FG Increases Gas to Power Price Price By 11% The federal government has announced an increase in the wholesale price of gas to power plants by 11 per cent from $2.18 per MMBTU (Million British Thermal Unit) to $2.42/mmbtu. The gas companies had since January this...

FG Approves 94 Import Permits to Oil Marketers The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, says it has issued a total of 94 importation licences to oil marketers. This was revealed by the Chief Executive, NMDPRA, Farouk Ahmed, at the opening...

Petrol Subsidy Gulps N4.8trn Annually - FG The Federal Government through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) stated on Tuesday that fuel subsidy was gulping about N4.8tn from its purse. The Chief Executive Officer, NMDPRA, Farouk Ahmed, disclosed this at the ongoing Energy...

Daily Petrol Consumption Drops To 52m Litres   Average daily consumption of premium motor spirit (petrol) in Nigeria has dropped from 64,964,000 per day recorded on June 30, 2023 to 52 million. Daily truck out as at August 14 stands at 1,306 trucks carrying a total of...

Power Sector Gas Debt Rises to $1bn - NGA A new gas pricing template for the power sector and gas-based industries has been developed and currently awaits the approval of President Bola Tinubu, the Nigerian Midstream, and Downstream Petroleum Regulatory Authority announced on Wednesday. It was...

Petrol: FX Scarcity Stalls Fresh Importation   The hope of fresh petrol importation into the country may have been dashed, as findings revealed that oil marketers, who have been licensed to import fuel, are currently having difficulties accessing forex (FX). Sources close to the matter said that...