Department of Petroleum Resources (DPR) recently said it remitted N673.72 billion to the federal government coffers in the first half of 2020. The disclosure came against the backdrop of a recent query by the Senate accusing DPR of remitting N44.5 billion into the Consolidated Revenue Fund (CRF) out of the[Read More…]
Tag: petroleum
Between Consumer and Petroleum Pump Price
Consumer spending is one of the main engines of economic growth, and its trajectory in the months ahead will be an important indicator of the Nigeria’s economic health. If the current trend continues, average daily spending could break through the bench mark on a routine basis, and thus denote a[Read More…]
DPR Shuts Down Errant Filling Stations for Not Complying with New Petroleum Pump Price
The Department of Petroleum Resources is enforcing the new price range of N121.5 to N123.5/litre for petrol at filling stations across the country and has shut down errant outlets selling above the stipulated rate. It was gathered that all zonal operations controllers of the DPR agreed to inspect and enforce[Read More…]
DPR to commence clampdown on ilegal gas plants in Kwara soon – Official
The Department of Petroleum Resources (DPR) in Kwara, on Friday, says it will soon clampdown on illegal gas outlets operating in various parts of the state. The DPR Head of Operations in Kwara, Mr Oyedele Ibitayo, disclosed this in Ilorin DPR had earlier embarked on a road show on Gas[Read More…]
DPR shuts down 42 illegal gas stations in A’Ibom
The Department of Petroleum Resources(DPR) has closed down at least 42 illegal gas stations in Akwa Ibom State for allegedly engaging in unsafe practices. DPR operations controller in the state, Tamunoiminabo Kingsley-Sundaye,who disclosed this to journalists in Eket local government area recently said the stations were shut down between Jan[Read More…]
NNPC records 16% increase in gas supply to Power in November
The Nigerian National Petroleum Corporation (NNPC) said that the daily average natural gas supply to gas-powered plants in November 2019 increased by 16.53 per cent to 645 mmscfd. The Corporation disclosed this in its Monthly Financial and Operations Reports (MFOR) released in Abuja, on Sunday. The increment, it said was[Read More…]
manual processing of licences permits suspended – DPR
The Department of Petroleum Resources (DPR) has suspended the manual processing of all downstream application for licenses and permits. The agency explained further that to replace the manual process, it has launched its digitization initiative for downstream operations under the ‘Automated Downstream System’ (ADS) program. The digital initiative according to[Read More…]
DPR seal gas stations in Delta over offences
The Department of Petroleum Resources (DPR), Warri Zonal Office yesterday said it has sealed 10 gas plants and 40 gas retail shops over various offences in Delta. Engr. Victor Ohwodiasa, the Manager, Gas division, Warri led a surveillance team of the regulatory agency on the routine exercise on behalf of[Read More…]
ICPC confirms arrest of Petroleum Equalisation Fund boss
The Independent Corrupt Practices and Other Related Offences Commission (ICPC), has detained Mr Goddy Nnadi, the General Manager (Corporate Services), Petroleum Equalisation Fund. The spokesperson of the commission, Mrs Rasheedat Okoduwa, told News Agency of Nigeria (NAN) in Abuja on Wednesday, that Nnadi was arrested on Monday and detained by[Read More…]
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FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]