The Senate yesterday resolved to debate the report of the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) presented to it at plenary.   This is just as the Petroleum Industry Bill (PIB) sent to the National Assembly last Tuesday by President Muhammadu Buhari passed through first readingRead More

Asides a proposal for NNPC, PPPRA, PEF scrapping, new PIB gives more power to oil, finance ministers, cuts down powers for DPR, others     President Muhammadu Buhari has transmitted the much-awaited Petroleum Industry Bill (PIB) 2020 to the National Assembly and has proposed the creation of the Nigerian NationalRead More

Minister of State for Petroleum, Timipre Sylva has demised media reports that the new draft Petroleum Industry Bill (PIB) sent to National Assembly has recommended scrapping of the NNPC. The minister allayed the fears while fielding questions from journalists at the National Assembly after an interactive session with the leadershipRead More

  …As Reps Assures of Speedy Passage of PIB   The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, has said that the absence of a stable fiscal environment is inhibiting the growth of the Nigerian petroleum industry, especially the upstream sector.   Mallam Kyari,Read More

    A consortium of Civil Society Organizations (CSOs) has asked the federal government to entrench the deregulation drive of the downstream sector of the petroleum industry by enacting an appropriate legislation or embedding it as part of the Petroleum Industry Bill (PIB) expected to be submitted to the NationalRead More

  Olatunde Dodondawa The Federal Government of Nigeria has secretly gazetted subsidy removal on premium motor spirit (PMS) otherwise called petrol without the involvement of key industry stakeholders. According to an investigation by Borderless News, a leading online newspaper, on March 20, 2020, with the approval of President Muhammadu Buhari, GCON,Read More

*Lists four legal instruments, bobby traps that must be repealed OpeOluwani Akintayo Lagos — Nigerian leading Energy Policy Analyst and immediate past Chairman, Society of Petroleum Engineers, SPE, Nigeria Council, Engineer Joe Nwakwue has picked holes in ministerial pronouncement on petrol subsidy removal, declaring that there are four legal instruments thatRead More

The Federal Government said it will not reverse the new approach of selling petroleum according to prevailing global market as it does not bhave the financial capacity to subsidize the cost of premium motor spirit (PMS) otherwise known as petrol. Minister of State for Petroleum Resources, Chief Timipre Sylva, disclosedRead More