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NLC rejects increase in petrol price, N5,000 payment to Nigerians

NLC rejects increase in petrol price, N5,000 payment to Nigerians

The Nigerian Labour Congress (NLC) has rejected the Federal Government’s plans to increase the pump price of petrol calling for consideration of options to help the country achieve developmental governance and accountable leadership. This is…

Energy
El-Rufai raises alarm, says Nigeria is losing N250b monthly from fuel subsidy

El-Rufai raises alarm, says Nigeria is losing N250b monthly from fuel subsidy

The Governor of Kaduna State, Malam Nasir El-Rufai, has stated that Nigeria is losing N250 billion a month on petrol subsidies and that state governors are committed to supporting the Federal Government on ending the…

Energy
FG denies plans fuel price hike, states reason for fuel queues in Abuja, others

FG denies plans fuel price hike, states reason for fuel queues in Abuja, others

The Federal Government has provided reasons for the marginal fuel queues being experienced at filling stations in Abuja and some parts of the country. This is as the government has denied reports that it plans…

Energy
Private firm, marketers partner to bridge supply gap on kerosene

Private firm, marketers partner to bridge supply gap on kerosene

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that it has reached a production partnership agreement with the management of OPAC Refineries to supply Kerosene (DPK) to its members all over the country.…

Energy
Fuel scarcity looms as NUPENG gives FG strike notice

Fuel scarcity looms as NUPENG gives FG strike notice

Nigeria may experience fuel scarcity in coming days following the threat issued on Monday by the Nigeria Union of Petroleum and Natural Gas. NUPENG has given the Federal Government a two-week strike notice, raising the…

Energy
NNPC records ₦1.29t revenue deficit under nine months in 2021

NNPC records ₦1.29t revenue deficit under nine months in 2021

The Nigerian National Petroleum Corporation (NNPC) says it recorded a revenue deficit of N1.29 trillion from January to September this year. This is according to NNPC’s September presentation to the Federation Account Allocation Committee (FAAC).…

Energy
Oil ends week lower but regains momentum as it reclaims $80

Oil ends week lower but regains momentum as it reclaims $80

The black liquid regained momentum on Friday, with both benchmarks gaining over 2% as bullish bets resumed after the Organization of Petroleum Exporting Countries and its Allies (OPEC+) on Thursday stated that they would stick…

Energy
NNPC blames Ikeja gas leakage on road construction

NNPC blames Ikeja gas leakage on road construction

The Nigerian National Petroleum Corporation Ltd has blamed the gas leakage at Anifowoshe, Ikeja Underbridge, in Lagos on an ongoing road construction works being undertaken by the state government. This was disclosed by Mr Garba…

Energy
TCN lost N1.7b to vandalism in Maiduguri this year

TCN lost N1.7b to vandalism in Maiduguri this year

The Transmission Company of Nigeria (TCN), announced that it has lost the sum of N1.7 billion this year due to vandalism on its facilities in Maiduguri and surrounding towns. This was disclosed by the Minister…

Energy
Crude oil prices nearing $80 per barrel, highest since 2018

Crude oil prices nearing $80 per barrel, highest since 2018

The price of crude oil was up in London on Friday morning, climbing for a fourth day amid tighter supplies and a strong appetite for riskier assets like crude oil, as well as high hopes…