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Tag Archives: Ibe Kachikwu

Kachikwu Says NNPC Is Wrong To Hike Petrol Price

The Minister of State for Petroleum, Dr Ibe Kachikwu, says the recent N4 increase in price of petrol in Nigerian National Petroleum Corporation (NNPC) filling stations, is wrong. Kachikwu said this after receiving an award at an event organized by the Petroleum Products Pricing Regulatory Agency (PPPRA) in Abuja on …

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Crude Oil Production Hits 2.1 Million Barrels Per Day – Ibe Kachikwu

Nigeria’s oil production is nearly back to normal following a sharp drop earlier this year due to rebels attacking pipelines, the oil minister said Tuesday. “The reality is that as of today and this morning, we are at 2.1 million barrels production. That’s substantial,” Minister of State for Petroleum Emmanuel …

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Federal Government Allocates $10 Billion (N3.5 Trillion) For Infrastructural Development In Niger Delta

Nigeria launched a $10 billion infrastructure program on Thursday in its restive Delta region as part of a plan to end an insurgency that has hobbled oil production. President Muhammadu Buhari will meet representatives of militant groups and community leaders from the Niger Delta in Abuja next week in a …

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Nigeria Enters Into $15 Billion Oil For Cash Deal With India

Nigeria and India have entered a $ 15 billion deal swapping oil for cash. The deal was negotiated on behalf of the federal government with the Indian government by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu. The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has thrown its …

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President Buhari is building solid structure for Nigeria – Ibe Kachikwu

The Minister of State for Petroleum, Dr Ibe Kachikwu, has assured Nigerians of the commitment of President Muhammadu Buhari to building a solid structure for the country. Kachikwu stated this at the 2016 Convocation of the Petroleum Training Institute (PTI), Effurun, Delta, on Saturday. He said that there was no …

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China To Inject Additional $70b Into The Nigerian Economy

The Minister of State for Petroleum, Dr Ibe Kachikwu, on Wednesday said Chinese private sector companies had pledged an additional investment of 70 billion dollars to the Nigerian economy. Kachikwu said this while addressing State House correspondents on the outcome of the Federal Executive Council (FEC), presided over by President …

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Federal Government demands back payment of $635m from Total and Agip for undeclared crude oil shipped out of Nigeria between 2011 and 2014

Cash strapped Nigeria’s Federal Government is  demanding $635million from two multinational oil companies, Agip and Total for undeclared crude oil shipped out of the country between 2011 and 2014. Two cases have been filed at the Federal High court in Lagos by senior lawyer and Senior advocate of Nigeria, Professor Fabian …

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