Nigeria Potentially Paying N600 Billion Monthly for Fuel Subsidy Despite Official Removal – Rainoil CEO. Rainoil CEO Gabriel Ogbechie has stirred up the discussion around fuel subsidies in Nigeria, suggesting that despite their official removal in May 2023, the government may still be spending a significant N600 billion monthly. Ogbechie made this assertion during a…
Gas flare programme critical pathway to net zero carbon emission – NUPRC. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has identified the Nigerian Gas Flare Commercialisation Programme (NGFCP) 2022 as one of the critical pathways to achieving Net Zero Carbon Emission. The Commission’s Chief Executive, Mr Gbenga Komolafe, said this at its Investors’ Forum on…
Oil And Gas, Quickest Way For Nigeria To Overcome Economic Hardship – Minister. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has emphasized that Nigeria’s quickest path to overcoming current economic challenges lies in the exploration and production of oil and gas. Lokpobiri stated that the government is actively involved in policy…
ECOWAS Commission Commends ICC’s Progress in Maritime Security in Gulf of Guinea. The President of the ECOWAS Commission, Dr Omar Touray, has praised the efforts of the Inter-regional Coordination Centre (ICC) for its maritime security achievements in the Gulf of Guinea. Touray made this known at the 4th Annual Meeting of the Heads of Institution…
Govt, Stakeholders urged to key into 2024 Ocean Decade Conference Statements. The call for the Federal Ministry of Marine and Blue Economy and all maritime stakeholders in Nigeria to align with the 2024 Ocean Decade Conference Statement has been emphasized by Mr. Anthony Akpan, President of Pan African Vision for the Environment (PAVE), and National…
China Pledges Support for Nigeria’s Inland Waterways Transport The People’s Republic of China has pledged to support the Federal Government of Nigeria in enhancing inland waterways transport to alleviate port congestion across the country. During the Breakfast Meeting on Security and New Technologies for Inland Waterways Transportation organized by Zoe Maritime Resources Ltd. in Lagos,…
FG suspends mining activities within OAU, environs. The Minister of Solid Minerals Development, Dr Dele Alake, Tuesday, placed indefinite suspension on mining activities around the Obafemi Awolowo University, OAU, and Obafemi Awolowo University Teaching Hospitals Complex, OAUTHC, Ile-Ife, Osun State. According to a statement signed by the Special Assistant on Media to the Minister, Segun…
OPEC+ woos Namibia as it plans to begin production from 2030. The OPEC+ alliance, seeking to bolster its ranks after recent departures like Angola, is considering Namibia for potential membership, aiming to tap into what could become Africa’s fourth-largest oil output by the next decade, as per an African industry official and sources disclosed to…
Singapore retains world’s top maritime city crown. Singapore has maintained its status as the foremost maritime city globally, with Rotterdam and London trailing behind, as per the 2024 Leading Maritime Cities (LMC) report. The city-state, renowned for its extensive owned and managed vessel fleets, strategic geographic advantages, pro-business policies, and leadership in the maritime energy…
Tinubu inaugurates National Single Window steering committee. President Bola Tinubu has inaugurated the steering committee of the National Single Window (NSW) project with the aim of enhancing trade in Nigeria. Addressing attendees during the committee’s inauguration on Tuesday in Abuja, Tinubu expressed optimism about the project’s potential, foreseeing it to yield $2.7 billion annually for…
