Government has ordered fuel dealers to stick to prices announced by the Zimbabwe Energy Regulatory Authority (ZERA) a week ago amid reports Tuesday the price of the scarce commodity was going up again. On Tuesday, fuel turned more scarce in…
Month: May 2019
Subsidy payments gulps N11trn in 6 years – Senate
The Federal Government has spent over N11 trillion as payment for outstanding fuel subsidy claims in the last six years, the Senate has claimed. The revelation is coming as the Red Chamber approved the payment of N129 billion as subsidy arrears…
FG wants South Africa to invest in its gas sector
The Federal Government on Thursday advised South African Government to invest in the Nigeria’s gas sector, which it said is currently worth $50 billion (N18 trillion) with a lot of opportunities. Giving the advice at the Nigeria-South Africa Chamber of…
Savannah Petroleum provides fresh Seven Energy transaction and corporate update
Savannah Petroleum, the British independent oil & gas company focused around activities in Niger and Nigeria, has provided a corporate and operational update as well as an update on the Seven Energy Transaction. Seven Energy Transaction Update Savannah has announced that…
Nigeria making moves to reduce fuel sulphur cap
There are strong indications that Nigeria is moving in the direction to cut the level of sulphur allowed in imported fuels this year. The cap is reportedly still 10 times above what health campaigners urge. In oil-for-product exchange contracts, the…
Nigeria Economy To Meet Growth Target Of 2.47per Cent
The Nigeria’s economy is expected to meet the targeted of 2.47 per cent growth by the Central Bank of Nigeria (CBN) as analysts expect the economy to gather momentum in the second half of the year. With growth in the…