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Tag: FG

Power generation dropped 43mw after worker's strike - FG
News

Power generation dropped 43mw after worker’s strike – FG

Data received from the Federal Ministry of Power on Sunday revealed that the recent one-day strike by employees of the Transmission Company of Nigeria caused Nigeria’s power generation to plummet from a peak of 4,829.5 megawatts to as low as 43MW. AMBusiness reported that the nation’s electricity grid was shut down last Wednesday by transmission […]

Energy transition: Osinbajo meets Siemens officials
News

FG completes acquisition of four DisCos

The Federal Government has completed the acquisition of four energy distribution firms and established the board of the Nigeria Electricity Liability Management Company. Vice President Yemi Osinbajo, on Friday, said the newly constituted board of the Nigeria Electricity Liability Management Company would enhance ongoing efforts to resolve the liabilities relating to tariff shortfalls for power […]

FG to end fuel subsidy in 2023 - Minister
Oil and Gas

FG to end fuel subsidy in 2023 – Minister

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has disclosed that the Federal Government will stop paying subsidies on Premium Motor Spirit (petrol) by June 2023. According to The Punch, Ahmed made this disclosure during a meeting with the House of Representatives Ad Hoc Committee investigating the Petroleum Products Subsidy Regime from 2013 […]

Nigerians bought petrol N191.65 per litre September- NBS
Oil and Gas

FG spent N1.593tn on fuel subsidy in six months – Report

The Federal Government spent a total of N1.593 trillion on subsidy of Premium Motor Spirit, often known as petrol over a six-month period between January and June 2022. This was discovered in recent data on the subject cited by The PUNCH. It was also learned that the Nigerian National Petroleum Company Limited invested N54.66bn in […]

Power generation dropped 43mw after worker's strike - FG
Electricity

Power intervention fund hits N2.9trn

The Federal Government’s intervention fund for electricity distribution companies has increased to N2.9 trillion. According to The PUNCH, the fund which moved from N2 trillion in May of this year represents a 45% increase over the period. By estimation, the N2.9trn is the total funding extended to the sector since privatisation in 2013. The Director-General, […]

Nigeria Air: FG warns against fake recruitment website
Aviation

FG mum on identities of Nigeria Air investors

The Federal Government has kept mute on the identities of Nigeria Air investors as it continues to work towards ensuring that the nation has a national carrier before the end of 2022. According to The PUNCH, Stakeholders in the aviation sector have also called on the Federal Government to disclose the identities of the strategic […]

Controversy as Seplat disputes ExxonMobil deal cancellation
News

Controversy as Seplat disputes ExxonMobil deal cancellation

Hours after the President, Major General Muhammadu Buhari (retd.), announced the withdrawal of the approval given to Seplat Energy to buy Mobil Producing Nigeria Unlimited’s shares, the company Thursday stated that it had not heard from the Federal Government on the reversal. According to The PUNCH, the company added that it was requesting clarification from […]

FG halts planned 5% tax on GSM calls, SMS
News

Importation of SIM cards no longer allowed – Pantami

The Nigeria Minister of Communications and Digital Economy, Isa Pantami, has revealed that the Federal Government of Nigeria has banned the importation of subscriber identity module cards Pantami made the announcement on Monday in Oniru, Lagos at the Nigerian Telecommunications Indigenous Content Expo organized by the Nigeria Office for Developing Indigenous Telecoms Sector of the […]

Power generation dropped 43mw after worker's strike - FG
Energy

FG may suspend distribution of free four million meters

Phase 1 of the National Mass Metering Programme slated for distribution in August, funded by the Federal Government has been halted following allegations of fraud against some of the Meter Asset Providers by the Central Bank of Nigeria. An anonymous source told The PUNCH that power distribution companies were yet to be furnished with meters […]

Nigeria needs debt relief - AfDB
News

Nigerian govt most difficult client, AfDB official reveals

A senior official of the African development bank, Prof. Banji Oyelaran-Oyeyinka, Tuesday, described the Federal Government as the bank’s most difficult client. Oyelaran-Oyeyinka who is a Senior Special Adviser to the President of the African Development Bank said this while delivering a keynote address at the 2022, 3rd Biennial African Scientific Integration Network Conference hosted […]

Electricity

Discos to fight FG over takeover, restructuring

The receiver/manager’s nominee of Integrated Energy Distribution and Marketing Company has kicked against the Federal Government’s takeover and restricting plans. According to The PUNCH, the firm on Wednesday said it was the legal and beneficial owner of 60 per cent (controlling and managing) shareholding interests in the Ibadan Electricity Distribution Company. Also, the management of […]

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