Although there has been significant peace in the Niger Delta region, allowing for unhindered oil extraction, there are reports that crude oil theft rose by 50% to 9, 000 barrels per day in 2017 from about 6, 000 barrels per day in 2016. The Royal Dutch Shell Plc, the parent company of Shell Company in Nigeria made this known in its annual sustainability report released yesterday.

The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh has reiterated the resolve of the Bureau not to compromise on transparency and integrity in the sale and management of public assets in the country. Speaking at the joint kick-off meeting of the transaction advisers for the privatisation of Afam Power Generation Plant and Yola Power Distribution Company in Abuja on Wednesday, April 4, 2018,

The management of the Nigerian National Petroleum Corporation has begun mass demolition of buildings including residential structures and shops erected on pipeline right of way in some parts of Ilorin metropolis, the Kwara State capital, North Central Nigeria. It was gathered that NNPC had mobilized equipment to the affected areas within the Ilorin metropolis where its operatives carried out the demolition exercise.

The Nigerian National Petroleum Corporation (NNPC) said on Friday it had awarded two of three gas pipeline contracts which in total will be worth more than $2.8 billion. One contract for a roughly 200 km (124.27 miles) stretch of the 614 km Ajaokuta-Kaduna-Kano pipeline and stations was awarded to Oando PLC and OilServe, the state oil company said in a statement.

The Federal Government has said it would soon release another list containing the names of public office holders who looted government treasury in the past. The Minister of Information and Culture, Alhaji Lai Mohammed who made this known in a chat with newsmen in Ilorin, the Kwara state capital said no form of intimidation would stop the government from releasing another list of looters.

In a bid to address Africa’s trade finance market, the Board of Directors, African Development Bank (AfDB) has approved 50 million dollars unfunded Risk Participation Agreement for Commerzbank. The bank announced this in a statement signed by its Principal Communication Officer, Mrs Olivia Obiang in Abuja.

The Federal Government has assured that the sale of Afam Power Plant as well as Yola Disco would be done transparently. The assurance is coming after the government announced that it has appointed transaction advisers for the privatization of Power Generating and Distribution Companies, thus signaling the commencement of the sales of the companies.

The Secretary to the Government of the Federation (SGF), Boss Mustapha on Thursday lamented that only 4,000km of Nigeria’s 10,000km waterways is navigable. The SGF stated this at the Nigeria – Ukraine Trade and Investment Roundtable held in Abuja. He sought the cooperation of the Ukrainian Government to enable the Federal Government develop its waterways in order to reduce the pressure on the Nigerian roads.

The Federal Government has given approval for the construction of a Liquefied Petroleum Gas extraction plant in Rivers State. The Department of Petroleum Resources gave the approval to construct the LPG plant to Green Energy International Limited after it had earlier issued the firm a licence to establish the facility, according to a statement issued in Abuja on Friday.

Russia has announced plan to fully comply with the Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC countries deal on the oil output freeze in April. Russian Energy Minister Alexander Novak made the announcement on Tuesday after falling slightly short in March. On Monday, the minister stated that Russia fulfilled its responsibilities under the deal by 93.4 per cent in March, due to seasonal issues.