Energy

The independent oil marketers operating under the aegis of the Private Depot of Oil and Gas Marketers Association of Nigeria (PDOGMAN) has impressed on the federal government the need to embark on full deregulation of the downstream sector of the nation’s oil and gas industry, saying this would benefit the economy on the long run.

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has given the Federal Government a two-week ultimatum to rehabilitate the bad roads across the country.

The Nigeria Labour Congress (NLC) has kicked against the new fuel price of N143.8 announced by the Petroleum Products Price Regulatory Agency (PPPRA) on Wednesday, saying “this might just be the last straw that would break the camel’s back.”

Dr Titus Okunronmu,a former Director, Budgetary Department, Central Bank of Nigeria (CBN) has urged the Federal Government to resuscitate all the nation’s refineries towards addressing the problem of fuel importation.

The Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) has threatened an industrial action over the poor state of roads in the country.

The lack of quality data is the basic and most fundamental problem in the Nigerian power sector, the Chairman of the Senate Committee on Power, Gabriel Suswam (PDP-Benue), has said.

A group, All Electricity Consumers Protection Forum, on Thursday commended the National Assembly for playing a pivotal role in halting the increment in tariffs by the electricity Distribution Companies (DisCos).

Nigeria’s first professor of the Capital Market and former Imo State Finance Commissioner, Prof Uche Uwaleke, on Wednesday described the hike in petrol price from N123.50k/litre to a price band of N140.80 to N143.80 as an indication that the Federal Government was ready to gradually exit the fuel subsidy regime.

Mr Emeka Okwuosa, Chairman Oilserv Ltd., says the Ajaokuta-Kaduna-Kano (AKK), gas pipeline project is commercially viable and can service its loan before the stipulated time frame.

The PPPRA says the recommended petrol retail band for a litre of petrol is now between N140.80 and N143.80.

Shell Nigeria Gas (SNG) has completed the final phase of its 20km domestic gas pipeline expansion project in Abia State, connecting Agbor Hill, Osisioma and Araria industrial zones.

Governor Abdullahi Umar Ganduje of Kano State has described the flagging-off of the construction phase of Ajaokuta-Kaduna-Kano Gas Pipeline project by President Muhammadu Buhari as a demonstration of political will to fast track the re-industrialisation of the country as well as restore the glory as a business hub.

The call for the suspension of the proposed service reflective tariff was initiated by the National Assembly on Monday due to their concerns on its timing and what they saw as lapses in the internal workability of the plan within the sector.

A capital market operator, Mr Godwin Anono, says the World Bank loan of $750million to fix energy challenges in the country will unlock the country’s economic growth.

The Nigerian National Petroleum Corporation (NNPC), Monday, disclosed that financing for the Ajaokuta-Kaduna-Kano (AKK) gas pipeline would be provided by China and Sinosure.

Botswana has tapped into its strategic fuel reserves to alleviate shortages caused by import delays during the coronavirus crisis and also what the government has called panic-buying.

The Host Communities of Nigeria Producing Oil and Gas (HOSCON) says it will engage 10, 000 youths in petroleum production to safeguard the country’s crude oil from theft.

The Petroleum Products Pricing Regulatory Agency (PPPRA) says it is no longer fixing the pump price of Premium Motor Spirit (PMS) also known as petrol for marketers.