Nigeria’s Petrol Use Down 28% After Subsidy Scrapped – Regulator Nigeria’s average daily petrol consumption has fallen by 28% since President Bola Tinubu scrapped a popular but costly subsidy on the fuel at the end of May, data from the industry regulator shows. Average daily petrol consumption fell to 48.43 million litres in June, down…
DisCos intensify efforts for electricity tariffs hike approval There is no respite yet for electricity consumers with Distribution Companies (DisCos) still pushing ahead with their bid for Federal Government’s approval to raise the tariffs. Last week, the National Electricity Regulatory Commission (NERC) halted the 40 per cent tariff hike planned by the DisCos following…
Niger, China Discuss Uranium Mine and Other Deals The West African nation of Niger and China have been discussing deals that include an industrial park, an oil pipeline and a uranium mine. The Chinese ambassador to Niger, Jiang Feng, said China would build an industrial park that would impact industries including agro-food, manufacturing, mining and…
No fuel subsidy payments have been made to marketers since 2016 – NNPC Limited The Nigerian National Petroleum Company Limited has said that it will reconcile fuel subsidy deductions with the Federal Government, after stating that no fuel subsidy payments were made to marketers since January 2016. The company stated this on Tuesday, July 4 when it…
Offshore Rigs Tracker Sub-Saharan Africa June 2023 The Offshore Rigs Tracker offers the African petroleum industry the opportunity to track rigs’ movements and drilling campaigns offshore sub- Saharan Africa. It is released every quarter by the Caverton Offshore Support Group (COSG) Plc in partnership with Hawilti Ltd. The tracker is an important tool and business barometer for…
Publish Spending Details of N400bn Fuel Subsidy Savings, SERAP tells Tinubu Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Ahmed Tinubu to publish details of spending of about N400bn so far saved as a result of the removal of subsidy on Premium Motor Spirit (PMS), popularly known as petrol. SERAP also asked Tinubu…
Tinubu assures Investors of Policy Consistency, Restates Nigeria’s Readiness for Business …Shell Director hails Tinubu’s Strong Start, Positive Reforms President Bola Tinubu has assured the business community of his government’s commitment to policy consistency and better business climate to attract investment. A statement on Monday by the Special Adviser on Special Duties, Communication & Strategy…
Saudia Arabia to Extend Oil Production Cut, OPEC Delegates Predict Saudi Arabia is expected to extend its unilateral 1 MMbpd oil production cut for at least another month, as global crude markets remain pressured by economic fears. Riyadh surprised oil traders earlier this month when it announced the extra cutback, which came on top of…
NLNG Announces Q1 2024 for Completion of Bodo-Bonny Road The Nigeria LNG Limited, NLNG, has announced that the 38KM Bodo-Bonny Road currently being constructed by the company in collaboration with the Federal Government will be completed by the first quarter of 2024, with plans to connect it to the East – West Road. Managing Director…
Labour Asks FG to Shelve Proposed Power Tariff Hike Organised labour, under the umbrella of the Nigeria Labour Congress, NLC, has asked the Federal Government to shelve the plan to hike electricity tariff by 40 percent from July 1, describing the move as insensitive and callous. The NLC also said the move reflected an organised…
