The federal government has promised to make N75,000 cash transfers to 15 million poor Nigerian homes in 2025, but it is yet to fulfil its pledge to increase allowances for National Youth Service Corps (NYSC) members from a monthly N33,000 to N77,000. On Wednesday, Nentawe Yilwatda, the Minister of Humanitarian Affairs and Poverty Reduction, appeared…
The Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has expressed concern over the power crisis, citing persistent Grid collapses and other systemic failures as worrisome. It noted that in 2024 alone, the country recorded 12 grid collapses, along recurring tripping of transmission lines and the inability to generate adequate electricity, with output…
The Dangote Petroleum Refinery has increased the price of Premium Motor Spirit (PMS), popularly known as petrol, from N899.50 to N955 per litre for marketers, citing the rising cost of Brent crude oil as a major factor. In an official statement issued on Friday, the refinery disclosed that the new pricing structure takes effect from…
OPEC says Nigeria’s crude oil production dropped marginally in December The Organisation of Petroleum Exporting Countries (OPEC) says Nigeria’s average daily crude oil production dropped marginally to 1.485 million barrels per day (bpd) in December 2024. In its monthly oil market report OPEC said the current output figure represents a 1 percent drop from the…
The Nigerian National Petroleum Company Limited (NNPCL) has declared that it remitted N10 trillion to the Federation Account as of September 2024. This was revealed by Mele Kyari, group chief executive officer (GCEO), on Wednesday, during the presentation of the revenue generation performance of NNPCL in 2024 and projection for 2025 to the National Assembly…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has revealed that Nigeria’s Compressed Natural Gas (CNG) conversion capacity was boosted by over 2,500 per cent in 2024. This was disclosed by the agency’s Chief Executive Officer, Farouk Ahmed, while he was speaking at the inaugural Petroleum Industry Stakeholders’ Forum, organised by the Ministry of…
The Federal Government will continue to work with relevant stakeholders to ensure the protection of electricity facilities in order to provide stable and uninterrupted power to Nigerians. The Minister of Power, Mr Adebayo Adelabu, stated this at the Inauguration of the 110MVA power Transformer at the Isolo transmission substation, Lagos. The newly inaugurated 110MVA transformer…
PETAN Chairman, Engr. Wole Ogunsanya joined industry stakeholders in Abuja for the Petroleum Industry Stakeholders Engagement (PISF) organised by the Ministry of Petroleum Resources. In his contribution, Engr. Ogunsanya proposed that the Ministry should among other things, Upholds Section 3.3 of the Local Content Act 2010 to give first consideration to local contractors in divested…
The Board of Directors of Eterna Plc has appointed Mr. Olumide Adeosun as the new Managing Director/Chief Executive Officer of Eterna Plc. According to a statement issued on Thursday by David Edet, the Company’s Secretary/Legal Adviser, the appointment will take effect on February 3, 2025. The Board commends the outgoing MD/CEO, Mr. Abiola Lawal, who…
The Independent Marketers Association of Nigeria (IPMAN) has turned to the Dangote Petroleum Refinery, following a significant 4.7% rise in the depot price of Premium Motor Spirit (PMS), commonly known as petrol. The price surged from N907 per litre last Friday to N950 per litre. The increase is linked to the rising cost of crude…
