One month after the federal government promised to crash the cost of Liquefied Petroleum Gas (LPG), also known as cooking gas, households and businesses are still paying high prices for every kilogram of the commodity. This is because the price has remained on the high side, as investigation revealed that not much has been achieved […]
•Port Harcourt Refinery The Nigerian National Petroleum Corporation Limited has revealed that test runs at the 60,000-bpd Port Harcourt refinery will be completed this month. “Testing will conclude shortly, ensuring the refinery’s efficient operation. That phase will be completed this month,” Reuters quoted NNPC spokesperson, Femi Soneye, as s...
A member of the House of Representatives representing Ideato North South Federal Constituency, Hon. Ikenga Ugochinyere Ikeagwuonu, has expressed concerns over the raid of headquarters of the Dangote Group by operatives of Economic and Financial Crimes Commission (EFCC). EFCC yesterday raided the headquarters of the Dangote Group in connection ...
•Wabara A former Senate President and Chairman, Board of Trustees, BoT, of the Peoples Democratic Party, PDP, Dr Adolphus Wabara, has faulted President Bola Tinubu’s recent directive for the abolition of Treasury Single Account, TSA, and introduction of Sub-Recurrent Account, SRA. It will be recalled that the Ministry of Finance had on Decembe...
The naira yesterday depreciated to N1,240 per dollar in the parallel market from N1,235 per dollar on Wednesday. However, the naira appreciated to N895.23 per dollar in the Nigerian Foreign Exchange Market (NAFEM), thus widening the gap between the official and parallel market exchange rates to N344.77 per dollar yesterday from N199.88 per dol...
Nigeria spent N2.7 trillion to import premium motor spirit (PMS), diesel and jet fuel in the third quarter of 2023, data by the National Bureau of Statistics (NBS) has shown. Coming amidst the inability to overhaul the country’s refineries, white products have remained the largest import of the country, reports The Guardian. The total import [...
The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Nigeria National Petroleum Company Limited (NNPCL) have warned Nigerians against panic-buying and dismissing reports of a planned hike in the pump price of petrol also called Premium Motor Spirit (PMS). According to reports, fuel marketers clashed with the Nigerian Nati...
•Maritime Worker The Maritime Workers Union of Nigeria (MWUN) has threatened to shut down the nation’s seaports, jetties and oil and gas platforms from next week Tuesday, given the continued refusal of the International Oil Companies (IOCs) and stevedoring contractors to comply with the nation’s extant laws. The union in a statement by the Hea...
•CBN Governor Yemi Cardoso Cash withdrawals will not be possible from accounts opened for virtual and digital assets transactions, the Central of Nigeria has disclosed. Withdrawals from these accounts will only be possible by transfer or through a manager’s cheque, the apex bank explained. It revealed this in a new ‘Guidelines on Operations of...
The Nigerian National Petroleum Company Limited and fuel marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria, yesterday, clashed again over the removal of subsidy on petrol. This came against the backdrop of the depreciation of the naira against the United States dollar at both the official Investors & E...
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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