The Managing Director, Nigeria Electricity Management Service (NEMSA), Engr. Peter Ewesor Thursday explained why some electricity meters were rejecting low voltage. Ewesor, who is the Chief Electrical Inspector of the Federation, said that the meters were programmed to reject low current in order to avoid damage to the appliances the current was supposed to power….
Vice President Yemi Osinbajo on Monday said the Federal Government has spent N1.7 trillion in capital investment in two budget years. Mr Osinbajo spoke while addressing participants at the 9th Presidential Quarterly Business Forum held at the State House Banquet Hall in Abuja. The focus of the forum was on job creation. The vice president…
Vice President Yemi Osinbajo addressing MSMEs during one of Social Investment Programmes facility disbursement Share …As Osinbajo claims disbursement of N2tn so far More than three years into the life of the current administration and its well publicized barrage of social investment programmes, development economists are worried on the scarcity of real beneficiaries who have…
As more stakeholders in the country’s oil/gas and maritime space continue to leverage critical partnerships to develop vessels, the country’s local content programme championed by the Nigerian Content Development and Monitoring Board (NCDMB) appears to be gathering momentum. Collaborations have been identified as particularly effective way to lower costs and simplify contractor management. Combining equipment,…
The nation is set to add at least 5,000 barrels of oil per day and 300MW to its energy capacity with the entrance of Waltersmith Refining and Petrochemical Company’s 5,000 barrels of oil per day modular refinery situated at the Ibigwe Field in OPL 2004.According to the firm, the investment will shape Nigeria’s petroleum products…
The Central Bank of Nigeria (CBN) has asked a Lagos High Court to dismiss a suit brought before it by MTN Nigeria, seeking to stop the bank’s directive to it (MTN) to return to the coffers of the apex bank, $8.1billion alleged to have been improperly repatriated by the telecom firm and unpaid taxes of…
The Governor of CBN, Mr. Godwin Emefiele, has said that the apex bank may alter the $8.134 billion fines imposed on MTN Nigeria for illegal repatriation of funds from the country. Reuters quoted Emefiele as saying this yesterday in London. “I don’t think it will be staying at $8.1 billion. This issue will be dealt with…
Polish oil refiner PKN Orlen expects to receive a first ever shipment of Nigerian crude oil next month, its CEO said, as Poland seeks to reduce its reliance on Russian supplies. State-run PKN Orlen, Poland’s biggest refiner, and smaller rival Lotos, which it is taking over, rely mostly on Russian oil delivered via pipelines built…
The Standards Organisation of Nigeria (SON) has commenced the certification phase of Techno Oil LPG cylinders, a crucial process in the anticipated roll out of cylinders from Nigeria’s flagship indigenous LPG manufacturing plant. The certification process is part of the Mandatory Conformity Assessment Programme of SON, the high point of processes required for Techno Oil…
The massive investment that Pan Ocean, a leading indigenous oil and gas sector player has made in its Amukpe-Escravos Pipeline Project (AEPP) is set to begin to pay off in 2019 and beyond as the project enters completion stage. The 67-kilometer pipeline project was jointly initiated by state-owned oil company, the Nigerian National Petroleum Corporation…
