The Federal Government of Nigeria has officially commenced the sale of crude oil and refined petroleum products in naira as of October 1, 2024. This initiative marks a significant shift in the country’s approach to energy sales and is aimed at strengthening the naira, reducing transaction costs, and ensuring a stable supply of petroleum products….
On Monday morning, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, spearheaded a critical meeting aimed at advancing President Bola Tinubu’s directive for the Nigerian National Petroleum Corporation Limited (NNPCL) to sell crude oil to local refineries in Naira. This bold initiative is designed to fortify the domestic economy…
The management of Dangote Refinery has voiced strong concerns over the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) apparent inability to uphold the Petroleum Industry Act (PIA) in ensuring the domestic supply of crude oil to local refineries. In a recent statement, Anthony Chiejina, the spokesperson for Dangote Refinery, accused the regulatory body of neglecting its…
The Group Managing Director of the NNPC Limited, Mele Kyari, has vowed to expose those behind the economic sabotage in the country’s oil and gas sector. Mele Kyari made this statement during a recent interview, where he expressed his determination to reveal the truth behind the sabotage when the time is right. He emphasized that…
In a decisive move to stabilize fuel prices and the volatile dollar-Naira exchange rate, President Bola Tinubu has introduced a groundbreaking proposal. The Federal Executive Council (FEC) today adopted President Tinubu’s plan to sell crude oil to Dangote Refinery and other forthcoming refineries in Naira. This strategy is set to address the financial pressures that…
The $20 billion Dangote Refinery, once heralded as the beacon of Nigeria’s energy future, is embroiled in controversy. Nigerian citizens eagerly anticipated the relief that both the Dangote and Port Harcourt refineries operating at full capacity would bring. This dream, however, appears to be on hold as the Dangote refinery faces unexpected challenges. The Dangote…
NNPC Ltd has announced a state of emergency on oil production in Nigeria’s oil and gas industry. This bold move aims to increase crude oil production and grow the country’s reserves. The declaration was made by the Group Chief Executive Officer of NNPC Ltd, Mr. Mele Kyari, during his keynote address at the 23rd Nigeria…
Dangote Refinery is a significant investment in Nigeria’s energy sector, and its success is crucial to the country’s economic growth. The refinery’s failure would not only affect the economy but also lead to a loss of jobs and revenue for the government. The alleged sabotage of the Dangote Refinery by IOCs poses a significant threat…
The Nigerian government has called on the United Arab Emirates (UAE) to invest in the renewal and reconstruction of its aging oil pipeline infrastructure. On Monday, the Minister of State for Petroleum (Oil), Heineken Lokpobiri, emphasized the urgent need to replace the over 50-year-old pipelines, which have surpassed their operational lifespans. The appeal was made…
Minister of Defence, Muhammed Badaru Abubakar, shed light on the alarming nexus between the proliferation of small arms and the escalating incidents of oil theft, illegal crude oil refining, and kidnappings plaguing the volatile Niger Delta region. His remarks sparked concerns over the grave security challenges faced by the nation. The seminar, organized by the…
