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Nigerian Prize for Science now a solution hub _Prof Nnaji
Sopuruchi Onwuka Nigeria’s policy drivers and industry captains should tap into the opportunities provided in the sustained research outcomes from the Nigerian Prize for Science to harness solutions to the country’s socio-economic problems. Chairman of the Advisory Board of the…
Nigeria to earn $40bn of OPEC’s $842 bn export income in 2022
Sopuruchi Onwuka Real income from crude oil exports for Nigeria’s fiscal funding will reach $37 billion by the end of 2022 but there are high chances that the country could muster significant $40 billion in the year, according to projections…
Fuel subsidy: The saga, the façade and the facts
Sopuruchi Onwuka As Nigeria enters political campaign mode in preparation for the 2023 general elections, government’s domestic petrol subsidy has also traditionally surged to new heights despite the highly glorified Petroleum Industry Act (PIA) which ought to have activated deregulation…
Failed concessions: Nigeria to pay $496m claims Mittal Group
(Agency report) Nigeria has agreed to pay $496 million to settle a multi-billion dollar claim from Global Steel Holdings Ltd following the termination of a contract to upgrade the country’s steel plants, the presidency said on Saturday. Global Steel, which…
NNPC, NUPRC take different routes to oil loss mitigation
Sopuruchi Onwuka The controversy surrounding industrial scale stealing of crude oil from the operations of players in the upstream petroleum industry in Nigeria is receiving separate responses from the industry regulator and national oil company that manage government’s commercial interest…
Deregulation: Ogbeche calculates potential N12 trn gain for govt
Sopuruchi Onwuka The Group Managing Director of Rainoil Limited, Dr Gabriel Ogbechie, says full commercial deregulation of the nation’s domestic fuel market could save over N12 trillion. Dr Ogbeche who made a presentation on the benefits of deregulation at the…
MOMAN sees difficulty in inevitable deregulation
Sopuruchi Onwuka The Major Oil Marketers Association of Nigeria (MOMAN) says ending subsidy on Premium Motor Spirit (PMS) is extremely difficult but the Federal Government has no other option in light of current economic realities. MOMAN also called for massive…
Subsidy removal must come with fiscal responsibility, financial prudence _Organized laour
Sopuruchi Onwuka Senior workers union in the country insist that government has not demonstrated any need for austerity measures in the economy, warning that sacrificing the life of impoverished Nigerian masses through planned removal of subsidy on petrol prices would…
NEITI calls for greater resource accountability
Sopuruchi Onwuka Resource watchdog, the Nigeria Extractive Industries Transparency Initiative (NEITI), has stressed the need for greater transparency and accountability in the management of the nation’s mineral resources. The Executive Secretary, Dr Orji Ogbonnaya Orji, declared at the 2022 Strategic…
Chevron demands business enhancing regulation
Sopuruchi Onwuka American multinational oil company, Chevron, has called on government to deploy the Petroleum Industry Act (PIA) 2021 in promoting fiscal and regulatory arrangements that would make the domestic operating environment more congenial for commercial investments. Chairman and Managing…
