Oil Prices Surge 3% on Positive Economic Data and Rate Cut Hopes Amid Rising Geopolitical Tensions Oil prices closed higher on Friday, capping off a week of gains exceeding 3.5% driven by encouraging economic data and growing anticipation of interest rate cuts by the Federal Reserve as early as September. These developments have eased concerns…
Government Unveils New Curriculum After 12 Years, Focuses on Technology and New Skills After a 12-year hiatus, the federal government has announced a comprehensive review of the curriculum for basic and senior secondary schools, aimed at addressing the current learning crisis in Nigeria and integrating modern technology into education. Speaking at the Nigerian Educational Research…
Nigeria’s Seaports at Risk of Congestion Due to Absence of Functional Rail System, Warns NSC Chief. Nigeria’s seaports are facing an imminent risk of severe congestion due to the lack of a functional rail system for evacuating cargo to the hinterland, according to Pius Akutah, Executive Secretary/CEO of the Nigerian Shippers’ Council (NSC). Speaking at…
EKEDC Advocates Safety, Urges Customers to Apply for Prepaid Meters. The Eko Electricity Distribution Company (EKEDC) has called on its unmetered customers to register for prepaid meters as a means to eliminate the challenges of estimated billing. Mrs. Rekhiat Momoh, the acting Chief Executive Officer of EKEDC, made this appeal during a Customer Engagement forum…
Tinubu Hails Increase in Crude Production to 1.61 Million Barrels Per Day, Cites Reforms. President Bola Ahmed Tinubu has lauded the recent boost in Nigeria’s crude oil production, which reached 1.61 million barrels per day (mbpd) in July 2024. The President attributed this significant increase to the reforms his administration implemented in May 2024 to…
Obasanjo Warns of Efforts to Frustrate Dangote Refinery by Fuel Importers. Former President Olusegun Obasanjo has voiced concerns that those benefiting from Nigeria’s lucrative fuel importation business may attempt to frustrate the operations of the Dangote Petroleum Refinery, a $20 billion project owned by Africa’s richest man, Alhaji Aliko Dangote. Obasanjo’s comments come amidst…
NNPC Ltd Denies Allegations of Economic Sabotage, Defends Operations. The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Mr. Mele Kyari, has categorically denied any involvement in economic sabotage, affirming that the company has adhered strictly to all enabling laws governing its operations. Kyari made this statement on Wednesday while…
IMO Launches ‘Insider Threats’ Toolkit to Strengthen Maritime Security. The International Maritime Organization (IMO) has unveiled a new toolkit designed to help the maritime industry tackle the rising challenge of “insider threats.” These threats involve security risks posed by employees who may, either intentionally or unintentionally, contribute to security breaches within ports and ships. Recognizing…
TotalEnergies Divests 50% Stake in Pakistan Joint Venture to Gunvor Group. TotalEnergies has signed an agreement to sell its 50% stake in Total PARCO Pakistan Limited (TPPL) to Gunvor Group, a leading global commodities trading company. The decision is part of TotalEnergies’ strategic plan to concentrate on core regions with significant growth potential and opportunities…
Nigeria’s Oil Output Rises to 1.7 Million Barrels Per Day Amid Enhanced Security Measures. Nigeria’s crude oil production has increased significantly, reaching between 1.6 million and 1.7 million barrels per day, thanks to enhanced security measures implemented by the government, according to Chief of Naval Staff Emmanuel Ikechukwu Ogalla. This marks a considerable rise from…
