Independent marketers expect the current fuel supply crisis in parts of the country to abate not later than next week. Their optimism is hinged on the ongoing efforts to free seven fuel-laden vessels trapped in Warri. The vessels are carrying a total of 150 million litres of Premium Motor Spirit (PMS) an official of the … Read more
President Bola Tinubu is set to commission three critical gas infrastructure projects being undertaken by the Nigerian National Petroleum Company Limited (NNPCL) and partners. The projects support the federal government’s effort to grow value from the nation’s gas assets while eliminating gas flaring. The delivery of the projects was accelerated from the inception of the … Read more
Data released by the National Bureau of Statistics (NBS) revealed that 18 out of the 36 states in the country failed to attract foreign investment in the last three years (2021 – 2023). NBS listed the states as follows : 1. Bauchi 2. Bayelsa 3. Benue 4. Borno 5. Cross River 6. Ebonyi 7. Edo … Read more
The Nigerian Electricity Regulatory Commission, NERC, has approved 481 Band A areas for the purpose of implementing the new tariff. Documents obtained from the regulator indicated that the Abuja Electricity Distribution Company, AEDC, emerged the highest with 107. Yola Electricity Distribution Company, YEDC, has 15, apparently the least. A breakdown indicated that the Ikeja Electricity … Read more
The Nigerian National Petroleum Company, NNPC, Ltd says it recorded a profit of N2.548 trillion in 2022. The national oil company in its 2022 Financial Performance Report posted online described the profit as the highest since its inception in 1977. The financial report stated that it recorded a loss of N803 billion in 2018 and … Read more