Govt, oil marketers move to end fuel scarcity

Fuel scarcity persists.

05 May 2015, Abuja – Reprieve from the lingering fuel scarcity across the country may soon come the way of Nigerians following the pledge made monday by oil marketers to end days of petrol scarcity. The...

OTC kicks off in Houston, Texas

otc-2015-672x372

05 May 2015, News Wires – The 2015 Offshore Technology Conference kicks off in Houston, Texas with everything veteran attendees have come to expect from the massive event as well as some new wrinkles for the latest edition. “Things keep staying the same and changing,” OTC chairman Ed Stokes told Upstream shortly before the opening of...

Oil dips in early trade

05 May 2015, News Wires – Brent crude oil futures slipped towards $66 a barrel on Tuesday, falling from a 2015 high, as Saudi Arabia considered halting bombing in Yemen to allow the delivery of aid, which eased concerns about oil...

Petrol subsidy hits record high amid controversy

05 May 2015, Abuja – The subsidy to be paid by the Federal Government on every litre of petrol being consumed in the country has increased to N45.21, the highest level this year, up from N43.25 last Tuesday, according to data obtained...

Nigeria Content Investment Forum holds today in Houston, Texas

04 May 2015, Sweetcrude, Houston, Texas – All is now set for the annual Nigeria Content Investment Forum, NCIF, holding in Houston, Texas, today (Monday, May 4, 2015). It is the first edition of the forum, which is being organised...

Power generation, marketing and distribution updates

NERC to conduct inquiry into success, failure of ancillary metering plan

05 May 2015, Abuja –  Chineme Okafor in Abuja The Nigerian Electricity Regulatory Commission (NERC) said it will commence an administrative assessment to determine how well the substitute electricity metering scheme, the Credited Advance Payment for Meter Implementation (CAPMI) it initiated and passed on to distribution companies in 2014 was implemented by them (discos). NERC also disclosed...

NERC finally sets up network to advance electricity consumer rights

Sam-Amadi, NERC Oscarline Onwuemenyi 03 May 2015, Sweetcrude, Houston - The Nigerian Electricity Regulatory Commission (NERC) has announced a major effort towards strengthening electricity consumers’ rights, as it formally sets up Nigerian Electricity Consumers Advocacy Network (NECAN), which...

Nigeria’s power generation drops to 2,800 megawatts

Mr Godknows Igali, Permanent Secretary, Nigeria’s Ministry of Power. 02 May 2015, Lagos - Nigeria’s total electricity generation has dropped to a meagre 2,800 Megawatts, the lowest in nearly a year, as Nigerians struggle with mini-heat waves due to rising...

Probe PHCN, privatised assets, TMG tells Buhari

30 April 2015, Abuja – A civil rights organisation, Transition Monitoring Group, on Thursday called on the President-Elect, Maj. Gen. Muhammadu Buhari (retd.), to thoroughly investigate all the national assets privatised by the Peoples Democratic Party-led government...

Monitoring of ongoing projects undertaken by the Niger Delta Power Holding Company, NDPHC. View More Pictures...

CBN to push for amendment of foreign exchange act

Godwin Emefiele.CBN

05 May 2015, Abuja – As part of efforts to halt the seeming dollarisation of the Nigerian economy and also combat money laundering, the Central Bank of Nigeria (CBN) has concluded plans to push for...

Petrol subsidy hits record high amid controversy

Dr. Ngozi Okonjo-Iweala

05 May 2015, Abuja – The subsidy to be paid by the Federal Government on every litre of petrol being consumed in the country has increased to N45.21, the highest level this year, up from N43.25...

FG over-spent by N365.3bn between July-Dec 2014 – CBN

05 May 2015, Lagos –  The Central Bank of Nigeria, CBN, yesterday, said the fiscal operations of the Federal Government in the second half of 2014 resulted in an over-spending of the budget by...

Chevron profit drops but beats expectations on refining margins

Chevron headquarters – Houston. 02 May 2015 - Oil and natural gas producer Chevron Corp reported a 43 percent drop in quarterly profit on Friday, though results beat analysts’ expectations...

Nigeria, Africa rank least in insurance penetration

Femi Oyetunji, CEO, Continental Reinsurance Plc

Mr. Femi Oyetunji 20 April 2014, Lagos – The Chief Executive Officer of  has said Africa ranks the least in terms insurance penetration with  3.5 per cent among the continents. Similarly, within...

No premium, no cover: Government agencies refuse to insure assets – Fashola

Gov Babatunde Raji Fashola of Lagos

12 March 2014, Lagos – Group Managing Director of Industrial and General Insurance Plc, IGI, Mr. Rotimi Fashola has said that many government ministries and agencies no longer insure their assets...

CRFFN takes up life insurance scheme for members

25 February 2015, lagos – The Council for the Regulation of Freight Forwarding in Nigeria, CRFFN, has taken up a life insurance scheme of N1 million, for its members in case of death. Disclosing...

Nigeria: Compulsory insurance certificate now precondition for contract awards

  Nigeria’s Commissioner for Insurance Mr. Fola Daniel o8 January 2015, Benin - The Federal Government has said it will soon mandate all those seeking for government contracts to present their...

South Africa: Deputy president not benefitting from Eskom coal Contracts

South Africa's Deputy President, Cyril Ramaphosa.

South Africa’s Deputy President, Cyril Ramaphosa. 27 April 2022, Johanessburg - Office of the Deputy President, Cyril Ramaphosa on Saturday said it takes exception to statements made by energy analyst,...

Nigeria: Govt to offer Ajaokuta Steel for sale again

Ajaokuta Steel complex

Ajaokuta Steel complex 12 April 2015, Abuja - Director General, Bureau of Public Enterprises (BPE), Mr. Benjamin Dikki, has hinted that a new process to either privatise or concession the moribund Ajaokuta Rolling Mill would soon be undertaken by the Federal Government. However, the fresh privatisation efforts would be determined by the outcome of an ongoing...