NNPC ‘banked over N50 billion in TSA breach’

NNPC Group Managing Director (GMD), Mr. Maikanti Baru, to appear before its ad hoc committee probing implementation of the policy next week Wednesday   • Reps summon GMD, CEOs, seek evidence ‘Buhari approved non-compliance’ The House of Representatives yesterday uncovered how the Nigeria National Petroleum Corporation (NNPC) flouted the Treasury Single Account (TSA) policy by […]

2017-Volvo-XC60

The second-generation Volvo XC60 has all the luxury, technology and Scandinavian good looks of its big brother, the XC90, although it is a bit more athletic. But with loads of hot new competition right around the corner, it has its work cut out for it. But as Gavin D’souza finds out, Volvo has come well […]

FG blames fuel scarcity on external demand

Fuel queue at a filling station at Central Business District Area, Garki, Abuja. PHOTO: NAN     • Orders Kachikwu, Baru to remedy situation • Insists no plan to increase pump price •Confusion in PPPRA over pricing template The Federal Government has blamed the ongoing fuel scarcity on increased demand by nations in temperate regions.Addressing […]

SON, operators unveil new guidelines for roofing sheets

Osita Aboloma   The Standards Organisation of Nigeria (SON) and stakeholders in the galvanized steel roofing sheets have partnered to improve the modification of existing roofing sheets for better performance and efficiency. Indeed, the standards body, inundated with complaints over the thickness and coating of galvanized steel sheets in the country, decided to address the […]

New regulation threatens N466b power sector loans

• Discos to declare force majeure • Downstream assets confiscated over bad debt • Marketers lament delay in payment of $2b subsidy arrears The nation’s banks could lose over N466 billion exposures to the power sector due to new policy by the Nigerian Electricity Regulatory Commission (NERC). Operators in the ailing sector say the regulation […]

Nigeria’s crude oil suffers setback as more traders opt for U.S. blend

Nigeria’s crude oil is under serious pressure at the international market, as Asian refiners have increasingly been moving away from their usual favourite, frequently opting for United State (U.S) crude oil, the Organisation of the Petroleum Exporting Countries (OPEC) has said. Besides, Nigeria’s crude oil production declined by 54,200 barrels per day (bpd) from the […]