Port Harcourt

Obasanjo knocks Tinubu over fuel subsidy removal, exchange rate unification

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Obasanjo And Tinubu

Former President Olusegun Obasanjo has criticized President Bola Tinubu’s approach to implementing fuel subsidy removal and exchange rate unification, stating that while these actions are necessary, their execution was flawed. Speaking at a colloquium in Abuja, Obasanjo emphasized the importance of effective leadership and proper implementation to avoid economic hardships for Nigerians. He also addressed … Read more

7 trapped vessels worsen Nigeria’s fuel scarcity crisis

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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

FG unveils first ever creative SME film tech academy

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As part of measures to further empower, create wealth, and reduce poverty among Nigerian youths, the SMEDAN Idea Film Academy has trained over 200 persons since 2022. The founder of the academy, Mr. Adeolu Adeyemo, made this known during a news conference in Abuja. The news conference was also to premiere the movie “Fitila” during … Read more

Explosion: FG announces fresh condition for gas licence

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Gas plant

The Federal Government, FG, says it will stop awarding licences to gas businesses with no ability to develop pipes for gas distribution. The government stated that this was necessary to discourage the transportation of compressed natural gas on roads. The Minister of State for Petroleum (Gas), Ekperikpe Ekpo, made this disclosure when he was in … Read more

Petrol : Marketers target N500 per litre as Port Harcourt refinery set to load

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Oil marketers are gearing up to load refined petroleum products from the Port Harcourt Refining Company, as workers at the facility race to get it set for production on the directives of the Nigerian National Petroleum Company Limited. Dealers confirmed on Friday that the PHRC was almost set to start releasing products, projecting a N500/litre … Read more

Port Harcourt Refinery to begin operation before December – Senate committee

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The Senate Ad-Hoc Committee to Investigate the Turnaround Maintenance of Nigeria’s Refineries has said the Port Harcourt Refinery will begin operation before the end of December. This is as the Rivers State Governor, Siminalayi Fubara, has stated that his administration is working in tandem with President Bola Tinubu-led Federal Government’s policies designed to make life … Read more

New electricity tariff: See FULL LIST of 481 Band A areas in Nigeria

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Aedc Electricity Tariff Hike

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

BUA floors American company in US, to get £343,751

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Bua

A US court has ordered an American company to pay BUA International Limited £343,750.91 in arbitral award. The United States District Court for the District of Idaho gave the order to Domtec International LLC, an Idaho-based company specialising in the building of concrete domes. According to court papers obtained by PREMIUM TIMES, Domtec has 21 … Read more

See FULL LIST of 7 major marketers approved to sell Dangote fuel

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Dangote Refinery

The seven biggest oil marketers in Nigeria have registered with the Dangote Petroleum Refinery to lift and distribute refined petroleum products generated by the $20 billion plant. Dealers affiliated with the Major Oil Marketers Association of Nigeria said on Sunday that with the registration, they will begin distributing fuel produced at the plant once the … Read more