The planned deduction of N242.53bn fuel subsidy from the Federation Account this month by the Nigerian National Petroleum Company Limited is raising uncertainty among states as the Federation Accounts Allocation Committee is scheduled to meet on Tuesday (today).
Nigerians will spend about N6.732tn on the purchase of Premium Motor Spirit, popularly called petrol, within a period of 12 months once the Federal Government stops subsidising the commodity from February next year, investigations have revealed.
Kyari received the award in a ceremony attended by eminent Nigerians at the Eko Hotel & Suites, Lagos on Saturday. They include the former Secretary to the Government of the Federation, Ambassador Babagana Kingibe; Kano State Governor Abdullahi Umar Ganduje, Ondo State Governor Rotimi Akeredolu; Edo State Governor Godwin Obaseki; Former Abia State Governor Orji Uzor Kalu; captains of industries and seasoned public servants.
Workers at the government-owned refineries were paid a total of N69.07bn last year, even as the plants generated zero revenue as they did not process a single barrel of crude oil.
The Senate on Thursday passed the Petroleum Industry Bill and approved 3 per cent for the host communities
The Nigerian National Petroleum Corporation (NNPC) on Monday said it is currently considering equity participation in some private refineries across the country.
The Nigerian National Petroleum Corporation (NNPC) is soliciting expression of interest (EOI) from companies qualified to operate and maintain three state-owned oil refineries.
Stakeholders in the energy industry, on Thursday, called for cautious optimism and a public policy document as the Nigerian National Petroleum Corporation (NNPC) in Port Harcourt handed over the Port Harcourt Refinery to Tecnimont SPA for the commencement of the $1.5 billion rehabilitation project.
The Nigerian National Petroleum Corporation (NNPC) has signed an Engineering, Procurement & Construction (EPC) contract with Tecnimont SpA, a subsidiary of Maire Tecnimont. The deal is for the rehabilitation of Port Harcourt Refining Company (PHRC).
The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, says the company cannot continue to bear the subsidy burden.
