NNPC discloses that Nigeria has saved $2.2 billion (N673.2 billion) from refining over 40 billion litres of crude oil abroad through the nation’s Direct Sale and Direct Purchase scheme. Nigeria
The Nigerian National Petleum Corporation yesterday said $2.2 billion had been saved from refining over 40 billion litres of crude oil abroad through the nation’s Direct Sale and Direct Purchase scheme.
Adopted to replace the Crude Oil Swap and the Offshore Processing Arrangement, the DSDP allows the NNPC to sell crude directly to off-shore refiners and get products in return. The GMD maintained that the project delivers value optimisation to the federation and provides a more efficient and cost-effective system as well as a better option to address the loopholes in previous schemes.
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.
‘Unchecked crude oil theft fuels illegal artisanal refining’ | The Guardian Nigeria News - Nigeria and World NewsEnvironmental stakeholders have blamed the unchecked rampant crude theft for the thriving of artisanal refinery activities, which now devastate the environment in the Niger Delta. NIgreia
Read more »
Nigerian pirates abduct six sailors from oil tanker | The Guardian Nigeria News - Nigeria and World NewsPirates off Nigeria's oil-rich south have stormed a small oil tanker, kidnapping six sailors, the International Maritime Bureau (IMB) said on Thursday, the latest in a string of such attacks.
Read more »
Nigeria now has 201 million people - UNFPA | The Guardian Nigeria News - Nigeria and World NewsThe United Nation Population Fund (UNFPA) said in its 2019 State of the World Population report that Nigeria has a population of 201 million. Nigeria has had an average population growth of 2.6% between 2010 and 2019. Africa’s most populous country grew by about 5 million people from 2018 when UNFPA gave the population as 195.9 …
Read more »
Falana, others seek reform of Nigeria police | The Guardian Nigeria News - Nigeria and World NewsHuman rights lawyer, Femi Falana (SAN), has again urged Federal Government to reform the Nigeria Police to curb extra–judicial killings and human rights violations in the country. He noted that there is need for Nigeria to imbibe international best practices in human rights protection and enforcement to ensure that liberal democracy thrives. Falana the made …
Read more »
Running from Nigeria to achieve greatness | The Guardian Nigeria News - Nigeria and World NewsLast week, our labour minister, Chris Ngige told us that Nigeria has more than enough doctors, so that those who are leaving are welcome to leave, or words to that effect.
Read more »
Pakistani Navy chief visits Nigeria April 29 | The Guardian Nigeria News - Nigeria and World NewsIn a bid to boost cooperation between the Nigerian Navy and their Pakistani counterpart, especially in the areas of capacity building, Pakistan’s top naval officer, Admiral Zafar Abbasi, will visit Nigeria from April 29 to May 1. Nigeria Pakistan
Read more »
Thoughts on improving Nigeria’s elections | The Guardian Nigeria News - Nigeria and World NewsThis past election strengthened the argument for electoral reform. As we prepare for a new National Assembly to take charge, we must begin early to call for improvements in our electoral process.
Read more »
Sade Okoya: Twenty Years Of Marital Bliss | The Guardian Nigeria News - Nigeria and World NewsInside the large office complex of Eleganza Industrial City Limited, Chief Folashade Noimat Okoya is seen working on the different files on her table. She is responsible for the day-to-day management of the company, which started operation in 2012. The lady, who has made sure her life is not just about dinner parties, social engagements …
Read more »
SARS intercepts truckload of fake Panadol in Lagos | The Guardian Nigeria News - Nigeria and World NewsPolice officers intercept truckload of counterfeit Panadol Extra and Chloramphenicol eye-drop alleged to have originated from China at the Trade Fair complex, Lagos. Nigeria Lagos
Read more »
Fashola seeks compulsory registration of architects | The Guardian Nigeria News - Nigeria and World NewsMinister for Power, Works and Housing, Babatunde Raji Fashola, has recommended a compulsory ARCON Project Registration Number System (APRN) to derail the determination of quacks and contain the scourge of building failures and collapse. Fashola made this recommendation yesterday in Abuja at the 2019 Architect Colloquium organised by the Architect Registration Council of Nigeria (ARCON). …
Read more »
Train crushes tricyclist, passengers in Iju-Ishaga | The Guardian Nigeria News - Nigeria and World NewsAn Abule Egba-bound train, this morning, crushed a tricyclist and his four passengers after its driver wanted to make a late dash across the tracks. It was gathered that the train had left the station at Ike Aro and was heading towards Abule Egba when the tragedy occurred as it approached Toyin, a suburb between …
Read more »