Mahmoud Yunusa, chairman, forum of finance commissioners, says the federation allocation accounts committee is working on stripping the Nigerian National Petroleum Corporation of its powers of collecting royalty from oil companies. [...]
Petrobarometer
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Over 100 days after the passage of the the Petroleum Industry Governance Bill (PIGB) by the national assembly, the bill has finally arrived at the desk of President Muhammadu Buhari for his assent. [...]
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The Nigerian National Petroleum Corporation (NNPC) says the federation accounts and allocation committee (FAAC) meeting with governors ended in a deadlock because they wanted extra N40 billion.The revenue sharing meeting had ended in a deadlock on Wednesday for the third time since January 2018. [...]
Africa has now taken the lead in the Organisation of Petroleum Exporting Countries (OPEC) in terms of member countries.Of the 15 member countries, Africa now has seven countries in OPEC as against six from the Middle East. [...]
Publish What You Pay (PWYP), a civil society organisation (CSO), says the national assembly and President Muhammadu Buhari should immediately do the needful on the petroleum industry governance bill (PIGB).Speaking with journalists on Monday, Peter Egbule, national coordinator of PWYP, said all four parts of the Petroleum Industry Bill (PIB) would significantly reduce financial leakages, encourage foreign and domestic investments [...]
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Maikanti Baru, group managing director of Nigerian National Petroleum Corporation (NNPC), says direct-sale-direct-purchase (DSDP) contracts have been extended till December 2018.The agreement allows for sales of crude oil to refiners, who will in turn supply NNPC with an equivalent worth of petroleum products. [...]
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