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Nigeria revives plan to double oil output, triple refining

Paul Wallace and Elisha Bala-Gbogbo Country to pump 4 million barrels a day by 2025, NNPC saysSimilar targets have previously proved to be too ambitious Nigeria plans to almost double oil production and triple its refining capacity within six years, reviving previous pledges that turned out to be too ambitious. The OPEC member

Seplat eyes N252bn Imo gas fields development

•As Kachikwu, Saudi Aramco discuss investment options Jude Johson and Libby George Nigerian oil company Seplat said on Wednesday it had taken a final investment decision to develop gas fields in the country’s Imo state and would raise $700 million (N252 billion) for the venture in partnership with state-owned NNPC. This is coming

NNPC Confident of meeting 2019 oil production target – Baru

Senator Iroegbu The Nigerian National Petroleum Corporation (NNPC) has expressed confidence that it would meet the target of 2.3 million barrels of oil per day (MBOPD) benchmark used in the 2019 Midterm Expenditure Framework (MTEF). This was according to the Group managing Director (GMD) of NNPC, Mr. Maikanti Baru, who stated this while appearing before the

TFP: Whistleblower and Eraskorp’s potential double jeopardy

By Johnson Momodu The rumbling over the Trans Forcados Pipeline (TFP) surveillance contract is yet to settle despite the fact that the Nigerian National Petroleum Corporation (NNPC) and the Ocean Marine Solutions (OMS) Limited had entered a new contract for the security of the critical national asset. The former contractor, Eraskorp Nigeria

TFP: NNPC and triumph of national interest

  By Sufuyan Ojeifo The Nigerian National Petroleum Corporation (NNPC) announced its recent award of the 87-kilometre Trans Forcados Pipeline (TFP) surveillance contract to Ocean Marine Solutions (OMS) Limited, in a celebratory fashion, with good reason. The Corporation’s Group General Manager, Group Public Affairs, Mr. Ndu Nghamadu, adduced reasons, in a

Defence, security dominates Nigeria’s 2019 Budget with N1.03trn allocation 

•Subsidy to gulp N305bn Jude Johnson Nigeria's President Muhammadu Buhari has on Wednesday, presented to the federal legislators a 2019 budget of N8.83 trillion with allocations to the Defence and Security sector taking larger chunk of the estimated expenditure.  The 2019  budget estimate is N300 billion lower than the N9.1 billion being implemented

NNPC sacks 80 senior managers for failing promotion exam

The Nigerian National Petroleum Corporation (NNPC) has sacked over 80 manager-level employees, . The corporation started issuing letters to the affected workers on Friday. At the Kaduna Refining & Petrochemical Company (KRPC), over 20 workers were affected. Spokesman for the corporation Mr. Ndu Ughamadu told Daily Trust that the affected personnel were asked

How Presidency illegally moved N14bn to establish Army Barracks-Report

•DPR, FIRS overpaid N837.082bn 324 MDAs fail to submit their accounts for audit Ndubuisi Francis  The audited report of the federal government for the 2016 financial statement from the Office of the Auditor-General for the Federation (OAuGF), Mr. Anthony Mkpe Ayine, has revealed that the presidency illegally withdrew N14 billion from the

No life lost in Niger state pipeline explosion-NSCDC

•Three persons injured, suspects arrested •Cause of explosion still uncertain Jude Johnson The Nigerian Security and Civil Defence Corps (NSCDC), has confirmed that no life was lost in the twin fuel pipeline explosion that rocked Niger State on Sunday, July 8, 2018. The Public Relations Officer (PRO) of NSCDC, Niger State Command, Ibrahim