NASS’ delay of PIB stirs anger
Nigeria’s National Assembly is still temporizing with passage of the Petroleum Industry Bill (PIB) and this is a source of worry to oil and gas stakeholders.
Spending N120b annually on idle refineries?
The relative dormancy of Nigeria’s refineries, in Kaduna, Warri and Port Harcourt represent a serious drain on the national purse. This has necessitated the importation of most of the country’s needs of refined petroleum products over the years.
‘Resource governance in oil sector remains opaque, below par’
Poor improvement in almost all benchmarks or precepts used in measuring performance in the oil and gas sector has been attributed to the lack of transparency and weak fiscal intervention by regulators.
Rising poverty, resource misappropriation amidst N83trillion oil revenue
Last week, Nigeria Natural Resource Charter (NNRC) in its Benchmark Exercise Report (BER) revealed that Nigeria has made N83 trillion from oil and gas in the last 37 years.
‘Nigeria far from economic diversification despite gloomy oil fortunes’
The Nigerian Nation Resource Charter (NNRC) has again raised the alarm about the approach of the Federal Government towards the use of proceeds of oil and gas despite dwindling fortunes of the sector.
Why Niger Delta remains in ruins despite N4t benefits transfer
There are glaring indications that the over N4t so far budgeted by the Federal Government, and funds contributed by oil companies, as well as other benefits meant to better the lives of about 20 million...
Nigeria’s crude oil production to witness eight per cent decline
Nigeria’s crude oil production may witness a steady decline to approximately 7.93 per cent before 2025, a new research, conducted by U.S.-based Orbis Research has said.Being the same year Nigeria has targeted to increase oil reserve to about 40 billion and daily production....
Stakeholders urge action as oil theft claims N995b
Stakeholders comprising oil and gas experts, civil society organisations and Niger Delta leaders yesterday sought immediate action on crude theft, stating that the country had lost $12 billion to the menace. They accused security agencies, politicians and host communities of aiding the illicit business with its accompanying negative effects on the national economy, environment and…
How to avert loss of N995 billion annual crude theft, by NNRC
Nigeria may continue to lose an estimated N995.2 billion yearly to crude oil theft except the Federal Government adopts...