May 23, 2024
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  Key Points: Oil marketers must not collude to fix inflated prices due to the deregulation Subsidy removal was inevitable due to fiscal distress There are several technical and administrative issues on public expenditure which must be dealt with. It’s important for constant supply of petroleum products to avoid scarcity and price hike Government must […]Continue Reading
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In an epoch-making event that will positively transform Nigeria’s oil and gas sectoral landscape, President Muhammadu Buhari will today commission Dangote Petroleum Refinery & Petrochemicals, the world’s largest single train refinery in Ibeju-Lekki, Lagos; alongside his counterparts from Ghana, Togo, Senegal, Niger, and Chad. Promoted by Africa’s richest man, Aliko Continue Reading
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*World Bank, US EXIM Bank pledge $3b implementation support *VP says “it is time for decisive action, we cannot afford to delay”   By Daniel Adaji Africa’s increasing energy gaps require collaboration to take ownership of the continent’s transition pathways and the action should be decisive and urgent, according to Vice President Yemi Osinbajo, SAN. […]Continue Reading
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After Nigerian president Muhammadu Buhari controversially compared oil prices in Nigeria and Saudi Arabia as justification for repeated petrol price hikes since June 2020, some people in Nigeria have taken to social media with other comparisons between the two countries. A well-shared message posted on Facebook on 1 October makes a number of economic comparisons, […]Continue Reading
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A consortium of Civil Society Organizations (CSOs) has asked the federal government to entrench the deregulation drive of the downstream sector of the petroleum industry by enacting appropriate legislation or embedding it as part of the Petroleum Industry Bill (PIB) expected to be submitted to the National Assembly soon. The consortium also demanded that the […]Continue Reading
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By Theophilus Abbah Nuhu Ribadu booted out, demoted (2008). Farida Waziri sacked! (2011). Ibrahim Lamorde removed, under probe (2015).  Ibrahim Magu arrested, detained, grilled (2019). With these fragmented statements and reads-on that scream from the headlines of dailies, each chairman of the Economic and Financial Crimes Commission (EFCC), was, with bleary eyes, Continue Reading
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By Ifah Ele Sunday The Nigeria Extractive Industries Transparency Initiative (NEITI) has come up with a prescription on how Nigeria can cope with the current economic challenges caused by COVID-19 pandemic. NEITI is a government agency task with the challenge of ensuring accountability and transparency in the solid mineral and natural resources sector. In its […]Continue Reading
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Eliminate oil theft and leakages in the system Optimize supply chain Introduce alternative energies Maintenance of distribution infrastructure Passage of the Petroleum Industry Bill Remove fuel subsidy Bring in multiple players to participate in importation Oil marketers, under the umbrella of the Major Oil Marketers Association of Nigeria (MOMAN), has said that the global Continue Reading