•Port Harcourt Refinery John Erinne, an energy consultant and former president of the Nigerian Society of Chemical Engineers, has expressed doubt over the Port Harcourt Refinery’s immediate return to regular operation after Christmas. The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, had yesterday announced the c...
The federal government has been advised by a civil society organisation, under the aegis of Social Integrity Network (SINET) to halt the attempt by the Federal Ministry of Steel Development and other relevant agencies to transfer the ailing Ajaokuta steel company to foreigners, all in the name of revitalisation. It said the move is against [&h...
The Central Bank of Nigeria (CBN) has threatened to sanction banks and Point of Sales (POS) operators found to be complicit in the current Naira scarcity crisis. The apex bank, in a statement yesterday, urged members of the public to report infractions, especially hoarding of Naira by Banks and POS operators, in their areas to […]
•Emefiele The former Central Bank of Nigeria Governor, Godwin Emefiele, illegally lodged billions of naira in no fewer than 593 bank accounts in the United States, United Kingdom, and China without the approval of the apex bank’s board of directors and the CBN Investment Committee. The Special Investigator on the CBN and Related Entities, Jim ...
Dangote Refinery has made a further move towards the commencement of production of refined petroleum products with the receipt of additional one million barrels of bonny light crude supplied by the Nigeria National Petroleum Corporation Limited (NNPCL). The fresh one million barrels of crude from the Shell terminal via the MT Otis owned by Tra...
The National Bureau of Statistics (NBS), says the average retail price of a litre of petrol increased from N202.48 in November 2022 to N648.93 in November 2023. NBS said this in its Petrol Price Watch for November 2023 released in Abuja yesterday. It stated that the November 2023 price of N648.93 represented a 220.49 per […]
•Market Marketers in Kuje Area Council of the Federal Capital Territory have blamed the removal of fuel subsidy as the cause of low patronage and high cost of food products. A visit to the main Kuje market, two marketers interviewed by our correspondent blamed the removal of fuel subsidy as the major cause of low […]
The Nigerian Railway Corporation (NRC) says the agency is yet to recover from previous transportation fare waivers by the government. The federal government had yesterday announced a 50 per cent waiver on road transport and a 100 per cent fare slash for rail transportation as part of moves to cushion the impact of the high […]
•Nigerian debt problem The Debt Management Office (DMO), yesterday revealed that Nigeria’s sovereign debt as at September 30, 2023 was N87.91 trillion or $14.35 billion. The figure represents the domestic and external debts of the federal government, the 36 states and the Federal Capital Territory. At N87.91 trillion, the total public debt sto...
•Crude oil Operators of the Oza oil field, Decklar Resources Inc., and its co-venturer, Millennium Oil and Gas Company Limited, said they have delivered 75,500 barrels of crude till date to two modular refineries in Edo State. The two refineries are the Edo Refinery and Petrochemical Company (ERPC) facility in Ologbo, Ikpoba Okha Local Governm...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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