FG reveals N1.45trn saved from subsidy removal
The Federal Government of Nigeria has saved approximately N1.45 trillion between June and September from the removal of petrol subsidy, according to FAAC allocation records obtained from the National Bureau of Statistics and Nigeria’s Governors Forum websites. Monthly contributions to the Non-Oil Revenue (Savings) account totalled N696.93 billion in June, N389.7 billion in July, N71 […]
Petrol Ex-depot price rises 7.6% to N608 per litre
THE Ex-depot price of petrol, yesterday, rose by 7.6 per cent to N608 per litre from N565 per litre in Lagos and environs. A visit to private depots in Lagos showed that independent marketers, who lift at N608 per litre, ended up selling it at between N630 and N640 per litre at their stations, depending […]
NNPCL unveils new crude grade, ships 1.9m/b in October
The Nigerian National Petroleum Company Limited on Tuesday said it had launched a new crude oil grade ‘Nembe’, and had shipped its first cargo in October consisting of two 950,000 barrels. A report by Reuters quoting the executive director of crude and condensate at NNPC Trading, Maryamu Idris, on the sidelines of the Argus European […]