Oil Price Surges Above $113 as OPEC Keeps Supply Unchanged Nigeria gets 1.735m bpd allocation for April, petrol scarcity persists Emmanuel Addeh in Abuja Crude oil price yesterday continued its upswing as Brent, Nigeria’s benchmark crude, rose above $113 per barrel for the first time in close to eight years. This was
as the Organisation of Petroleum Exporting Countries (OPEC) resolved to continue the addition of a measured volume of 400,000 barrels per day, agreed with its allies, OPEC+, in August last year. The producers’ group, which
decided on the quota for member countries for April, allocated Nigeria 1.735 million barrels per day as its production for next month. But it remains doubtful whether Nigeria would be able to meet its allocation for the month, having consistently,
for close to a year, been unable to supply the global market with its required volume. Last month alone, the country recorded a deficit of over 300,000 barrels per day, even though the total quantity of oil it drilled for
that month, roughly 1.4 million bpd, was its best in several months. The increasing crude oil price also implies that the controversial subsidy payments in the country would rise when the computation for this month is done, since the
pump price of petrol in Nigeria, which does not refine a drop of the product, has a positive relationship with the international crude oil prices. Continued on page 47
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Lawan Asks Buhari to Forward PIA Amendment Bill to National Assembly Panel gets one week to amend 2022 budget
Sunday Aborisade in Abuja
L-R: Co-chair, Public Leaders Programme Blavatnik School of Government, University of Oxford, Prof. Chris Stone; Executive Vice-Chair, Aig-Imoukhuede Foundation, Mrs. Ofovwe AigImoukhuede; Head of Civil Service of the Federation, Dr. Folasade Yemi-Esan; H.R.H. Muhammadu Sanusi II; Chairman, Aig-Imoukhuede Foundation, Aigboje Aig-Imoukhuede, and Co-chair, Blavatnik School of Government, University of Oxford, Prof. Kate Orkin, during the closing ceremony of the AIG Public Leaders Programme Class of 2021, held in Abuja…yesterday
President of the Senate, Dr. Ahmad Lawan, yesterday urged President Muhammadu Buhari to transmit a bill to the National Assembly to amend the Petroleum Industry Act (PIA). Lawan stated this before he referred the president’s request for the amendment of the 2022 Appropriation Act to the ComContinued on page 47
Convention: APC Set to Roll, Appoints Abdulrazaq Zoning Committee Chairman Lawan, Omo-Agege, some APC senators endorse Adamu for national chairman Party leadership yet to meet on Electoral Act, says Akpanudoedehe Sheriff: I'm not aware Buhari is endorsing Adamu Hammed Shittu in Ilorin and Adedayo Akinwale in Abuja Ahead of its March 26 national convention, the leadership of the All Progressives Congress (APC) has begun to set machinery in motion for the exercise. The latest move was the constitution of an eightmember committee on the zoning
of party offices, headed by Kwara State Governor Abdulrahaman AbdulRazaq. National Secretary of the Caretaker/Extraordinary Convention Planning Committee (CECPC), Senator John Akpanudoedehe, disclosed this in a statement, yesterday. Continued on page 47
Women Protest over Constitution HAS SEGUN ONI’S TIME COME?... Segun Oni, former governor of Ekiti state and candidate of the Social Democratic Party (SDP) in the forthcoming election standing on motorcade on arrival Review, Allege Discrimination... in Ekiti to a tumultuous crowd...Tuesday Page 48