Tag: Farouk Ahmed

Oil, Gas, Power Ministers To Speak At NOG Energy Week

ADEOLA YUSUF

“7,000 participants, 800 delegates, 350 exhibition companies and 116 industry expert speakers,” Organisers speak on 2024 edition of the confab, which has been connecting the Nigerian energy industry with the int’l energy community for 25 years   The 2024 edition of the NOG Energy Week, which will spotlight energy industry’s opportunities to drive investment needed to meet energy demand, has confirmed the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri and his Gas counterpart, Ekperikpe Ekpo, as speakers. Platforms Africa reports that the event, which has been headlining the…

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Nigeria Hikes Gas Price, Electricity Tariff Increase Imminent

Abibat Babalola

The Federal Government, on Monday, announced that the new price of natural gas for power generation companies is now $2.42 per metric million British thermal unit, higher than the previous rate of $2.18mmbtu. Nigeria generates over 70 per cent of its electricity from thermal power plants that are fired by gas. Therefore, the rise in the cost of the commodity may lead to a hike in the tariff payable by power consumers once the Nigerian Electricity Regulatory Commission carries out another tariff review. The Nigerian Midstream and Downstream Petroleum Regulatory…

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N74bn Bridging: You Lied, Marketers Confront NMDPRA, Threaten Scarcity

Ganiyu Amodu

IPMAN Mohammed Shuaibu challenged the NMDPRA Chief Executive, Farouk Ahmed, to reveal names of the marketers the government paid the N74 billion to as well as show documents to prove that.   Oil marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have threatened that Nigeria could witness the mother of all fuel queues from next week if the Federal Government does not pay the 12 months bridging claims being owed operators in the downstream oil sector. IPMAN which claimed it controls about 70% of the…

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Why Nigeria Cannot Introduce Subsidy On Diesel – NNPC

Abibat Babalola

It is regrettable that Nigeria’s petroleum refineries are not working and the possibility of introducing subsidies on Automotive Gas Oil, also known as diesel, is unlikely, the Federal Government has said. The Chief Executive Officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, who made this known in Abuja on Tuesday stated that the government cannot afford the payment of subsidies on diesel. He made the comments while appearing before the House of Representatives Committee on Downstream, alongside the CEO of Nigerian Midstream and Downstream Petroleum Regulatory…

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Petrol Sells for N250 per litre As Scarcity bites Harder

ADEOLA YUSUF

. Succor Underway as 300 million litre petrol-laden Vessels commence product’s discharging in Lagos . Black marketers record business booms while filling stations ‘run out of fuel”   Two vessels laden with 300 million litres of Premium Motor Spirit (PMS), known as petrol, which arrived at Lagos ports, have started to discharge the product, Platforms Africa reports, just as hardship caused by off-spec product supply bite harder. The vessels, Platforms Africa gathered, arrived on Tuesday at ASPM jetty Ijora and Wednesday at Pinnacle jetty, Apapa, area of Lagos, Nigeria’s commercial capital.…

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EXCLUSIVE: Real Reasons Buhari Removed Sarki Auwalu as NMDPRA CEO Nominee

ADEOLA YUSUF

Here is how Sarki Auwalu’s name emerged, submerged, and reasons President Buhari made a U-Turn, removed him for Farouk Ahmed as Mid/Downstream Regulator CEO Nominee + Role Aso Rock popular lobbyist played   Facts have emerged on reasons Nigerian President Muhammadu Buhari, made a U-turn and removed Sarki Auwalu as the Chief Executive Officer for the Board of the Nigerian Midstream/Downstream Petroleum Regulatory Authority, even before his confirmation by the Senate. The President has, as a replacement for Auwalu, appointed the former Executive Secretary, Petroleum Products Pricing Regulatory Agency (PPPRA),…

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