Tuesday, 26th October 2021
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Petroleum Industry Act (PIA)

22 Sep
The Senate unanimously endorsed the 2022 -2024 medium-term expenditure framework and fiscal strategy paper (MTEF-FSP). The decision followed the adoption of the recommendations of Senator Solomon Olamilekan led joint committees on finance, National Planning and Economics Affairs, foreign and local debts, banking, insurance and other financial institutions, petroleum resources (upstream), downstream petroleum sector and gas…
Ahmad Lawan
23 Aug
At last, the tortuous journey to strengthen Nigeria’s oil and gas sector came to an end with President Muhammadu Buhari’s assent to the Petroleum Industry Bill, PIB thus transforming it to Petroleum Industry Act, PIA. But quite instructively, the spate of reactions that trail this development has diminished the ultimate intentions of the legislation. Nobody…
19 Aug
Determined to ensure that the ordinary people in the oil bearing communities benefit from the Three Percent allocated to them in the newly assented Petroleum Industry Act (PIA), the Niger Delta Affairs Ministry on Thursday stated that it has an important role to play in the disbursement of the fund. The minister, Senator Godswill Akpabio…
18 Aug
President Muhammadu Buhari has commenced implementation of the newly signed Petroleum Industry Act (PIA) by approving a steering committee to oversee the process. The steering committee is headed by the Minister of State, Petroleum Resources, Timipre Sylva. Other members are Permanent Secretary, Ministry of Petroleum Resources, Group Managing Director, NNPC, Executive Chairman, FIRS, Representative of…


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For Nigeria to tackle its perennial foreign exchange (forex) crisis, the need to invest heavily in infrastructure and adopt competitive policies that would attract Foreign Direct Investment ..
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Seven states from the Northwest, yesterday, asked the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) to give it lion share of revenue to state and local governments.
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Ogun State governor, Dapo Abiodun, has urged traditional rulers in the state to be mindful of what they say and the people they honour with chieftaincy titles not to bring the royal institution into disrepute.
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The persistent free-fall of the naira is an indication that none of the interventions being applied by the monetary authorities has worked. Otherwise, there would have been some respite for the beleaguered currency, even minimally.
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As the Federal Government, in Abuja, harped on diversification of foreign exchange sources through export of manufacturing products yesterday investors in the country’s manufacturing value...