Reports indicate that the FG plans to spend N720 billion for the next 6 months on Premium Motor Spirit (PMS) subsidies.
The glaring security challenge cannot be overlooked in considering a major power plant project in Borno State.
The NNPC has commenced the transportation of pipeline for the AKK Gas project by rail.
NNPC has stated its commitment to global transition development to renewable energy and biofuels.
Marie Tecnimont intends to use the Port Harcourt refinery deal to strengthen its footprint in Nigeria.
Seplat Petroleum reported it took an impairment loss of N41.1 billion ($114.4 million) from its interest in OML 55.
A deal for the rehabilitation of Port Harcourt Refining Company (PHRC) has been signed by the NNPC.
The NNPC boss pointed out that there are huge investment opportunities in the downstream sector, especially in pipeline and depot rehabilitation.
The President noted that the NLNG has generated $114 billion in revenues over the years.
With the paucity of funds the government faces, the spending of $1.5 billion on a refinery should be at the back burner.