Petroleum industry operators have called on President Muhammdu Buhari, to urgently stimulate exploration and production activities in the country in order to place Nigeria on a competitive reserves and production status with its peers in the Organisation of the Petroleum Exporting Countries, OPEC.

Continuing, he said: “Growth will rebound after a disappointing 2015 to almost five per cent in 2016 as tight fuel supplies and power outages abate and a more accommodative monetary and fiscal stance takes hold. A crackdown on corruption should also help to increase FDI inflows, supported by improved security and better governance

February 1, the Nigerian Electricity Regulatory Commission, NERC,approved the takeoff of new electricity structure under the Multi Year Tariff Order, MYTO 2015. Prior to the takeoff, there were scepticisms about whether the new rates will come to be or not given the public outcry and resistance even from the legislators.

When will Nigerians say goodbye to the ever present power outage that has stunted the economic development of Africa’s biggest economy?

Audrey Joe-Ezigbo is the Co-Founder and Executive Director, Commercial Operations of Falcon Corporation Limited and a member of the Executive Committee of the Nigerian Gas Association.

The Independent Petroleum Marketers Association of Nigeria, IPMAN, said the decision of the Nigerian National Petroleum Corporation, NNPC, to supply petrol directly to marketers will go a long way to ease up the lingering fuel scarcity in the country

A recent report has indicated that Nigeria loses about 50 percent of its generation, transmission and distribution due to ageing infrastructure.

ORGANISED labour in the nation’s power sector has said over 50,000 former employees of the defunct Power Holding Company of Nigeria, PHCN, are still being owed benefits, while over 5,000 have not received any entitlement at all more than two years after the privatisation of power assets.

Despite scoring Chevron Nigeria Limited, CNL, 80 percent in promoting local content development against industry average of 60 percent, the management of Dharmattan Nigeria Limited, still wants the multinational oil company to do more in the area of international partnerships.

The Nigerian Navy said it had adopted a new training regime that would improve troop’s proficiency in internal security operations in the country.

At a time Nigerian firms are complaining that the international oil companies, IOCs are not domiciling enough jobs in country for local service companies, some of those working for Chevron Nigeria Limited, CNL, have a different testimony.

Last Monday, a civil suit instituted by an indigenous oil service company, Arco Group, against the multinational oil giant, Nigeria Agip Oil Company, NAOC, came before Justice Lambo Akanbi of the Federal High Court, Port Harcourt, Rivers State.

The Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Dr. Ibe Kachikwu, has said that only the availability of appropriate gas policy can end gas flaring in the country.

Stakeholders have constantly harped on the huge minerals endowment and its potential for the Nigerian economy, even as successive administrations have emphasized on the need for diversification of the economy from just petroleum to other sectors including solid minerals.

One of the categorical statements made by the Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Dr. Emmanuel Ibe Kachikwu, about the finances of the Corporation is that given its assets base NNPC is not broke.