Energy

President Buhari meets NNPC chief as oil prices rise

Nigeria President Muhammadu Buhari on Thursday approved the recomposition of the Niger Delta Development Commission (NDDC) board after a forensic audit of the organization.

President Muhammadu Buhari on Wednesday met behind closed doors with the Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Mela Kyari, at the Presidential Villa, Abuja.

The agenda of the meeting was unknown as at the time of filing this report.

The meeting came amidst the escalating tension between the United States and Iran following the killing of an Iranian commander last week and the subsequent retaliatory attacks on military bases housing American troops in Iraq.

The President, who equally serves as Minister of Petroleum Resources, would also be meeting with the Minister of State, Petroleum Resources, Mr Timipre Sylva, later on Wednesday.

Brent crude, the global benchmark, gained 2.4% to reach $70.24 per barrel on Monday, the first time prices have hit that amount in more than seven months.

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