Tag Archives: OIL

•As Tinubu directs NSA on Niger Delta peace, development•Confers National Honours on murdered ‘Ogoni Four’ 31 years after The Federal Government took steps closer to the restart of oil exploration in Ogoniland on Wednesday, following the receipt of the report of the Ogoni Dialogue Committee by President Bola Tinubu at the Presidential Villa, Aso Rock, Abuja. The president, at the …

The Nigerian National Petroleum Company Limited has received N318.05bn between January and August 2025 for frontier oil exploration, findings by The PUNCH have shown. This is according to documents from the September 2025 Federation Account Allocation Committee meeting obtained by The PUNCH. The deductions represent 30 per cent of Production Sharing Contract profits, which are automatically set aside each month …

Oil marketers in Nigeria have rejected billionaire businessman Femi Otedola’s call to sell off their investments in the nation’s oil sector. The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, described Otedola’s statement as insensitive and not properly thought out. Gillis-Harry, while speaking on Tuesday, emphasised that Otedola’s advice lacks understanding of the …