Nigeria realised N512.25bn from VAT in Q2 2021 – NBS

August 10, 2021 Blueprint 0

total of N512.25 billion Value Added Tax was generated into the federation account in the second quarter of 2021. This is according to the data published by National Bureau of Statistics NBS on its website. The NBS data indicated that the “sectoral distribution of Value Added Tax (VAT) data for Q2 2021 reflected that the sum of N512.25bn was generated Read More

Brent crude oil price slides to $68.86 a barrel

August 9, 2021 David Agba 0

Oil prices fell about 3% on Monday, extending last week’s steep losses on the back of a rising U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand. A United Nations panel’s dire warning on climate change added to the gloomy mood after fires in Greece have razed homes and Read More

Oil nears $75pb

July 29, 2021 Blueprint 0

Oil rose toward $75 a barrel on Wednesday after data showed U.S. crude inventories fell more sharply than analysts had forecast, bringing the market’s focus back to tight supplies rather than rising coronavirus infections. Crude inventories fell by 4.1 million barrels in the week to July 23, the U.S. Energy Information Administration said Wednesday. Gasoline and distillate fuel stocks also Read More

NEITI accuses ND Western, Shoreline of over-reporting crude oil losses

July 27, 2021 Blueprint 0

The Nigeria Extractive Industries Transparency Initiative (NEITI), has accused two oil companies, ND Western Limited and Shoreline Natural Resources of reporting crude oil losses higher than their production output for the year 2019. NEITI, in its 2019 oil and gas audit report released recently, said the company over-reported the losses due mainly to faulty metering facility, in addition to theft Read More

Oil steady as virus casts demand shadow

July 27, 2021 Blueprint 0

Oil steadied as investors assessed the outlook for global demand amid a resurgence in Covid-19 that’s leading to tighter restrictions. Futures fluctuated near $72 a barrel in New York. The rebound in key energy consumers such as the U.S. and China has helped to underpin increasing fuel consumption and drained bloated stockpiles built up during the pandemic. The fast-spreading delta Read More

NDDC: Don writes Buhari, faults Oron nation’s oil bearing LGs claims

July 27, 2021 Adoyi M. Aba 0

A Professor of Paleontology and Marine Ecology, Etie Ben Akpan, has petitioned President Muhammadu Buhari in strong disapproval of a recent letter by Oron Union which claimed that over 80% of the oil produced in Akwa Ibom state emanated from their territory. In his letter themed Re: Letter to President Muhammadu Buhari on the constitution of the management board of Read More

South Korea’s Envoy visits Bayelsa, explores investment opportunities

July 24, 2021 Joy Emmanuel 0

Former President, Dr. Goodluck Jonathan, has said great opportunities abound in Bayelsa State for foreign investors. The former Nigerian leader stated this at a state banquet  organised by the Bayelsa state government in honour of the South Korean Ambassador to Nigeria, Kim Young-Chae, on Friday night in Yenagoa. Amb. Young-Chae was on a two-day visit to the state. Describing Bayelsa Read More

PIB: Stop instigating violence in Niger Delta, Bayelsa Senator warns Dickson

July 23, 2021 Bode Olagoke 0

The Senator representing Bayelsa East, Biobarakuma Wangagha Degi-Eremienyo, has warned former governor of Bayelsa state Senator Henry Seriake Dickson to stop instigating violence in the Niger Delta over the contentious Petroleum Industry Bill ((PIB). Degi-Eremienyo was reacting to a press conference by Dicskon on Thursday where where he accused the Minister of State (Petroleum resources), Chief Timipre Sylva of allegedly Read More

Emerging markets take fresh leap in renewables

July 20, 2021 Blueprint 0

Researchers have seen an energetic leap in renewable energy initiative by emerging markets as they spring in a swift, frisky curvet investing in that space.They expressed the opinion that the amount of electricity generated from burning fossil fuels has likely peaked worldwide, as emerging markets invest in clean and cheap renewables over coal, oil and gas. That is the finding Read More

Oil slumps 6% amid OPEC+ deal

July 20, 2021 Blueprint 0

Oil prices plunged more than $4 a barrel on Monday, headed for its worst day since March, after OPEC+ agreed to boost output, stoking fears of a surplus as rising COVID-19 infections in many countries threaten demand. Member countries of the oil cartel, OPEC+ agreed to increase oil output by an initial 400,000 barrels per day. The decision increases Nigeria’s Read More

Subsidy saga: Govt’s stance, citizens’ dilemma

July 16, 2021 BENJAMIN UMUTEME 0

… Nigeria bleeding from subsidy payment – Kyari ‘… Irregularities make amount being spent uncertain’  … It’s compounded by politics – Economist ‘…A pro-people policy on crude refining key’ … Ignorance fuelling oppositions – Sylva The issue of fuel subsidy removal remains a thorny one with each administration engrossed in the debate. Notwithstanding Nigeria’s economic realities, its fiscal authorities are Read More