On Thursday, the house of representatives asked the federal government tosequel to the removal of the petrol subsidy by President Bola Ahmed Tinubu’s administration.
In the Reuters report, Kyari said this is the first time NNPC has said it is terminating crude swap contracts, emphasising that by importing less petrol as private companies import the bulk, NNPC would be able to pay for its purchases in cash.Speaking on the country’s production capacity, the NNPC boss said Nigeria’s total crude oil output was 1.56 million barrels per day as of Friday.
Due to illegal refining and oil theft, the country has struggled to meet its Organisation of Petroleum Exporting Countries quota of 1.742 million bpd. Nigeria’s oil production fell below the one million mark in April 2023, as output tumbled to 998,602 bpd.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Report: Petrol prices soar in Benin Republic after subsidy removal in Nigeria | TheCablePetrol prices have almost doubled across fuel stations in Benin Republic after it was announced that subsidy would be removed in Nigeria.
Source: thecableng - 🏆 2. / 80 Read more »
FACT CHECK: Yes, CO2 warms the planet and influences climate change | TheCableA viral claim on social media says carbon dioxide is not responsible for global warming. Patrick Moore, co-founder of Greenpeace, an independent global campaign network, made the claim in a
Source: thecableng - 🏆 2. / 80 Read more »
Newspaper Headlines: FG considers minimum wage review as labour threatens strike on Wednesday | TheCableThe issue of petrol subsidy removal is moving the country in an intense direction as the national dailies succinctly report alongside other biting matters in the national and sub-national politics of the country.
Source: thecableng - 🏆 2. / 80 Read more »
EFCC lacks constitutional powers to probe Zamfara accounts, says court | TheCableA federal high court sitting in Gusau, Zamfara, says the EFCC does not have the powers to invite serving and past officials of the state government.
Source: thecableng - 🏆 2. / 80 Read more »
FACT CHECK: Video shows Somalia floods, not Cyclone Mocha in Myanmar | TheCableA video of flooding shared on Twitter claimed that the footage was taken from the cyclone in Myanmar “Cyclone Mocha makes landfall, brings catastrophe,” reads one of the captions of
Source: thecableng - 🏆 2. / 80 Read more »
‘Strategic in thinking’ — Abbas lauds Tinubu for appointing Gbajabiamila as CoS | TheCableTajudeen Abbas, a member of the house of representatives, has commended President Bola Tinubu for appointing Femi Gbajabiamila as chief of staff. Gbajabiamila was appointed to the position on Friday
Source: thecableng - 🏆 2. / 80 Read more »