The Nigeria Governors Forum have voiced their opposition to any new fuel imports by private marketers, arguing that such imports would undermine the potential of the recently inaugurated Dangote Refinery. The governors believe that relying on foreign fuel imports not only weakens national economic autonomy but also contradicts efforts to achieve self-sufficiency in refined petroleum…
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…
The Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has announced that the Port Harcourt refinery is poised to resume operations within the next fortnight. Speaking before the Senate ad-hoc committee investigating the Nigerian Refineries‘ Turn Around Maintenance (TAM) Projects, Kyari expressed confidence in the refinery’s readiness for production. He disclosed that…
The Federation Account Allocation Committee (FAAC) declared a remarkable distribution of N1.13 trillion in earnings for December 2023. This marked a substantial increase of N500 billion compared to the previous month’s allocation, demonstrating a positive financial trend. The committee, led by Dr. Oluwatoyin Madein, the Accountant General of the Federation, disclosed the breakdown of this…
Ibrahim Onoja, the Managing Director of the Port Harcourt Refining Company (PHRC), has reaffirmed that the long-awaited revival of the Port Harcourt Refinery is on track, aiming for a December start despite widespread skepticism. In a recent television appearance, Onoja echoed the assurance given by Mele Kyari, the CEO of the Nigerian National Petroleum Company…
