Fuel Scarcity is Causing Increase in Transportation, Food Costs
Fuel scarcity took a much worse turn at the beginning of February and one month in, the fuel queues have remained long.
Category
Oil and Gas
Analysis: Considerations for Nigeria to boost Excess Crude Account, Revenue as Global Oil Price Rises
As of the time of this report, the world’s Crude Oil is soaring above $100.
Abuja Residents Pay High Repair Cost as ‘Bad Fuel’ Damages Cars
The Godwin family, residing in Abuja, is currently facing one of the worst effects of contaminated fuel recently sold in some filling stations in the federal capital territory. Three out of their four cars are currently damaged due to the effect of the coffee-brown coloured fuel they bought for their cars from different filling stations in Abuja recently.
Nigeria’s Phantom Petrol Consumption Rate has ‘Increased’ by 10.31 Million Litres in Five Months
A Dataphyte review of the Nigerian National Petroleum Company reports shows that petrol consumption figures as at August 2021 was 1.516 billion litres.
As Crude Oil Price Rise, Nigeria’s Subsidy Burden May Rise Along with it
The price of crude oil as of 7th February stood at $93.27, its highest point in seven years.
Should the NLNG Supply 100% of its Gas Production to the Domestic Market?
Nigeria would be losing an average of N429.9 billion quarterly in export revenue if the exportation of natural gas in Nigeria is halted.
Explainer: What NNPC’s N3 Trillion Subsidy Request may Mean for Nigeria’s 2022 Fiscal Year
The Nigerian National Petroleum Company (NNPC) has requested N3 trillion as fuel subsidy in 2022.
#ChartoftheDay: 13% Derivation to Oil Producing States Over 3 Years
Oil Producing States in the country receive 13 per cent derivation as a benefits transfer scheme as stipulated in Section 162, Sub-section 2 of the Nigerian Constitution.
#ChartoftheDay: Nigeria Cleaned up Only 2% of its Oil Spillage in 5 Years
The entire volume of spills within the five years (January 2016 and June 13, 2021) is equivalent to over 850 fully loaded trucks emptied into the country’s territorial waters, onshore and offshore.
#ChartoftheDay: Amount of money Nigeria has Lost to Gas Flaring in the Last Ten Years
According to Nigerian Gas Flare Tracker, the country lost 1.6 billion dollars to gas flaring at various individual flaring sites in both 2018 and 2019, making these the two years in which the country lost the most money to gas flaring in the previous ten years.
Despite Challenges, Nigeria’s Mineral Production Increased in 2020
Nigeria recorded a 17.95% increase in mineral production in 2020 over 2019 despite the many challenges, both internal like insecurity and global like the coronavirus outbreak, faced by the country.
Fuel Subsidy vs. N5000 Grant – Two Sides of Same Coin
The Federal Government announced the monthly grant of N5000 to the most vulnerable Nigerians to cushion the effect of subsidy removal. This will be given to a maximum of 40 million Nigerians who make up the poorest wealth percentile.
Much Ado about Subsidy: What it Means and Why Nigerians Should Care
The Buhari led administration has again announced plans to remove petroleum subsidies from 2022. This development has elicited different reactions across the country.
#ChartoftheDay: Top 10 Countries with the Highest Natural Gas Reserves
Natural gas also known as fossil gas is a naturally occurring hydrocarbon gas mixture consisting of methane and commonly including varying amounts of other higher alkanes, and sometimes a small percentage of carbon dioxide, nitrogen, hydrogen sulfide, or helium.
2019 Audit Report: Lifted into Thin Air: NNPC Failed to Account for 104 Million Barrels of Domestic Crude Oil Lifted in 2019
he Nigerian National Petroleum Corporation (NNPC) has failed to account for 104.48 million barrels of domestic crude oil it lifted in 2019.