Nigeria government intensifies plan on modular refineries to create more jobs
Businessam Staff
March 13, 2018
Nigeria federal government said to be making progress on the establishment of modular refineries in oil-rich Delta state with the arrival of one set of package shipment already in the country. The Niger Delta Inter-Ministerial Committee, chaired by Yemi Osinbajo, country’s vice president has informed members at its meeting in Abuja that the refinery would […]
Nigeria now world’s largest importer of petrol- NNPC DG
Businessam StaffMarch 2, 2018
Maikanti Baru, Nigeria state oil company’s Group Managing Director said the country is the only member country in the Organisation of Petroleum Exporting Countries (OPEC) that imports petrol and is currently the largest importer of Premium Motor Spirit (PMS) in the world. The NNPC DG who spoke through Bello Rabiu, the company’s chief operating officer (COO), […]
Nigeria third best in data submission at OPEC
Ajose SehindemiFebruary 26, 2018
The Organisation of Petroleum Exporting Countries (OPEC), has commended Nigeria for ranking third among member countries in data submission. Omar Ibrahim, OPEC Governor for Nigeria, disclosed this at the OPEC Data Management Training Workshop in Abuja, on Monday. Ibrahim said Nigeria has done well in the provision of credible data in the oil and gas […]
Nigeria’s consumption of petrol declines 2.3% in 2017- statistics agency
Bukola OdufadeFebruary 21, 2018
Nigeria’s consumption of premium motor spirit (petrol) in 2017 declined by 2.3 percent in comparison with prior year, according to data released by the National Bureau of Statistics (NBS). The NBS data indicate that total consumption of premium motor spirit (petrol) fell to 18.36 billion litres in 2017 from 18.8 billion litres in 2016, a decline […]
Nigeria’s state oil company imports $5.8bn worth of fuel to curb crisis
Goddey OdinFebruary 21, 2018
Nigeria’s state oil company disclosed Tuesday that it had spent $5.8 billion on the importation of Premium Motor Spirit (PMS) since late 2017, in an effort to arrest the fuel shortage that has left people queuing for hours at filling stations and hobbled an already-struggling economy. Maikanti Baru, the company’s group managing director, represented by […]
Nigeria’s average petrol price per litre rise 28.4% year on year to N191 in January
Bukola OdufadeFebruary 13, 2018
Average price paid by Nigerian consumers for premium motor spirit (petrol) increased by 28.4 percent year-on-year and 11.1 percent month-on-month to N 190.9 in January 2018 from N171.8 in December 2017, according to data supplied by the National Bureau of Statistics (NBS). In a report released Tuesday the NBS indicated that Osun State topped the […]
Nigeria’s state oil company to import 100m litres of gasoline per day in Feb
Goddey OdinFebruary 9, 2018
Nigerian National Petroleum Corporation, NNPC, said it will import two cargoes of gasoline per day for the rest of February in order to boost supply and eradicate fuel queues in the shortage-hit nation. According to a statement released Thursday on the state oil company’s website, “each of the two cargoes is 50 million litres making […]
Nigeria’s state oil company sanitises fuel supply system, cracks down on marketers
Goddey OdinFebruary 8, 2018
Nigerian National Petroleum Corporation (NNPC) has announced its effort to sanitize petrol supply and distribution system in the country, so as to eliminate the persistent long queues in filling stations due to scarcity of the product. The company stepped up the arrest and prosecution of erring marketers and fuel hawkers across the country, according to Ndu […]
Nigeria, Niger plan joint refinery, to sign agreement soon
Businessam StaffFebruary 1, 2018
Nigeria and Niger have concluded plans to establish a new oil refinery to meet the petroleum products needs of the two nations. The multi-million dollar plant will be located in the border town between the Republic of Niger and Katsina State, Nigeria. In a statement, Nigeria’s ministry of petroleum, Nigeria disclosed that: ‘’The Honorable Minister of State for Petroleum […]
Nigeria’s FEC approves distribution model for additional 2,000mw of electricity
Ajose SehindemiJanuary 19, 2018
Nigeria’s Federal Executive Council meeting (FEC) presided over by President Muhammadu Buhari has approved a new model to expand the 33KVA and 11KVA electricity transmission lines to ensure distribution of extra 2,000 megawatts (mw) lying fallow at the power stations. The Nigerian government said about 7,000mw of electricity is being generated but the existing national […]