Tag: Petroleum

Lagos Chamber of Commerce and Industry on accelerated domestic refining & petroleum pricing

The Lagos Chamber of Commerce and Industry says accelerated domestic refining and processing of petroleum products would end the unstable petroleum pricing in the country. Director-Genera of the Chamber, Dr Muda Yusuf, said this in an interview with the News Agency of Nigeria on Saturday in Lagos State. He explained that this[Read More…]

Breaking: Long queues of petrol return to filling stations in Abuja

Long queues have returned to filling stations in Abuja, causing gridlock in areas that are affected. NewsWireNGR Correspondent reports that while some filling stations were not dispensing as of Tuesday morning, a few others dispensing were besieged by motorists. The situation led to long queues which also affected the free[Read More…]

Just In: President Buhari has signed a long-awaited oil-reform bill?

Nigerian President Muhammadu Buhari has signed a long-awaited oil-reform bill and it will be formally presented in the Senate as early as next week, four sources familiar with the matter told Reuters News Agency. The legislation has been in the works for the past 20 years, and the main laws[Read More…]

De-regulation of the petroleum sub-sector will be difficult – Minister of state, Timipre Sylva

The Minister of Petroleum Resources (State), Mr Timipre Sylva has explained the recent increase in the price of petrol, admitting that the deregulation of the petroleum sub-sector will be difficult for a while but pay off on the long run. Mr Sylva said this on Thursday during a briefing in[Read More…]

One billion barrels of crude oil discovered in the north-east – Federal Govt

Nigeria’s Minister of state for petroleum resources, Timipre Sylva, says about one billion barrels of crude oil have been discovered in the north-east. NAN quoted Sylva as saying this on Wednesday at a press conference to mark the end of the 2020 Nigeria International Petroleum Summit in Abuja. The minister[Read More…]

Government To Increase Petrol Price And Other Options On The Table

Ibe Kachikwu, minister of state for petroleum, says the federal government has no plan to jack up the pump price of petrol, which is at present fixed at N145 per litre. Idang Alibi, the director of press in the ministry, in a statement on Thursday night clarified the minister’s submission[Read More…]

“Shameful Nigeria Cannot Produce Petroleum Products” – Ibe Kachikwu, Nigeria’s Petroleum Minister Says

Ibe Kachikwu, minister of state for petroleum resources, says it’s a shame that Nigeria cannot refine its crude oil after 40 years of activities in the downstream. Kachikwu said this on Thursday when he appeared before the senate committee on petroleum (downstream). He said the ministry and the Nigerian National[Read More…]

As Petrol Scarcity Bites Nationwide, Ayodele Fayose of Ekiti Orders Sale of Petrol at N145/L for his People

Ayodele Fayose, governor of Ekiti, says he has ordered 80 percent of the petrol in the government house dump to be pumped out and sold at N145 per litre. The governor, who disclosed this in a series of tweets, said he “cannot keep fuel in the government house while people[Read More…]

Abducted Chibok girls Worth More Than Oil, Says Ibe Kachikwu

Ibe Kachikwu, minister of state for petroleum, says the recovery of over 200 missing school girls from Government Secondary School, Chibok, is more important than protection of oil facilities in the Niger Delta. Speaking to Richard Quest on CNN’s Quest Means Business on Monday night, Kachikwu said it is not[Read More…]

‘Pump Price Increase Is The “Most Cruel In History” ‘- NLC Threaten Showdown Over Petrol Price

The Nigeria Labour Congress (NLC) has advised the federal government to revert the pump price of petrol to what it was or be ready for a showdown. Peter Ozo-Eson, secretary-general of the union, said the increase is the “most cruel in history”, vowing that labour would do all within its[Read More…]