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Nigeria's state oil firm NNPC has extended its crude-for-product swap contracts, the country's main avenue to meet the bulk of its fuel needs, until June 2019, sources familiar with the matter said.
It was gathered that as part of the efforts to encourage local participation in the lifting contracts, the corporation selected 20 Nigerian companies, unlike in the 2017/2018 contracts where 18 Nigerian companies made the list.
An oil and gas merchant, Capt. Emmanuel Iheanacho, has attributed the persistent scarcity of petrol to monopoly of the product by the Nigerian National Petroleum Corporation (NNPC).
No fewer than 40 vessels are expected to berth at Lagos ports this week, as petroleum products takes the lead with nine tanker vessels laden with Premium Motor Spirit (PMS), otherwise known as petrol, diesel, and aviation fuel.
Against the backdrop of the ongoing fuel scarcity, the prices have skyrocketed as petrol is currently selling at N200 per litre in Lagos, the News Agency of Nigeria (NAN).
Oil marketers on Saturday commenced the loading of about 66 million litres of Premium Motor Spirit, popularly known as petrol, from their various depots in Lagos for onward distribution to all parts of the country.
The Department of Petroleum Resources (DPR), Kano Field Office, said it had sanctioned eight filling stations in Kano for committing various offences.
The Federal Government has ordered the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, to ensure that the fuel scarcity currently being experienced across the country does not extend beyond this weekend.
Banks have confiscated and placed on sale 13 tank farms, scores of filling stations, landed properties and exotic cars seized as collateral from debtors in the downstream sector, it was gathered at the weekend, as recovery of $600 million loans in the sub-sector takes a new twist.
The Nigerian Police Force the Nigerian Army on Friday announced that they have resolved the conflict that ensued between them during the governorship and House of Assembly election in Rivers State.
The United Kingdom and France say they will continue to explore areas where they can maximise support to Nigeria in particular, and West Africa in general, in addressing security challenges.
A 35-year-old trader, Iyabode Kolapo, who allegedly punched her friend in the face for demanding back the N600 she loaned her, on Friday appeared in an Ikeja Chief Magistrates’ Court.
The National Chairman of the Peoples Democratic Party, PDP, Prince Uche Secondus has called out President Muhammadu Buhari, the Chairman of the Independent National Electoral Commission, INEC, Prof Mahmood Yakubu, and the military chief for their central roles in a grand design to destroy Rivers state if they fail to have their way electorally.
The Osun State Governorship Election Petitions Tribunal sitting in Abuja has declared as winner Peoples Democratic Party and its candidate in the 2018 governorship election in the state, Ademola Adeleke.
The Finnish data protection watchdog has confirmed it’s investigating HMD Global’s Nokia-branded phones over reports they were found to be sending unencrypted data to a Chinese server.
A 59-year-old husband, Kolawole Mathew, on Tuesday asked an Ado-Ekiti Customary Court to dissolve his 21-year-old marriage to his wife, Ajoke, over threat to life.
Congolese opposition figure Franck Diongo received a rousing welcome as he was freed from the Makala prison on Saturday. It’s his first taste of freedom draped in the flag of the Democratic Republic of Congo.
The Independent National Electoral Commission (INEC) has said that it did not declare any of the contestants from the 25 Local Government Areas winner in the March 9, 2019 governorship and State House of Assembly elections in Niger State.
The rector of the Kogi State Polytechnic, Lokoja, Prof. Mohammed Atureta, has decried what he described as the prevalence of various acts of indiscipline among Nigerian youths.