In a significant move aimed at reshaping maritime security operations in Nigeria, the National Assembly is poised to introduce new legislation aimed at diluting the exclusive authority of the Nigeria Navy (NN) over patrol and security in the country’s maritime zones. This development is particularly focused on the expansive blue water and deep sea areas,…
Afreximbank’s $3.3 Billion Crude Oil Prepayment Facility for Nigeria The African Export-Import Bank (Afreximbank) has taken a significant step in addressing Nigeria’s economic challenges by confirming the initial disbursement of $2.25 billion from the recently approved $3.3 billion crude oil prepayment facility. This crucial financial support aims to alleviate the acute foreign exchange (FX) shortage…
The Defense Headquarters recently disclosed a remarkable achievement by the Nigerian military, stating that they successfully eliminated 6,880 terrorists and criminals, apprehended 6,970 individuals, and rescued 4,488 kidnapped hostages from January to date. Maj.-Gen. Edward Buba, the Director of Defence Media Operations, shared these astounding figures during an update on the military’s operations in 2023….
Local airlines, united under the Airlines Operators of Nigeria (AON), and manufacturers represented by the Manufacturers Association of Nigeria (MAN), are strategically positioning themselves to secure priority supplies of diesel and JetA1 from the anticipated Dangote Petrochemical Refinery. The collaboration aims to ensure that domestic carriers and local industries receive favorable consideration for these critical…
Dangote Refinery announced the successful reception of its first one million barrels of Agbami crude from Shell International Trading and Shipping Company Limited (STASCO). The cargo, which sailed to the facility’s Single-Point Mooring (SPM), was efficiently discharged into the refinery’s crude oil tanks, marking a crucial milestone in the refinery’s operational readiness. This inaugural supply,…
Nigeria’s Fuel: In a recent statement from S&P Global, concerns have been raised over potential cost increases for Nigeria’s petrol and diesel imports. This issue arises following the announcement by Netherlands and Belgium, key suppliers of Nigeria’s fuel, regarding plans to elevate specifications and quality standards for their exports. This move is part of environmental…
NNPCL, Nigerian National Petroleum Corporation Limited confirmed that it has been procuring Premium Motor Spirit (PMS) from the Dangote Refinery at a rate of N898 per litre. This announcement sheds light on the ongoing supply chain of petrol in Nigeria and the dynamic nature of pricing under the Petroleum Industry Act (PIA). The NNPCL further…
NNPC, Nigerian National Petroleum Company Ltd. has initiated the dispatch of trucks to the refinery’s fuel loading gantry in Ibeju-Lekki, in preparation for the highly anticipated petrol loading at the Dangote Refinery. This event, set for Sunday, September 15, 2024, marks a significant step towards domestic fuel distribution, and NNPC Ltd. has prioritized ensuring seamless…
Nigeria, endowed with extensive natural gas reserves estimated at approximately 209 trillion cubic feet, is on the cusp of a transformative “gas revolution” aimed at driving its economy to new heights. President Bola Tinubu’s recent inauguration of three significant gas processing projects marks a pivotal step in this ambitious plan. However, the question remains: Can…
