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Fed Govt Slightly Reverse The Price of PMS

Queue at the filing station  The President,  Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr  Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
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SNEPCO-Fed Govt: We pay $907m in 2022

By Favour & Akinola Ajibade Shell 


Nigeria Exploration and Production Company (SNEPCo) paid taxes and royalties of $907 million to the federal government in 2022.  This happens, as the company continued to contribute to the country's purse to finance its development. 

Also, SNEPCO and its partners remitted more than $20.73 million to the Niger Delta Development Commission (NDDC) in compliance with statutory requirements.

“SNEPCo has been boosting  national revenue since 2005, when we pioneered production from deep-water in Nigeria after successfully drilling the first exploration well in more than 1,000 metres of waters five years earlier,” said Managing Director Elohor Aiboni, while reviewing the company’s operations.

“But we pay more than taxes and royalties. The success story at Bonga has helped to create a generation of Nigerian deep-water professionals, encouraged indigenous contractors and service providers to acquire skills and competence to support operations offshore and resulted in the construction of medical and educational institutions in addition to other aspects of social investments in different states of the federation,” Aiboni added.

SNEPCo was incorporated in 1993 to explore and deliver hydrocarbons in Nigeria’s deep-water frontier where no concerted exploration effort had previously taken place. The company has continued to deliver on this mandate through Bonga and other deep-water blocs.  In February this year, Bonga produced the one billionth barrel of oil, marking a key milestone in the operations of a field located 120km off the shore of Nigeria.

Mrs. Aiboni added, “we are grateful for the support of Nigerian National Petroleum Company (NNPC) Limited and our Co-venture partners consisting of Nigerian Agip Oil Company Limited, Total Energies Nigeria and Esso Exploration and Production Nigeria (Deepwater) Limited. SNEPCo will continue to operate safely and deliver real benefits to all stakeholders, including the people and government of Nigeria.”

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