The South-South Governors Forum (SSGF) has formally endorsed President Bola Tinubu’s recent Executive Order mandating the direct remittance of all oil and gas revenues to the Federation Account, describing it as a landmark intervention in Nigeria’s petroleum sector. The decision, which fundamentally alters the financial relationship between the Nigerian National Petroleum Company Limited (NNPCL) and […]
Sunday Dare, President Bola Tinubu’s Special Adviser on Media and Public Communications, has defended Executive Order 9, arguing that it does not amount to an abuse of executive authority but rather upholds constitutional revenue management provisions. Executive Order 9 of 2026, officially known as the Presidential Executive Order to Safeguard Federation Oil and Gas Revenues […]
SAMUEL MOBOLAJI Nigeria’s oil and gas sector has entered a new commercial era under the Petroleum Industry Act (PIA), with investors eyeing opportunities as the country targets crude production of 2.5 million barrels per day (bpd) by the end of 2026. Current output averages between 1.7 million and 1.83 million bpd, leaving a significant gap […]
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Thursday presented Nigeria’s first Gas Trading License and Clearing House and Settlement Authorisation to JEX Markets Limited, in line with the Petroleum Industry Act (PIA). The official presentation was done in Abuja by Dr Ekperikpe Ekpo, Minister of State Petroleum Resources (Gas), Authority Chief Executive, […]
The House of Representatives Ad hoc Committee on Decommissioning and Abandonment has faulted the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over alleged non compliance with provisions of the Petroleum Industry Act (PIA). The committee said poor enforcement of the law has continued to hinder proper […]
The House of Representatives has expressed deep concern over alleged violations of local content and tax laws by oil and gas companies operating in Imo State, and has resolved to investigate the matter. The resolution followed a motion moved during plenary by Hon. Chike Okafor (APC–Imo), who alleged that several oil firms had ignored the […]