Industries

The Speaker of the House of Representatives, Femi Gbajabiamila has assured Nigerians that members of the Green Chamber which he superintends are determined to pass the Petroleum Industry Bill (PIB) within the next six months. He gave the assurance on Tuesday in Abuja when he received a delegation of the Oil Producers Trade Section (OPTS) under the Lagos State Chamber of Commerce and Industry. “On the PIB, there are two things that the House would want to do – first, the House is determined to pass the bill within the next six months, or probably less, because the clock has…

The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has increased the ex-depot price of Premium Motor Spirit, also known as petrol, to N155.17 per litre from N147.67 per litre. The PPMC disclosed this in an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020, and signed by Tijjani Ali According to the memo, the petrol depot price increased to as marketers to sell at N168-N170/litre effect from Friday 13 Nov 2020. In its PMS price proposal for November, the PPMC put the landing cost of petrol at N128.89 per litre, up from N119.77 per…

Minister of State for Petroleum Resources Timipre Sylva says the Federal government will soon begin oil exploration in the Lake Chad Basin. Sylva also said the relative peace in Borno state and the Lake Chad area informed the decision for the exploration and drilling activities. The Minister disclosed this to journalists after meeting with the Chief of Army Staff Lt. Gen. Tukur Buratai at the headquarters of Operation Lafiya Dole in Maiduguri on Thursday. According to him, “As you may well know, we have found oil in Gombe and we believe that there is a lot of oil to be…

The National Coordinator of Peoples Democratic Party Coalition, PDPCO, Chief Dr Emeka Kalu has congratulated Nigerian Industrialist and CEO of Innoson Vehicles Manufacturing (IVM), Chief Innocent Chukwuma on his 60th birthday. Kalu, in a birthday wish described Chief Chukwuma as a trailblazer and worthy Ambassador of the Igbo people. He said “With great joy, I celebrate one of Africa's most inspiring industrialists, the Chairman and CEO of Innoson Motors, Chief (Dr) Innocent Chukwuma OFR.” “Chief Chukwuma, popularly called Innoson, is a trailblazer in the automobile business, an embodiment of hard work, determination and consistency whose singular ingenuity has put Ndigbo…