CNG Buses: FG launches pilot phase, presents coverted buses to State House The Federal Government on Friday launched a pilot phase of the Compressed Natural Gas (CNG) buses, announcing waiver of Value Added Tax (VAT) on CNG purchased vehicles. Engineer Micheal Oluwagbemi, the Chief Executive Officer (CEO) of the Presidential CNG Initiative (P-CNGi) disclosed,…
Only stable, sustainable power sector can guarantee Nigeria’s prosperity, says British Envoy The British High Commissioner to Nigeria, Richard Montgomery, has stressed the critical role of the power sector in Nigeria’s prosperity. Montgomery stated this in his remark at a roundtable on the Electricity Act 2023 with theme, “Implications and Opportunities for State Electricity Markets”…
NASS to probe lawyers, others behind $11bn P&ID scandal The House of Representatives, on Wednesday, resolved to investigate legal and other service providers involved in the case between Nigeria and foreign firm, Process and Industrial Development Limited. Following a botched gas project, P&ID had dragged Nigeria to arbitration and won an $11bn award against the…
VP Shettima woos investors, says Nigeria best Investment hub for Agribusiness The Vice President, Kashim Shettima, has wooed foreign investors to invest in Nigeria’s agricultural sector, assuring them that the country is ready for agribusiness. He said Nigeria remained the best place to invest given its 70 million hectares of underutilised arable land, which, according…
Senate mulls banning CBN Gov, Deputies from partisan politics The Senate has commenced a move to bar the Governor of the Central Bank of Nigeria (CBN) and the Deputy Governors from participating in partisan politics. This is coming just as two Bills, seeking to bar the CBN governor and his/her Deputies from partisan politics, scaled…
Border closure responsible for free fall of Naira, says Senate The Senate, on Wednesday, said the free fall of the Naira was as a result of the border closure by the federal government. The Senate, however, advised the executive arm of government to open the borders to ease business operations within the country. Speaking during…
FG secures €1m EU grant for nuclear project The Federal Government, on Wednesday, announced that it had secured a grant of €1m from the European Union to execute the instrument for nuclear safety projects in Nigeria. It announced this in Abuja through the Nigerian Nuclear Regulatory Authority, after EU nuclear safety experts visited the NNRA…
Nigerian oil Industry on steady growth trend, says Wabote The Nigerian oil and gas industry is growing steadily across several fronts despite reduced investments due to the global quest for cleaner energy and divestments of some onshore and shallow assets by a few international oil companies, the Executive Secretary Nigerian Content Development and Monitoring Board,…
Lifting of ban on 43 items: Reps summon CBN Gov for clarification The House of Representatives has summoned the Central Bank (CBN) Governor, Dr Olayemi Cardoso to appeal before it to justify the rationale for lifting ban on the importation of 43 items. The Central Bank of Nigeria had lifted the foreign exchange restrictions it…
Nigeria’s Decade of Gas will support global energy security – NLNG MD The Decade of Gas plan is the most comprehensive plan to restore efforts to fully harness Nigeria’s vast gas resources and ensure a reliable global supply of gas as a clean energy source and a major fuel in the energy transition mix, the…
