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Nigeria secures $155m clean energy investments

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Mohammad Barkindo
News

OPEC outgoing Secretary General Barkindo is dead

Secretary General of the Organisation of Petroleum Exporting Countries, Mohammad Barkindo, is dead. He died about 11pm on Tuesday. His death was announced in the early hours of Wednesday by the Nigerian National Petroleum Company Limited Group Managing Director, Mele Kyari. Kyari tweeted, “We lost our esteemed Dr Muhammad Sanusi Barkindo. He died at about […]

Flood: Gas scarcity looms as NLNG stops operations
Energy

90% Nigerians lack cooking fuels, 62% without electricity -FG

About 62 per cent of citizens in Nigeria lacked access to electricity, while 90 per cent had no access to modern cooking fuels, the Federal Government has said. The Minister of State for Petroleum Resources, Timipre Sylva, who disclosed this during his address at the ongoing 2022 Nigeria Oil and Gas conference in Abuja, said […]

Femi Gbajabiamila
News

Reps summon Sylva, Kyari, Emefiele over subsidy probe

Speaker of the House of Representatives, Femi Gbajabiamila, has knocked the Minister of State, Petroleum Resources, Timipre Sylva; Minister of Finance, Budget and National Planning, Zainab Ahmed; and Governor of the Central Bank of Nigeria, Godwin Emefiele; over their failure to appear before an Ad Hoc Committee on the Volume of Fuel Consumed Daily in […]

Fidelity bank
Electricity

Fidelity Bank takes over Kano, Benin, Kaduna Discos

Fidelity Bank Plc has taken over Kano, Benin and Kaduna electricity distribution companies after the bank initiated action to take over the boards of the three Discos. The Federal Government announced the takeover on Tuesday night. Also, the government through its Bureau of Public Enterprises, announced that with the takeover of Ibadan Disco by the […]

News

Bread will get more expensive, bakers warn

The President of Premium Bread Makers Association of Nigeria, Emmanuel Onuorah, has warned that the cost of bread might skyrocket with the rising inflation, fuel hike and power instability in Nigeria. Onuorah, who spoke on TVC News on Wednesday, lamented the high running cost of producing bread, and noted that these would impact on prices […]

FG okays concession of 700MW Zungeru power plant
Energy

FG okays concession of 700MW Zungeru power plant

The Federal Government has given the green light to speed up the concession process for the 700 megawatts Zungeru Hydroelectric Power Plant in Niger State. The Head, Public Communications, Bureau of Public Enterprises, Ibeh Chidi, made this known in a statement released in Abuja on Tuesday. According to Chidi, the approval of the strategy work […]

Gas consumption to decline over Russia, Ukraine war - Report
Oil and Gas

Gas consumption to decline over Russia, Ukraine war – Report

Gas consumption will contract slightly this year due to high prices and Russian cuts to Europe, with only slow growth over coming years as consumers switch to alternatives, the IEA said Tuesday. The International Energy Agency chopped its forecast for global gas demand by more than half in its latest quarterly report on gas markets. […]

Ban on alcohol in Abuja
News

Business owners protest alcohol ban in FCT

Owners of recreation centres have written to the Minister of the Federal Capital Territory, Muhammed Bello, to remind him that Nigeria is a democratic society and not an Islamic state. The business owners also rejected plans by the minister to prohibit the sale of alcoholic beverages in parks and gardens in Abuja. They demanded that […]

Why oil theft estimates are unrealistic- Navy
Oil and Gas

Nigeria’s crude oil output drops below expectation – Report

A financial service company, Vetiva, has decried that Nigeria’s crude oil output has fallen below expectation despite efforts by the Organisation of Petroleum Exporting Countries to unwind production caps. The PUNCH reported that Vetiva, in its half-year economic outlook titled “A strange labyrinth”, cited operational and security challenges as the reason for the development. An […]

Flood: Gas scarcity looms as NLNG stops operations
Oil and Gas

NNPC, Sahara to build jetties to boost cooking gas supply

The Nigerian National Petroleum Company Limited and Sahara Group, through their joint venture business, WAGL Energy Limited, are set to develop and construct jetties across West African countries to boost the supply and penetration of Liquefied Petroleum Gas, popularly called cooking gas, in the sub-region. According to The Punch, the Managing Director, WAGL Energy Limited, […]

Companies insure top executives against kidnapping
News

Companies insure top executives against kidnapping

Some companies, especially multinationals in Nigeria, are obtaining insurance for their top executives in case they are taken hostage as kidnappings soar in the country. A report by SBM Intelligence revealed that an average of 13 people were kidnapped in Nigeria every day in the first half of 2021. Business Day reported that as of […]

Naira fall'll worsen Nigeria’s food, energy crisis — W’Bank
Banking

How Nigeria, others can increase mobile money accounts – World Bank

The World Bank has revealed how Nigeria and other Sub-Saharan African countries can increase the number of mobile money accounts. According to its ‘COVID-19 Drives Global Surge in use of Digital Payments,’ introducing its ‘Global Findex 2021 database’ report, the apex bank highlighted the digitalisation of cash payments and expansion of phone ownership. The global […]

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