Business
Mosimi oil depot begins loading one year after
Nigeria National Petroleum Corporation depot at Mosimi has reopen and resumed loading after almost a year, when a major pipeline was vandalised in May 2016, NNPC Group Managing Director Maikanti Baru has said. The resumption of loading he said will help the Nigerian National Petroleum Corporation (NNPC) stem losses that arose from the damage, as trucks had to drive from Lagos to replace the pipeline.
The NNPC also plans to bring back online pipelines from the city of Kaduna to Kano, Jos and Suleja, Baru said, though he gave no further details.
Theft, sabotage and other attacks on oil product pipelines are a major problem for the NNPC. Last year, militant attacks on facilities in the Niger Delta region cut Nigeria’s oil production by as much as a third.
Nigeria’s government relies on crude exports for roughly two-thirds of its revenue.
-
Economy2 days agoNigeria Sovereign Investment Authority announces winners of $275,000 prize for innovation
-
Finance2 days agoAirtel Money reports 25% growth in first-half revenue in maiden results
-
News2 days agoEFCC arrests 14 Chinese nationals in Nigeria for operating illegal lithium processing plants
-
Maritime2 days agoNIMASA, ITF signs MOU on Seafarer wellbeing, MoU First in Africa—ITF
-
Oil and Gas2 days agoHoneywell Technologies launches new AI platform at Dangote’s Nigeria refinery
-
Economy2 days agoFG targets single-digit inflation by end-2027 to unlock cheaper borrowing— Oyedele
-
News16 hours agoTop 20 Ecobank’s InnovateX finalists emerge for ₦20m prize money
-
Industry16 hours agoMAN summit to tackle high energy costs for manufacturers