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NEWS

DG not involved in any fraud, says PenCom

The National Pension Commission has dismissed documents in circulation purporting that its Director-General, Mrs. Aisha Dahir-Umar, spent millions of dollars on travel during the COVID-19 pandemic. In a statement, PenCom described said the accusation against the director-general was a figment of the imagination of its promoters. It maintained that Dahir-Umar could not get the ‘humongous estacodes’ even if she spent two years outside the country. PenCom said, “Management would like […]

todayJuly 31, 2023 6

BUSINESS

Global petrol price rises by 20%

Price of petrol may to rise further as international market data revealed that the commodity has gained 20 per cent. At the beginning of 2023, Brent crude traded around $78 per barrel. However, last week, the international benchmark hit $83 per barrel. On the other hand, petrol prices started the year at less than $2.50 per gallon. Last week, it hit $2.90 per gallon, and analysts said it could reach […]

todayJuly 31, 2023 4

BUSINESS

Reps probe $9.5bn loss to gas flaring annually

The Speaker of the House of Representatives, Rep. Tajudeen Abbas, has inaugurated an Ad hoc Committee to investigate the alleged $9.05 billion revenue loss from gas flaring in the last decade in Nigeria. Abbas, at the inauguration of the House ad hoc committee on Gas Flaring on Monday, charged the committee to get to the root causes of gas flaring and make recommendations to end the menace. He said that […]

todayJuly 25, 2023 24

BUSINESS

Power sector gas debt hits $1bn, says NGA

A new gas pricing template for the power sector and gas-based industries has been developed and currently awaits the approval of President Bola Tinubu, the Nigerian Midstream, and Downstream Petroleum Regulatory Authority announced on Wednesday. It was also revealed that the legacy gas debts of the power sector to gas suppliers in Nigeria had risen to about $1bn, as efforts were ongoing to finalise the figures and find a comfortable […]

todayJuly 13, 2023 5

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