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Govt won’t engage in crude oil price-fixing, says NUPRC

22.02.2025
The Federal Government has said it would not resort to price-fixing for crude oil. It insisted on the commitment to comply with international best practices to allow the willing-seller, willing-buyer option. The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, stated this in Abuja during a meeting with members of the Oil...
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Nigeria should be producing up to 4mbpd — OPEC

22.02.2025
The Chairman of the Board of Governors of the Organisation of the Petroleum Exporting Countries, Ademola Adeyemi-Bero, has said Nigeria should be producing up to four million barrels of oil per day considering its hydrocarbon reserves. Adeyemi-Bero stated this on Thursday at the Heirs Energies’ Nigeria Petroleum Industry Leadership Discourse in Abuja. The energy stakeholder...
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LASAA denounces faulty billboard, sanctions owner

22.02.2025
The Lagos State Signage and Advertisement Agency has denounced the legality of a billboard in Abati Barracks, Surulere, stating that it has fallen twice and caused injuries and property damage. The agency, in a statement, declared the structure illegal and sanctioned its owner, Radius Resources Limited. The Managing Director of LASAA, Fatiu Akiolu, reaffirmed the...
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Refiners blame FG for failure to meet local fuel demand

21.02.2025
The Crude Oil Refinery-owners Association of Nigeria has slammed the oil sector sectors for the inability of CORAN members to meet the domestic fuel supply requirements nationwide. The Nigerian Midstream and Downstream Petroleum Regulatory Authority pegged the country’s petrol demand at 50 million litres daily. CORAN said the regulators have failed to allocate sufficient crude...
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N13.7tn Federation Account revenue withheld by NNPCL – FAAC report

21.02.2025
The Nigerian National Petroleum Company Limited has withheld a staggering N13.763tn in revenue from the Federal Government, exacerbating struggles to fund the national budget. This is according to documents obtained from the Federal Accounts Allocation Committee following its January 2025 meeting on Wednesday. This amount covering a period between 2012 and 2024 has significantly impacted...
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Terminal operator backs FG’s single window on trade

21.02.2025
APM Terminals Nigeria has reaffirmed the company’s commitment to facilitating trade at the port and supporting the National Single Window initiative. According to a statement on Thursday, the Chief Executive Officer of APMT Nigeria, Frederik Klinke, stated this when he hosted the leadership of the NSW project in Apapa on Wednesday. The statement added that...
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Cadbury Nigeria marks 60th anniversary

21.02.2025
Cadbury Nigeria Plc has celebrated its 60th anniversary, reaffirming its commitment to value creation and sustainable growth in the country. According to a statement, the company’s former chairman, Christopher Kolade, in a recent lecture held in Lagos to commemorate the milestone, underscored the importance of core business principles in an evolving landscape. Kolade stressed that...
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NDIC charges external solicitors on debt recovery

21.02.2025
The Nigeria Deposit Insurance Corporation has charged its external solicitors to be diligent in aiding the corporation to achieve its mandate of debt recovery and asset realisation. This was disclosed by the Managing Director/Chief Executive, NDIC, Bello Hassan, on Thursday in Lagos at the 2024 Sensitisation Seminar for External Solicitors of NDIC under the theme,...
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Bearish sentiment resumes as NGX drops by N26bn

21.02.2025
Bearish sentiment resurfaced in the Nigerian stock market on Thursday as investors lost N26bn, dragging the market capitalisation of the Nigerian Exchange to N67.7tn. The All-Share Index dipped by 41.01 points, or 0.04 per cent to close at 108,568.50, reflecting a one-week loss of 0.55 per cent, a four-week gain of 5.62 per cent, and...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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