Since President Bola Tinubu’s assumption of office on May 29, 2023, the Nigeria Exchange has recorded a remarkable bullish run, with the oil and gas stocks gain going over 44%, Nairametrics has reported.
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The National President of Heavy Duty Truck Drivers Association, Mr. Uche Nebuwa, says there will be no remedy to the hike in pump price of fuel caused by subsidy removal unless old refineries are repaired.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) have projected that the pump price of petrol could rise above N700 per litre in Northern Nigeria starting from July.
A former Senior Special Assistant to the ex-President Muhammadu Buhari, has revealed the reason why the former Nigerian leader did not remove the petrol subsidy and unify the country’s foreign exchange rates.
An oil and gas expert, Dr Ayodele Oni, says the ongoing Nigeria-Morocco Gas Pipelines (NMGP) project will boost the economic and industrial growth of all countries that signed a memorandum of understanding (MoU).
An ex-militant leader in the Niger Delta, Asari Dokubo, has alleged that the Nigerian Army, Navy, and cabal are behind 99 percent of oil theft in the country.
The four tripartite MoUs were signed between the Nigerian National Petroleum Company Limited (NNPC) and the Office National des Hydrocarbures et des Mines (ONHYM) of Morocco on one hand, and the Société Nationale des Opérations Pétrolières of Cote d’Ivoire (PETROCI), the National Oil Company of Liberia (NOCAL), the Société Nationale des Hydrocarbures of Benin (SNH-Benin), and the Société Nationale des Pétroles of the Republic of Guinea (SONAP) on the other hand, Garba Deen Muhammad, the Chief Corporate Communications Officer of the NNPC Limited, said in a statement.
Former President, Nigeria Liquefied Petroleum Gas Association (NLPGA), Mr Nuhu Yakubu, has attributed the decrease in the retail price of cooking gas in the country to the fall in price of the product at the international market.
The Centre for the Promotion of Private Enterprise (CPPE) has urged the Federal Government to institute reforms in the oil and gas sector, to improve Nigeria’s balance of trade.
President Bola Ahmed Tinubu has directed the National Economic Council (NEC) , led by Vice President Kashim Shettima, to begin the process of providing interventions to ameliorate the impact of removal of subsidy on fuel on the people.