The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) on Tuesday decried the continued “dollarisation” of the Nigerian economy, including the collection of charges from operators by the Nigerian Ports Authority (NPA) and the Nigerian Maritime Administration and Safety Agency (NIMASA).

Briefing the press on the harsh economic conditions that marketers have recently been subjected to, the National President of NOGASA, Benneth Korie, stated that aside rising diesel prices and bad roads, there was no sense in carrying out transactions in dollars within Nigeria.… Read the rest

The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, has disclosed that the country’s oil rigs have increased to 30 from 11 in 2011.

He linked the increase to NUPRC and other government stakeholders’ efforts to attract confidence and certainty into the oil and gas industry.

According to  Komolafe, Nigeria recorded capital expenditure worth billions of dollars within the last two and a half years due to the implementation of the Petroleum Industry Act.… Read the rest