NNPC

Dozens reported dead in Nigerian fuel truck explosion

Hussaini Ibrahim, spokesperson for the agency, confirmed the death toll of 48, with efforts still underway to clear the scene

The move is expected to reduce the country’s reliance on foreign currency for oil imports and stabilize fuel prices.

President Bola Tinubu’s decision last year to terminate costly fuel subsidies led to a tripling of pump prices initially

The gas processing facility will be established on the Ubeta onshore gas field, co-owned by TotalEnergies and NNPC

Nigeria, the largest oil producer in Africa, heavily relies on crude oil for over 90% of its foreign exchange earnings and about half of its budget

Last year, President Bola Tinubu’s administration removed subsidies, opening the doors for private firms to import