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January 11, 2024 Nigeria Government Committee Meets Over Crude Oil Theft, Develops Action Plan To Block Leakages

Nigeria Government Committee Meets Over Crude Oil Theft, Develops Action Plan To Block Leakages

The National Executive Council (NEC) has promised to work to improve Nigeria’s oil production profile.

The NEC Committee on Crude Oil Theft and Management made this known at its inaugural meeting in Abuja.

The committee also developed an action plan that would be used to confront crude oil theft head-on and identify the areas of leakage.

Speaking with journalists after the meeting, the chairman of the committee and Governor of Imo State, Hope Uzodinma, said the committee was up to task on crude oil theft.

Other governors present at the meeting include Sheriff Oborevwori (Delta), Lucky Aiyetadiwa (Ondo), Bassey Otu (Cross River), Mai Bala Buni (Yobe), and Deputy Governor of Bayelsa State, Lawrence Ewhrudjakpo.

May 31, 2023 Confusion As Price of Petrol Is Estimated at More Than N500 Per Litre

Confusion As Price of Petrol Is Estimated at More Than N500 Per Litre

THE DOWNSTREAM sector of Nigeria’s petroleum business has been thrown into disarray when a document said that the retail price of gasoline is more than N500 per litre.

According to the paper, the price of petrol in Abuja, Lagos, and Kano is N537, N488 and N540 per litre, respectively.

Mr. Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, whose agency monitors sector activities, did not reply when they were contacted many times for confirmation.

However, an anonymous oil marketer dismissed it as a hoax, saying, “How can any credible business base its pricing on an obviously fake random list circulating on social media?”

 

 

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