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Saudi Arabia targets $600b Sovereign Wealth Fund

October 6, 2018 Editorial III 0

Saudi Arabia’s Crown Prince Mohammed bin Salman said the kingdom’s main sovereign wealth fund (PIF) will surpass its target of increasing its financial clout to $600 billion by 2020, as part of the efforts to wean economy off oil. “We are now above $300 billion, we’re getting close to $400 billion. Our target in 2020 is around $600 billion. I Read More

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NNPC records 17.16bn trading surplus in April 2018

September 25, 2018 Blueprint 0

The Nigerian National Petroleum Corporation (NNPC) has consolidated on its operational performance with a trading surplus of 17.16 billion in the month of April, 2018. This represents a 5.43 billion improvement representing 46.29 per cent on the trading surplus recorded in the previous month. NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, who disclosed this in a Read More

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Buhari yet to receive petroleum industry bill – Presidency 

May 16, 2018 Blueprint 0

The Presidency said on Wednesday that President Muhammadu Buhari is yet to receive the harmonised Petroleum Industry Governance Bill (PIGB) by the two chambers of the National Assembly on March 28, 2018. Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, said his findings revealed that the bill is still undergoing standard operating legislative processes of the National Read More

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Kachikwu saddened by leakage of memo to Buhari as Senate probes allegations  

October 4, 2017 Blueprint 0

  Ibe Kachikwu, minister of state for petroleum resources, says it is distressing that the letter he wrote to President Muhammadu Buhari was leaked. In the letter, which was circulated on social media on Tuesday, Kachikwu notified the president of the alleged insubordination of Maikanti Baru, group managing director of the Nigerian National Petroleum Corporation (NNPC). He said he was Read More

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FG begins exportation of refi ned petrol in 2020

July 13, 2017 Blueprint 0

By Moses John Abuja Th ere are indications that the federal government would begin exportation of refi ned petroleum product in the next three years, bringing an end to the importation regime. Specifi cally, the country said it would at least, generate 10 GW of operational electricity capacity by 2020; and achieve self-suffi ciency in rice in 2018 and and Read More