The Nigerian National Petroleum Corporation (NNPC) Sunday said that the reported explosion which rocked Abule Ado Area of Lagos State in the early hours of the day was as a result of gas explosion which occurred after a truck hit some gas cylinders stacked in a gas processing plant located near the corporation’s system 2B Pipeline Right…
Following the sharp drop in crude oil prices in the international market on the back of the spread of coronavirus, the price of Premium Motor Spirit, PMS, in the Nigerian market has experienced further dip to N112.26 per litre. According to the latest pricing template from the Petroleum Products Pricing Regulatory Agency (PPPRA), the landing…
Rivers State Governor, Nyesom Wike, at the weekend vowed to develop the agricultural sector and make it the main revenue earner following declining price of crude oil at the international market. The governor spoke while receiving the Ambassador of Kingdom of the Netherlands to Nigeria, Mr. Harry Van Dijk and his team at the Government…
The Enugu Electricity Distribution Company (EEDC) has said that its customers in parts of the state will experience power outage at the weekend. EEDC’s Head of Communications, Mr Emeka Ezeh made this known in a statement on Saturday. Ezeh said that the scheduled outage would occur on Saturday, March 14, from 9a.m. to 5p.m.. He…
The 11 electricity Distribution Companies (DisCos) failed to remit N120.85 to the Nigeria Bulk Electricity Trading (Plc) in the Third Quarter of last year, The Nation learnt at the weekend. Of the total invoice of N179.66billion that the NBET issued to the DisCos for energy purchased, the distributors only paid N58.81billion, according to the Nigeria…
Following the recent management reshuffling at the Nigerian National Petroleum Corporation, Chief Operating Officers (COO) have assumed thier new positions. It would be recalled that THE WHISTLER had reported that an internal memo addressed to staff in the corperation said President Muhammadu Buhari had approved the redeployment, appointments and retirement of some staff as part…
Lagos — Nigeria’s number one crude grade, Bonny Light currently battles for market share at the international market, according to traders. Reports say the grade is facing a decline in demand, adding that Azeri Light, a grade produced by Azerbaijan, a landlocked country in the South Caucasus region of Eurasia at the crossroads of Eastern…
The President, Dangote Industries Limited, Aliko Dangote, will begin oil production in July from two assets he acquired from Royal Dutch Shell Plc. Dangote, Africa’s richest man, is working with Chinese and Malaysian contractors and has completed a development plan for the Kalaekule field on its Oil Mining Lease 72 asset. The Group Executive Director,…
An economist, Prof. Sheriffdeen Tella, has urged the Federal Government to institute a long-term national plan that will strengthen economic diversification to enhance revenue generation. Tella, Professor of Economics, Olabisi Onabanjo University, Ago-Iwoye, Ogun, said this while reacting to the crash in crude oil price. President Muhammadu Buhari recently set up a committee to review…
The price of Premium Motor Spirit, also known as petrol, has crashed from N145 to N112.26 per a litre following the continued fall in the price of crude oil. According to in the Petroleum Products Pricing Regulatory Agency, PPPRA, the price of fuel dropped to the current level as refiners now incur less cost than…