Schneider Electric, a leading player in the digital transformation of energy management and automation is leveraging the Internet of Things (IoT) in order to ensure the efficiency and profitability of businesses with its EcoStuxure platform In a chat with newsmen on the side lines of Power Nigeria Conference in Lagos in which Schneider Electric is…
Brent crude oil prices hit their highest level since November 2014 on Monday ahead of U.S. sanctions against Iran that kick in next month. Brent sweet crude oil futures rose to as much as 83.27 dollars a barrel. U.S. West Texas Intermediate (WTI) crude futures were at 73.57 dollars a barrel. Brent was pushed up…
President Muhammadu Buhari says his administration is making progress in the fight against corruption as shady oil deals and the brazen theft of billions of Naira are no more. The president stated this in his address to the nation as part of activities to mark Nigeria’s 58th Independence Anniversary in Abuja on Monday. Buhari also…
The Ibadan Distribution Company has taken the University College Hospital, Ibadan (UCH) to the Nigerian Electricity Regulatory Commission (NERC) arbitration panel over N217 million indebtedness. Mr Bamidele Falade, the Manager, Business Hub Commercial of IBEDC explained to the NERC panel sitting in Ibadan that the management decided to involve third party intervention because of the…
Proserve Energy Services Ltd, a local energy firm, has won the concession and construction contract for 750 kilowatts (kw) hybrid solar plant at Power House, Federal Ministry of Power, Works, and Housing in Abuja. The Managing Director/CEO of Proserve, Dr. Abba Ibrahim, disclosed this yesterday when he briefed newsmen about the innovative renewable energy project….
The President, NGA, Mr Dada Thomas, said the government and operators recognised that the first step towards attracting huge gas investments was to provide a legal and regulatory framework that would enable the removal of all the other obstacles. “As we all know, the passed gas policy proposes reforms are so profound that almost every…
Gas supplies to the power sector may run into a hitch following advance notice by indigenous gas producers that the N701 billion Payment Assurance Guarantee by the federal government elapses by December this year. The gas suppliers said the fund which was released by the Central Bank of Nigeria (CBN), to ameliorate liquidity crisis in…
The Federal Government will earn over $20 billion from the mining industry in the next eight years, the Mining Cadre Office Director-General, Mr. Mohammed Amate, has said. He said the government has issued over 6,000 licences to miners, adding that it will leverage the potential in the sector to achieve the goal. In an interview…
Nigeria’s crude oil export appreciated by 17.38 per cent to N7.308 trillion in the first six months of 2018 from N6.226 trillion recorded in the last six months of 2017, according to data obtained from the National Bureau of Statistics (NBS). The NBS, in its Second Quarter 2018 Foreign Trade Statistics, stated that first half…
