Nigerian Government Signs Landmark Tax Agreements With Hong Kong And Botswana

Game Changer For Nigeria Economy: President Tinubu’s Proposal to Sell Crude Oil in Naira

Since assuming office, President Bola Ahmed Tinubu of Nigeria has faced considerable challenges but remains steadfast in his commitment to enhancing Nigeria’s economic resilience and reducing dependency on imported goods. His latest initiative, unveiled on July 29, marks a significant policy shift: selling crude oil to local refineries in Naira rather than dollars. This move…

Continue reading
Petrochina And Dangote Refinery Facing Hurdles In Us Crude Oil Shipment

PetroChina and Dangote Refinery Facing Hurdles in US Crude Oil Shipment

PetroChina, a Chinese state-owned energy enterprise, finds itself entangled in payment complexities, resulting in a month-long delay in unloading a shipment of U.S. crude oil at the Dangote refinery in Nigeria. This delay, highlighted by reports from four trading sources and shipping data, underscores the hurdles confronting the $20 billion Dangote refinery, supported by Africa’s…

Continue reading
Governor Hope Uzodimma Of Imo State Resolute Commitment To Ending Crude Oil Theft In Nigeria, Tackled Head-On, Promising Swift Action And Economic Stability

Governor Hope Uzodimma of Imo State Resolute Commitment to Ending Crude Oil Theft in Nigeria, Tackled Head-On, Promising Swift Action and Economic Stability

Governor Hope Uzodimma of Imo State has made a resolute commitment to ending crude oil theft in Nigeria, aiming for swift action. Speaking to reporters in Abuja after a crucial stakeholders meeting, Governor Hope Uzodimma outlined plans to submit the interim report of the crude oil theft and management committee to the National Economic Council…

Continue reading
Former President Obasanjo'S Startling Revelation Sparks Urgent Calls For Action Against Nigeria'S Epidemic Of Crude Oil Theft

Former President Obasanjo’s Startling Revelation Sparks Urgent Calls for Action Against Nigeria’s Epidemic of Crude Oil Theft

Former President Obasanjo Raises Alarm Over Nigeria’s Crude Oil Theft Former President Olusegun Obasanjo’s recent pronouncements have ignited a firestorm of debate surrounding Nigeria’s economic landscape, particularly its vulnerability to the rampant theft of crude oil. With stark candor, Obasanjo disclosed that over 80% of Nigeria’s prized crude oil resources are being siphoned away, casting…

Continue reading
Operatives Of Tantita Security Services Limited Apprehend Vessel In Bayelsa State For Crude Oil Theft

Operatives of Tantita Security Services Limited Apprehend Vessel in Bayelsa State for Crude Oil Theft

In a continued effort to combat illegal activities in Nigeria’s oil-rich region, operatives of Tantita Security Services Limited, working in collaboration with security personnel, have made another significant arrest. The vessel in question, identified as MT Harbour Spirit with IMO No. 8226272, was apprehended for its alleged involvement in crude oil theft. This latest operation…

Continue reading
Nigeria'S Oil Sector Downstream

Crude Oil Challenges in Nigeria May Lead to Importation for Refineries in 2024

Nigerian Refineries Face Crude Oil Importation In a significant development for the Nigerian oil industry, the Nigerian National Petroleum Company Limited (NNPCL) is considering the importation of 110,000 barrels of crude oil per day from Venezuela or Saudi Arabia to operate the upcoming Kaduna Refinery, scheduled to begin operations next year. This move reflects the…

Continue reading