The Federal Government on Friday issued a ‘Licence to Construct’ to UTM Offshore Limited for the development of a 2.8 million tonnes per annum Floating Liquefied Natural Gas facility. This historic project, the first of its kind in Nigeria, aligns with the government’s ongoing efforts to boost gas production, distribution, and utilisation under the Decade…
GISTSMATE MEDIA reports that the Presidency has assured Nigerians that the current fuel scarcity in the country will soon come to an end. Minister of State for Petroleum Resources, Heineken Lokpobiri, disclosed that the situation will normalize by the weekend. Lokpobiri, who spoke on behalf of President Bola Tinubu, expressed deep concern over the hardship…
The Nigerian government on Tuesday, September 3, announced its plan to increase Value Added Tax (VAT) from 7.5% to 10%. Taiwo Oyedele the Chairman Presidential Fiscal Policy and Tax Reforms Committee gave a hint on this while speaking during an interview on Channels TV’s Politics. According to Oyedele, the committee is proposing a law to…
Owner of Lagos-based refinery Aliko Dangote, on Tuesday, said the Federal Executive Council (FEC) will determine the pricing of petrol produced at his 650,000 barrels per day facility. The refinery owner said as soon as his company finalises modalities with the Nigerian National Petroleum Company Limited (NNPCL), the product will hit the market. “Our PMS…
GISTSMATE MEDIA reports that Aliko Dangote, the Chairman of Dangote group, has officially confirmed rollout Premium Motor Spirit (PMS), also known as petrol from its refinery. Dangote, while addressing the press on Tuesday, described the development as a turnaround for the country after many years of not producing a single litre of petrol. The group…
The Nigerian National Petroleum Company (NNPC) Limited has announced plans to partner with private firms for the management and maintenance of its refineries in Kaduna and Warri. This initiative aims to strengthen the nation’s petrol supply and enhance energy security. The announcement was made through a circular on NNPC’s official X account on Thursday. The…
The Chairman of BUA Cement, Alh. Abdul Samad Rabiu, yesterday recounted how cement dealers frustrated his company’s N3, 500/bag policy, last year. He spoke at the 8th Annual General Meeting of the company in Abuja. Neighbor recounts how woman abused 12 years old niece, burnt her with hot knife and forced…..0.00 / 0.00 He said…
Recent documents have revealed that Sayyu Dantata, the half-brother of billionaire Aliko Dangote, is among the marketers importing fuel into Nigeria from Malta. Dantata, who owns MRS Oil & Gas Co. Limited, has been implicated in the ongoing controversy surrounding fuel imports from the European country. The revelations come after similar findings about Matrix Energy…
The Nigerian government has announced the issuance of a $500 million five-year domestic dollar bond, opening for subscription on August 19, 2024. The bond offers a competitive interest rate of 9.75%, aimed at attracting both local and international investors. The bond issuance is part of the government’s ongoing efforts to diversify its funding sources and…
The Federal Government has disclosed that sales of crude oil to Dangote Refinery and other local refineries will commence October 1, 2024. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the announcement during a meeting with the Implementation Committee on Monday in Abuja. According to a post on the official…