ifeoluwa

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Osinbajo calls for greater cooperation among African countries in oil sector

The Vice President of Nigeria, Yemi Osinbajo, on Thursday called for greater cooperation among oil-producing African countries. Mr. Osinbajo made the call in his speech at the closing ceremony of the maiden edition of the Nigerian International Petroleum Summit in Abuja. “It is clear that Africa must increasingly look within…

Local refineries even at full capacity not sufficient for Nigeria’s fuel consumption – Expert

A professor of petroleum engineering at the Federal University of Petroleum Resources Effurum (FUPRE), Ogbarode Napoleon, has said that petrol production by the local refineries will not be sufficient for local consumption by 2020. According to him, even with operation at full capacity, the Kaduna, Warri, Old Port Harcourt, New…

Fuel scarcity may worsen as depot owners give 14-day ultimatum

While Nigerians across many states continue to grapple with the unavailability of petrol at the official price, the situation may get worse due to threat by depot owners. On Tuesday, the Depot and Petroleum Products Marketers Association of Nigeria, DAPPMAN, gave the federal government a 14-day ultimatum to settle a…

Ibe Kachikwu

Petroleum Summit: Pricing major issue affecting oil industry – Kachikwu

The Minister of State for Petroleum Resources, Ibe Kachikwu, on Tuesday identified pricing mechanism as one of the issues negatively affecting the progress of the oil and gas industry. He disclosed this in a speech he made shortly before a session on the short and medium term priorities to grow…

Buhari speaking

Buhari speaks as International Petroleum Summit opens in Nigeria

President Muhammadu Buhari, represented by the Secretary of the Government of the Federation, Boss Mustapha launched the maiden edition of the Nigeria International Petroleum Summit, NIPS, in Abuja on Monday. NIPS, according to the Permanent Secretary of the Ministry of Petroleum Resources, Folasade Esan, represents ''Nigeria’s contribution to the quest…

Nigerians paid less for cooking gas in January 2018 – NBS

The average price of cooking gas in Nigeria decreased by at least 14 per cent between January 2017 and January 2018, a National Bureau of statistics, NBS, report has shown. The report titled, Liquefied Petroleum Gas, LPG, (Cooking Gas) price watch, was published on the bureau’s website. The average price…

Average price of diesel increased by 3.9 per cent in January – NBS

The average price paid by Nigerians for diesel increased by 3.9 per cent to N213.8 in January 2018 from N205.8 in December 2017, the National Bureau of Statistics, NBS has said. This was disclosed in the Automotive Gas Oil (Diesel) Price Watch report published on the bureau’s website on Tuesday.…

Winifred-Oyo-Ita

150 deputy directors in federal civil service fail promotion exams

At least 150 federal civil service deputy directors who sat for promotion examinations to the position of directors failed the test. This was disclosed by the Head of Service of the Federation, Winifred Oyo-Ita, at a quarterly meeting with organised labour, conducted by her office in Abuja, Wednesday. Mrs. Oyo-Ita…

NBS

Consumers paid 31.04% more for petrol in January – NBS

Consumers of premium motor spirit, PMS, also called petrol, paid an average of N190.90 per litre of the product in January, the National Bureau of Statistics, NBS has said. When compared with the retail pump price of N145 per litre approved by the Petroleum Products Pricing Regulatory Agency, PPPRA, indications…

NSCDC arrest petrol station manager for fuel diversion

A filling station manager has been arrested by the Nigerian Security and Civil Defence Corps, NSCDC in Abuja for allegedly diverting 26,000 litres of petrol, the Nigerian National Petroleum Corporation, NNPC, has said. The Group General Manager, GGM, Group Public Affairs Division of the corporation, Ndu Ughamadu, disclosed this in…

Weekend Shopping: Here’s where to buy cheap goods in Abuja

Finding retail outlets with fairly affordable goods can be a challenge for shoppers in a fast growing city like our nation’s capital, Abuja. To help, PREMIUM TIMES carried out an analysis of the prices of commodities in major supermarkets in the FCT. Sampled stores were Shoprite, Sahad Stores, H-Medix, Next…

NNPC Task Force arrests four more black marketers

Four illegal petrol hawkers were arrested by the Nigerian National Petroleum Corporation Special Task Force on Filling Stations Monitoring on Thursday. This was disclosed in a statement sent to PREMIUM TIMES on Friday, signed by the corporation's Group General Manager, Group Public Affairs Division, Ndu Ughamadu. According to the statement,…

NLC, TUC submit new petition to raise minimum wage above N56,000

The Nigeria Labour Congress, NLC, and the Trade Union Congress, TUC, have submitted a new request for an increase of the national minimum wage above N56,000 per month to the tripartite committee on minimum wage. This was disclosed at the 11th Quadrennial Delegates Conference of the Nigeria Civil Service Union…

