Premium Motor Spirit (PMS) popularly called petrol. Photo: TOTALThe Coalition of Nigerian Civil Society Organisations for Petroleum and Energy Security (CONCSOPES) has called on organised labour to support the government’s efforts to deregulate the downstream oil and gas sector.
CONCSOPES Convener, Mr Timothy Ademola, who made the appeal at a news conference in Abuja on Saturday, said deregulation would promote growth and development in the sector. x
“ It will do our nation much good if our respected labour leaders spearheading the resistance to deregulation would recognise that deregulation has largely stabilised petroleum products supply over this past year.
“ Once the foreign exchange issue that has made it difficult for major and independent marketers to engage in the importation of petroleum products is resolved, the other gains of deregulation will kick in and Nigerians will be better for it.
Vanguard News
Oil export revenue declines 41%
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By Obas Esiedesa
REVENUE from oil export fell by a whopping 41.44 percent to $2.033 billion in the first nine months of 2020, compared to $3.47 billion received in the corresponding period of 2019, data from the Nigerian National Petroleum Corporation, NNPC, has revealed.
NNPC had, in its September 2020 edition of the Monthly Financial and Operations Report (MFOR) disclosed that revenue from oil and gas export for the month of September, 2020, rose by 16 percent to $120.49 million.
But a closer look at previous months’ data contrasted with corresponding months’ figures in 2019 which shows a huge cumulative decline in revenue from oil export.
By Obas Esiedesa
ABUJA-THE Petroleum Industry Bill (PIB) if passed into law will bring back investments into the sector in Nigeria and also address the issue of host communities’ rights in the country, stakeholders have said.
The Nigerian Senate yesterday began the process of passing the bill when it opened a 2-day public hearing. The House of Representatives has also scheduled a public hearing on the bill during the week.
The PIB which has been in the making for over 18 years is expected replace the Petroleum Act enacted in the 1969.
Speaking in a telephone interview, the Executive Director, Women in Extractives, Faith Nwadishi urged the National Assembly to pay special attention to the sections on host community rights and contract transparency.
Vanguard News
Deregulation: Nigerians overpaying for petrol Expert
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By Omeiza Ajayi – Abuja
At a pump price of ₦167 per litre, Nigerians are currently overpaying for fuel, an industry expert, Alhaji Rabiu Bello has revealed.
Bello, a former Chief Operating Officer/Group Executive Director, Upstream Business Unit at the Nigeria National Petroleum Corporation NNPC disclosed this at the weekend during a roundtable on ‘Deregulation of Nigeria’s Downstream Oil Sector’ in Abuja.
At the event which had other industry experts like Dr Adeoye Adefulu, Henry Adigun, and others, Bello pegged the exact pump price of fuel at N146.75, saying for the month of November alone, Nigerians subsidised the NNPC to the tune of about ₦700 million daily.
TODAY
AHA Taxis
At a pump price of ₦167 per litre, Nigerians are currently overpaying for fuel, an industry expert, Alhaji Rabiu Bello, has revealed.
Bello, a former Chief Operating Officer/Group Executive Director, Upstream Business Unit at the Nigeria National Petroleum Corporation (NNPC) disclosed this at the weekend during a roundtable on ‘Deregulation of Nigeria’s Downstream Oil Sector’ in Abuja.
At the event which had other industry experts like Dr Adeoye Adefulu, Henry Adigun, and others, Bello pegged the exact pump price of fuel at N146.75, saying for the month of November alone, Nigerians subsidised the NNPC to the tune of about ₦700 million daily.