SECTOR INSIGHT

We Never Received Subsidy Payment From Govt, Oando, Others Say

Many operators in the oil and gas sector yesterday told the House of Representatives Committee investigating money paid on subsidy by the Federal Government that they have not received any subsidy payment from the government since 2015. The companies said the transactions…

28/07/2022 0Comments

Nigeria Can Save $15bn Annually Via CAC Beneficial Ownership Register — OGP

The global chief executive officer of Open Government Partnership (OGP) Sanjay Pradian has said Nigeria can save over $15 billion annually in illicit financial flows if it eliminates anonymous ownership of companies through the implementation of the “Beneficial Ownership Register” by the…

28/07/2022 0Comments

Nigeria Air Set Take Off As Federal Govt Approves Lease Of 3 Aircraft

The federal executive council has approved the leasing of three aircraft by the country’s national carrier, known as ‘Nigeria Air’ to enable it to commence operations. Hadi Sirika, minister of aviation, said this on Wednesday while briefing journalists after the federal executive…

28/07/2022 0Comments

No Immediate Solutions To Troubled Aviation Sector — Minister of Aviation, Sirika

Minister of Aviation, Mr Hadi Sirika, has sought Nigerians understanding over the litany of challenges plaguing the sector, saying they were more of a global crisis than local. The Minister stated this in Abuja on Tuesday, at an emergency meeting with the Airline…

27/07/2022 0Comments

IMF Retains Nigeria’s Growth Prospect At 3.4%

The International Monetary Fund (IMF) has retained projected economic growth of 3.4 per cent for Nigeria in 2022. The Washington-based institution disclosed this on Tuesday in its World Economic Outlook (WEO) for July 2022 entitled, “Gloomy and More Uncertain”. At its last economic…

27/07/2022 0Comments

NNPC Ltd: We’re NOT Planning To Sack Or Cut Staff Salaries

THE Nigerian National Petroleum Company Limited (NNPC Ltd) has debunked media reports that it has commenced retrenchment of its workers after transitioning to a commercially driven entity. The Group General Manager, Group Public Affairs Department of the NNPC Ltd., Garba Deen Muhammad, said…

26/07/2022 0Comments

NPA Insists It Does Not Operate Secret Accounts

The Nigerian Ports Authority (NPA) has debunked an online report that it operates two secret accounts outside Nigeria, which have been allegedly looted. According to a statement by General Manager Corporate and Strategic Communications, Nasiru Ibrahim, contrary to what it called “sponsored…

26/07/2022 0Comments

Interstate Transporters Begin 25 Percent Fare Increase Aug 25

Interstate travellers in Nigeria will pay more from August 25 following the decision of transporters to increase fares by 25 percent over rising costs of operation. This was the resolution after a meeting of the operators and board of All Private Transport…

26/07/2022 0Comments

TotalEnergies Commences 50,000bpd Ikike Field Production

French oil and energy company TotalEnergies has begun production from the Ikike field in Nigeria, which is expected to deliver peak production of 50,000 barrels of oil equivalent per day by the end of 2022, it said on Monday. The field production…

26/07/2022 0Comments

NNPC Offers Exit Package To Staff Willing To Leave Before Retirement Date

The Nigerian National Petroleum Company Limited (NNPCL) has offered workers willing to exit the firm before their due retirement a “tempting” package to facilitate their leaving the company, THISDAY learnt yesterday. It was gathered that as many as 500 employees may be affected…

26/07/2022 0Comments

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