Petroleum

President Muhammadu Buhari will preside over the valedictory session of the Federal Executive Council (FEC), on Wednesday, exactly a week before his inauguration for another four-year tenure.

Chief Martin Onovo, a petroleum sector technocrat and versatile politician, has taken a look at the recommendation of the International Monetary Fund (IMF) for Nigeria to remove of fuel subsidy, and stated that the organisation’s counsel to the country in the last 40 years has consistently failed.

The Edo State Government has commended petroleum marketers in the state for abiding by the directive to ensure Premium Motor Spirit (PMS) does not sell above the approved N145 per litre, noting that their sustained collaboration has led to hitch-free distribution of the product across the state.

Investments in sectors like petroleum, power, aviation, agriculture and railways, featured prominently, at the meeting of the two leaders, Presidential spokesperson, Femi Adesina said in a statement issued at the end of the meeting.

Investments in sectors like petroleum, power, aviation, agriculture, railways, and many others, featured prominently as President Muhammadu Buhari, on Tuesday, hosted the Emir of Qatar, Tamim bin Hamad Al-thani, at State House, Abuja.

For the first time in 2019, economic activities grew faster as the manufacturing and non-manufacturing sectors continued to expand in the month of March.

Chairman of the Senate Committee on Petroleum (Downstream), Kabiru Garba Marafa, has written the President of the Court of Appeal, Justice Zainab Adamu Bulkachuwa, over the delay in the constitution of the appeal panel on Zamfara All Progressives Congress (APC) primaries’ tussle.

President of Dangote Industries Limited, Aliko Dangote, has disclosed plans of the company to increase cement exports to $600million.

The Central Bank of Nigeria (CBN) said the Manufacturing Purchasing Managers’ Index (PMI) stood at 57.1 index points as at February, indicating an expansion in the manufacturing sector for 23 consecutive months.

The Independent Petroleum Marketers Association of Nigeria (IPMAN), has directed its members nationwide to reduce petroleum pump price from N145 per litre to N140.

Chairman of the Senate Committee on Petroleum (Downstream), Senator Kabiru Garba Marafa (APC, Zamfara), has alleged that, Governor Abdulaziz Yari of Zamfara state, should be held responsible for the sabotage that led to the postponement of the country’s general elections.

The chairman of the Senate Committee on Petroleum (downstream), Senator Kabiru Garba Marafa, has commended the Independent National Electoral Commission (INEC) for maintaining its earlier position on the rejection of Zamfara All Progressive Party (APC) candidates.

The Central Bank of Nigeria (CBN) said the Manufacturing Purchasing Managers’ Index (PMI) stood at 61.1 index points as at December 2018, indicating an expansion in the manufacturing sector for 21 consecutive months.

President Muhammadu Buhari vowed Friday to go tougher on corruption if he is re-elected in the February 16, 2019 election.

Emmanuel Ibe Kachikwu, the Minister of State, Petroleum Resources, has said that the Egina FPSO project, once commissioned this month, will increase Nigeria’s daily crude oil production by 200, 000 barrels.

The Minister of Finance, Mrs. Zainab Ahmed, and the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, have been summoned to appear before a House of Representatives joint committee next Thursday to explain their roles in an alleged unbudgeted funds being paid as fuel subsidy.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that it would not be a party to the planned strike by other oil marketers.

The Federal High Court, Lagos, has adjourned until Feb.13, 2019, a $69 million suit filed by the Federal Government against Chevron Petroleum Nigeria, seeking to recover oil revenue.