World Bank supports FG on petrol subsidy removal
The World Bank noted that the Nigerian government had eliminated petrol subsidy and established a market-based pricing mechanism with no price ceilings.
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FG deploys 1,000 automobile petrol-to-gas conversion kits
He said, “As a way to address the barrier, we have about 1,000 conversion kits for trucks and smaller vehicles to be deployed nationwide in the fourth quarter of 2020.
Unlock Nigeria’s gas potential for economic development —Dangote urges FG
“But, our focus at Dangote is how to add value to the natural gas. After all, this Liquefied Natural Gas (LNG) that is being imported by various countries is used as fixed stock. They use this natural gas to generate power, fuel and as feedstock. The value-added products are thereby exported to Nigeria.
Schneider Electric introduces new UPS smart solution to reduce total spend on electricity tariff
Schneider Electric on Monday announced the availability of a new category of Uninterrupted Power Supply (UPSs) smart solution from its APC, that can help electricity consumers in Nigeria reduce total spend on electricity tariff.
33,448,633MWh of energy generated in 2019 —NBS
Energy consumed by the Eleven DisCos in 2019 stood at 28,026,503 MWh, Ikeja DisCo recorded the highest energy consumption with 4,087,971 MWh accounting for 14.95% while Yola Disco recorded the lowest with 1,122,534MWh accounting for 4% of total energy consumed in 2019.
Buhari submits PIB to National Assembly, scraps NNPC, PPPRA in new bill
The President Muhammadu Buhari, has transmitted the much-awaited Petroleum Industry Bill 2020 to the National Assembly and has proposed the creation of the Nigerian National Petroleum Company Limited.
OPEC in trouble as oil outlook worsens
OPEC members were served an unpleasant surprise from exempted fellow Libya. The country’s warring factions reached a ceasefire, and some long-shuttered oil ports have been reopened, along with the fields that feed them.
It’s not in our interest to remain sole importer of petrol —NNPC boss
But speaking during a downstream stakeholders’ meeting which held at the NNPC Towers, Abuja, Group Managing Director of the corporation, Mallam Mele Kyari, argued that it was not in the best interest of the national oil company to be the sole importer of fuel. A press release by the corporation’s Spokesman, Dr. Kennie Obateru, quoted Kyari as saying that concrete steps were being taken by the federal government to address the main concerns of marketers, especially the issue of availability of forex.
Non-passage of Petroleum Industry Bill scaring investors —Kyari
Kyari said international investors were losing confidence in the nation’s oil and gas industry and tasked the lawmakers to act fast and arrest the situation.
FG spends N8.9trn on subsidy in 10 years, says PPPRA
It said that the subsidy was paid to oil marketers and the Nigerian National Petroleum Corporation (NNPC) in the period under review.