Coming at a time when Nigeria’s crude oil reserves is retrogressing, standing at about 37 billion barrels for over 10 years, The Guardian could not find the details of the much talked about crude oil discovery at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) as part of the country’s current crude oil reserves.
NLNG’s Domestic Supply Intervention, according to Mr. Felix Ekundayo, President of the NLPGA, created the much-needed foundation for what has grown over 1000 per cent, from a 60,000MT market in 2007 into a 1.3MT market and is still growing. One of the most important hallmarks of the intervention the NLPGA president said is that it drastically reduced supply disruptions and birthed several indigenous companies in Nigeria’s LPG market.
This time, heads should roll. Corrupt, complicit, and negligent officials and security personnel should be held responsible and visited with severe sanctions, including sackings.
NEITI has called for a just, fair and equitable energy transition that prioritises Nigeria’s national interest in the engagements and response to the global energy transition process.
Even the regulator, the Nigerian Midstream Downstream Petroleum Regulatory Agency (NMDPRA), headed by Farouk Ahmed, feigned ignorance of such increase, insisting that prices were still the same.
The House of Representatives on Monday held a stakeholders meeting to resolve the crisis trailing the aviation fuel price increase, with the Nigerian National Petroleum Company Limited and domestic airline operators reaching a deal.
As a country, we still cannot tell the exact volume of Premium Motor Spirit, popularly called petrol, which we consume on a daily basis, the Federal Government has said.
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.
Between January and September 2021, Nigeria lost N898.93bn to crude oil losses and repairs of vandalised pipelines, among others, documents obtained from the Nigerian National Petroleum Company Limited showed.
