Nigeria’s lower chamber urges President to sign petroleum bills into law
Businessam Staff
January 19, 2018
Yakubu Dogara, Speaker of Nigeria’s house of representatives, has urged President Muhammadu Buhari to, as a matter of urgency, sign into law the Petroleum Industry Governance Bills (PIGB) passed into law by the National Assembly. This follows the passage of the legislation by the house of representatives on Wednesday, same as the version passed by […]
NNPC’s Baru orders immediate repair of exploded Escarvos pipeline, assures gas supply resumes today
Businessam StaffJanuary 11, 2018
Maikanti Baru, The Nigerian National Petroleum Corporation (NNPC) Group Managing Director, has directed that repair works should be executed immediately on the Escarvos to Lagos Pipeline (ELP) ruptured by an explosion today along Egbokodo-Omadino, in Warri South Local Government Area of Delta State to restore supplies from Escravos. According to the statement on the company’s […]
Nigeria’s state oil company plans power plants in Ajaokuta, Abuja
Businessam StaffDecember 20, 2017
The Nigerian National Petroleum Corporation, NNPC plans to build power plants with combined capacity of 4600 megawatts in Abuja, Kaduna and Kano States. Maikanti Baru, the NNPC’s Group Managing Director disclosed this during a courtesy call on him by the Executive Governor of Niger State, Alhaji Abubakar Sani Bello, Tuesday in Abuja, according to NAN. […]
Nigeria oil union suspends nationwide strike
Businessam StaffDecember 18, 2017
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has suspended its planned nationwide strike. The decision to suspend the strike which was planned to commence 11:59 pm today (Monday) followed the intervention of the Director of State Security Service, Chris Ngige, the Minister of Labour and Productivity, and Ibe Kachikwu,the Minister of State […]
Nigerian oil union in talks with labour ministry -union leader
Businessam StaffDecember 18, 2017
Representatives of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) are holding talks with labour ministry officials over an indefinite strike which began on Monday, the union’s general secretary said, according to Reuters. The oil union began an indefinite strike Monday to protest unfair labour practices at a local petroleum-exploration company. Oil […]
Marketers demand clamp down on private depots as fuel scarcity looms
Businessam StaffDecember 4, 2017
Marketers of petroleum products have demanded a clamp down on the private depot in Apapa over alleged total disregard by some of the depot operators for the ex-depot price fixed by the Federal Government. The government had, through its agency; Petroleum Products Pricing Regulatory Agency (PPPRA) fixed N133.28 as price for Premium Motor Spirit (PMS) […]
Russia signs nuclear power plant deal with Nigeria
Businessam StaffOctober 31, 2017
Russia has signed agreements with Nigeria to build and operate a nuclear power plant in the oil-rich West African nation that has a deficit of reliable power. Feasibility studies for the plant and a research center construction will include site screening, capacity, financing, and time frames of the projects, state-owned Russian nuclear company Rosatom said […]
Nigeria’s state oil set to secure downstream assets
Businessam StaffOctober 30, 2017
The Nigerian National Petroleum Corporation (NNPC) has, according to Ndu Ughamadu, the company’s Group General Manager, Public Affairs Division, mapped out strategies to boost security around its depots and pump stations to ensure they remain functional. A statement by Ndu Ughamadu, according to NAN, said this was part of efforts to consolidate on the successes recorded […]
Obaseki, others urge Nigeria’s FG to deregulate petroleum sector
Businessam StaffOctober 24, 2017
Jackson Gaius-Obaseki, the former Group Managing Director of the Nigerian National Petroleum Company (NNPC) has advised the Federal Government to consider full deregulation of the value chains of the nation’s petroleum sector. Gauis-Obaseki, currently the Chairman of the Board of Directors of the Brass Liquefied Natural Gas Company Limited, gave the advice at the 11th […]
Average price for petrol drops, kerosene increases, NBS reports
Businessam StaffOctober 20, 2017
The average price paid by consumers for Premium Motor Spirit (petrol) dropped by 1.2 percent year-on-year, the Nigeria Bureau of Statistics (NBS), has said In the report on the NBS website, the Bureau also listed states with the highest and lowest average price of petrol in comparison with the approved government price of N145. “The […]