By Olufemi Soneye In the face of the challenges in the oil sector, particularly the current tightness in the supply of petrol, it has become fashionable to blame the national oil company, the Nigerian National Petroleum Company Ltd (NNPC Ltd), for everything. Last week, it was Prof. Pat Utomi who railed and fumed at the...
Category: Business
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UNLOCKING AFFORDABLE HOUSING: WALE EDUN LEADS TALKS ON LAUNCH OF MORTGAGE FINANCE FUND
In a significant stride towards making home ownership a reality for millions of Nigerians, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has today in his office in Abuja, convened a high-level meeting to discuss the launch of the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF). This...
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NNPC Ltd/Chevron JV Concludes Conversion of Assets into PIA Terms
…As Partners Eye JV’s 165,000 bopd Oil Production Target by Dec 2024 In line with the Petroleum Industry Act (PIA) 2021 provisions of transiting assets from the Petroleum Profit Tax (PPT) into PIA terms, the NNPC Ltd and its Joint Venture (JV) partner, Chevron Nigeria Ltd (CNL), have concluded the conversion of five of its...
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Free market forces determine PMS prices —NNPC Ltd.
According to the Nigerian National Petroleum Company Limited (NNPC Ltd), one of the main factors affecting the volatility of Premium Motor Spirit (PMS) prices—which are set by the Petroleum Industry Act (PIA) and are subject to unfettered free market forces—has been the lack of liquidity in foreign exchange (forex). The Executive Vice President of Downstream,...
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Housing Minister Orders Immediate Investigation Into Collapse of Kano BuildingÂ
Arc. Ahmed Musa Dangiwa, Minister of Housing and Urban Development, has expressed regret over the recent building collapse in Kano’s Noman’s Land Quarters and has directed a thorough investigation into the underlying cause of the regrettable event. Remember how a two-story building at Noman’s Land Quarters in Kano State’s Fagge Local Government Area was said...
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NIGERIA, CHINA FORGEUNBREAKABLE BONDS: $3.3 BILLION AGREEMENT SIGNED AT HISTORIC TRADE CONFERENCE
In a landmark event chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun that heralds a new era of economic cooperation, Nigeria and China have reaffirmed their commitment to deepening economic cooperation, strengthening bilateral ties and fostering sustainable development. The inaugural China-Nigeria Economic Cooperation and Trade Conference, held...
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SMEDAN Urges Entrepreneurs to Prioritize Planning, Resilience Amid Economic Hardship
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has called on Nigerians planning to establish small and medium-scale enterprises (SMSEs) to ensure thorough planning for their businesses to thrive. Speaking at a seminar organized by the Kwara State Correspondents’ Chapel of the Nigeria Union of Journalists (NUJ) as part of its 2024 Annual...
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. NEWLY OUT DISTRESS SALE. 100 Hectares Land For Outright Purchase.
Location: Guzape 2. Size: 100 Hectares. Title: FCDA RofO. Purpose: Mixed Use ( Comprehensive Development). Price: N40 Billion Net (not negotiable). FACILITATORS FEE: 5% each to be paid from both buyer n seller to their respective agent’s. Pls bring serious n ready buyers only. I know it on ground, it’s 100% deliverable. Procedures 352 Views
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Warri/Kaduna Refinery: NNPC Ltd Targets Sustained Production with New Maintenance & Compliance Measures
The Nigeria National Petroleum Company Limited, NNPC Ltd, is set to ensure sustained production and enhance refining quality at its Warri and Kaduna plants. The global energy player will also be adopting new maintenance and compliance measures, as well as deploying cutting-edge technology solutions. These, according to the Chief Corporate Communications Officer, CCCO, of NNPC...
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Reps Back Dangote’s Industrialization Stride
Dangote Group’s industrialization stride in Nigeria has received yet another momentum as federal lawmakers back the company’s stride. Members of the House of Representatives who visited Dangote Cement Plc in Obajana, Kogi State, expressed their delight at the significant economic impact the company has made in Nigeria’s cement subsector. Speaking during the visit, Hon. Gaza...