Dangote Expresses Gratitude to Tinubu and Nigerians as Refinery Production Commences Aliko Dangote, the President of Dangote Group, expressed his gratitude to President Bola Ahmed Tinubu for his vision and support in the successful commencement of the production of refined petroleum products by the Dangote Petroleum Refinery. Dangote conveyed his appreciation during discussions with stakeholders…
Nigeria’s Inflation Hits 28.9%, According to National Bureau of Statistics (NBS) Nigeria’s annual inflation rate persisted in its upward trend, reaching a nearly 30-year high of 28.9% in December 2023, compared to the previous month’s rate of 28.2%. This information was revealed in the Consumer Price Index (CPI) for December 2023, released by the National…
Emphasizing the Vital Role of Human Capital Development in Repositioning NASENI- Electric Vehicles Mr. Khalil Suleiman Halilu, the Executive Vice Chairman/Chief Executive Officer of the National Agency for Science and Engineering Infrastructure (NASENI), has emphasized the significance of investing in human capital development and staff motivation to enhance the Agency’s standing as a global force…
Chevron Nigeria Welcomes New Chairman/Managing Director Jim Swartz has been appointed as the Chairman and Managing Director of Chevron Nigeria/Mid-Africa Business Unit, effective April 1, 2024, by Chevron Nigeria Limited (CNL), the joint venture operator between the Nigerian National Petroleum Company Limited and CNL. Before this role, Swartz served as the Vice President, of Capital…
NMDPRA Keeps Natural Gas Prices Unchanged for the Domestic Market The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced its decision to uphold the current Domestic Base Price (DBP) and pertinent wholesale gas prices for essential domestic sectors of the Nigerian economy. This decision, by the Petroleum Industry Act (PIA) of 2021, falls…
Former Navy Officer Decries Decay in Navy and Escalating Oil Theft in Nigeria Former naval officer Commodore Promise Zebulon Dappa (rtd) has expressed deep concern over the two-decade-long struggle against oil theft in Nigeria. He believes that the alleged involvement of the Navy in oil theft and other maritime crimes must be addressed for any…
Minister of Budget and Economic Planning Unveils Vision for 2024 Budget and Economic Growth Senator Abubakar Bagudu Discusses Key Initiatives and Priorities for Sustainable Development In an exclusive interview on the sidelines of the Arise News, KPMG 2024 Budget Day in Lagos, Senator Abubakar Bagudu, the Minister of Budget and Economic Planning, provided a comprehensive…
Tinubu Plans to Replace Underperforming Cabinet Members In line with his commitment to regularly assess the performance of his cabinet members, President Bola Ahmed Tinubu is poised to make changes by removing some ministers who are deemed to be “struggling in their new positions.” This decision follows a warning issued by President Tinubu during a…
Federal Government Mandates MDAs to Remit 100% of Revenue to New Treasury Account The Federal Ministry of Finance, acting on behalf of the federal government, has issued a directive to all Ministries, Departments, and Agencies (MDAs), instructing them to remit 100 percent of their internally generated revenue (IGR) to the sub-recurrent account, which serves as…
ULCC Up for Sale Once Again, KOTC Secures VLCC Contract Rumors have surfaced regarding the potential sale of Euronav’s ULCC Oceania, with indications pointing to a rare VLCC new building contract on the horizon. Rumors regarding the potential sale of Euronav’s ULCC tanker Oceania have resurfaced in 2024. Shipbrokers had initially reported its sale in…
