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The Nigerian National Petroleum Company Limited (NNPCL) has stated that the oil firm's 2023 profit soared to N3.3 trillion, while its revenue totaled N24 trillion. The Chairman of the NNPC Ltd Board, Chief Pius Akinyelure, disclosed this during a media briefing on Monday on the Audited Financial Sta

Nigerias Minister of Power, Adebayo Adelabu, has disclosed that he has received threatening calls from unknown individuals opposing progress in the power sector, adding that a cartel threatened by reforms in the sector may be behind the blowing up of power transmission substations in the country. Sp

The Petroleum Products Retail Outlets Owners Association (PETROAN) has attributed the ongoing scarcity of Premium Motor Spirit (PMS), also known as petrol, to lingering logistics challenges. PETROAN President, Billy Gillis-Harry, in an interview on Channels Television on Monday, said that oil market

Three multinationals have been granted permits to generate electricity by the Nigerian Electricity Regulatory Commission (NERC). The three multinationals include Golden Penny Power Limited, MTN Communications Nigeria Limited, Havenhill Synergy, and others for mini-grid electricity generation. NERC a

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has refuted claims that it owes international oil traders $6.8 billion. The NNPC's statement follows a recent report alleging that the oil giant was in debt to foreign oil traders and had failed to remit revenue to the Federation Account si

The average cost of diesel in Nigeria surged by 73.63% year-on-year, reaching N1,379.48 per litre in July 2024, according to the National Bureau of Statistics (NBS). NBS, in a statement on Sunday, said this represents an increase from N794.48 recorded in the same period last year. "The average retai

An expert on power, Mr Princewill Okorie has tasked stakeholders in the power sector on measures to ensure safety of electrical materials and infrastructure. Okorie made the call in Abuja on Sunday in an interview with the News Agency of Nigeria (NAN). Okorie, who is also the National President, Ass

The Ministry of Solid Minerals Development, on Thursday, hinted at an impending forensic audit of the mining sector as part of efforts to sanitize the industry and boost investor confidence. Minister of Solid Minerals Development, Dr. Dele Alake, disclosed this in Abuja, during its meeting with the

President Bola Tinubu and President Teodoro Mbasogo of Equatorial Guinea have signed an agreement on Gulf of Guinea Pipeline Project to further affirm the partnership between the two countries for mutual development. Chief Ajuri Ngelale, the Special Adviser to President Tinubu on Media and publicity