Mrs Zainab Ahmed, the Minister for Finance, Budget and National Planning says under-recovery of Premium Motor Spirit (PMS), popularly referred to as fuel subsidy will gulp N450 billion in 2020. She said this on Monday in Abuja, at the public presentation of the 2020 budget proposals. Ahmed said it was called ‘under-recovery’ because it was […]
Micheal Ajayi Nigeria has confirmed the validity of his stand on the nine-month extension in the oil production cut under the “Declaration of Cooperation’’ which seeks to improve global oil market stability among OPEC members. This was made known on Monday by the Head of the Nigerian Delegation to the 176th Meeting of OPEC, Dr […]
“Kpo-fire” is a slang used to describe illegal oil bunkering business thriving in the Niger Delta region. It is coined from the explosive sound produced when fuel is poured on fire. In several creek communities that feed the Escravos River, which opens into the Atlantic, there are illegal bunkering sites where sweaty young men and […]