Nasarawa State Governor, Engr. Abdullahi Sule has disagreed with the argument that the proposed N8,000 palliative by the Federal Government would not do much to cushion the effects of the removal of fuel subsidy on poor Nigerians. The governor, who was a guest on Channels Television’s Politics Today on Friday, insisted that N8,000 is a lot of money for so …

Following the removal of the petrol subsidy and the recent hike in petrol prices to up to N617/litre, the National Executive Council (NEC) has agreed on palliative measures for Nigerians. The decision was reached on Thursday at a meeting held at the Council Chambers of the State House in Abuja. The meeting, which was chaired by Vice President Kashim Shettima, …

The House of Representatives, yesterday, at plenary, urged security agencies to desist from setting ablaze vessels laden with stolen crude oil. It also resolved to empanel an ad hoc committee to investigate the whereabouts of the 150,000 metric tonnes of stolen crude oil in the recently burnt vessel, MT TURA in Escravos River, Warri, Delta State. The resolution of the …

Price Waterhouse Coopers (PwC) has argued that in-country crude oil refining may not significantly reduce petrol prices because the costs of haulage, insurance and associated cost of importation do not constitute the most significant component of cost across the value chain. In a report, the global organisation, which offers professional business services, including accounting, auditing, human resources consulting, and strategy …

The price of Petrol has increased to about N617 per litre. A visit by Daily Trust to an NNPC filling station in the Central area of Abuja confirmed that the fuel price has now been adjusted from N539 to N617 per litre. Another customer, who confirmed this development, simply said: “It is true, I just bought at N617 per litre”, …

The Nigerian Navy has excavated and dismantled the oil equipment of a suspected oil syndicate on Oil Mining Lease-18 in Elem Krakama Creek in Degema Local Government Area of Rivers State. The Navy said it dismantled the equipment used in siphoning crude precisely on Oil Well 17 operated by the Nigerian National Petroleum Company Limited. The Commander, Nigerian Navy Ship …

The Health of Mother Earth Foundation (HOMEF) has condemned the recent burning of a vessel nabbed with stolen crude oil in the Niger Delta. In a statement in Benin on Saturday, HOMEF’s Executive Director, Mr. Nnimmo Bassey said that the manner the vessel was destroyed was wrong and harmful to the environment and human lives. He noted that the burning …

The Olu of Warri, Ogiame Atuwatse III has deplored the rising poverty of the people of the Niger Delta where the oil wealth of the nation comes from. The Olu lamented that the people of the Niger Delta have been despite having one of the largest oil and gas deposits in the country. According to him, too many communities under …

The Senate has set in motion moves to probe oil subsidy under the recovery regime operated by the federal government till 29 May 2023, when the subsidy was eventually removed. It also took a swipe at the N9.3 trillion expended on the subsidy regime by the Federal Government from January 2021 to June 2023, just as it sought living wage …

The 800,000-litre vessel intercepted on the coastline of Ondo State was Cameroun-bound, according to NNPC Limited (NNPCL). Tantita Security Services Nigeria Limited, owned by former militant leader Government Ekpemepulo (well known as Tompolo) intercepted the massive vessel carrying barrels of stolen crude oil in Escravos area of Delta State. The effort was said to have been in collaboration with security …