Daily Archives: May 21, 2018

NNPC Loses N546 Bn to Failure of Reforms in Three Years

   Failure by the President Muhammadu Buhari-led administration to reform the oil and gas sector has pushed the Nigerian National Petroleum Corporation (NNPC)’s revenue loss to over N546 billion. The trend does not only represent the loss of potential revenue for government but also constitutes a major challenge for the 2018 budget expectations and implementation. […]

FG Stops Seplat’s Project over Alleged Violation of Nigerian Content Law

  The federal government through the Nigerian Content Development and Monitoring Board (NCDMB) has directed Seplat Petroleum Development Company Plc to suspend work on its ANOH Gas Plant project in Oil Mining Lease (OML) 53 over alleged violation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010 by using a UAE […]