Tag: Oil
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Food industry is like the oil industry – Hilda Baci
World Guinness Record holder in the longest cooking marathon, Hilda Bassey, popularly known as Hilda Baci, has said the food industry is like the oil industry and can generate as much revenue for the nation. Baci on Saturday pledged to continue to work toward putting Nigeria on global culinary map.
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PIA, regulation and return of investment in oil and gas – By Akpandem James
There is absolutely no doubt that Africa is a very rich continent, both in terms of human and natural resources. It is this massive wealth, particularly of natural resources, that has continued to attract both the developed and developing world to its embrace. The developed countries often come with rapist tendencies, but pose as developers…
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$2.4bn oil revenue probe not witch-hunting, says Gbajabiamila
The 2.4 billion dollars revenue probe over the alleged illegal sale of 48 million barrels of crude oil export from 2014-2015 is not a witchhunt, says Mr Femi Gbajabiamila, Speaker of the House of Representatives. Gbajabiamila made the clarification at plenary on Tuesday in Abuja, during the House
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Oil no longer sufficient to feed Nigeria’s growing population – Obasanjo
Former Nigerian President Chief Olusegun Obasanjo has said that the oil and gas sector can no longer feed the growing population of Nigerians. Obasanjo spoke at the weekend when the leadership of the apex socio-cultural group in Tiv land of Benue State, Mzough U Tiv (MUT) paid him appreciation and friendship visit at his Olusegun…
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13% derivation fund: We only received N2.1bn – Edo govt
Edo Government on Wednesday said that it received N2.1 billion from the 13 per cent derivation fund paid by the Federal Government to oil-producing states. The state Commissioner for Finance, Budget, and Economic Planning, Joseph Eboigbe was reacting to the statement by Rivers Governor Nyesome Wike that Edo received N28 billion. Speaking to newsmen in…
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Nigeria economy can thrive without oil – NEPC boss
The Nigerian Export Promotion says the nation’s economy can thrive better without oil if the non-oil sector is prioritised.
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PIA to unlock investments in Nigeria’s oil, gas sector – Sylva
The Minister of State Petroleum Resources Chief Timipre Sylva, has said that the desire to surmount the challenges bedeviling the oil and gas sector led to the enactment of the Petroleum Industry Act (PIA). Sylva spoke at the Nigeria International Economic Partnership Forum, in New York, with the theme: “Nigeria’s Oil and Gas Sector: Reforms,…
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CBN makes strong case for economic diversification
The Director of Trade and Exchange Department, Central Bank of Nigeria (CBN), Dr Ozoemena Nnaji has said there is an urgent need to diversify the Nigerian economy to spur growth.
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Scores burnt beyond recognition as explosion rocks illegal refinery in Rivers
Scores of people were on Saturday burnt beyond recognition following an explosion at an illegal oil refinery in Rivers. Mr Idris Musa, Director-General, National Oil Spills Detection and Response Agency (NOSDRA), who confirmed the incident said investigation into the explosion by the agency is underway.
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OPEC warns about abandoning oil and gas in Africa
Africa alone accounts for less than three per cent of global emissions