Ongoing forensic audit of statutory remittances by oil and gas companies into the Nigerian Content Development Fund, NCDF will end on November 30, the Executive Secretary of the Nigerian Content Development and Monitoring Board, NCDMB, Engr. Simbi Kesiye Wabote has said. He stated this during a recent meeting in Abuja with forensic auditors contracted by…
Electricity Generation Companies (GenCos), comprising gas-fired and hydro stations said they released an average of 3,480 MegaWatts of electricity into the national grid on Sunday. This is contained in a daily energy report by the Advisory Power Team, office of the Vice President a copy of which was obtained in Abuja on Monday. The report…
Mrs Zainab Ahmed, the Minister for Finance, Budget and National Planning says under-recovery of Premium Motor Spirit (PMS), popularly referred to as fuel subsidy will gulp N450 billion in 2020. She said this on Monday in Abuja, at the public presentation of the 2020 budget proposals. Ahmed said it was called ‘under-recovery’ because it was…
The Lagos State Government said that it would work out a lasting solution to the challenges faced by tank farm owners and residents at the Ijegun-Egba area of the state. The Ijegun-Egba is a sub-urban community in the Alimosho Local Government Area of the state. The Governor of Lagos State, Mr Babajide Sanwo-Olu, gave the…
The Federal Government says it will increase crude oil production to the national target of three million barrels per day and reserves of 40 million barrels before 2023. Mr Mele Kyari, Group Managing Director, Nigerian National Petroleum Corporation (NNPC), said this while addressing the House of Representatives Committee on Petroleum Upstream chaired by Rep. Musa Adar…
A Nigerian Investment Bank, FSL Securities Limited is assisting Imo State Government to raise about One Hundred Billion(100b) Naira for infrastructural development in the State. The group made the disclosure during a meeting with the Deputy Governor of Imo State, Engr. Gerald Irona at the Government House, Owerri, Tuesday afternoon. In his presentation, Group Managing Director…
To shore up the skill pool in the Oil and Gas Industry, the Nigerian National Petroleum Corporation (NNPC) and the Oil and Gas Trainers Association (OGTAN) have expressed their readiness to partner in boosting the education and capacity levels of workers in the Petroleum Sector. Group Managing Director of the NNPC, Mallam Mele Kyari and…
Oil prices slid on Thursday as hopes faded for any significant progress in U.S.-China trade talks that could dispel clouds over the global economy and gloom over prospects for weaker oil demand. Global benchmark Brent crude futures fell 26 cents, or 0.5 per cent, to $58.05 a barrel while U.S. West Texas Intermediate crude was at…
The Nigerian Ports Authority, has dismissed what it called the blackmail of a section of its former workers who have assembled under the name; Nigerian Ports Authority Concerned Pensioners (NPACP), a group that is not known to any Nigerian law. Although members of this group, led by Mr. Charles Ayo Binitie are former employees of…
Vice President Yemi Osinbajo has wooed investors from the Nordic region with assurances that Nigeria is deeply committed to expanding opportunities for investments in renewable energy, and technology. Osinbajo took the message to a cross section of Norwegian investors at a round-table event at the Nordic-African Business Summit holding in Oslo, Norway. A statement by…
