No policy in Nigeria’s petroleum industry has generated more controversy than subsidy removal. Since the return to democracy in 1999, it has defied ministers and even the entire lifespan of administrations. The argument is that the pump price of Premium Motor Spirit (PMS) commonly known as petrol by is lower than international benchmarks. Proponents of […]
Year: 2023
We won’t fix petrol prices again – NMDPRA
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it will no longer fix prices or release templates for Premium Motor Spirit (PMS). Authority Chief Executive (ACE), Mr Farouk Ahmed, who said this at a news conference in Abuja on Friday, said that market forces would henceforth dictate prices under the liberalised market. “As […]
Total Energies shareholders approve N8.5bn dividend payout for 2022 financial year
Shareholders of TotalEnergies Marketing Nigeria Plc have approved N8.49 billion dividend payout for 2022 financial year that translated to N25 per ordinary share for shareholders. The sharholders gave the approval at the company’s 45th Annual General Meeting (AGM) held on Thursday in Lagos, while approving all resolutions. The shareholders of the company commended the Board […]
President discusses Great Lakes situation
Angolan head of States João Lourenço analysed the political and military instability in the Great Lakes region during an audience he granted to the special envoy of the Secretary-General of the United Nations for that region, Huang Xia, on Friday. Speaking to journalists, after the meeting, the Chinese diplomat described the situation in the Great […]
Angola foresees Kz 589. 92 billion in capitalisation of Employment Fund
Angola has announced the capitalisation of National Employment Fund in Angola (FUNEA), with an initial value of 589.92 billion kwanzas (kz), from the National Treasury and other sources of income. FUNEA comprises a set of financial assets, mainly term and demand deposits. The objective is to create and support public and private projects and initiatives […]