum Corporation (NNPC) and other agencies in the country to refund unremitted revenues in the sum of N8trillion (about $21billion) and another...
NNPC earns N1.554 trillion from oil export
Nigeria’s oil and gas sector recorded total revenue of $4.29billion (N1.554trillion) from exports between January 2017 and January 2018.On a monthly basis, total export sale of $439.60million was recorded in January 2018, representing 1.79 per cent lower than the previous month.