The greatest lesson that the COVID-19 pandemic has brought to the fore is the evil effects of subsidies on the Nigerian economy. After decades of corruptive spending, called petroleum subsidy by the Federal Government of Nigeria, it finally bade goodbye to the ignoble policy, albeit unwillingly. The decision to jettison the policy was due to…

The Nigeria LPG Association, NLPGA, has described the 2,050 per cent increase in the Petroleum Products Pricing Regulatory Agency (PPPRA) Administrative fee on LPG (Cooking Gas/Autogas) as illegal and capable of affecting the Federal Government National LPG Expansion Plan and the National Gas Expansion Programme. The National LPG Expansion Plan and the National Gas Expansion…

Senate Probes Alleged Breach Of Local Content Laws, Others Senate’s investigation into allegations of abuse of the Nigerian coastal and local content laws has recorded a twist, following fresh revelations that $120m is lost yearly to such abuses. Moreover, the delay by the Senate in concluding the investigation, which began a year ago, is generating…

The initiative conceptualises a post-petroleum economy for Nigeria that is related to an energy transition from fossil fuels to renewable energy sources in Nigeria. The groundbreaking research toward a post-petroleum economy was commissioned by the Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN) to provide some cost-benefit analysis of oil and gas and the prospects of…

Varied reactions, yesterday, greeted President Muhammadu Buhari’s warning of dire consequences if the country failed to end subsidy and fixing of the price for Premium Motor Spirit...

The Department of Petroleum Resources (DPR) generated N673,715,299, 941.42 in the first half of the year (January to June), its chief executive, Sarki Auwalu, has disclosed. He made the disclosure when he received the Kabir Mashi-led Federation Allocation Accounts Committee (FAAC) post-mortem sub-committee in his office yesterday in Abuja. Auwalu, in a release signed by…

Against the backdrop of increasing negative commentaries in the media against former Minister of Petroleum, Diezani Alison-Madueke, following a recent virtual lecture

The argument against continuous equalisation of petroleum products across Nigeria is being countered by some stakeholders, saying that any attempt to oust the scheme will worsen current economic challenges

Marketers imported 536,000 metric tonnes of petrol since the deregulation of the downstream sector on March 19, 2020, the Petroleum Products Pricing Regulatory Agency

A move by the African Refiners & Distributors Association (ARA), and the African Union (AU), to ensure a common standard for the importation and refining of petroleum products

Agriculture, health, education and security sectors, among others, have suffered degrees of neglect while the country concentrates on the economy of crude petroleum

The Independent Oil Marketers Association of Nigeria (IPMAN) and the Major Oil Marketers Association of Nigeria (MOMAN) on Friday lauded the performance of the Muhammadu Buhari-led administration in the petroleum sector.