Category: Business News
Business News
We spent N64bn to resuscitate Kaduna refinery without success —NNPC boss •Says fuel consumption, smuggling gulp 54 million litres per day
By Oke Peter The Group Managing Director of theNigerian National Petroleum Corporation(NNPC), Mele Kyari has disclosed that Nigerians and neighbouring countries that benefit from smuggling consume 54 million litres of petrol per day. Kyari said this at an interactive hearing on ‘Exiting petroleum subsidy: Ensuring self-sufficiency in domestic refining of petroleum products.” The event was…
Sylva calls for keen sense of nationhood and patriotism as Nigeria consolidates its democracy
By Oke Peter Honourable Minister of State for Petroleum Resources, Timipre Sylva, has commemorated with Nigerians on the Nation’s democracy day celebrations, describing it as a moment of deep national pride and introspection. In a statement signed by his Special Assistant on Media and Public Affairs, Julius Bokoru, on Friday, Sylva believes, as we all…
LCCI decries neglect of solid mineral sector
It must be a cause for great concern for any reasonable Nigerian, especially now that crude oil is hovering between zero dollar and below cost price.
Eid El-Fitri: Sylva felicitates with Muslims …Says it is a moment of national comfort
Former governor of Bayelsa State and Minister of State for Petroleum Resources, Timipre Sylva, has sent his warmest felicitations to the Nigerian Muslim Ummah on the occasion of this year’s Eid El-Fitri celebrations. In a statement released to journalists, in Abuja, by his Special Assistant on Media and Public Affairs, Julius Bokoru, Sylva wrote that…
Nigeria’s refineries produced no petrol in eight months —NNPC
By Oke Peter For eight straight months, no drop of petrol or kerosene was produced by any of the refineries under the management of the Nigerian National Petroleum Corporation (NNPC). Latest figures released by the NNPC on refined white products (petrol and kerosene) from local refineries showed that from June 2019 till January 2020, the…
Nigerian households spent N2trn on fuel, electricity in 2019 —NBS
Damilola Shittu – Abuja The National Bureau of Statistics (NBS) has said that households in Nigeria spent a total of N2.02trn on fuel and electricity in 2019, The NBS said in a new report on consumption expenditure pattern that household expenditure on fuel/light accounted for 11.57 percent of the total non-food consumption expenditure in 2019….
NNPC slashes ex-depot price of petrol
Damilola Shittu – Abuja The Nigerian National Petroleum Corporation (NNPC) on Wednesday announced a reduction in the ex-depot price of petrol from N113.28k per litre to N108.00K per litre. The corporation said the new price cuts across all its products loading facilities as well as in its throughput operations. A statement in Abuja by the…
Ikeja Electric bags latest ISO certifications to record industry’s first
Ikeja Electric Plc (IE), Nigeria’s leading electricity distribution company, has added to its scorecard by becoming first and only company in the sector to earn the latest ISO accreditation.
Africa Energy Forum relocates to Amsterdam from 20-22 October 2020
By Oke Peter This year’s Africa Energy Forum (AEF) has been rescheduled to take place in Amsterdam, the Netherlands from 20-22 October 2020. Previously due to take place in July, the move comes in the interests of all attendees’ safety after monitoring the COVID-19 situation and its impact on global economies. In a statement released…
Mainstream Energy gives N500m medical support to states
By Oke Peter The operator of Kainji and Jebba hydropower plants located in Niger State, Mainstream Energy Solution Limited (MESL) has provided N500m worth of medical support to the Federal Capital Territory, Niger State and selected communities in other states. For the FCT, the Managing Director of the power generation firm, Lamu Audu, said MESL…