POLITICS

The Bayelsa State Government on Wednesday, June 16, 2021 indicated willingness to withdraw pending litigation against the Shell Petroleum Development Company of Nigeria (SPDC) over unpaid revenue running into billions of naira. Bayelsa government had dragged SPDC to court over failure of the oil firm to pay “development levies”. The development levies were for land acquired for the construction of ...

The Senate President, Ahmad Lawan has said that the Petroleum Industry Bill (PIB), will be passed this month of June. Speaking at the fourth edition of the Nigeria International Petroleum Summit (NIPS) the Senate President said that the National Assembly was cautious to accommodate imputs from a wide range of the Petroleum industry stakeholders. According to Lawan, the national assembly ...

The World Trade Organization (WTO) has appointed former Nigeria’s finance minister Ngozi Okonjo-Iweala as the new director-general. Ngozi now becomes the first woman and also African to lead the Switzerland-based institution. Her appointment came after the WTO had a special general council meeting on Monday. US President Joe Biden strongly swung behind her candidacy shortly after the only other remaining ...

The Nigeria National Resource Charter (NNRC) has commended recent efforts by the National Assembly toward ensuring the passage into law of the protracted Petroleum Industry Bill (PIB). The NNRC, a non-profit policy institute that promotes effective management of natural resources for public good, made the commendation in a statement issued by its Programme Coordinator, Ms Tengi George-Ikoli on Friday in ...

The oil majors and other players in the industry expressed disatisfaction with some provisions of the Petroleum Industry Bill, 2020. Some major oil producing companies and other players in the industry have raised concerns over some provisions of the Petroleum Industry Bill (PIB), 2020. This was at the first day of the public hearing, a necessary stage of the consideration ...

The Lagos Chamber of Commerce and Industry said on Sunday that there is the need to create a competitive environment to attract investment to the oil and gas sector using the Petroleum Industry Bill (PIB) which is before the National Assemy According to LCCI some provisions in the Petroleum Industry Bill, currently in the National Assembly, could adversely affect the ...

…………by Musa Ibrahim……….. Senate President Ahmad Lawan says the National Assembly has listed Petroleum Industry Bill (PIB), Electoral Ammmendment Act and Security as top in their priority in this legislative year. According to Lawan, the national Assembly will ensure the passage of the PIB, amendment of the Electoral Act as well as Constitution review between January and December 2021. Lawan ...

The Federal Government has said that it worked tirelessly to make Nigeria a partaker in the African Continental Free Trade Area (AfCFTA) which goes into effect from January 2021. It, therefore, urged Nigerian businesses to take advantage of the opportunity as it announces plans of a public campaign to highlight the benefits of the agreement. This was disclosed by Mr. ...

The Ministry of Petroleum Resources, Abuja, yesterday clarified its position on the alleged N116 million paid for the purchase of pens and N145 million an official of the ministry paid himself in the course of service, saying the incident did not occur under President Muhammadu Buhari. A statement by the Deputy Director of Information at the ministry, Enefaa Bob-Manuel, noted ...

…..order refund from Ministry official……. Senate Committee on Public Accounts has unravelled how a management staff in the Ministry of Petroleum Resources allegedly paid himself N145 million as media campaign fund to garner support for the Petroleum Industrial Bill (PIB). The allegation was contained in the 2015 report of the Auditor General of the Federation (AuGoF) submitted to the panel, ...