The Federal Government has stopped the export of locally produced Liquefied Petroleum Gas, also known as cooking gas, to prioritise domestic supply. The measure, announced by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, on Tuesday, is intended to mitigate the soaring price of gas and will take effect from November 1, 2024. […]
Oil marketers have said that the bulk of jet fuel consumed locally is now being supplied by the Dangote Refinery. According to a report by Energy Intelligence, jet fuel marketers say fuel from the 650,000 barrels per day Dangote refinery make up the bulk of jet fuel utilised locally, less than six months after it […]
The Federal Government’s plans to reduce the price of food commodities through implementation of a zero per cent duty and exemption from value-added tax on selected basic food items are increasingly becoming difficult to achieve. The challenge is underscored by alarming increase in the average price of imported food items, which rose to 878.3 price […]
FBN Holdings Plc has announced the appointment of Adebowale Oyedeji as group managing director (GMD). In a statement on Friday, FBN Holdings said the appointment of Oyedeji, managing director (MD) of Nova Commercial Bank is with effect from November 13. FBN Holdings said prior to his appointment, Oyedeji was the managing director (MD) and chief […]
The Nigerian National Petroleum Company Limited is still the sole off-taker of Premium Motor Spirit, popularly called petrol, from the Dangote Petroleum Refinery despite the recent directive of the Federal Government that other oil marketers were free to start loading PMS from the plant. Oil marketers revealed on Wednesday that NNPC would continue to be […]
The Nigerian National Petroleum Company Limited has agreed to sell Premium Motor Spirit (petrol) to members of the Independent Petroleum Marketers Association of Nigeria at N995 per litre. This followed the intervention of the Department of State Services in the controversy between the two parties. The National Vice President of IPMAN, Hammed Fashola, told our […]
Enugu State Government has clarified the controversial mortuary tax imposed on corpses in the state, stating that it was not intended as a revenue-generating measure but rather to discourage excessive storage of deceased bodies in mortuaries. The Executive Chairman of Enugu State Internal Revenue Service, Mr Emmanuel Nnamani, said this on Saturday while reacting to […]
Nigerian Electricity Regulatory Commission (NERC) says the federal government incurred an electricity subsidy obligation of N380 billion in the second quarter (Q2) of 2024. The NERC, in its quarterly report released on Friday, said the electricity subsidy bill dropped by N253.24 billion (40 percent) from N633.3 billion recorded in Q1. The drop, according to the […]
The federal government has proposed a new bill that will require individuals engaged in banking, insurance, stock-broking, or other financial services to provide a tax identification number (TIN) before they can create a new account or operate an already-existing one. The bill, which has been submitted to the national assembly, aims to foster tax compliance […]
The Independent Petroleum Marketers Association of Nigeria (IPMAN) National Public Relations Officer (PRO), Alhaji Okanlawon Sulaiman Olanrewaju has said that the current price which the NNPC is imposing on marketers is too high and may cause another round of fuel scarcity. Speaking with journalists in Ilorin on Friday, he stated that NNPCL wants to sell […]
