Reps Push PIA Changes to Protect Local Refining Industry
By Oluwakemi Kindness The House of Representatives Committee on Petroleum Resources (Downstream) is pushing amendments to the Petroleum Industry Act (PIA) to strengthen crude oil supply to domestic refineries, protect local refining investments and tighten regulations governing petroleum product imports. The committee’s chairman, Ikenga Imo Ugochinyere, disclosed this on Monday at the closing technical briefing […]
FG Offers 30-Day Petrol Discount at NNPC Stations
By Oluwakemi Kindness The Federal Government has announced a 30-day margin discount on petrol sold at NNPC Limited stations nationwide, with public transport operators to receive priority under the arrangement. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the measure on Thursday in Abuja at a news briefing on fuel […]
PENGASSAN Warns Regulatory Overlaps Threaten Oil Sector
By Chinedu Echianu Confusion and overlaps in the regulatory framework governing Nigeria’s oil and gas industry are threatening investment, efficiency and stability in the sector, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned. PENGASSAN President, Festus Osifo, raised the concern at the fifth edition of the PENGASSAN Energy and Labour […]
Diesel Price Jumps 86% in One Year, Hits N3,277/Litre – NBS
By Oluwakemi Kindness The National Bureau of Statistics (NBS) says Nigerians faced mounting energy costs in May as the average retail price of diesel surged by 86.4 per cent year-on-year to N3,277.47 per litre, the highest increase recorded among the country’s major petroleum products. The NBS latest Price Watch report on Monday showed that diesel, […]
Dangote Refinery Denies Fuel Export, Re-Import Claims
By Mardiyyah Abubakar Dangote Petroleum Refinery and Petrochemicals has dismissed claims that its petroleum products are exported to Lomé and later re-imported into Nigeria. In a statement, the company described the allegation as misleading and unsupported by facts, trade data, or commercial realities. Although the refinery said it does not usually respond to baseless claims, […]
Speaker Abbas Commends Tinubu for Reviving Nigeria’s Downstream Oil Sector
By Oluwakemi Kindness The Speaker of the House of Representatives, Tajudeen Abbas, has praised President Bola Ahmed Tinubu’s administration for revitalizing Nigeria’s oil and gas industry, particularly the downstream sector. Speaking on Monday at the opening of the First Annual Downstream Petroleum Week in Abuja, Abbas said the sector is experiencing a historic revival under […]