The controversial but yet crucial legislation, the Petroleum Industry Bill (PIB), aimed at transforming the Nigerian petroleum industry will get to the National Assembly by the end of next month, government and private sector officials connected with the process have assured. The new draft is devoid of the divisive controversy that characterised the old bill.
The Federal Government on Friday said it had lost more than $12 billion (N1.87 trillion) to pipeline vandalism and oil theft in the last one year.
A senior official of Nigerian National Petroleum Corporation (NNPC) has solicited the help of National Security and Civil Defence Corp (NSCDC) to help checkered the persistent vandalism on pipelines in its North East operations.
Asian refiners will boost their daily imports of Nigerian crude in June to the highest level in at least 11 months, a survey of seven traders and an analysis of loading programs has shown.
Market analysts and industry regulators have described Nigeria’s economic growth rate as exceptional. In spite of Nigeria’s huge infrastructure deficit, high level of corruption, mismanagement of resources and at a time of slow growth across developing economies, Nigeria has defied all indices underpinning theories of growth.
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