Fuel Price Surge in Rivers State Leads to Doubled Transport Fares Despite the suspension of the planned strike by the National Association of Road Transport Owners (NARTO), the pump price of Premium Motor Spirit (PMS) has continued to surge in Port Harcourt and its environs, reaching between N900 and N1,000 per litre. A survey conducted…
Nigeria’s Capital Inflow Rises 66% in Q4 2023, Manufacturing Attracts Largest Share Nigeria’s economy received a welcome boost as capital importation surged 66% in the fourth quarter of 2023, reaching $1.08 billion. This marks a 2.6% increase compared to the same period in 2022 and a significant jump from $654.65 million in Q3 2023. Investment…
Ardova’s New LPG Facility Boosts Nigeria’s Energy Future, Says NMDPRA Nigeria’s energy infrastructure received a significant boost with the upcoming launch of Ardova Plc’s upgraded Liquefied Petroleum Gas (LPG) facility in Ijora, Lagos. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) commended the development and highlighted its impact on gas supply and accessibility. Increased…
MEMAN: No Conflict with Transport Unions, Focus on Fair Rates and Fuel Affordability The Major Energies Marketers Association of Nigeria (MEMAN) issued a statement today clarifying their position regarding the ongoing strike by transport unions NARTO and PTD. They emphasized: 1. No Conflict Exists: MEMAN denies any conflict with the transport unions, stating individual marketers…
Nigerian Naira and Stocks Plummet as Investor Jitters Mount The Nigerian financial markets experienced a tumultuous day on Monday, with the naira hitting record lows against the dollar and stocks suffering their biggest one-day drop in over a year. Naira Devaluation Deepens: The Nigerian currency plunged to a record low of 1,712 naira per dollar…
Women in Energy to Lead Conversations on Breaking Barriers at NIES 2024 The Nigeria International Energy Summit (NIES) is excited to announce the inclusion of the Women in Energy Roundtable as a central component of its highly anticipated 7th edition, scheduled to take place from February 26th to March 1st, 2024. The session, set for…
IPOB Threatens EEDC Over Persistent Power Outages in the South East The Indigenous People of Biafra (IPOB) has issued a stern warning to the Enugu Electricity Distribution Company (EEDC) over the continuous poor power supply in the South East region. The group’s spokesperson, Emma Powerful, in a statement released to the press on Monday, expressed…
JTF Raids 14 Illegal Refining Sites in Rivers, Vows to Crack Down on Oil Theft The Joint Task Force (JTF) Operation Delta Safe (OPDS) has launched a major operation against oil theft in the Niger Delta, uncovering 14 illegal refining sites on Ataba Island near Bonny Island in Rivers State. Led by newly appointed JTF…
NNPC Sports Fiesta Kicks Off, Ex-Super Eagles Stars to Face Company Team The 13th NNPC Ltd. Sports Fiesta kicks off tomorrow at the Moshood Abiola National Stadium, with employees competing in 13 sports for bragging rights and a chance to represent the company in the upcoming Nigeria Oil & Gas Industry Games (NOGIG). Key Points:…
NCDMB Shares Local Content Expertise with Mozambique The Nigerian Content Development and Monitoring Board (NCDMB) hosted a two-day knowledge-sharing session with a delegation from Mozambique’s national oil company, Empresa Nacional de Hidrocarbonetos (ENH), on developing and implementing effective local content policies. Key Takeaways: NCDMB’s leadership: The session highlighted NCDMB’s commitment to supporting African nations in maximizing…
