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Local oil and gas operators increased from 53 in 2018 to 114 in 2023 - NCDMB
Oil and Gas

Local oil and gas operators increased from 53 in 2018 to 114 in 2023 – NCDMB

The Executive Secretary of the Nigerian Content Development and Monitoring Board, Engr. Simbi Kesiye Wabote, has revealed that a substantial increase from 53 to 114 in the number of local operators between 2018 and 2023. According to The Times, he stated during the ongoing Practical Nigerian Content Forum in Bayelsa state that the number of […]

Oil and Gas

FG to invest N100bn in EVs, CNG buses, autogas

The Presidential Compressed Natural Gas Initiative has said that N100 billion has been set aside to make it easier for CNG buses to be installed across the country. According to The Punch, this data was presented in a statement that was made public on Wednesday. According to the initiative, a portion of the fund would […]

Business

GEAPP pledges $15m to expand renewable tech access in Africa

All On and the Global Energy Alliance for People and Planet pledged an additional $15 million to expand the Demand Aggregation for Renewable Technology program at COP28 on Tuesday. The Punch reported that the announcement was made on Energy Day, following a World Bank conference on distributed renewable energy with the goal of hastening energy access for […]

Electricity

TCN Discos to complete 53 CBN-funded projects by May 2024

The Central Bank of Nigeria, the Transmission Company of Nigeria, and power distribution companies will complete 53 power projects worth N122 billion that are currently under construction across the country in May of next year. The Punch reported that the projects’ lead program coordinator for TCN, Mathew Ajibade, stated that when they were finished, the projects would […]

Business

Equity market recovers with N305bn gain

The Nigerian Exchange Limited closed in the green zone on Wednesday, adding N305 billion to the wealth of equity investors, maintaining its optimistic outlook. The Punch reported that following declines in the value of several medium-cap stocks on Monday, investors lost N259 billion. However, on Tuesday, they gained N166 billion. The market capitalization and the […]

Gas export: FG records N1.2tn loss
Oil and Gas

Gas export: FG records N1.2tn loss

Nigeria has exported N1.2 trillion worth of low-quality gas in the last ten years, according to the Energy Institute’s Statistical Review of World Energy. According to the Punch, the report, which was co-published with KPMG, the country’s natural gas export, which was estimated to be 28 billion cubic meters in 2012, fell to 20 billion cubic […]

Opay, Kuda, others to be taken down from fund transfer channels - Report
featured

Opay, Kuda, others to be taken down from fund transfer channels – Report

          Banks in Nigeria have received instructions from the Nigeria Interbank Settlement System Plc to remove all non-deposit-taking financial institutions from their NIP fund transfer channels. Non-deposit-taking financial institutions encompass switching companies, payment solution service providers, and super agents. The NIP fund transfer channels comprise USSD, mobile banking apps, POS, ATMs, […]

How governments spy on Apple, Google users - US senator
News Tech

How governments spy on Apple, Google users – US senator

A U.S. lawmaker issued a warning on Wednesday, claiming that unidentified countries are monitoring smartphone users through push notifications from their apps. Senator Ron Wyden said that foreign authorities were requesting the data from Apple and Alphabet’s Google in a letter to the Department of Justice. The letter lays out yet more ways for governments […]

Business

Bitcoin defies dollar surge, surpasses $44,000

The price of Bitcoin briefly surpassed $44K on Wednesday morning despite an increase in the value of the US dollar. According to The Times, a number of encouraging economic data points supported the US Dollar Index’s upward trajectory, which reached a two-week high today at roughly 104 index points. Despite this, institutional interest in Bitcoin hasn’t […]

IATA, weather company collaborate on data
Business

Global air cargo records 3.8% rise in October 2023 – Report

Data from the International Air Transport Association shows that air cargo volumes in Africa, the Middle East, and Asia saw a notable uptick in October, continuing a positive trend that began 17 months earlier. The Times indicated that in October, demand for air cargo worldwide increased by 3.8%, indicating a strong year-over-year growth trajectory. Compared to […]

Crude hits $83 as Nigeria's export passes 1.4mbpd
Oil and Gas

Crude oil exports make up 82.50% of Nigeria’s foreign trade in Q3 2023 – NBS

Nigeria’s foreign trade in Q3 of 2023 was 82.50% oil exports. This is based on the National Bureau of Statistics’ Foreign Trade Statistics Report. In the third quarter of 2023, crude oil exports accounted for the lion’s share of Nigeria’s export earnings. At ₦8,535.61 billion, these exports of crude oil accounted for approximately 82.50% of […]

Over 400,000 passengers use Blue Rail Line - LAMATA
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Over 400,000 passengers use Blue Rail Line – LAMATA

Bisola David Over 400,000 passengers had travelled on the Blue Rail Line as of November 29, according to the Lagos Metropolitan Area Transport Authority. According to The Punch, LAMATA’s managing director, Abimbola Akinajo, recently highlighted the system’s effectiveness at a press conference celebrating LAMATA’s 20th anniversary. Akinajo emphasized that the switch to the electric mode was smooth […]

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