NNPC Headquarters, Abuja

Fuel Scarcity: NNPC task force arrests two petrol station managers, six fuel hawkers

Two Azman filling station managers and six illegal fuel hawkers have been arrested by the Nigerian National Petroleum Corporation, NNPC special task force monitoring the fuel crisis in Abuja. This was disclosed in a statement sent to PREMIUM TIMES, signed by the Group General Manager, Group Public affairs division or…

President-Muhammadu-Buhari-in-AGH

Experts, citizens react to Buhari’s executive order on local content

Economic experts and citizens have reacted to President Muhammadu Buhari’s Monday's executive order aimed at encouraging local content and initiatives in the economic sector. The executive order which was signed by the president on Monday tagged Executive Order 5 is to improve local content in public procurement with science, engineering…

Five benefits that could come with President Muhammadu Buhari’s new executive order

President Muhammadu Buhari on Monday signed the Executive Order Five, which states that ‘‘procuring authorities shall give preference to Nigerian companies and firms in the award of contracts, in line with the Public Procurement Act 2007.’’ The proclamation entitled ‘‘Presidential executive order 5 for planning and execution of projects, promotion…

NBS

Bank credit to private sector fell in 2017 Q4 — NBS

Credit facilities allocated to the private sector by banks in the fourth quarter of 2017 decreased to N15.74 trillion from the N15.83 trillion recorded in the third quarter, a Nigerian Bureau of Statistics, report has shown. This was disclosed in a report titled, “Selected Banking Sector Data: Sectorial Breakdown of…

Utako market traders turn to God over demolition of market by AMAC

Traders at the Utako ultra-modern market marched on Monday, against the alleged planned demolition of the already constructed Utako Ultra-Modern Market by the Abuja Municipal Area Council, AMAC. In December, the traders said that the Abuja Municipal Area Council, AMAC, had moved in equipment to demolish the market to pave…

kayode-fayemi

How Nigerian govt. plans to invest N20 billion in mineral exploration- Minister

The Federal Ministry of Mines and Steel Development, FMMSD, is finalising plans to spend N20 billion on exploration, the minister in charge, Kayode Fayemi has said. The minister disclosed this in Abuja on Thursday at the project presentation of the Mineral Sector Support for Economic Diversification Project, MinDiver, in partnership…

Kayode Fayemi

How Nigerian govt. plans to invest N20 billion in mineral exploration- Minister

The Federal Ministry of Mines and Steel Development, FMMSD, is finalising plans to spend N20 billion on exploration, the minister in charge, Kayode Fayemi has said. The minister disclosed this in Abuja on Thursday at the project presentation of the Mineral Sector Support for Economic Diversification Project, MinDiver, in partnership…

NNPC Headquarters, Abuja

NNPC set to invite investors for Nigerian refineries

Agreements on the potential investors for the Warri Refining and Petrochemical Company Limited, Port Harcourt Refining Company Limited and the Kaduna Refining and Petrochemical Company limited are being fine-tuned, the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Maikanti Baru has said. He disclosed this on Tuesday at…

16 million unemployed in Nigeria in 2017 third quarter — NBS

Out of a total active labour force of 85.08 million people in Nigeria, about 16 million people were unemployed in the third quarter of 2017, the National Bureau of Statistics, NBS, has said. This was contained in a report on Labour Force Statistics in the third quarter of 2017 published…

Pic 19. FEC MEETING

ANALYSIS: Buhari’s ministers’ scorecard after two years (3)

November 2017 marked two years that most of the ministers in President Muhammadu Buhari’s cabinet assumed office. PREMIUM TIMES, in 2016 reviewed the performances of the ministers after their first year in office with many of them getting average scores. This is the third part in the series for 2017. Read the first and…

NNPC station

NNPC distributes 1.4 billion litres of petroleum products in October 2017

A total of 1.4 billion litres of white petroleum products (petrol, diesel and kerosene) was sold and distributed across Nigeria in October 2017, the Nigerian National Petroleum Corporation, NNPC, has said. A statement sent to PREMIUM TIMES, signed by the Group General Manager, Group Public Affairs Division of the NNPC,…

Sultan felicitates with Christians at Christmas

The Sultan of Sokoto, Muhammad Abubakar, has felicitated with Nigerian Christians on the occasion of the 2017 Christmas celebrations. This was contained in a statement signed by the Deputy Secretary General of the Nigerian Supreme Council for Islamic Affairs, NSCIA, Salisu Shehu, sent to PREMIUM TIMES on Friday. The statement…