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The Federal Government should not go back on its decision to halt subsidy on Premium Motor Spirit, popularly called petrol, despite the opposition against the move, the Nigeria Extractive Industries Transparency Initiative stated on Tuesday.NEITI also announced that it had commenced a study to determine the actual consumption of petrol in Nigeria, stressing that the high PMS consumption figures being ...

UBA and other African banks on Monday in Accra Ghana signed an agreement with the African Continental Free Trade Agreement (AfCFTA) to eliminate trade barriers.UBA signed a Memorandum of Understanding (MOU) with a portfolio of $6 billion, in Accra Ghana, targeting Micro, Small and Medium Enterprises (MSME).According to UBA the sectors to benefit from the unprecedented all-round support and trade ...

…debunks insinuation that NNPCL gave approval to Dangote Group to import petroleum The Federal Government, on Monday, said six new companies have received approval to import petroleum products into Nigeria. The Managing Director of Nigeria Mainstream and Downstream Petroleum Regulatory Authority (NMDRA), Farouk Ahmed made this disclosure to state correspondents at the Presidential Villa. Farouk stated that apart from the ...

………by Ben Ndubuwa………..ExxonMobil, a global energy giant has elevated Shane Harris to lead the multinational oil firm as Chairman and Managing Director for its three Nigerian affiliates.The decision follows the retirement of Richard Laing, a seasoned executive with over 30 years of service to the company. In a press statement released on Twitter, ExxonMobil highlighted the significance of this leadership ...

………by Jenifer Dike…….. The Suleja/Abuja branch of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has commended the removal of subsidy on Premium Motor Spirit (PMS) otherwise known as petrol but is demanding the Nigeria National Petroleum Company Limited (NNPCL) to release N30.96 trillion worth of the product meant for the IPMAN members Addressing journalists at the Suleja/Abuja Secretariat of ...

On 16th June, 2023 the Seplat Energy JV held the opening ceremony of this year’s edition of its Eye Can See Corporate Social Responsibility (CSR) initiative at the Oba’s Palace in Benin City, Edo State. The company’s signature CSR health programme is designed to ensure the provision of eye care, visual aid and surgical treatment for Cataract, Glaucoma and other ...

The Central Bank of Nigeria (CBN) has said cash deposits into domiciliary accounts will no longer be restricted, and customers “shall have unfettered and unrestricted access to funds in their accounts”.The apex bank spoke in a statement issued after a meeting with the Bankers’ Committee on Sunday.The meeting was meant to provide further guidance to deposit money banks (DMBs) on ...

The Nigerian Gas Association (NGA) has expressed its support for the Federal Government’s renewed focus on prioritising autogas to cushion the effects of the removal of subsidy on the price of Premium Motor Spirit (PMS). The leadership of the NGA believes that this policy leaning is very apt as it accelerates the domestic adoption and utilisation of gas, a resource ...

…,…..by Ben Ndubuwa….. The National Economic Council, are considering possibility of engaging Innoson, Dangote Peugeot and Toyota to produce auto-gas vehicles to cushion the impact of the removal of subsidy. The NEC meeting comprising governors of the 36 states of the federation tabled the issue for deliberation as a means of curtailing the impact of the subsidy removal policy of ...

……..by Jenifer Dike……… Nigeria’s leading indigenous energy trading company, Hyde Energy Limited, in its drive to expand its Liquefied Petroleum Gas (LPG) operations, has commissioned a new LPG facility in Makurdi, the Benue State capital. First of its kind, the NAFIL-Hyde Energy LPG Facility located at the Nigerian Air Force base of the State will provide the Force and its ...