MEMAN, Stakeholders Emphasize Operational Safety in Retail CNG Sector. The Major Energies Marketers Association of Nigeria (MEMAN) and various stakeholders have stressed the importance of enhancing operational safety in Nigeria’s retail Compressed Natural Gas (CNG) sector. This was highlighted during a workshop titled “Enhancing Operational Safety in Nigeria’s Retail Compressed Natural Gas Sector,” held at…
ICPC Initiates Legal Action Against Rural Electrification Agency Officials for Alleged Fraud. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has commenced legal proceedings against several officials of the Rural Electrification Agency (REA) for their alleged involvement in fraudulent activities totaling over N1.2 billion. Among these officials is Usman Ahmed Kwakwa, who was…
Uganda and South Korea Collaborate on Nuclear Power Plant in Buyende. In a significant move towards energy diversification and sustainable development, Uganda and South Korea have announced plans to construct a nuclear power plant in Buyende District, eastern Uganda. This initiative was unveiled by Vice President Jessica Alupo, emphasizing the project’s primary objective of enhancing…
Mine Pit Collapse in Niger State Kills One, Traps 30. A mining pit collapse in Galkogo village, Niger State, has resulted in the death of one person and left 30 others trapped, according to the Niger State Emergency Management Agency (NSEMA). The collapse occurred at an underground gold mine on Monday, following heavy rains that…
FG Eyes $250bn Revenue Through Customs Modernisation Project. The Federal Government has announced plans to generate over $250 billion through the ongoing Customs Modernisation Project of the Nigeria Customs Service (NCS). This ambitious project aims to automate the NCS’s business processes, making it easier for stakeholders in the trade value chain to obtain import and…
Sahara Group Enhances Downstream Transformation with Strategic Appointments. Sahara Group, a leading energy and infrastructure conglomerate, has announced a series of strategic appointments aimed at driving the transformation of its downstream operations. Foluso Sobanjo has been appointed as Head of Africa Downstream, while Nomnso Dike has taken on the role of Chief Executive Officer at…
NCDMB Plans Strategic Enhancements to Boost Nigerian Content Fund. The Nigerian Content Development and Monitoring Board (NCDMB) has announced plans to implement changes aimed at enhancing the Nigerian Content Intervention (NCI) Fund, aiming to increase its impact and efficiency. This was revealed by the Executive Secretary of NCDMB, Engr. Felix Omotsola Ogbe, during a quarterly…
Nigeria’s External Reserves Plummet by $1.8bn in 10 Weeks. Nigeria’s foreign exchange reserves have declined by $1.8 billion in the past 10 weeks, according to recent data from the Central Bank of Nigeria (CBN). As of May 29, 2024, the country’s FX reserves stood at $32.69 billion, a drop from $34.44 billion recorded on March…
Nigeria’s Presco to Acquire Ghanaian Oil Palm Firm for $125 Million. Nigeria’s leading oil palm company, Presco Plc, is set to acquire a 100% equity stake in the Ghanaian Oil Palm Development Company (GOPDC) for $124.9 million. This acquisition involves purchasing 70,580,000 ordinary shares of GOPDC at $1.77 per share. According to a corporate disclosure,…
Lokpobiri Affirms Continued FG Support for PTI in Oil Sector Development. Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), has reaffirmed the Nigerian government’s commitment to the Petroleum Training Institute (PTI) in Effurun, Delta State, as a vital hub for developing skilled manpower in the oil and gas sector. Speaking at the PTI…
