Nigeria — where President Buhari had to say sorry for a power cut
For many Nigerian children who have never been abroad, few stories about the West are as fascinating as the fact that electricity can stay on from dusk till dawn seven days a week.
Tag: muhammadu buhari
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Subsidy may increase by 100% as FG’s benchmark oil price doubles
The projected oil price of the Federal Government of $62/barrel as contained in the 2022 Appropriation Bill has almost doubled going by the current global oil prices, which have been on the increase since the invasion of Ukraine by Russia on February 24, 2022.
Climate change: Is Nigeria’s net-zero pledge credible?
“I do not think anyone in Nigeria needs persuading of the need for urgent action on the environment,” he said, adding: “For Nigeria, climate change is not about the perils of tomorrow, but what is happening today”. Then, he declared: “Nigeria is committed to net zero by 2060”!
Nigeria’s $26.5bn maintenance cost enough to build three new refineries
The whopping sum of $26.5b, which the Federal Government has so far spent on the maintenance of its loss-making 445, 000 barrels/day capacity refineries, is capable of building three new refineries of the same size going by the cost analysis of refinery projects across the world.
Crude oil in commercial quantity discovered in Benue Trough, says NNPC
The Nigerian National Petroleum Corporation (NNPC) on Thursday said the volume of crude oil discovered in Benue Trough was in commercial quantity.
Mambilla Hydro Power Project existed for 40 years without structure—Power Minister
The Minister of Power, Engineer Saleh Mamman, has said that the Mambilla Hydro Power Project located at Sadauna Local Government Area of Taraba State for 40 years existed just by name without any structure.
Buhari will not allocate oil wells as gifts —Presidency
The Presidency has said that the resolve by President Muhammadu Buhari not to allocate the nation’s oil wells as gifts to some powerful and influential Nigerians since he assumed office in 2015, has been largely responsible for the seeming hatred and bitter criticisms of his administration by the political elite in the country. Senior Special…
Nigeria begins talks with oil majors to end $62bn dispute
Government claims it’s owed money as price of crude has risen Justice minister says possible settlement isn’t ‘out of sight’ The Federal Government of Nigeria began preliminary talks with international oil companies to settle a dispute over revenue. The government, citing a 2018 Supreme Court ruling, says it’s entitled to $62 billion from the companies…
NNPC solicits DSS’ assistance on debt recovery, vandalism
Oluwadamilola Shittu – Abuja The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, has solicited the support of the Department of State Services (DSS) to assist the corporation in its effort to recover outstanding debts as well as curb pipeline vandalism. Kyari made the plea when he led the management…
FG spent N650.2bn on petrol subsidy in 12 months —Report
The Federal Government spent a total N650.2bn in subsidising Premium Motor Spirit; latest statistics obtained from the Nigerian National Petroleum Corporation have shown. The PMS, popularly known as petrol, is imported into Nigeria solely by the Federal Government-owned NNPC. The corporation subsidises the commodity to ensure that it is not sold above N145 per litre…