Day: March 26, 2021

Nigeria embargoes petrol price hike, freezes cost at N162/litre

Efe Wellington

  Petrol remains at N162.50 per litre until talks with labour are completed, NNPC says as it continues to bear subsidy burden  The Nigerian National Petroleum Corporation (NNPC) has said it would maintain its current ex-depot price of Premium Motor Spirit (petrol) until the conclusion of ongoing engagement with the organized labour and other stakeholders. Addressing newsmen in Abuja, the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, said the Corporation, at the moment, was bearing the burden of importing refined petroleum products as the supplier of last…

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Why Nigeria’s Fuel Crisis may persist – Energy Analyst Adeola Yusuf + VIDEO

Efe Wellington

  Energy Policy Analyst and award-winning journalist, Adeola Yusuf, has declared that the trust deficit in Nigeria petroleum products’ supply chain is one of the major factors responsible for fuel crisis that has persistently been rocking the country. Yusuf, a Laureate of several local and international awards on oil and gas reporting, said this while featuring as an analyst on the Breakfast Show, a flagship Programme on Television Continental (TVC) DStv Channel 418 and GOtv Channel 45. Nigeria, biggest crude oil exporter in sub-saharan Africa, depends largely on importation of…

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Nigeria mulls 2,000 CNG auto-filling stations’ establishment in 6 months

Efe Wellington

  Central Bank of Nigeria (CBN) has set up N200 billion infrastructure fund to support autogas facility roll-out by marketers.   The Nigerian Government is targeting the establishment of 2,000 Compressed Natural Gas (CNG) filling stations in the next six months. Group Managing Director, Rainoil Limited, Mr. Gabriel Ogbechie, who declared this during a webinar on ” Deregulation and Sustainable National Energy Future through Natural Gas,” maintained that the move was aimed at providing a cheaper and cleaner alternative for vehicle users as the country moves toward the full deregulation…

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