The managing director of a local oil and gas company operating throughout the downstream value chain in Nigeria, Pinnacle Oil and Gas Limited, Robert Dickerman has revealed that the Nigerian government still pays approximately ₦1 trillion every month as petrol subsidies.
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For alledgely helping Addax Petroleum to escape a $2.4 billion liability to Nigeria, the Federal Investigation Bureau (FBI), has slammed bribery and tax-related charges in the United States, against a senior Nigerian National Petroleum Company Limited (NNPC) official, Paulinus Iheanacho Okoronkwo.
The Nigerian Upstream Petroleum Regulatory Commission has put plans in motion to relocate some of its units to Lagos, a document sighted by ChannelsTV reveals.
Unearth the untapped potential and unimaginable riches at Mutun Daya, a bustling mining site in Niger state’s Shiroro local government area. Delve into the industrious spirit permeating the air as miners extract treasures hidden within the earth’s depths. Witness the risks, rewards, and dreams of a community determined to carve out their fortunes from the golden depths.
In the continued gale of exit by Nigeria-based multinationals, ASHENEWS reports that the French oil major, TotalEnergies has announced plans to sell its minority stake in a major oil joint venture, and finally exit the country.
“It is an arbitrary order capable of undermining the operational independence of the NNPCL. By this order, Mr. President has wrested control of the finances of the NNPCL and donated the same to the Federal Ministry of Finance and the Central Bank of Nigeria. This is an unprecedented act, without any legal or ethical basis. It is also a violation of the principle of due process in public administration”
Like most residents of the Farakwai Community in Igabi local government Area of Kaduna state, Ahmed Abubakar received the granite mining companies in the community with euphoria. Abubakar, popularly known as Babangida, said the people’s expectations were that the companies would augment the government’s effort in providing infrastructure and strengthen their economic growth, enhance job creation and environmental conservation.
Africa’s largest and Nigeria’s Dangote Refinery is set to diversify its source of crude oil by importing from Trafigura Group of the United States, Bloomberg reports.
President Bola Tinubu has approved the handing over by the Nigeria National Petroleum Company Ltd (NNPCL) of revenue from sales of crude oil to the Central Bank of Nigeria (CBN).
The revenue of the Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has increased to ₦.81 trillion in 2022, corresponding to a growth of 37.32 percent.