“We are beginning to be afraid as to why we are channelling all our efforts to this oil and gas if the returns on investment are nothing to write home about.”
The information was contained in a circular issued by the Petroleum Products Pricing Regulatory Agency to marketers dated May 31, 2020.
Also speaking, national president of the Petroleum Products Retail Outlets Owners Association of Nigeria , Dr. Billy Gillis Harry, pointed out that the decision would create losses for marketers, as their purchasing power will be adversely impacted. The Chief Operating Officer, NNPC Upstream, Yemi Adetunji, who was addressing the upper legislative chamber’s Committee on Finance in Abuja yesterday, advanced security challenges, pipeline vandalism and administrative issues for the high production cost.
His words: “With the benchmark of $25 as proposed, Nigeria is just going to have just $3 as its own returns on investment?
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Marketers groan as FG cuts petrol price to N121.50|h3 style=
Read more »
BREAKING: FG reduces petrol pump price to N121.50 per litreThe Petroleum Products Pricing Regulatory Agency (PPPRA ) on Monday announced the reduction of the pump price of the Premium Motor Spirit (PMS) to N121.50 from N123 per litre.
Read more »
FG reduces petrol price to N121.50The Federal Government has reduced the pump price of Premium Motor Spirit (AKA petrol) to N121.50 per litre. The Petroleum Products Pricing Regulatory Agency, which is responsible for setting the p…
Read more »
BREAKING: FG reduces petrol pump price to N121.50
Read more »
Biafra Remembrance Day: Why grievances, resentments linger 50 years afterThe remote and immediate triggers of the Nigerian civil war which ended 50 years ago after claiming millions of lives have not been resolved, Nnia Nwodo, the leader of Ohanaeze, the apex Pan-Igbo socio-cultural organisation has said.
Read more »
Flights to resume June 21, govt orders 50% passenger reduction
Read more »