Reps Order NAICOM To Postpone Insurance Industry’s Recapitalisation Deadline       The House of Representatives has directed the National Insurance Commission (NAICOM) to suspend the December 31, 2020 deadline given to insurance and reinsurance firms to increase their minimum paid up capital. The House resolution followed a motion...

Adoption Of Autogas Will Save Nigeria Over $2.5bn Annually         The introduction of gas-fired city buses as part of autogas initiative would save $2.5 billion yearly for Nigeria, currently struggling to come out from its worst recession ever. In an interview with our correspondent, managing director, Powergas,...

Oil Exploration Activities Decline, Threaten 40bn Reserves Target           Nigeria has recorded a significant 19.3 per cent decline in the level of oil exploration in the first 10 months of this year, a development which may be threatening the Federal Government’s plan to restore growth in...

Oil Workers Threaten To Shut Down Pan Ocean Oil Company         Oil workers, under the auspices of National Union of Petroleum and Natural Gas (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) in Pan Ocean Oil Limited recently acquired by Asset...

House Kicks, Dismisses Representatives As DPR Boss Shuns Summons       The House of Representatives Committee on Public Accounts, on Thursday, dismissed a delegation from the Department of Petroleum Resources from the venue of an investigative hearing on alleged financial irregularities in the department running into trillions...

LPG: DPR Sets New Guideline For Operators, Investors, Others         The Department of Petroleum Resources, DPR, said it has introduced new guidelines to accommodate more Liquefied Petroleum Gas, LPG, investors and operators across the country. The move according the agency is geared towards enhancing the availability of...