Boosting Local Refining and Strengthening Energy Security The Federal Government of Nigeria has officially banned the export of crude oil allocated for domestic refineries. This move aims to enhance the country’s refining capacity, minimize reliance on imported petroleum products, and reduce pressure on foreign exchange reserves. Previously, about 500,000 barrels per day meant for local […]
An audit report reveals ₦313 billion in unaccounted funds from Nigerian petroleum regulators, exposing financial mismanagement and urging recovery of lost government revenue. A recent audit by Nigeria’s Auditor General has revealed significant financial mismanagement within two key petroleum regulatory agencies, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum […]
