NEWS

Leading electrification specialist, Equipmake, has readied a range of high performance yet cost-effective advanced electric motors for mining equipment and vehicles, bringing major benefits in terms of power density, low running costs and…

The Nigerian Maritime Administration and Safety Agency (NIMASA) has issued a three-month ultimatum to companies engaged in Cabotage trade in Nigeria to register all vessels used in coastal and inland waters trade. NIMASA said that this…

I speak to you today as your President and fellow citizen on this epoch occasion of our country’s 60th independence Anniversary. As President, I wish to renew my appreciation to Nigerians for entrusting me with your hopes and aspirations…

On Oct. 1, 1960, everything seemed possible for Nigeria: After nearly 80 years of colonialism under Great Britain, it was finally an independent nation.  During the newly independent nation’s earliest days, there was every reason for…

The OPEC Fund for International Development (the OPEC Fund) has signed a US$20 million term loan in favor of East African Development Bank (EADB). EADB will use the loan to support small- and medium-sized enterprises (SMEs) and…

The Nigerian National Petroleum Corporation (NNPC) and Sterling Exploration and Energy Production Company (SEEPCO) have signed an agreement for the development and commercialization of gas from the Oil Mining Lease (OML) 143 that could…

The Federal Government has said that it plans to roll out palliatives that would ameliorate the sufferings that Nigerian workers may experience as a result of the hike in electricity tariffs as well as the impact of the deregulation of the…

The Nigeria Labour Congress and the Trade Union Congress have suspended the strike earlier scheduled to commence today (Monday). The latest development followed an agreement organized labour reached with the Federal Government at a…

President of the Senate, Ahmad Lawan, has said for the African Continental Free Trade Agreement to yield expected results, same must be backed by requisite legal frameworks, right policies, and robust implementation. He made this known…

Following the failure of the Federal Government to reverse the increase in the electricity tariffs and pump price of petrol organized labour movement in the country said will commence strike and nationwide protest across the country from…

Nigerian electricity generation companies (GenCos) sold electricity worth N294.16 billion in the first five months of this year to the Nigeria Bulk Electricity Trading (NBET) Plc. The NBET buys electricity in bulk from GenCos through…

Nigeria, through the Central Bank of Nigeria (CBN) has introduced a solar intervention fund that will grant obligors access to credit facility not exceeding N500 million maximum. The CBN said the objective is to provide affordable…

Chevron Invests $1.45bn in Nigerian content development – Report Chevron Nigeria Limited (CNL) has disclosed that it invested $1.45 billion in Nigerian Content Development (NCD) in 2019. The multinational Oil Company made the…

The Petroleum Products Pricing Regulatory Agency (PPPRA) has revealed that the non-availability of foreign exchange was the reason why many marketers were yet to start importation of petroleum products. The Executive Secretary of the…

The National Environmental Economic and Development Study (NEEDS) has said that Nigeria flared 225.1 billion standard cubic feet of gas, (bscf) between January and July 2020, stressing that gas flaring in Nigeria’s oil fields has taken a…

As part of the efforts to stimulate finance to critical sectors of the economy, the Central Bank of Nigeria (CBN) has released the guideline for the recently introduced N250 billion intervention facilities to help stimulate investment in…

… also N234m donations to support COVID-19 response by states. The Nigeria Liquefied National Gas (NLNG) Limited, has donated medical equipment to Edo and Adamawa states as part of its contribution to the N11.4 billion oil and gas…

Following the recent closure of Nigerian’s airports, being fallout of the Covid19 lockdown, midterm reports from some of the aviation sector operators in Nigeria gives no cheer.  While a number of the aviation fuel suppliers are…

The Lagos Deep Offshore Logistics Base (LADOL Free Zone) has refuted allegations that it was shortchanging the Nigerian government on the much needed investments and revenues at the free zone.LADOL had been accused of instituting…

Lagos based, Japaul Oil & Maritime Services Plc, a Nigerian petroleum-services company, is shopping for N27 billion ($70 million) in a share offer in November to fund its switch to mining, as crude exploration and production activities…