The Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), Mele Kyari, has said that the NNPC uses the official foreign exchange rate as the rest of

It said reports to the contrary are “outright falsehood”.

It said it had been funding subsidies to the tune of N400 billion monthly and that the federal government still owed the firm N2.8 trillion spent on petrol subsidy.

The company stated that the prices will continue to fluctuate due to the market dynamisms.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority said several conditions have to be met before the applicants are granted licences.

The organizations then urged Nigerians not to engage in panic buying of petroleum products.

He said the company incurred the loss due to the inability of the Federal Government to pay for subsidy.

The probe covers about a quarter-million trucks made by Daimler from the 2017 through 2022 model years.

These investments symbolize our shared future, promising considerable, long-term benefits for all Nigerians

The Professor of Financial Economics says the president’s plan to increase GDP by 6% in the short term would require a “miracle” if hindrances are not taken out of the way.

The new President said he would rather re-channel the funds into better investments that will materially improve the lives of millions.

He said money previously meant for fuel subsidy will now be used to better the Nigerian economy.

“The passage of the Petroleum Industry Act 2021 and the consequent establishment of the NNPC Limited, are expected to increase investments and strengthen oil revenues.”

They Urged the president-elect to tackle oil theft, raise oil production and end subsidy.

The outgoing governor had earlier in the year listed Cally Air as one of the state’s assets to be concessioned to private firms.

It counseled the next administration to reduce its reliance on debt to pay for expenses.

The AON said there is lack of sincerity and transparency in the process of establishing a national carrier by the Minister.

The fall of the Rand will contribute to South Africa’s high inflation rate.

He said despite the “failure” of Buhari’s administration, they have had some wins but this particular move was very unnecessary and uncalled for.

She also called on the President-elect to carefully select those who would aid his administration based on competence.