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Petroleum Industry Fiscal Bill

Expert: Oil companies shut down fields for 180 days annually

A former Director of the Department of Petroleum Resources (DPR) and Lead Consultant to the National Assembly on the Petroleum Industry Bill (PIB), Mr. Osten Olorunsola, has disclosed that oil and gas companies operating in the country shut down producing fields for up to 180 days yearly as a result of the operational challenges in the Niger Delta.

PIB: NNPC calls for simplified fiscal terms

The Nigerian National Petroleum Corporation (NNPC) has urged the Senate to consider simplifying the fiscal provisions in the Petroleum Industry Fiscal Bill (PIFB) to ensure easy implementation of the law.

Senator Saraki lists gains of three new PIBs

The President of the Senate, Dr Bukola Saraki, has said that the three new Petroleum Industry Bills (PIB) being considered by the Senate will boost economic growth.

NNPC seeks cut in duration, split of oil licenses

The Nigerian National Petroleum Corporation, NNPC, yesterday, called for a downward review of the duration of petroleum licences as stipulated in the draft Petroleum Industry Administrative legislation, PIAB, currently before the National Assembly.

President Buhari urged to sign PIGB Bill

Prof. Wumi Iledare of the University of Port Harcourt, has urged President Muhammadu Buhari to assent to the Petroleum Industry Governance Bill (PIGB) passed by the National Assembly.

Fuel scarcity is man-made – Senator Saraki

The Senate President, Bukola Saraki, says the ongoing fuel scarcity in the country is man-made and that those responsible must pay the price for visiting needless hardship on Nigerians.

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Farouk Lawan demanded $500,000 bribe – Femi Otedola tells court

Businessman, Femi Otedola, on Wednesday, revealed that a former House of Representatives member, Farouk Lawan, demanded a $500,000 bribe from him to remove his company, Zenon Petroleum and Gas Limited from the list of oil companies allegedly involved in fuel subsidy fraud.

Yahaya Bello promises N100 million reward for information on aide’s killers

Governor Yahaya Bello of Kogi has promised a N100 million reward to anyone with information that could lead to the arrest of those that killed Malam Yusuf Adabenege, his Special Adviser on Culture and Tourism.

Kogi: Why we shut telecoms facilities

The Kogi state government on Wednesday countered the claims of the Association of Licensed Telecommunications Operators (ALTON) over the shutting down of facilities in the State, saying the action was based on court orders.
Turkish President Recep Tayyip Erdogan makes a speech during Turkey's ruling Justice and Development (AK) Party’s provincial chairmen meeting at the party headquarters in Ankara on March 30, 2018. - AFP PHOTO - ADEM ALTAN

Recep Erdogan takes aim at George Soros over jailed Turkish philanthropist

Turkish President Recep Tayyip Erdogan on Wednesday accused George Soros of aiding a jailed Turkish philanthropist facing hugely controversial charges of seeking the overthrow of the government, describing the Hungary-born American billionaire as a "famous Hungarian Jew".