The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said that the federal government will remove fuel subsidy and replace it with a monthly N5000 transport grant to poor Nigerians. Speaking at the launch...
President Muhammadu Buhari yesterday urged operators in the petroleum industry to take advantage of the new Petroleum Industry Act (PIA) to promote their investments in the oil and gas sector. He spoke at a meeting with...
The Corporate Affairs Commission (CAC) said it has completed the incorporation of the Nigerian National Petroleum Company (NNPC) Limited in line with the new Petroleum Industry Act (PIA). The Registrar-General of CAC, Garba Abubakar, announced this...
President Muhammadu Buhari has approved the appointment of the Nigeria Extractive Industries Transparency Initiative (NEITI) into the Petroleum Industry Act (PIA) Implementation Steering Committee. The president’s approval was conveyed to the Minister of State, Petroleum Resources,...
Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said that the proposed successor company of the present entity, NNPC Limited, may not be ready for an Initial Public Offer (IPO)...
The Group Managing Director, NNPC, Mele Kyari has said that there is provision in the Petroleum Industry Act that gives room for individuals to acquire stakes in the new Nigerian National Petroleum Company Limited. Kyari, who...
Vice President Yemi Osinbajo has said that the passage of the Petroleum Industry Bill, as well as Nigeria’s gas initiatives, will help transform Nigeria into a gas-based industrialized nation and also create a better-managed petroleum...
The Petroleum Products Pricing Regulatory Agency (PPPRA) says the implementation of Petroleum Industry Act (PIA) does not mean automatic increase in the pump price of petrol in the country. The Executive Secretary of the Agency, Abdulkadir...
By Femi Adesina The country has been agog this week with fallout from the signing of the long-awaited Petroleum Industry Bill (PIB) into law. That legislation has now become Petroleum Industry Act (PIA). President Muhammadu Buhari has...
At a ceremony on passage of the PIA, which preceded the Federal Executive Council (FEC) meeting, the president announced a steering committee to oversee the process of implementation of the newly signed Petroleum Industry Act...