https://www.youtube.com/watch?v=atcaYPZyVkY?si=xngqy1JRhwcGa9pd ‘No Single Incentive From FG’ The billionaire business tycoon said his refinery did not enjoy any incentive from the Federal Government. “In the refinery, we did not, and I repeat, we did not collect one single incentive from the Federal Government of Nigeria or even Lagos State. Yes, the Lagos […]

THE outlook for Nigeria’s oil output, including condensate, remains gloomy at 1.4 million barrels per day, mbpd, in the second half of 2024, according to industry data and forecast. The output forecast is far below the 1.8mbpd quota given to Nigeria by the Organisation of Petroleum Exporting Countries, OPEC, as […]

The Nigerian government said the era of buying Premium Motor Spirit, known as fuel between N750 to N1000 per liter, is over as it will commission 30,000 Compressed Natural Gas powered vehicles in the next 90 days. The Project Director and Chief Executive Officer of the Presidential Compressed Natural Gas Initiative, […]

Africa’s richest man, Aliko Dangote, is willing to sell his multi-billion-dollar oil refinery to NNPC Limited, Nigeria’s state-owned energy company, amid unresolved differences with the federal government. The 650,000 barrel-per-day refinery, which began operations last year after a decade of construction, has been facing challenges, including difficulties in sourcing crude […]

Dangote is calling off plans to invest in a new steel plant in Nigeria after the government accused him of seeking to become a monopoly with his new refinery in the West African nation. Dangote said, “let others that have more money than us go and bring their money from […]

Some local refinery operators have lamented that the announcement made by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, stating that the Federal Government would continue to import fuel, shows that the government had taken sides against local refineries. The operators, under the aegis of the Crude Oil Refiners Association of […]

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has stated that the country’s external reserve has increased to $36.89 billion as of July, 16 2024. CBN Governor, Mr. Olayemi Cardoso, made this statement during an engagement with the Senate Committee on Banking, Insurance, and Other Financial […]

Businesses including banks, airlines, train companies, telecommunications companies, TV and radio broadcasters, and supermarkets have been taken offline following a mass global outage. Major US airlines including American Airlines, Delta Airlines and United Airlines have been grounded, while airports in Germany, Amsterdam and Spain are also reporting issues. It is […]

The landing cost of Premium Motor Spirit, also known as petrol, was N1,117/litre as of Tuesday, July 16, 2024, the Major Energies Marketers Association of Nigeria announced on Wednesday. MEMAN disclosed this during a webinar with journalists on Wednesday. The association revealed that the landing cost of diesel was N1,157/litre, […]